PRODUCTION OF TIN.

New Zealand Herald, Volume LXVI, Issue 20426, 30 November 1929, Page 13

PRODUCTION OF TIN.

REGULATION OF SUPPLIES.

I APPROVAL BY ASSOCIATION.

(Received November 29, 7.15 p.m.) British Wireless. RUGBY, Nov. 28. At a meeting of the recently-formed Tin Producers' Association yesterday, at which the former President of the Board of Trade, Sir Philip Cunliffe-Lister, presided, a motion for the regulation of supplies, which had been prepared by the executive committee, was submitted. A resolution approving the principles involved in the scheme was carried unanimously and the council was authorised to take the necessary steps to carry the scheme into effect.

It is understood that the (scheme provides for the restriction of supplies by smelters to the requirements of the market and for some form of restriction of output by the producers.

The statement, however, was made that

next year's production should expand, while a prospective increase in the American consumption was not assured.

The result of tho meeting had been awaited with keen interest, in view of statements that the Tin Producers' Association represented 90 per cent, of the British Empire production of tin, and before the meeting the price of tin and of shares in tin companies had rallied somewhat from their low levels, on the prospect of effective steps being taken to put the industry into a healthier position.

The result of the meeting has, however, apparently been somewhat disappointing. The price of tin itself slumped to-day by over £8 per ton and tin shares weakened in sympathy.