CO129-553-8 Tin- analyses of assay 11-3-1935 - 4-3-1936 — Page 54

COPY.

HENRY GARDNER & CO. LTD.,

2, Metal Exchange Bldgs. Leadenhall Avenue,

E. C. 3.

1st February, 1927

A.de V. Leigh, Esq.,

Secretary,

The London Chamber of Commerce, Inc.

97, Cannon Street,

E.C.4.

Dear Sir,

54

CHINESE TIN SHIPMENTS PER SS "KARMALA"

AND ATSUTA MARU".

With further reference to our conversation of this morning, we now beg to give you fuller details with regard to the matter in question.

We have bought the above two parcels of Chinese Tin, as per copy of contract herewith, from G.A.Witt's Succr., J. Blum of this City, who are agents on this side for:

Union Trading Co. Ltd., Hong Kong.

Although the Hongkong Government analysis assay which was attached to the documents gave the contents of the parcels as 99%, on resampling here and assaying by Messrs. Daniel C. Griffith & Co., and Mr. F. Claudet, the metal ex SS "KARMALA" only showed 98.75%Sn. as per copy of certificate enclosed, and when it was resampled, it only showed 98.80%. As a further effort to prove the Hongkong analysis correct, we went to the trouble of taking the original 51 slabs of Tin which were sampled and assayed by the Government laboratory in Hongkong and drilled holes within 1" of where the original sample holes were made; the sample we sent to Mr. Benedict Kitto of 366, City Road, E.C.1., who only found the contents to be 98.90%, as per copy of assay certificate enclosed.

With regard to the parcel ex SS "ATSUTA MARU" Messrs. Griffith and Mr. Claudet only found the Tin contents to be 98.63%.

We may explain that the usual procedure is to buy this Tin in the East on the Hongkong Government laboratory assays which are final, and to deliver the Tin on the London Metal Exchange contract, against which it is a good delivery provided recognised English assayers have found the contents to be 99% Sn.; but if the assay by the English assayers should show less than 99% Sn., the metal is not considered a good delivery on the Metal Exchange contract, and the metal has tobe sold to the best possible market.

We may here advise you that 99% Tin being a regular marketable commodity, if it turns out less than this percent- age, it becomes purely a matter of negotiation as to its disposal, and as a rule one has to accept practically any bid which can be obtained.

We have been fortunate to be able to dispose of the two parcels in question by making an allowance of £3. per ton, and the loss we have sustained in this deal owing to the assays not coming up to the guarantee, amounts to £315-0-4, as per Statement enclosed herewith.