226 MINERALS YEARBOOK


higher prices will be necessary before it will be profitable to resume operathrns
at many mines in the United States that were closed in 1931 and 1932. Pending
considerable price increases it is therefore probable that consumers' requirements
will continue to be ifiled in part by imported mercury.
 Reports were current during the middle of the year that the Italian interests,
dissatisfied with the price situation, were about to withdraw from the cartel,
Mercurio Europeo. This cartel, organized in 1928, had been able to maintain
prices up t~ the middle of 1931 but apparently could never control the production
of its members, with the result that large stocks accumulated. When price
control was lost also and prices dropped precipitously in 1932 the effectiveness
of the cartel was lost, at least temporarily. It was later reported that
legal difficulties stood in the way of immediate withdrawal of the Italian
interests, that differences had been patched up, and that dissolution of
the cartel had been avoided.

Salient statistics of the mercury industry in the United States, 1930—32
[Flasks of 76 pounds]
.
1934~
1931
1932
Production flasks_Number of producing mines                         Average
price per flask:   New York                                     London  
                                 Imports for consumption:   Pounds      
                               
21,553
75

$115.01
£21 15s. Sd

283,086

3,725

25,200

85

305
24,947
77

$87.35
£19 15s. lOd

41, 733

549

20,512

97

88
12,622
95

$57. 925
£13 15s. 2d

295,348
3,886
16,294
76
1 3,840
Equivaient flasks                              
Apparent supply  flasks   From domestic mines percent...Stocks in warehouses
(bonded) at end of year  flasks



1 Probably includes about 3,550 flasks imported late in the year on 1 large
contract.

 Prices.—During most of 1931 the quotations on imported mercury were
well above the prices at which the product of domestic mines was being sold.
Much of the time the New York price was approximately the same as the European,
not including the duty of $19 per flask, and the latter was sometimes higher,
thus enabling the United States to enter the foreign market. With the almost
vertical drop in European prices in 1932 foreign mercury could be imported
into the United States for less than the cost of production at most American
mines.
 On January 8 the American Metal Market reported that it had been announced
in London that metal from Mercurio Europeo was available at $65 f.a.s. European
port of shipment, although it had previously been reported that the trust
had disposed of 30,000 flasks to a syndicate in London which would market
the metal at $75. The London price had fallen to £16 lOs. or $60 at
the prevailing rate of exchange by the end of April, and by the middle of
July mercury was quoted in London at £11 lOs. A low price of £9
18s. 6d. was obtained late in July, but by December first the price had increased
to £11.
 The trend of domestic prices during 1931 and 1932 is shown in the following
table.