Word: tins
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...opposing field commanders discussing a truce, Bolivian Ambassador Ricardo Martinez Vargas and RFC Administrator W. Stuart Symington held an important conference in Washington last week. After four weeks of polite parleying, they came to terms: Bolivia agreed in principle to sign a 30-day contract to sell her tin to the U.S. at $1.12 a lb., subject to the approval of the big Bolivian tin producers. The terms added up to a notable victory for Symington, who has been fighting a two-front war for lower prices for tin and other raw materials. One front is against Bolivia and other...
...Declared. Symington declared war two months ago when he stopped buying Bolivia's tin, at $1.39 a lb., some 79% higher than pre-Korean prices. He began selling tin to U.S. consumers from the stockpile, in 18 days hammered the world price down to $1.06. Since Bolivia gets 83% of its foreign exchange from sales of tin, chiefly to the U.S., its economy began to shake. State Department officials feared that a depression might cause a revolution in Bolivia that would at least result in sweeping anti-U.S. forces into power...
Hazy Figures. To find a fair price, Symington and State sent a joint commission to Bolivia last month. The commission discovered that the Bolivian government had only hazy figures on tin production costs. In effect, the producers started out with a selling price, such as $1.50 a lb., then "justified" it by arbitrarily setting their costs, e.g., labor and equipment, 53?; taxes, 54? dividends, 18?. Since labor costs were only 23% of the selling price, Symington argued that the tin barons and not the workers got the benefits of high prices. (Average Bolivian income is 1/40th of average U.S. income...
Died. Egbert A. Van Alstyne, 73, old-time songwriter (In the Shade of the Old Apple Tree, Pretty Baby, Memories); of a heart attack; in Chicago. After several years as a honky-tonk piano player and song plugger, Van Alstyne, with Lyricist Harry Williams, won Tin Pan Alley fame in 1903 with Navaho, then went on to turn out more than 500 tunes until radio came along to rout the family piano. When sheet-music sales began to drop, Van Alstyne decided it was time to retire...
...Andy Wyeth was taken out of first grade after three months, never went back. He learned, a little reluctantly, at home, still has trouble spelling simple words. During the long days when Andy's brother and three sisters were away at school, he mused, wandered and played with tin soldiers. Storms of illness and the chill rain of solitude slowly nurtured his imagination...