A bail-out may be devised for the tin industry.

Representatives of 35 banks met at the Bank of England to discuss ways of bailing out the cash-starved International Tin Council, and unidentified sources close to the discussions said the envoys devised a rescue proposal. Tin trading has been suspended on the London Metal Exchange since Oct. 24, when the tin council ran out of money and stopped supporting tin prices by buying up surplus tin. Trading is to resume Nov. 18. The unidentified sources said the meeting produced a plan to help the tin council pay creditors, provided the council’s member nations give financial guarantees.