Show SILVER AT THE TOP HOTCH highest figure of the year in london NEW YORKS explanation quoted at 07 12 1 2 cents 0 on 11 T this W a side and 30 1516 15 16 pence across the water britain hi has been buying bryin g heaitly heaviest silver exports since the civil war needed in the tb orient local mining news for the second time in this year dilver diliver touched 67 cents in new T york ark which Is also the highest point re reached ac bed by the metal during th the 0 lost last time in this year that 67 7 was the new york quotation was on april I 1 I 1 th and on tho the following day it dropped to 67 cents it Is too early to predict as to future prices but it Is generally believed locally ca lly that today will see bee no decline and there Is a strong belief that an advance will be registered broker james A pollocks private adi ices from new york yesterday conveyed the Inform information atlon that silver wourl shortly go much h higher than I 1 the present prices just lie liow w high was not stated but the correspondent 0 dent was strongly of 0 the belief that a matei lal advance would soon boon be recorded in the I 1 price or of the metal the occasion tor for this appreciation seems to be well understood der stood in new york so much so that speculators there are operating now speculators w with th the he metal and the long pockets are buying silver where they thuey can get it sir mr pollocks correspondent gives it out authoritatively that silver Is the best beat buy now on the markets market from either a a speculative or an standpoint this anticipated advance seems to be accounted for by tho the extraordinary tra demand for silver in asiatic countries the commerce of those nations requires silver as a medium tor for doing business and in addition china requires a whole lot of tile the metal to discharge the japan indemnity on account of the late tar mar between those two nations NEW YORK ADVICES new yolk oct 8 the evening post says saya in its financial review today one ot or the noteworthy incidents of 0 the day wag waa a further advance in silver bullion to 20 1516 15 16 pence on the london macket the highest figure of the lie year this Is the llast demonstration of 0 any consequence in that market since the treaty of peace between china and japan las last t T may the price temporarily touched 30 s pence that month but since then and until last week the price of silver was held almost motion less at 30 i to 30 ponce pence yet it was wa plain throughout this interval that silver allver was being beloff steadily accumulated la in london durant durans july and august when its silver exports usually predominate great britain imported by official returns more silver liver than it sent out ul in ili the same came two months exports of silver from the united states to london were gie licater shan th than in the new york weekly shipments during september reached it a still larger ae raffe twice making a a weekly total of nearly one million it may surprise ur prise some people to know that our 1 silver liver under such conditions are the largest since the cail war nor to Is there any difficulty in guessing the purpose of 0 these london buyers one object of tile the Ch chinese Incise indemnity was to provide the silver needed to redeem japanese notes floated for war pur purposes oses in korea for which redemption demp tion silver will be available it if the indemnity fund wore were to be used to fill japan itself with a silver currency the demand would of course c urge be vastly greater but the japanese statesmen ire are shrewder students of government finance than the oracles of our own preat great country |