Tin Trust

When U. S. producers feel the need for combination in their industry they proceed warily with one eye on the anti-trust laws. Foreign producers, however, have few inhibitions, not only in combining corporations but in regulating markets, production, prices. Thus last week a group of British and South American tin men formed the British-American Corp. with the avowed purpose of stabilizing the price of tin at -L-265 a long ton ($1,284). This price would be the equivalent of about 57 1/2 a pound as compared to last week's National Metal Exchange (Manhattan) quotations of around 45-c-. The one million pound capital of British-American Corp. will be privately subscribed, subscribers including Sir Hugo Cunliffe-Owen, Director of Midland Bank (world's largest), Sir John Mullins, whose brokerage firm floats loans for the British Government and the Bank of England, John Howeson, Chairman of Anglo-Oriental Mining Corp., Senior Don Carlos Aramayo, Bolivian Minister to England* and head of Compagnie Aramayo de Mines en Bolivia, great Bolivian tin property. About 80% of British tin producers will be represented in the price control movement and Senior Aramayo's participation is expected to insure support of Bolivian tinmen. Dutch producers have not joined the cartel but are considered sympathetic toward its purpose.

Strong Tin. No precious metal is tin, yet it is one of the rarest of the common metals. Tin deposits in British Malaya produce about 60,000 tons annually; Dutch East Indian deposits about 35,000, Bolivian about 40,000, Nigerian about 9,000 tons--total 143,000 tons. World production last year was only 159,135 tons. Metallurgists see no likelihood of new tin fields being soon discovered and many of the mines now being operated will run out just as the once-famed Cornish tin mines are now virtually exhausted. Meanwhile the demand for tin constantly increases, thus leaving the tin producer in the pleasant position of meeting an increasing demand with a diminishing supply. Chief tin companies are Anglo-Oriental Malaya, Ltd., British company working a majority of the Malayan and Nigerian mines; and the Patino Mines and Enterprise, Consolidated, organized by Bolivia's Simon Patino. Most of the Dutch mines are government controlled.

Consumption. Production of U. S. tin is negligible; but this country consumed (1928) 81,516 tons, or more than half the world's consumption. Tin is used mostly in combination with other metals. Most famed union is the copper-tin alloy bronze, from which was fashioned the short sword of the Roman Legions. Varying proportions of copper and tin give gun metal, bell metal, babbitt metal and many another alloy, the greater the percentage of tin the harder being the resulting composition. A tin and lead alloy is solder. Greatest use of tin (35% of total) is the making of tin-plate from which comes the familiar tin can. A tin can consists of about 98 1/2% iron or steel and 1 1/2% of tin--the tin being merely a coating or plate over the steel. Tin, contrary to common supposition, does not rust, corrode or tarnish. Tin is used by itself chiefly in tinfoil, used in wrapping chocolate bars, cigarets and similar products, and also in the manufacture of collapsible tubing, as in shaving-cream and toothpaste tubes. Tin can be hammered so thin that one pound of tin is enough for 18,500 square inches of tinfoil.

*Simon Patino, even greater Bolivian tin tycoon, is Minister to France.