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Show SILVER GOING UP. , Guggenheims Still Contending That Better Prices Will Prevail. (Denver Republican.) The price of silver is likely to go higher than it has gone for many years. The American Smelting & Refining company is doing what it can to hold up the price, and its officers hope that it will be even higher than it is at present. The fact that the Mexican government has taken 5.00'i,000 ounces of silver, and has recently agreed to purchase 20.000,000 ounces additional, will keep the price up, and may send it higher. Solomon K. Guggenheim of the New York executive branch gave out this information yesterday. H is here attending the meeting of the western west-ern executive committee of the company. com-pany. There were present at the meeting meet-ing Edgar L. Newhouse, Dennis Sheedy. James B. Grant and Carl Filers. Fi-lers. Charges on Colorado ores were considered, and-then an adjournment was taken until today. At the close of the meeting Mr. Guggenheim Gug-genheim said that the fact that the Mexican government had taken 5,000,-nnn 5,000,-nnn minces of silver had raised the orice of the metal 2 and 3 cents above the low price of several weeks ago. The arrangements of the Mexican government govern-ment to take 20,000,000 ounces more would send the price higher. "You see," said Mr. Guggenheim, "this, silver is taken off the London market, and when that market finds that it cannot get silver at the old price, it will pay more for it. We are doing all in our power to make the price go higher, or, if not, to maintain it at the present mark. We hope it will go higher. j "The 20,000,000 ounces are to be delivered deliv-ered at our discretion, and this will help the miners of this state The purchase pur-chase of so much silver practically means free coinage in Mexico, and we will soon begin making shipments. The smelter combination has had a good effect on the silver market, because it has been able to control a large percentage per-centage of the output. For instance, if it were as it used to be, any number of producers fighting each other in an effort ef-fort to get rid of their product, one or more would drop the price in order to make a sale, and the others would have to sell at his figures. "It is the same with copper. If the Amalgamated company had succeeded in uniting the other interests, the price would have been kept up to 14 qents, and air would have profited by it." Mr. Guggenheim would not say that the company had secured the clause in the Philippine bill providing for the purchase of silver, as was reported. He did say, however, that his company had helped to have this clause adopted. He had hoped that free coinage of silver would be established in the islands. He was very sanguine of the future of the white metal. |
