800.6354/126: Telegram
The Ambassador in the United Kingdom (Kennedy) to the Secretary of State
[Received July 14—11:35 a.m.]
991. The following inquiry has been received from the Secretary of the Malayan Chamber of Mines in London:
“As my Council is much concerned at the price to which Straits tin has recently risen and would value the opinion of consumers in America on the point and also on the statement which is frequently made that the American consumers are not concerned with the figure of price so long as the price is reasonably steady, I am instructed to ask if you could kindly indicate the best source in America to which I could apply in order to obtain an unbiased opinion.”
This letter has been shown to Todd who fully concurs that the answering of it furnishes an unusual opportunity. As the Department is aware there is considerable dissatisfaction among Malayan tin interests as to the working of the tin control in general and in [Page 923] particular as regards the prevailing excessive price of Straits tin. Todd and I suggest that I reply to this letter by stating that it has been referred to him, that the Department get in touch with Towers81 to the end that he and his committee formulate a draft reply which should be cabled to Todd because he sails for the United States on the 26th. If this procedure recommends itself to the Department please let me know because Todd also wants to get in touch directly with Towers to emphasize the desirability of a suitable reply.
Todd states that he had a chance meeting with Mills, the buffer pool operator, who stated that he had been selling substantial quantities of the buffer stocks and had now exhausted all of his supply of Straits tin, the premium for which is now about £8. One of the Malayan representatives of the Tin Committee also expressed to Todd dissatisfaction with the operation of the tin control.
- Walter S. Towers, Executive Secretary, American Iron and Steel Institute.↩