Tombstone epitaph., 1920-10-10
GREATER PROSPERITY
 FOR SILVER COMPANIES

u'fth the more pronounced decline ia she commodity prices this week note of more pronounced optimism was sounded in the silver and gold mining situation. The Wall Street Journal" and other financial publica- lions call attention to the rather ex. ceptional condition wherein silve, companies in this country are assur- ed of $l au ounce silver prices aJ least for the next three years whic production costs have already decliE. ed and are bound to decrease stid further, With the gold producers the
 fixed price" is the old standard ifs ure, but lower production costs will, of course. make this "iixed price more attractive
 The Landon-New York.ioreign orl. gin--,yer market remains rather quiet around 59 10 5S l2 pence U.ondon) and g2 |. to 9i cents tNew York;, Vl;h sterling exchange al s3.i7 to s@-5o |, is waiting market. how. ever auc developments during th s period Ohe past three weeksl have been conducive to further s;reng n Vj;h the opening of what is generally r-gaded as the Ocloher.FAr Eastern trade movement
 In The pas, three weeks Coba', si.. yer compsnie, have disposed of more ,hau s2S0o,eOo iu silver, our Mint ha secured nearly 3.coo,ooO ounces of do- nestle origin silver and leading Eu. yopean banLs have increased ,h,.r -ilver reserves more than sl.6S>.Up1.
 Demand for foreign origin silver coside tnat Of the national bank o' Germany. Holland, Switzerland anl spain ls confined 10 China with mod. crate amounts going 60 commercial Hsers in this country. The shanghai ra,c ho.ds strong despite shipments si more than $S.oao.oeo. silver 10 Ch.. na Tn the past three weeks. Silye- supplies al Shanghai also ire still low. Gald buying for shanghai is also pro- nlunce The constant increase in hu> ne-, between this country anl China Is source Of considerable >u:, p0.sr even to those identified Vi,h cx. pur' and import trade Total valus O, import, from China Nas sSslla- 1oa compared with s6>s.5ooo las. year and S&i,oo0.oo0 TWO years ago
 silver stocks d, Shanghai are es-l. laated by Us. al s3.soooco ounces in wee and 24.2oO,ooo dollars, compared WIth aaSoo.ooo ounce, sycee aud 2..- 5Ooe,o dollars a, The begnuing O: Septemner
 Total purchases of domestic sil,,- by the | S. Mint May r 10 S-p'em- bcr 9,. are Ij6ai647 ounce. leaving a ba;snc. of lsI.36-.a5a ounces s,Ei ,, be secured under the provisions ol ;Ae Putnam ac,
  > The weak spot .a jae tore.-u origin s.iyer mafHe' Is that of India While inc la'es; reports on he monsoon ar favorable speculators there are activ. .ou The bear side anu Duii!,h on the gold side |, is the opinion of bullion expert, that October trade season will force these specuia;Ors Co taae th. long side on the silver position. Spectators .n China are operating al. most in direct opposition to the h. dian specu'aiors and interesting de. yelopments are likely.
 The gold position of European banks is attracting more attention present because of the abnormal need shere of both gold and silver and the {; heavy withdrawals by the United | states and India Total gold holding- of the F yead!ng banks Of Europe have declined from s29l5.s2l.67l 10 s2.sO3 .s70. 800 in the past three weeks II is estimated that France alone will lose s25DO0 600 gold in the next l5 days through shipments to this coun- -try The Bank of England shows pro- nounced gains in gold holdings for the past year. but the French government has within the past ten days with drawn some Of the gold deposited in England.
 Total Of gold movement from El rope to this country n the past six weeks is estimated around s32 100000 and Al least s9,5G0.0 GOO of this Is ear