Page:United States Statutes at Large Volume 57 Part 2.djvu/304

 940 INTERNATIONAL AGREEMENTS OTHER THAN TREATIES [57 STAT. ARTICLE 5. The transfer of diamonds to Canada under this Agreement shall begin as soon as possible after the date of signature of this Agreement and the Companies and the Corporation severally undertake to use their best efforts to transfer the diamonds mentioned in Schedule I opposite their respective names at a rate not less than the rate set forth and from the date set forth in Schedule II for each Company. Single shipments shall not exceed 300,000 carats each. ARTICLE 6. The Companies and the Corporation will arrange for the sorting of the diamonds in the Reserve in such manner as will enable the quantities of industrial diamonds suitable for the various industrial uses to which they are put to be estimated readily and in such manner as they will be readily available for sale in the usual selling classifications of the Trading Company. A report on the quantities of diamonds of various classes in the Reserve and of the progress of the sorting will be furnished to the Minister by each of the Companies, the Corporation and the Trading Company or by the Corporation on their behalf for each quarter com- mencing with that ending on the 31st March, 1943, and at the end of each three months thereafter. ARTICLE 7. The prices at which the diamonds will be sold from the Reserve will be the Trading Company's selling prices in operation on the 30th June, 1942, with the addition of such amounts as are estimated by the Minister to be reasonable to cover the additional costs of the Minister, the Companies, the Corporation and the Trading Company for the establishment, maintenance and liquidation of the Reserve (including the costs of returning diamonds to the United Kingdom and insurance mentioned in Articles 9 and 10), provided that if the ceiling prices of industrial diamonds in the United States are raised the Trading Company's selling prices for diamonds in the Reserve may be increased correspondingly with the consent of the Minister. If rough diamonds of cuttable quality not normally sold as industrial diamonds are sold out of the Reserve as industrial diamonds, the prices to be charged by the Trading Company will be such reasonable prices as reflect the utility of the material and its cost of production for industrial purposes and not its value as gem stones. Such diamonds shall be sold at those prices subject to an undertaking that they will be re-sold only for use in industry and notification of such sales will be made to the Minister. ARTICLE 8. The Companies, the Corporation and the Trading Company severally agree to furnish to the Minister within 30 days after the end of each quarterly period com- mencing with that ending on the 31st March, 1943, a statement of the stocks of industrial diamonds which they hold, with such information as to the quantities of the various classes mentioned in Schedule I contained in the stocks as will enable an estimate to be made of the quantities which are suitable for various industrial uses. ARTICLE 9. The Minister will make provision at his own expense for the return to the United Kingdom of the diamonds remaining in the Reserve at the termination of this Agreement. ARTICLE 10. The Minister will pay the costs of insuring at the current selling prices of the owners the diamonds provided for the Reserve against all insurable risks of damage or loss from the date when the diamonds are despatched from storage en route to Canada until they are sold or returned to the United Kingdom in

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