Salt Lake Telegram | 1930-01-05 | Page 23 | Overproduction of Silver Causes Record Low Price

Overproduction of Silver Causes Record Low Price NEW NE' Jan 4 UP Over Overproduction production of or silver In recent months In nil nU producing centers ie ie- titHed suited In n H. Jy decline of ut quotation 1110 quo t tation for lor the metal Hint today toay In ill tho the new ne' low Io levels e at ut Now Nw York and L of or Hi 8 3 i 1 8 ind 20 J J Jd re respectively cly No reason other than exorbitant output of the metRI played playe so o Important im important Im- Im a part in iii tho recession according according ac ac- ac- ac cording to local authorities and the report of or tho the American bureau hureau o of metal statistics for Ol November 1929 9 the latest mouth month for which figures are available a bears out this con eon tent Output ot of silver in tho the United SLAtes In November Xo r amounted to fine Cine OUnCeS as compared with ounces ounce in October and ami 17 oune ounces in November Hf S. S The latest figures I S for or pro plO in In Ico which arc are for forS output of or 9 S September or show how nn an ounces ounce 3 against 91 InS 1928 ounces In September hilo November 1 1929 9 witnessed n negligible declines In iii the tile silver Cl output out oat put of or C Canada a and Peru there thero was HI HU Increase over oC November 1 1928 8 of or Australian ounces in the I production rod ii c