Show SILVERS ADVANCE DUE TO SPECULATIVE BUYING IN LONDON Chief Factor in the Rise Was the Expectation That Peace Would Be Declared Between China and Japan New York March 15ne of the leading bullion brokers in this city speaking of the recent advance in sil ver said today to the Associated Press Wall street reporter that it was due to speculative buying in London which market governs the price of the metal here The chief factor in the rise was the expectation that peace would be mad e between China and Japan I which would Increase the demand for silver independent of any war indemnity indem-nity that might be called for by opening open-Ing the Chinese trade to the world So far as his information went the London tanks with connections in the east were not stocking up with silver Notwithstanding that fact he Believed the white metal would reach a higher level The offerings of silver in this market he declared to be about up to the average and said that there was no evidence that the smelters were holding back their products for a rise The output of silver had decreased materially terially within the past two years and that fact he stated must be taken into consideration in basing any calculations calcula-tions as to the present offerings of silver compared with those of a date previous to two years ago |