Liverpool, perhaps due to the fact of its being the port to which the lines of navigation that run to and from the Amazon are directed, has become the European emporium for Brazilian rubber. In fact, 40 per cent of the Brazilian production is directed towards that city. Liverpool also receives rubber of various qualities proceeding from the English and other European possessions in equatorial Africa. The increasing production of the Oriental plantations finds in London one of its principal markets for the precious gum. Although rubber proceeding from different parts appears in the market, it may be affirmed without hesitation, that London is the special centre for cultivated refined rubber (plantation) which is easily explained by the fact that the owners of the extensive plantations in the Malay States are nearly all of them London companies. Occidental and Oriental Africa, principally German Colonies, send to Hamburg the greater part of the rubber which is negotiated on that market. Brazil enters with about 20 per cent of the total amount of the business. Antwerp owes its rubber trade to the creation of the Congo Free State, whose production, now in decline, is practically all directed to this city. It also receives rubber from Brazil, and seeing that Belgian capital is employed in the Oriental plantations its future is promising. Havre, on the other hand, is of greater importance to Brazil; where 75 per cent of the transactions are in Brazilian rubber. It also imports the Congo species, as also those of some of the French Colonies in Africa. However, the great bulk of the production of these latter colonies is directed to Bordeaux. * * * * * The methods of sale adopted in these markets, vary very much. From the slow old-fashioned process of sale by private treaty, to sales on time terms, passing through auctions and underwritings, in short all the commonly known modes of negotiating are in use. The most important market, that of New York, adheres to the old-fashioned method of personal contracts for immediate delivery, which certainly serves better the interests of buyers, than those of sellers; the agitation that was created round this question with a view to reform the market, gave no result whatsoever. Liverpool presents us the polymorphic type. Private sales, and sales on a fixed day for delivery, or sales by auctions, all take place, consulting thereby the preferences of both sellers and buyers, and establishing the free course of the values. The same happens in London, where, however, the Plantation companies have initiated more advanced transactions, such as sales of crops in anticipation.