ini: 8 Yon 100.00 ones Banque Belge Pour 1'Etranger Mex. $1
The feature of the past week was the continued "strength displayed by the yen, Speculators bought con-.5 siderable sums of Ji rency in the local market on the basis of cross-rates which, at times, reached 47% U. S. for 100 yen, Primarily the rise in the value of the yen is due to speculative purchases, but possibly the likelihood of some of the projects in connection with foreign loans on account of Japan may be near realization.
The" rather large purchases yen in the Shanghai market ea other gold currencies to. decline! considerably, and indirectly were folio responsible for the widening of differences between ready and forward delivery. As much as half penny was paid between spot and end of March, while differences of 1.1/8 and 1.4 in the yen rate were dione during the week. Such transections (inclusive of depositing the foreign currency bought for ready at say 4} per cent. interest per annum)" represent an investment for the capitalist at about 10 per cent. interest per annum.
The mint at Tientsin has recently been active, turning out 120,000 silver dollars per diem.
The future outlook for silver is fat the moment blurred by the advent of the Chinese New Year, a period which is responsible for the most. varied facts and fancies foremost amongst which is the urgent need for ready cash, Whether the passing of the New Year festifed with a drop in still questionable, Undoubtedly present indications point to somewhat lower price levels for silver, but these may be found to be lesser in extent than often predicted.
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Text read from the printed page and cleaned; old type leaves the occasional error.