| Show M MINING INING THE TE NEWS CAMPS FROM AND ALL AI ON STOCKS WITH PRICES PRICE THE FLASHED LATEST MARKETS J QUOTATIONS F ROM FROM LEADING LEDING PRICE OF SILVER SIL YER HOLDING DESPITE DESPIE SOME SPECULATION r Sliver Silver mine mino one owners are much pleased with the high price attained by this metal and the fact tact that It I is maintaining higher high er figures over ove ovea a greater period perio than 1 witS was s anticipated When hen the tho metal began to climb and finally wa was marked marke up to a fraction j 60 GO cents centI an ounce a maJority majority ma abo of the opinions were to the effect ef effect ef- ef feet that the move was waa purely a a. speculative o InU matter Developments Dc to date Inthe Inthe In Inthe the white metal market have proven that these thee opinions were vere not well wen rounded founded a athe as the price Is Ia still BUl at at least 6 cents an ounce higher than the average price of last lat year ear That there thore has been some speculation In the metal Is Js not denied Edward Ewar Brush vice Ice president and as- as to the thern president of or the American and Refining l company 1 Is 15 universally uni uni- e recognized as a high authority aly lu In the tIIe sliver silver Iver Industry In a letter leter M Mr Brush Brusi discusses discuses the subject now being agitated as follows tolo's I I can eRn only say that personally I 1 do donot donot donot not believe beleve any permanent good go could come to the silver diver Iver industry from speculation lation In Wall Wal street I 1 am confident I that hat th speculation Itself would prove ve In a very short time as It necessarily could Cr not be z a a large larce Item Iem and any forced selling would always find finda a very limited toree market Anything of or that ver nature Is Js not considered good 00 collateral In Wall all Pal street which would discourage ge speculation So far tU as a making the New ew York rork price of ot ell r govern there govern there there Is I no reason to believe beleve on my part that the London quotation quo QUo- tation would not govern under any cir cir- cir cir- Speculation must mURt bo be based In JI the finality upon the actual tion lion The actual con consumption of or sliver silver sl er ROCS oes through London for lOr financial reasons rea rea- sons and the only silver that l London has hs Is the silver siver that It i gets gots from New Tork York Now of course New York might start tart in row to hold silver and make London Lundon rome fore to terms and pay pa a higher price If It this thin were based bae upon upon some Increased such as Is expected In In India India India In- In dia dia at At the present ent time and later In China it would succeed If Ir It were ere not based upon such new and Increased con- con it I would fall all raJ The ba basis l of or lie h In crated consumption Is In the east would e for tor financial reasons pass pas through London anyway and this Increased consumption con con- would have Its Is effect upon the price ax as aj it has his had whether tho the New NewYork NewYork NewYork York speculation was vas wa In question queston or not Few Fow people In New Ne' Ne York realize ex exactly tX- tX ex- ex what what makes the tue London quotation The to total t I business done In the c clearing house houte which fettles fettes the pi ice of silver is Ie only about abut one tenth one tenth In silver which represents th tho actual movement of ot bar silver and the other tenths nine-tenths Is the exchange business representing the whole commerce between Europe and tho the east This who whole exchange Is sold in so 80 man many pounds sterling of silver Elver at so 80 much per pet ounce The Tho sellers of or exchange necessarily necessarily rl rily carry caro on the aera average a a large amount of ot silver lver as RS tho the basis basin baIR of or their ther exchange transactions an as an Insurance fund NOto so NO soto soto to speak but hut the they are always willing to take risks in running such stocks tocks down and the they always vas va's wu will do so whenever the they t feel e that an abnormal pries price is being bein made made purely a as a a speculation without an any basis back buk of I is it i. i There no such luch situation sit sit- It in ln Ne New that from Irom York so 0 every Ver standpoint point I can van see pee eo neither any encouragement for th the speculator nor nor for Cor the producers of silver In the suggestion These Thee are ae my personal views |
