Price to Be Kept Between £200 and £230
London, Mar. 17, A scheme has been proposed for the formation of a Tin buffer pool.
The plan provides for buying by the pool if the price falls below £200 per ton and selling when above £230 per ton. These limits may be varied if a marked change in the price structure renders it necessary.
A pool stock will be created by contributions "from the signatory countries equal to 7% per cent. of their standard tonnages, which will be forfeited and proportionately redistributed among the other: signatory countries if any signatory country fails to produce its quota.
The pool is to remain operative until January 1, 1942 Operations of the pool will be controlled by a small body appointed by ihe International Tin Restriction Committee, and the working of the pool will be secretly carried out through the London Metal Exchange. An account of the available stocks Will be rendered to the International Tin Restriction Committee prior to each quota meeting.
Regarding premiums on special brands over the standard quality, the scheme follows the regulations of the old buffer pool whereby premiums Will be returned to the producers.—Reuter.
Text read from the printed page and cleaned; old type leaves the occasional error.