Show PROfiT TAKING IS CAUSE fOR BI BIG SlUMP IN IN SilVER METAl The perpendicular decline In the price of bar silver lIver from its recent high of 77 cents per ounce to I 64 47 H. H cents cent at the weeks week's close is attributed to profit taking kl sales of speculators u who b bought g or withheld ft stocks of silver under the Impre impression lon that immense purchases were likely to be made right away The They probably got got nervous over recent quotations and feared a further reaction be before Core the end of the war ar This undoubtedly wa wu helped along to a great extent by some of the big mining companies who had large stocks on hand and disposed of ot them at the high price The biggest demand for silver by the leading governments of Europe will probably probably probably ably not materialize until the end of ot the war when an effort will be made to re return return return re- re turn to normal conditions While there has recently been a considerable considerable considerable con con- demand for tor- bar silver this has been mainly for use In paying off aol eol- diers in foreign countries Asiatic colonies colonies colonies' col cot onies onles' and possessions and only In a degree for domestic consumption Silver has haa been heen the basis of international tJ finance between Great Britain and the far tar East the former being the place where price of silver is fixed Since he outbreak e of t the war new developments n i sd have a somewhat changed a this condition of affairs China has sold silver lIver to Russia In addition China has hu made mades a big dc- dc de deposit posit of metal as all security for tor dr drafts ns India has made fresh demands due largely large large- ly iy to the requirements for tor the paying of the native troops troops- drawn into the European European European Euro Euro- arena The growing use of subsidiary sub sub- coinage for tor the troops of the belligerent nations created an effective demand for silver sliver which was WI further Increased in increased In- In creased by the stead steady stead withdrawal awal of gold when the tha governments at war began to issue paper currency The uncertainty of warfare naturally natural caused tho the hoarding of gold also creating a demand for tor something something some some- thing thing more more substantial than the flat currency cur our rency reney which took the form of silver coins In other words silver ha has In large part replaced gold In Europe The recent de decline decline tie tie- cline dine Is due due to temporary causes but the outlook for for Increased use o 0 of the metal is exceptionally good Any temporary lullIn lull lullIn lullin in the demand and easing ot off In the price will only serve to encourage speculative speculative laUve interest and for that reason the present reaction should prove to be comparatively comparatively com com- short lived In this connection It is Interesting to note that silver sUver has always been een in I greater demand at the close of wars and for a considerable period thereafter and the present war wal promises to be no ex ex- Co Consequently there would seem I to be every ever reason to expect that higher prices will rule and continue for a a. a long longtime longtime longtime time to come Coupled with this increased demand is the fact tact that the Mexican output has las been seriously curtailed throughout the war That country country- has been the largest producer producer pro pro- ducer of silver sliver metal for tor years and the closing down of the properties together with the tile steady buying for or some months past ha has has' cut ut down the the available stocks of metal Jn In London Purchasers Purchaser are therefore turning their attention to the i United States at where er little e attention has I im been eni paid to th the metal comparatively Ie I speaking for a number of years |