'Te bar silver market collapsed during the week, Yeceding. up to alkd in London,' while New York Jevels were still" lower, namely} 'BEE cents. One has to go back August, 1915, when a quotation of Bi, ted was recorded in London; in November, 1914, a similar low level was reached, namely 224d per Standard ounce. According "to ables compiled by Messrs Pixley and Abel other low silver records mere. as follows: 214kd in 1902, 21 in 1908 and 22d in 1908. Apaxt from the data mentioned already' silver never went lower thu 23|U. pence, When the week opened the exchange position of local speculators was about square. Within the week the gold dealers acquired an overbought gold position which is chably estimated to aggregate £3, (000,000, all currencies told. Actual: ay there is no prime reason for the vaadical change of tactics. The persistent pressure for buying gold feurrencios brought about the col-apse in silver and exchange. Tow-ever, it is dificult to apportion the lane or praise to cause or effect, Has the market broken down be-ensue the speculators indulged Hrensied buying? Or did the gold dealers buy heavily because they foresaw the break?
On Saturday, September 14, our market closed distinctly easy with old ar quotations at 410," Banks were willing to buy at Bib, &-B56) for September delivery. Bxports could then be. placed for near at 2/42 $0TA and frames at 14.71 'Those low levels are. responsible for an almost complete standstill of importa, 'Shipment, of silver to China' ico during the frst] amber amount. to)
{in value, Dur-ug the month of August London. consigned about 1,600,000 " taels worth of bar silver to ongkong-Bhanghai.
The mint at Hangchow is sche-to conse operations towards ud of September, at which Aline it will have coined the quantity originally contracted for. However, in the event of the zate being maintained above 72, 'i likely that the mint will continue working.
Text read from the printed page and cleaned; old type leaves the occasional error.