Memorandum of Conversation, by the Assistant Chief of the Division of North and West Coast Affairs (Hall)

Participants: Assistant Secretary Braden
Ambassador Martínez Vargas
Mr. Wright, A–Br
Mr. Briggs, ARA
Mr. Wells and Mr. Hall of NWC

The Ambassador called to ask for advice regarding the next steps to be taken in the tin negotiations. It was pointed out to him that RFC was still awaiting answer to their 74¢ offer and Señor Martínez said that he would call them to say that his Government could not accept the same.

The Ambassador expressed hopes that RFC would meet the Argentine offer of 76¢, in which case he would use his best efforts to reduce the Argentine allocation from 8,000 to say 3,000 tons, or roughly the production handled by the Banco Minero. He said that his Government would probably be willing to consider an RFC contract until September, for one year, or even for two years.

Mr. Braden replied that his officers would confer with RFC tomorrow, after which any available information would be passed on to the Ambassador.