The Archive · 1935

LOCAL EXCHANGE REPORT Meters. Drakeford, Davis & Wilson TITER BAN JANUARY BRLIVERY Highest 1/24 Lowest 1/2

Us. os Yen Bombay, Bombay offtake 180 bars. Market closed steady.

London silver was Ys down for spot at 26 and there were no quota-Hons forward. It was reported that America took 8'per cent, of the silver offerings which exceeded Friday's. Atler the official Axing there were further remarks. New York silver was. own 1 cent. ut 69% cents and Bombay down 4 annas at Rs.5608 "The local exchange market opened yesterday morning wit sellers for bash at 12h sterling, 20% USS fand 103 yen, Due to tightness for fash, the market improved shortly After the opening to ay higher in ster Ting and 7 in USS both for the near and forward positions and remained! steady at this level for the remainder fof the morning, closing at noon wit each sellers at 1/24 and 2914, and, With good sellers for January " at] 1/24 and 29%. At the opening in the afternoon rates were unchanged, but} Shorily afterwards the market timed a shade easier upon advices of a weaker market in Dairen. finally With sellers for cash at 1/2y, 29% and 103% and January at 1/2% and 208. The Hongkong market opened sandy bt {urned slightly fret drin the course of the day.

China Molding on to Stocks Nanking, Dee, 13. 1100 Denying any large-scale sales, of silver by China in the London market, Chinese sources hero to-day point out that the silver withdrawn from elr> to culation since the enforcement of the new currency measures Is in the custody of the Currency Rererve ssi Board and its branches in various parts of China, None of these silver stocks, they jade, has lett China, nor has any'eliver been concentrated in any single port la BEepartory (0 leaving for abroad

500

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