Salt Lake Telegram | 1921-07-03 | Page 22 | Germany Ships Silver to U. S.

GERMANY SHIPS SHIPS' en OIL SILVER V tit TU in II U. U S. S c cOIL I Movement to Accumulate Dollar Credits for Dolar Reparations NEW TORE TORK July 2 Recent 2 shipments shipment of or silver YORK bullion from Ju Gorma to this market market mar mar- r bulon relation to efforts to HC cc ket h have ve some omo of or cumulate dollar credits toward payment reparations dolar While consignments reaching New York h have ve had their origin apparent apparently not they are aro transactions I ly In private ao without German government Interest last talt few lew months month several ship this hi port consigned consigned con con- mint merit of silver have reached signed from German banks to New York York bankers And nd bullion dealer dealu Ono One Importer has bal banker received seven even bulon consignment the lowest low low- est eat It valued at marks makl and the hi highest hut marks mark This concern which deals deall In la metals metal and Ind ores ore expects expect to receive e not oot let less than t two to o consignments time a month for some Much tuch though Ime not all al of this silver t 1 Is I of ot native O German origin The German government government government govern govern- ment does doe not permit more than SO 50 6 per cent of domestic tou silver to be exported Partly I Ia Las a a. a a result of th this I. I restriction and also allo be cause of le lessened ened demand l for silver In Inthe Inthe inthe I the art arts arta and for tor coinage market price of nf I silver liver In Germany In is II below world market price Ver Were such auch conditions to arise In normal nor nor- nor nor-I mat mal a times this thi silver I e would o have been O sold old I In Ix At lt present t a factor t v. v still I further r tending to send this silver here her Is the clr CU e that the London market markt 1 Is II now restricted b by heavy heny Import duties All Al things thing considered and the necessity of accumulation I tion of ot dollar credits credit on 01 account I New York dolar becomes become the bent beat market maket for this German silver I IAl All this Ilver silver Is la not riot tho the product of I Gorman German Al mines mine and perhaps not even th the greater part put though U It I I. I alt all al the product of Ire German refineries Much Such of the metal hat baa been ben shipped In form of silver lver bearing burinI ores ore from South America and other places to German ier und under r contract that the tho thO silver content of tho the lead copper coppe or other ore Is II not riot sold old but upon separation becomes th the property of the New York metal dealers dealer It Is I. sent nt hero here In form of bars bar When the tho 1 sliver liver I Is sold lold In this market credits arise which are available to German bank