Word: cartelized
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Dates: during 1930-1939
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...tons of tin bound for U. S. ports to be combined or converted into can coatings, automobile bearings, tooth fillings, gun metal, tin foil. At the same time, in Brussels, the discreet and powerful gentlemen whose companies mined this tin were agreeing to extend for five years the cartel by which world tin production is determined. Set for the first quarter of 1937 were production quotas at what the International Tin Committee calls "standard 100%," practically identical with 1929 production (192,000 tons). Siam, which nearly broke up the agreement last year by demanding a bigger quota, came into line...
...Because the deposits are alluvial, they can be "dredged." Each cubic yard of dredged earth yields about half a pound of metal. Annual output of the company varies according to quotas set every three months by the International Tin Committee. Bases of the cartel allowances, which apply to about 90% of the world's production, are 1929 outputs. In 1935, working at 42% of rated capacity, Yukon Gold turned out 1,118 long tons of tin. Selling its metal for an average of more than 47? per Ib., the company made $454,100 for the year...
...profit in 1929, Yukon Gold tumbled into the red in 1930, piled up big deficits the next two years. Reason for the decline was the state of tin which,, like most of the world's leading metals, was caught out on a limb by Depression. In spite of cartel restrictions, output did not drop as fast as consumption from 1929 through 1931 and prices dropped from 45? to 24? per Ib. In 1932 production was pulled below consumption. Two years later prices were up to 52? per Ib., and the company showed a profit of $424,500, even though...
...price, thus keeping most of U. S. copper inside its own stockade. Last week, for the first time since 1931, foreign copper prices spurted past the U. S. quotation, rose to 9.95? per lb., compared to the current domestic price of 9.75?. As the price climbed, the foreign copper cartel announced that next month they would increase production from 75? to 80% of capacity. Purpose: to give a war-scared European market all it wants, keep U. S. copper men from cashing in on the higher price abroad...
Producers have formed an international cartel. New York reported it, London denied...