Dec. 16.
Business during the period under review was a little better than the previous week. With definite news {0 influence the market tittle activity was witnessed and the past level was maintained with row Muctuations. the whole this market was not much _affec ted the world's silver news, sequently it showed no fixed trend at al to the prevailing uncertain teresting and narrow market with a slow decline toward the close when the price which was maintained around $1,148 throughout the day sagged to $1,14030.
General weakness in the world's silver markets w ible for the rise in the local Gold Bar Market Jat the commencement of trading on HTuesday, but when the Custom Gold Unit was reported unaffected condence was soon regained and the market dropped from $1,147.90 to $1,142.60.
For practically the whole midweek session quietness prevailed with the market. steady at around $1,144.80, but toward the end of the morning Bombay silver forecast reporting 2 considerable drop in their silver market set a bullish tendency in the market, and a steady upward movement was started. Later cash bar dealers buying heavily shot the price to $1,153.80, but longs taking advantage of this high level soon foreed it down again to $1,151.00. However, on the following day long commitments held the market up to $1,155 in the early auctions before they commenced to take profit owing to. the continued weakness in the Jworld's silver price and a large rise In the London Gold Market. The market then declined to. $1,147 and Femained practically dosd at about this level for the rest of the session.
Excessively dullness prevailed dur-jing the last two days of the week on Jaccount of lack of definite news and the change-over, which was quoted officially "on Saturday at $9.60. in favour of shorts, but a slow downward trend was apparent up to the Jchange-over due to liquidations by longs who were not willing to pay the high premium. Prices ranged [between $1,146.80 and $1,142.60 on Friday and on the last day fluctua~ Nous" were limited to between'
$1,190.80 and $1,143, ington by Senator Elmer Thomas, one fof the leading spirits in the _pr mulgation of the United States Silve: Purchase' Act, who declared, in an Interview, that the silver situation was} the result of an attempt by Great] Britain to get the world powers, including China, to tle their' currencies sterling ai the expense of the Senator Thomas said that Great! Britain had sent Sir Frederick Leith-Ross (0 China, and he had convinced Naniking that it would be a good plat for China 1 goon a managed curency tied xo sterling and to sell silver fo bey gold.
He added: "They have made suck: ers of us long enough. 1 think. Tt is fine thing for both silver and the United States to have this showdown. The United States is doing exactly right in not buying silver.
"Why should we help Great Bri to salve China's problem to the vantage of Great Britain and to our lown disadvantage?
The collapse. of]
silver markets is the finest thing 'a. standpoint of eventual stabilization of world currencies."—
Text read from the printed page and cleaned; old type leaves the occasional error.