THE SILVER MARKET

Manawatu Standard, Volume LVIII, Issue 9, 8 December 1937, Page 9

THE SILVER MARKET

WAVE OF HEAVY SELLING. UNCERTAINTY PREVAILS. THE JAPANESE FACTOR. (United Press Association—By Electric Telegraph—Copyright.) ' Received December 8, 8.5 a.m. LONDON, Dec. 7. Silver is in the midst of its periodical upheavals. Heavy selling, mainly on behalf of Indians, has brought down the price to the lowest level for three years.

Sellers apparently fear that the Japanese will seize the Chinese silver stocks and throw them on an unwilling market. Other holders are disposing of the metal owing to uncertainty as to what America will do when the London silver agreement expires at the end of the year. AMERICAN ATTITUDE.

LOWER PRICE FAVOURED.

Received December 8, 8.5 a.m. NEW YORK, Dec. 7,

There is reason to believe that the Treasury high command favours the fixation of a lower price for domestic silver, says the New York Times Washington correspondent. It is also learned that no move has been .made so far to call a conference to extend and revise the present International Silver Agreement, the termination of which is on December 31.

The correspondent adds that the domestic price will be among the-first matters on which President Roosevelt will concentrate for the remainder of the week.