811.20 Defense (M) Argentina/212: Telegram
The Acting Secretary of State to the Chargé in Argentina ( Reed )
1042. Department’s 784 of June l.27 Metals Reserve and Hochschild have now reached an agreement in principle on beryl ore under terms of which Metals Reserve will purchase 1200 tons, of which 600 tons are on hand and balance will be delivered prior to December 31. Price is $8.25 per short ton unit, c & f New York, any increase in ocean freight above prevailing rate of $15 per long ton to be for the account of Metals Reserve. Ore to have minimum content of 9½% BeO.28 Payment to be made after arrival New York and inspection of goods there. Metals Reserve is prepared to extend same terms to other producers. In addition, in the case of experienced and reputable ore sellers, it would consider paying say, 80% upon shipment, balance after arrival and inspection in New York. This fact should not be communicated in this form to the Argentine Government.
In view of the foregoing will you as soon as possible communicate with the appropriate Argentine authorities and attempt to obtain at once an arrangement of the kind referred to in the last paragraph of [Page 317] your 825 of May 5 except that the figure for the accumulated stocks should be appropriately increased.
This is a very important matter because of the urgent need, at the earliest possible moment, of the accumulated stocks and of all sources of supply which may be obtained for the balance of this year, and you are requested to do everything possible to expedite a prompt and satisfactory conclusion.