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The Ambassador in the United Kingdom ( Kennedy ) to the Secretary of State

thly consumption at 9,500 tons during the next 3 or 4 months, including 500 in Government purchases, and recommends 100% for the first quarter, and a retroactive increase to 120% for the fourth quarter, in order to bring into circulation some of the Nigerian stocks of 1300 tons. In view of the above, we feel that it is probably unnecessary to take further action, and we are of the opinion that it would not serve any useful purpose to say anything about the second quarter at this time. The above quotations are of course only approximate records of a long and rapid conversation, but they convey …

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