Salt Lake Telegram | 1932-06-01 | Page 13 | Silver Situation Shows No Change

SILVER SITUATION SHOWS NO CHANGE According to the silver expert of Hentz Co New York there was no change e in the situation in London London London Lon Lon- don last week The continental demand demand de de- de mand continued to be very small no arrangements having been concluded for financing sales to Germany Arrivals Arrivals Arrivals Ar Ar- rivals were light Moderate quantIties quantities quantities ties were purchased by India in Lon Lon- don Chinese speculators both bought and sold in London In the early part of the week China markets were firm both for spot and forward Later however Japanese banks are reported to have sold silver silver sil slI sil- sil ver vcr and the market became de de- de pressed Although the truce has been signed there was no inclination to proceed with the nece necessary sar activities until the Japanese troops were out of Shan Shanghai The change in irs the political political political po po- po- po situation in Japan and the possibility possibility pos pos- of the military party abrogating ing the settlements arrived cd at by civil authorities has been an unsettling factor in the Chinese situation Developments Developments De De- in the next fortnight arc are expected to settle once for lor all the near prospects in Chinese political af af- af fairs lairs The banks continue to hold on onto onto onto to their stocks o of silver the total this week at ounces being the hI highest hest for six months For the first time in I several everal months India traded in London and bought about there The stocks In the bazaars have declined from to ounces But the riots in hi Bombay and the rest of the country put an end to the purchasing activities of the Bombay market markel Gold shipments from Bombay Bombay Bom Born bay have once again been revived although in much smaller quantities than before purchases up-country up ha have hae e now flOW to be made directly with silver Even the gold shipments have now been beeD temporarily suspended The position of the government of India remains about the same as before beCore Silver production during April was wasas wasas wasas as follows United States II ounces Canada 1 ounces Peru ounces and Australia ounces Mexican production during March was ounces The United States production for the first quarter was ounces as against ounces in the same period of ot 1931 A number of mines and smellers smelters have arranged to close operations on June 30 The output after nIter that date f for r the United States and md Mexico is expected to be less than one half of normal It is reported that thal Peru is now off oft the gold cold standard