The Archive · 1933

EFFECT OF ADVANCED SILVER PRICES Large Shipments Sent to America

Washington, June 19.

Advanced prices of silver which ruled in the futures markets of the United States during May attract. ed_ large shipments. from abroad daving that month and the record of imports was the highest im more Gham four years.

Much of the silver imported was from China and. the net profit to those who sent it to America was described as handsome.

During "the month, the total amount of silver received at the Yatious ports of entry represented 4 value Jin United States currency $5,275,000. "Exports in the 3 month amounted to only G.$235,000, Reports of the Department of Commerce showed that gold movements into and from the United States were at a minimum. The im ports amounted to G$1,785,000 as compared with G.86,769,000 in April when the United States war seather-Ing in its gold coin and and cer-Aiffates from all possible sources.

The report showed, however. that the United Statex had shipped a considerable amount of gold abroad facilitate "American business in foreign countries during May and the fatal was €$22,924,000. The old exports in May, 1992, totalled That. sufieient gold war shipped to enable American business-men to Thandie their business properly was evidenced by the report. showing thatthe May exports totalled G'$114,000,000". compared with 105,000,000 in, April. It wax the first gain for the month of May lover April since 1928. Of the total exports, cotton represented a value Jot "$20,000,000. "The. April cotton exports amounted to 6.$16,000,000.

Tmports showed. a. corresponding ner ease and totalled G.$107,000,000 compared with G.$88,000,000 in April.—United Pres

Text read from the printed page and cleaned; old type leaves the occasional error.

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