Word: tins
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Dates: during 1960-1969
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...wounded 40 others inside Red China. The terrorists have blown up a blockhouse, a dynamite magazine, a bank, a stretch of railway near the borders of Hong Kong and Macao. An attempt was also made to destroy a Macao-Canton ferryboat, but it was foiled when crewmen discovered a tin labeled "Apricot Kernel Cakes with Meat Filling" behind a men's room mirror. It was a TNT bomb, and the passenger suspected of planting it was executed two weeks...
...most people, tin is usually something about to be thrown away; but to the men who know it best, tin is romantic, capricious, volatile-and a very profitable commodity. During the Korean war, speculators from London to Singapore made a killing when tin prices soared to $2 a lb.; then short sellers grew rich as Russian dumping knocked the price down to 75?. Gradually the world price inched back to $1.20, which is just about what it costs the industry's many marginal operators to produce tin. But recently the price sank...
...market has quivered, waiting for the U.S. to say when and how it would sell so large an amount of tin, and for what price. Despite State Department denials, rumors persist in London (where world price patterns are set) that the U.S. intends to dump its stocks at rock-bottom prices to help out the U.S. steelmakers, who are the prime users of tin (for cans). Equally persistent are contrary rumors that the U.S. will set a high price because it paid relatively high prices for the stockpiled tin and does not want to lose money. The U.S. has another...
...prevent wild swings in the prices, the six major producing nations are joined with 14 consuming countries in the International Tin Council. The I.T.C. was able to moderate the Russian dumping by enforcing strict output quotas on its members and by putting pressure on Moscow, which is reluctant to insult the politically sensitive producing nations. But the I.T.C. is not a very toothy dragon because the U.S., which accounts for 23% of the world's annual tin consumption of 215,000 tons, refuses to join on the grounds that the I.T.C. smacks too much of an international cartel. Last...
This week the U.S. promises to make public the details of its tin disposal program. Washington officials contend that the market will be able to absorb the sales from the stockpile because world production has fallen an average of 26,000 tons short of demand in each of the last four years-largely because of political crises in the Congo and Indonesia. The man who will direct the U.S.'s sales, General Services Administration Executive John Croston, has tried to calm fears of U.S. dumping by saying that the sales would be spaced out over five years, with just...