Mohave County miner and our mineral wealth., 1920-10-23
35,O00,OO0 0zS. S|L-
 YER LESS THIS YEAR

Small bankers and speculators at Shanghai operating for lower silver pIicc2 created break from S7 1-2 to S3 l-2 cents, foreign origin, between Oct. & and Oct. II. This week the market changed suddenly with re- c0very to S7 cents. The Shanghai report was that banks there has re- fused to carry silver stocks held by speculative crowd and that in forcing the sale of this silver some of the smaller banks and the spectators had not only sold the amount carried, but the equivalent of about $6,OOOOO0 ad- ditional or short sales. It was also reported Oct. 13 that the Chinese Re public had fallen but this report came from Shanghai rather than Peking, and was not generally believed.
 The New York bid price, foreign origin, was higher during the week than in London. If the over-sales of short transactions are as large ds re- ported the effort to buy this back IS bound to produce much higher ad- vance in foreign origin silver
 The price of domestic origin silver, of course, remains at $1.0O net.
 The Mint this week purchased 276,- 900 ozs. at San Francisco. Total to date, 17,494,647 ozs.
 Gold and silver exports and inn ports from this country for the final 10 days of September show that China received $225,245 and Hong Kong $3OO,5O1 silver. Gold shipments to China, however, amounted to $1,5OO,- 900 and to Hong Kong, $23S, ,75O. This excess of gold for this period is part of the speculative position in Shang- hai. Total silver exports to Sept. 30 are $98,6S2,S27 and imports 73,496,- 929.
 In the silver and Far East exchange weakness the severest results were shown in British Indian rates. On Oct. IA the rupee rate still remained around 29.OO cents, although the Shanghai quotations were up to 1O2.OO. The situation in India is per plexirg. Political agitation against the British Empire continues and this interferes with exports. October is the beginning of the Far East ex- port season. The Chinese consor- torium in New York this week is ex- pected to have favorable influence on China's financial position especial ly, but silver requirements from that country between now and the end of the year, and most likely in early November, are bound to produce a larger demand than has existed any time this year. This is the opinion of the leading experts on Far East ern trade.
 The last weekly statement, ,sof the principal banks of Europe shows { further gain in silver holdings of $2O9,5OO. The gains were by the 1 banks of Switzerland and Belgium. The weekly statement of the Bank of 1 France, published Oct. IA, shows an increase of 6,739,O0O francs in silver.
 N' iiiuiety HSillTIdS, QlfeCCOr or Sta- tistics to the Indian government, has advised the International Financial Conference at Brussels that this years silver production is likely to be around 195,00O,000 ounces. It will De positively surprising if it amounts o this much. World production last year was around 175,O0O,OOO ounces md it is likely to be about 162, ,OO0,O 'unces this year. It was 192,OOO, ,OOO 'unces in 1918, 168,0OO,OOO ounces in 917 and 161 100000 ounces in 1916. The present world production is com parable with the record of 223 3,OOO, ,OOO unces in 1193. Indicated world out ut this year of 160,0OO,OOO to 162,- 100000 ounces would be the lowest in nore than 20 years. MT. Shirras presents his estimate f 195,OOO,O00 ozs. as justification for he adoption of fixed price on sil- CT in all member nations of the .eague of Nations.