TIN POOL.
SCHEME ACCEPTED
LIMIT £200 PER TON. BUYING WHEN PRICES LOWER. (Received 0.30 a.m.) LONDON, June 1. The Colonial Office announces" that Malaya voted in favour of the tin butter stock proposal with a two to one majority. As it is understood that the Dutch Indies, Bolivia and Nigeria also favour the scheme the Government decided to accept it in principle, subject to satisfactory negotiation. The detailed scheme, it is stated, is for the pool to buy tin when the price falls below £200 and sell when it is over £"J3O. Tt will start with contributions equivalent to 7V4 per cent of standard tonnaße. Its operations will be secretly controlled from London. The recent slump in the price of tin caused consternation among producing companies and shareholders. After reaching a peak of £311 5/ per ton just over a year ago the» value of the metal in London fell steadily. Last week it reached the low point of £157 12 '6 per ton, but has since firmed to £164 7 6. and yesterday dropped back to £163 2/6.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/AS19380602.2.21.11
Bibliographic details
Auckland Star, Volume LXIX, Issue 128, 2 June 1938, Page 4
Word Count
179TIN POOL. Auckland Star, Volume LXIX, Issue 128, 2 June 1938, Page 4
Using This Item
Stuff Ltd is the copyright owner for the Auckland Star. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons BY-NC-SA 3.0 New Zealand licence. This newspaper is not available for commercial use without the consent of Stuff Ltd. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.
Acknowledgements
This newspaper was digitised in partnership with Auckland Libraries.
Log in