The Archive · 1939

BAR SILVER

London pence per std, oz.

198% N.Y. cents per oz. troy Bombay Rs. per 100 tolas 51.12 Bombay offtake 20 bars.

London silver was unchanged both ready and forward, being 19% for ready and 19y forward. New York was unchanged at 42% and Bombay was 1 anna up at 51.12.

It was reported Indian and speculators bought and sold. Business small. Market. quietly steady. After the official fixing the market remained steady. The American trade bought and bears covered at myth over the fixed rate. Sellers were reserved.

The local exchange market opened with sellers to merchants at 63% sterling and 13 U.S.$.

The Interbank market was steady and rates for cash-and-June appre—ciated to 6% sterling and 13) U.S.$, but the buying power even at these rates was limited. Business for July was active and rates ranged from 6% to 6}. At the close the market was steady with sellers at:—

6% sterling 134] U.S.$ Cash/June a 12H, July 160 Wheelock 100 Tram (Bearer) £1 500 Kaiping ai Power (Pref) (Ord)

'600 Ewo Mills (Ord) (Ord) 1,000 Java Consolidated opp Lots 24 Wheelock 20 Kaiping 3 S'hai Power (Pref) 20 Tram (Bearer) £1

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

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