Salt Lake Telegram | 1911-09-27 | Page 8 | Uniform Silver Prices Made by India Syndicate

DC! SILVER - Fr.:cts hade by i;:dia syndicate . The allver market during the prsaent , year haa beaa characterised by a dear of monotony and uniformity of price, which seems to be In part the reeult of th operation of the Bom her syndicate, the altecta of which ar (till felt. Not-wtthstandlng Not-wtthstandlng th law atock which the evndlrate held at the eloee of HIS. th buvlng br India thla year haa been large; China ha hceo only a light purchaeer and at time a eeller, but th amount war not large enough to afreet the market. mar-ket. Apparently th eyndlcete ha made no special effort to market It stocks, thouch carrylnc them muat have been a pretty heavy burden. It hand, however, haa been felt In the maintenance of price, especially during th last month or two, during which ther haa been much uncertainty as to the outlook for th Indian crop. The buying thta year haa been altogether for private account; the Indian government haa not been In th market, and Ita expected purchases for coinage have not been made. The Chinese currency reform drags, as such plans In China sr apt to do, snd has j - not yee reached ne woVne snere serese alderahl purcha.es of silver are required, according to Mining- and Engineering ar Journal. Th export of ellver from I,ondon -to th east, on which the market en largely depends, were as follows for tha sight months ended with August: India lilt. 4 m.&OO; llll. eS.HS,7; Changes. I. 1,04.100. China 111. 1.111.501; 1111. 141,700; than. D. li.00. Total 1910. i.l 1.000; 1111. ,i:.400; chsngsa, I. 111.400. . A pp. ounces 1110. f? JM ISO; 1111, t.Ssf.WO: changes. 1. I.OU.400. The approximate quantitle are ealcu lated at th average price In the London snerket for the eignt montns. ' Tor the United Btstes the figures tor Aiurust sre not avail, hi. ; but for the men month endrd with July the total esoorta of llvr Increased from WJ.17!,-k WJ.17!,-k In valu la 111 to .14.TII.:il In llll: th Increase In approximate quantities being from U.U1.IU ounce In 111 to ?4...ie ouncee this year. A Isrcs part of these exporta ara or silver refined here tnm bullion received chiefly from Mexico. Central snd Sooth America. The net ex .porta, which may be taken to represent shipments of silver prodticed In the 1nlted Htatea. Inereaaed from ts.4l3.tM approximately 12.:ai .AOfl ounces In 1110 to ll.si.la or ;.mi.;.o ounces this yesr. Bllver from the t'nlted fttates usually constitutes from 7i to 10 per cent Of the total British Imports. The proportion of American exports direct to China la verv smsll. The uniformity of the market la evl- 1 Vnt when we find that the aversae prices fnr the e'rht months In IBl" and 1911 ditTered ontv hy .S4d In london and 14c In New Tork. Th highest monthly month-ly average In New Tork this year was Y 7 V) in January, and t he lowest si J-'2r In February; these extremes comparing com-paring with 61.4 Mo la March and 4.1e0c jln July last year. f Present conditions show no sign of an erlv chsnae. Unless there should be a break, which la not now anticipated. It loks a if tha current level of about 21 In London and --'o In New York srnght be maintained for some time.