ZING CONTROL SCHEME

Evening Star, Issue 21974, 9 March 1935, Page 11

ZING CONTROL SCHEME

CARTEL NOT RENEWED The meeting of members of the International Zinc Cartel, which was to have been held at Brussels on December 21, was put off at the last moment. This being so (says an English paper), the cartel came to an end on December 31 in the normal course of things. The situation had for a long time been chaotic, and many difficulties arising from day to day had proved impossible of solution. In particular, the system of fines imposed for over-pro-duction was no longer satisfactory to important members, who were determined to secure proper respect for all the clauses of the cartel. The principal obstacle to the proper working of the cartel was the artificial conditions in which the London market has been operating. In consequence of the important duties imposed by the British Government, the London quotations are alleged to have been out of equilibrium, and the members of the cartel were almost unanimous in their complaints of this. It is held that until the London market is freer the cartel cannot begin work again in the same conditions as before. From January 1, then, all producers regained their liberty of action. But in well-informed circles it is predicted that contact will be renewed towards the middle of nest year.