Reports from Hongkong, the writers said, stated that about 253,- 000,000 ounces of silver had been whipped abroad from there during the first eleven months of 1037. It was pointed out, however, that the figure was "in excess of actual sales attributed to this type of metals.... "There were no open market sales of Chinese coins from Hongkong to London where they are merely being held in safekeeping."
The report estimated that China sold the United States about 100,- ounces of silver under the forkenthau-Kung agreement of last year.
throughout year, but certain d En gliver from. China."
report did, "has been negligible
small amounts for private accounts, totalling about 12,000,000 ounces, have reached New York and London. As part of the silver came from Manchoukuo and Japan, and was in excess of local production in those areas, we classified it as being of Chinese origin."
Allowing for 50,000,000 ounces of silver shipped to the United States, the report estimated that silver exports from China for the year totalled 174,300,000 ounces.—United United Press.
Text read from the printed page and cleaned; old type leaves the occasional error.