INVESTIGATIONS: River of No Return

North America's only known deposits of tin in commercial quantities are on Alaska's Seward Peninsula. Looking for a domestic tin source, the U.S. has laid out $2,894,576 in loans and loan guarantees to develop the low-grade (.4%) ore of the Lost River mine, 40 miles east of Siberia. Last week the Joint Congressional Committee on Defense Production, headed by Indiana's Senator Homer Capehart, issued a chilly report indicating that the U.S. was taken in by some cool customers.

An option to buy the property was held by the U.S. Tin Corp., formed in...

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