Show SILVER CLIMBS TO YEAR 5 HIGH Treasury Buying Kept Price From Falling 10 Cents Review States St tes NEW YORK Jan The CUP UP The future future fu fu- fu ture price pric level of silver depends largely upon the volume and rate of ot United States treasury department purchases and the silver sUver market will win show great steadiness as 35 long as the United States remains a buyer the nineteenth annual review of or the silver silver silo sil sil- sil ver market by Handy Harman bullion experts said today The review set the 1934 j silver ilver price average at New York at cents a line fine ounce a new high since 1929 when the average was cents It compared with cents in 1933 cents in 1932 cents In 1931 and cents in 1930 World silver supplies or production in iii 1934 were placed at ounces against ounces in n 1933 Other supplies amounted to 4 ounces against ounces in 1933 and included sales sates by China sales by the Indian government and ounces ounces sales by the Ru Russian ian government Shanghai silver sliver stocks declined sharply from a high of ounces on June 9 to ounces on Dec December m er 29 largely because because be be- cause of the United States Stales policy of silver purchases Had it L not been for treasur treasury department department department de de- de- de purchases the review said we are o of the opinion that during 1934 the price of silver sHyer might well have declined 10 cents an ounce instead of at advancing ad that amount And barring a change in economic not now in evidence it would appear that the market markeL level for some time to com come will be dependent dependent de de- de- de pendent upon the continued support o of the United States |