SILVER CRISIS

Evening Post, Volume CIX, Issue 56, 7 March 1930, Page 12

SILVER CRISIS

EXCITEMENT IN SHANGHAI

(Received 7th March, 11 a.m.) SHANGHAI, 6th March. With the silver market continuing its giddily downward course, it is now at an unprecedentedly low level, making the Chi ■ nese Government's financial experts fran tically seeking for any and every possible means to alleviate the position. This is the worst exchange situation in all Shanghai's history. A ban on the importation of silver has been suggested. BIG BEACH GOLD. A report from the secretary of the Big Beach Gold Mining Company states that since last report 40oz 17dwt of gold have been secured. DROP IN TIN. British Official Wireless. RUGBY, sth March. The price of tin to-day fell to £162 16s 3d per ton, which is the lowest touched since September, 1922. The increase in the visible supplies of the metal recorded at the end o£ February, despite the curtailment of production, is responsible for the continued decline. AMALGAMATED WIRELESS DIVIDEND. Directors of Amalgamated Wireless (Australasia), Limited, on the 4th March, declared an interim dividend at the rate of 8 per cent, per annum on the paid-up capital of the company in respect of the six months ended 31st December last, such dividend to be paid on the 24th March, 1930. , . PATRICK'S DRAPERY STORES, LTD. Patrick's Drapery Stores, Ltd., formed last year to take over the old-established drapery business of D. S. Patrick, Cuba street, has gone to allotment. The secretary of the company reports that no syndicate or bonus shares have been issued, and there is no "loading" for goodwill. The registered capital of the new company is £65,000. A new building is to be erected at the corner of Cuba and Vivian streets. The directors are Messrs. D. S Patrick, G. W. Willey, and T. Forsyth. INCREASED CAPITAL. Rubber Distributors, Ltd., Wellington, I has increased its capital to £0000, by creation of additional capital of £2000, into 2000 shares o£ £1 each. REEFTON GOLD CLEAN-IJP. , The secretary of the Dunedin Stock Exchange has received a telegram from the secretary of the Alexander Mines, Reefton, stating that the mines' clean-up for February was 340 tons of ore crushed for 252 oz, 7d\vt of melted gold, and the cyanide plant treated 252 tons of sand for 970z 3 dwt of bullion, a total estimated value of £1245, ... . ■ J