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Show SILVER lit AFFEGTSSTOGKS Securities of Companies Producing White Metal Make Rise in Value. There is now every indication that the long-expected upward movement in silver sil-ver stocks is starting on the New York stock exchange In the stocks of those companies which derive a large portion of their proiits from tho production of silver as a by-product, says Gordon Hall in the,. Now York Telegraph. The world's recorded high price of silver was reached in London yesterday at C4 pence an ounce. At the normal rate of sterling exchange of 54.S6 to the pound sterling, and with the price based on 909 grains fine instead of 925, as in London, that figure represents $1.35 an ounco in New York. The actual quotation quota-tion in New York yesterday was Jl.lb',4 an ounce. The great strength of the silver market and the fact that demand is far in excess of production practically assures long-continued long-continued large profits from the mining of silver, which costs from 30 cents to 61) cents an ounce to produce. Companies mining copper, lead or zinc, with silver as a by-product, will be able to largely make up any deficit' in their income from the mining of other metals from the vast profits that will accrue from their silver output. Such companies as Anaconda, American Amer-ican Smelting & Refining, United States Smelting & Refining and Cerro de Pasco will be specially benefited In that respect. Last year's silver profits were based on silver at 97 cents an ounce. The average price for 1919 will be much higher. The significance of the advance in silver sil-ver this vear will be appreciated when it is recalled that the American Smelting & Refining marketed over 72,000,000 ounces last vear, the Anaconda over 8.000,000 ounce's and the United States Smelting & Refining over 15,000,000 ounces. The last named company is vastly increasing its production and has also purchased additional addi-tional valuable mines. It is apparent that investors are commencing com-mencing to appreciate this situation, and the stocks of producing companies are now reflecting the improved condition due to enhanced profits from the high price of silver. The following table shows the advance In the stocks on the New York stock exchange ex-change since September 20: Sept. 20. Sept. 30. Am. Sm. & Refining $6914 $73 . Anaconda 65 6S Butte C. & Z 11 13 Cerro de Pasco 52 60 Con. In. Call 16 18 Greene Con... 41V4 423,i Greene Con 6 7 U. S. S. & R 6S 72 And it would appear that a further advance In some of the above is justifiable. justifia-ble. The expected movement in the silver stocks on the New York curb has not taken place solely on account of labor strikes in the great silver camps of Nevada Ne-vada and Idaho. |