The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1910-01-31
SILVER LAST YEAR
WAS QUITE STEADY
Average Price Was Low, With
but Slight Fluctuations
Noted.
PROSPECTS ARE BRIGHT
FOR CURRENT YEAR
India and China Now Show En-
cOuraging Improvement
in Trade.

Pixiey & Abell's annual London circu-
lar on the worlds silver market deals as
| follows with 1909;
feature Of the year was the com
90 ll-l6d, the lowest on record. against
"a 1880 in 1908 and 80 Sled In 1907. Tho
pfevlons lowest annual average was
The Improvement which took place
during December. 1905. was continued
during the early weeks OF January, and
the quotation rose from % 3-1ed, the
opening price of the year, to 24ad on the
18th OF that month. From that point
the market declined, mainly on sales by
CHINA. until. on March L. % 1-1bd was
quoted. During March fluctuations were
small but April and the first week of
May saw a steady Improvement, due 10
purchases both by China and the In
dian bazoars. which carries the quota
tions up TO 246d. The tendency was then
again dow,nwords until early in July:
when at about 23ld the market remained
very steady, with insignificant fluctua-
tions for period of about seven weeks.
From then there was n slight improve
ment to 2id. which was quoted on Au-
tober the market s8gsed slowly, until. in
November prices steadied at about 23sd.
During December on important buying
for the continent and extensive covering
by Indian Spectators. q decided improve
ment was established which for few
days carried the quotation TO "a 5-16,
midas Purchases.
Shipments 10 India, though less than
in 1908, continued on a large scale, and
amount to about G6,I50,000, while the
stock held In Bombay is now c l,ooo.o 900
with nearly a50O,0O0 on the water,
against a stock OF 6 400 900 and .eS40,00o
in transit at the end OF 1908 With the
excellent crops of cotton and other prod
uce In India IL Is anticipated that there
Will be large demand for silver for
jewelry and boarding during the ensuing
though. Judging Increased
shipments of gold TO India during the
last few months IT II Is PTq6aeIe that G
absorb the savings of the people.
The speculation TO which we referred
last year continued until recently and
at one time 1t was estimated that In
market TO the extent Of 60 600, 900. Dur
Ing the last few months however this
has been largely liqudated. and the
amount now open can be but trlflng;
This buying was probably the principal
cause of the steadiness of the market
during the later months of the year.
China's Part in the Market.
China has been a larger and more i'm
portant buyer this year than usual.
though at times when quotations have
suited. she has sold freely, III addition
TO her operations on this market. she
has also bought and sold largely in Bonn
received upwards of cl, 100000. against
g 100, 900 In 1908. The low rates OF ex
change ruling in China have again ad
Verscly affected the import trade, while
exports for the same reason have been
stimulated The country has been IA
vored with excellent crops and the banks
have been obliged to buy and import sill
yer freely to pay for their exports.
Shipments OF silver from London 10
China during the year amount to nearly
900. 900. against es21 900 In 1908 but
these figures are not necessarily correct.
for silver shipped to China from Lon
don Is often diverted while In transit to
India while shipments TO India are In the
same way diverted 10 China. y few pur-
chases have been made by the coun-
tries comprising the Latin Union, but
purchases by the American. French and
Mexican governments have been practl-
cally nothing.
A Forecast.
Though il is always difficult to fore
cast the future OF the market with any
degree OF confidence. yet II seems prob
able that apart from any unforeseen fac
tor that may arise, the average price for
the new year will be somewhat higher
than that OF 1909. The general improve
ment In trade which is now becoming
evident the world over especially In In
dia and China where silver plays most
important part, and the tendency OF sew
eral states 10 increase the amounts OF
silver subsidiary coinage In circulation,
and so relieve the pressure OF their gold
reserves with profit TO themselves, should
lead 10 q good general demand for silver
during the year 1910.