TIN MONOPOLY

Hokitika Guardian, 21 December 1931, Page 6

TIN MONOPOLY

FORCING UP PRICE. (United Press Association.—By Electrio Telegraph.—Copyright., » LONDON, December 18. The Committee of Control of the Tn teruational Tin Pool met at Paris yesterday. Its communique states the pool now holds 19,000 tons of tin, the whole of this appearing in the visible supplies. The signatory Governments to the international tin quota have now agreed to remain in the schemfor the control of tin for three years as from the ,12th August last, or until prior liquidation of the pool. They approved the revision of the sliding scale of prices, which provides that the present mimimum price ol £l5O per ton shall he increased to £165, and this will now he the minimum price at which the pools holding may be released for an initial amount of five per cent, of sale. If and when this shall have been the average price of spot tin on London metal exchange during any completed calendar month, the next successive price limit at which ten per cent may be released will be similarly increased to £l/6, and further release prices have been adjusted accordingly. The Committee emphasised the pool s tin is held, and is out of control of the pool anticipants. It can only be dealt with under conditions stipulated in the pool- agreement.