Mohave County miner and our mineral wealth., 1921-11-25
WORLD SILVER MARKET SHY OF WHITE METAL

more than cents an ounce during the
 week and the market is fundamental | ly quite strong. The limited reaction
 has been due to reports in the Far
 East of Germany's financial collapse which, of course, is untrue. Germany
 is now doing considerable business
 with India.
 Actual transaction in either the London or New York market has been negligible, due to the fact that hold CTS or foreign silver will not sell at prevailing quotations. They antici- pate much higher prices.
 Shanghai spectators on the short side were unable to profit through the reports of the financial weakness of the Pekin government. Business conditions have actually improved the past week, and the position of the na- tive Chinese banking and business group has been strengthened because it is opposed to the present Pekin ad- ministration.
 LenoX Simpson, member of the ! Chinese delegation at Washington, made the statement this week that the failure of the $16,000,000 American bankers loan was due to the refusal of the Pekin government to authorize payment on the German-issued Hu Kuang Railway bonds. He insists that J. P. Morgan & Co. bought these bonds, probaly to the extent of $3,- 000,000, and at a cost of about $2,000,- 900. These bonds were repudiated by China when it declared war against Germany. MT. Simpson claims that the Hong Kong and Shanghai Bank relinquished all claim on $1 1,000,000 of these bonds. This statement is denied by Thomas w. Lamont, of Morgan & Co.
 Other Chinese delegates insist that all obligations of China, other than those due Germany, will be paid. Dr. ,Monlin Chang said this week that "China will pay her debts. She al- ways pays her debts, but there will be no payment until the internal pol itical situation in China is settled sat isfactorily, and no loans will be made until that time. We do not want loans for political purposes. Hereto fore loans have been obtained and the money has gone to the support of armies and the maintenance of in- fluences which have disrupted China. That must stop"
 The program in China, according to these same delegates, is financial control by the bankers and business men and a new personnel of Govern ment offices"
 The Continental and Commercial Bank of Chicago was recently mem- Der of the Chinese banking group and it is not known why it returned to the Morgan Consortium group.
 Commerce, both of China and India, continues to improve. Raw silk inn ports into the U. s. A. showed pro- nounced increases during September and October. Cotton shipments from Bombay for the past week were again of large volume. Shipments to China and Japan amounted to 27,000 bales, total of 365,O00 since Aug. 1, com pared with but 45,OO0 bales last year. Exports to Continental Europe were also large, at 25,00O bales.
 The U. S. A. is now large cotton, buyer in China.
 Wheat shipments to India from this country and Canada are of exceptional magnitude. l
 Trade balance in India's favor was reported by the British office at 93 laos for September. This is lower than in July and August, but it is a contrivance of the favorable balance rather than the reserve.
 Silver stocks at Shanhai continue to decline. For the period ended Oct. 22 they were as follows: 23,400,000 ! ozs. in sycee, 24,100,000 dollars and 1890 bars.
 Silver shipments from Europe to this country are small. Charles Hardy & Ruperti have received $600,000. .0O0 from Germany, representing, it is un- derstood, the product of mining com panies there.
 The U. S. A. Government has se- cured but 3S5,000 ozs. of domestic silver at the $1 an ounce price during the past 2 weeks. Total this year to date is 50,115,S63 ozs., and 80,023.S63 since the Pittman re-purchase order went into effect June F, 1920.
 Silver movements reported by the Federal Reserve Board for the 11-day period ended Oct 31, show imports Of B, ,2s5, ,63S and exports of l,644 ,s3o. of the imports, Ss,116,156, or about | ,A5O, 900 ozs., are from Mexico Total from Mexico for the first 10 months ,f this year is $S2,73s,SSs, or about 4 800, 900 ozs. Production for the first 6 months was 80, 0,4s9,5o4 ozs.' and for the year estimated output IS around 62,ooO, 900 o.s- Imports agree
 IA Al. .ek;roofs Total MeXlG2H