TO BUY SILVER
NEW AMERICAN SCHEME METAL EXCHANGE RULES NEW YORK, May 14. Rules and by-laws for trading in silver futures have been approved by the Board of Governors of the National Metal Exchange (incorporated). Members will vote on May 25 on the proposed amendments to the by-laws that will provide for trading in silver futures. The market, which will be the only jone of its kind in the world, will open for trading on June 14, with the first delivery in the month of August. The contract unit for silver futures will be 25,000 ounces of 99.9 per cent, fineness. Only bar silver bearing an approved brand or marking will be deliverable. It- is- expected that the market will be utilised extensively by banks and others fo r hedging their silver commitments.
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Bibliographic details
Wanganui Chronicle, Volume 74, Issue 114, 16 May 1931, Page 7
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133TO BUY SILVER Wanganui Chronicle, Volume 74, Issue 114, 16 May 1931, Page 7
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