OCR Text |
Show MET Pi SILVER SWIG STRENGTH Metal Selling Agencies Report Re-port Firmer Undertone Due to Buying. Metal soiling agencies both in New Vork and San FYancisco report an unexpected, un-expected, mysterious buying' movement a nd a consequent firmer undertone to the market for silver during the past weok". An Increased demand for the metal is reported from (iermany and alo from China. Sailings from San Francisco to China are beginning to resume the normal schedule which was in effect before the declaration of the Kuropean war and it aid that regular shipments oT bar silver will lie made to f'bina. 1-tar silver is selling sell-ing a rou i ul 4S cents per ounce, an ad -vance over the .quotations during the earlier parr of the past week. The most important item of interest during the past week affecting silver was t'ne announcement from Germany that the imperial government had issued 60.-OOO.dOO 60.-OOO.dOO marks in one-mark p liver certifies certifi-es tea, to be covered later by deposits pf silver bullion. On (he present basts of exchange, this is equivalent to $11.', 7-5, 000 to $i;i,tK0.0fiu in gold. Coincident with the announcement from Germany, Important banking Interests in the United States entered the market and announced their willingness to take over a considerable quantity of silver under ninety-day options at -IS and -4 Si cents fl n ounce. The options were not forthcoming. forth-coming. Instead, the - price of silver metal, which is largely held in the hands of smelting interests In New York, was advanced ad-vanced fractionally. The Netherlands mint late in January took a little over 40i.000 ounces of silver, sil-ver, according to London advices. Some further improvement is expected in tbo silver market when the embargo on grain ia removed In India on March 1. The moving of the crops in India in the spring of the year usually calls for considerable con-siderable shipments of the white metal to that country. This transfer of silver to India has already al-ready commenced, a shipment of sterling bars of a value of 2' '0.0') having b-en made from London on January 15 to Bombay. Bom-bay. Another encouraging feature of the silver sil-ver situation is the fact that exports of silver from San Francisco to China have hen resumed. The Korea, which sailed from Sa n Francisco recently to Hongkong, Hong-kong, carried 554.000 ounces, snipped by The San Francisco banks for exchange to China. This will considerably relieve the oon ares ted condition of l he silver market in Stu Francis' o, v'.-re iarce stocks have accumulated, principally from the Tono-raa Tono-raa mines. |