Demand Telegraphic Transfer
Demand 2295 Demand 198
Demand Demand 65
Demand am Demand 783 BANK'S OPENING BUYING RATES, Voxpox—
Demand 3/0) 4 m/s, credits 3/1 4 mis. Does, 31 6 m/s. credits B/Lts 6 m/s. Docs. a/t%
New Yorr—
Demand 733 4 m/s, credits 4 m/s, Does, Panis—4 m/s. Does. 2400 nom.
Closing business done at London TT. ant New York 'T.T, 72h from developing and which caused the railways to be monopolized by) military.
(c) Apart from the fact that the! early spring is not considered an. important period for exports from China, there was a diminution of the usual volume of exports. This} is exemplified by the case of ex-Ports from China during the first three months of the current year to the United States, the figures being U.S. $37,300,000 as compared 12 with a total value of U. S. $46,600,- 000 for the first three months of 1925.
(d) During March Germany announced her intention to mint 200] million marks in silver coins, which means about 500,000 kilogrammes of silver, or about "16 million ounces troy. At the same time the often discussed measure of forcing the Purchase of 14,589,730 ounces by the U. S. Treasury under the terme of the Pittman Act came to the fore once more. These qualities represent about two months total out-Put of the Americas—a respectable amount of silver. Yet the existence of these plans had no direct influence on silver prices, and therefore the latter dectined.
(e) Lastly it was the Gold Stock Exchange in Kiukiang Road which helped to bring silver down, speculators were active in creating, overbought gold position. These operators have a much stronger influence on silver prices than the world realizes. When India and London became bearish, it was direct consequence of the policy. which the Shanghai speculators had adopted.
Text read from the printed page and cleaned; old type leaves the occasional error.