Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-10-02
TIN PRICE CONTROL
PLAN IN OPERATION
International Committee Ar.
ranges. Pool to Regulate
Rate of Production.
BY LOUIS e. VAN NORMAN.

A new plan for controlling the world
price Of tin has now been made effec-
tive by the International Tin Commit
tee, following its annual meeting a few
days ago at The Hague
The interest of the American bust
ness man in any such development
arises from the fact that imports of tin
most valuable mineral shipments from
abroad. During 1880 almost exactly
one-hah of the worlds total production
Of virgin tin was required to satisfy
the needs Of American industries.
Alaska Is the chief domestic producer,
although small quantities are mined in
California and South Dakota However,
the output of domestic mines is less
than one-tenth Of / per cent Of the
world total.
Ranks High in Value.
During the past few years, in terms
of value, tin has ranked high among
the first domestic commodities i'm
ported into the United States, being
exceeded in annual value only by rub
Der. silk, coffee. sugar, paper, petro-
leum and wool.
The United States imports tin in
bars blocks and pigs and according to
the Bureau of Mines, most of this
COLIlcS 6ilILoL Mdldyd. II Is uS6u
largely for making tin and terne plate.
Slice the United States is the world
most generous purchaser of tin, buying
every year more than 40 per cent OF all
that Is sold, any agreement to regulate
or restrict output Is of importance to
American consumers. It is merely nee
essary to mention the canning and
automobile industries to show how de-
pendent the great American consuming
public is on this metal
In common with so many other COM
modities during these days Of mass pro-
duction, tin stocks have been increasing
at a rate which long ago had its effect
on prices.
A couple OF years ago representatives
of the more important n-producing
companies OF the British. Empire met at
London and agreed upon output and ex-
port allotments. Later, changes we're
made in the scheme and a certain
amount of support was accorded the
idea by the operators of tin mines in
the Netherland East Indies and Bolivia.
which ranks, after the British Malaga
states as the chief sources of the world
supply.
Meeting in London.
Early in the present year tin pro-
ducers, representing almost all the
world interests. met in London and
agreed on a basic world production with
fixed quotas. The scheme became effec-
tive last March and was to run for two
years Production quotas were reduced
at a meeting in May. Now the new ar
rangement includes an international tin
pool with the approval and assistance Of
the governments of the countries con-
cerned. The agreement is TO run until
February % 1893
While the United States stands way
down on the list of countries producing
virgin tin, secondary tin-that recov-
cred from scrap and junk-iS produced
in large quantities in this country and
such production is increasing. Depart
ment of Commerce figures show that
stocks at port warehouses in New York
at the end of 1880 were almost twice as
large as at the end Of 1929. Statistics
also indicate that the price of tin has
declined sharply during the last few
years and is now less than half the
average price ruling four or FIVE years
ago.
(CopyriEht, 1870