Tombstone epitaph. (Tombstone, Ariz.) 1887-current, 1921-07-03
iNoiA'S NEW SILVER
IMPORT RECORD

Total TO Asia to date is slo.S7S.072 or
about 20.o0o.0o0 ounces.
In gold movements the Far East has
shipped si5.5.s.537 to this country, a
new high record China and India have
supplied s35.s77.95s. These Asiatic
gold movements are due both to the
need OF payments in gold for imports
because of deprecated foreign silver
and the sale of gold against the re-
purchase of silver. India has been
absorbing large amount of silver in
China and London. China is holding
its own. bu, a stronger silver buying
movement is expected shortly in both
countries.
NEW YORK. June Monagu &
Co, admi, that silver importations
into India for the first four months
o4 this year amounted to c5.oeo. .0e0.
value. or about 3l509, 600 ounces This
is a; the rate OF nelr'y $4,000. .O0O
ounces yearly. Previous 10 the war n.
iia's average silver imports were only
4a.0c0oo0 ounces.
The Chinese situation assumed con.
siderable importance II the silver
markets during the week. J. is under.
stood that the Chinese corscritum. or.
Sanized by T W Lamont OF j. z.
Morgan q Co. is likely rc break wide
open and that a new consortium o:
Chinese bankers and also some strong
interests in this country viii be form.
ed 1t i known that the Contir entail
Trust * Savings Bank OF Chicago. a
participant in the Morgan consottium
10 the extent OF $1,000. 900. has with
drawn John ]. Abbott. vice president
of that institution. is now on MS way
20 China
Another important factor IS the ex,
pected boycott in China Of all British
goods This movement is due . the
Japanese British Alliance The report
mat the British will refuse TO agree
10 any aggression agains. this ~ountry
even though !, is bouni TO dc 50 in tie
event other countries attack Japan,
does not affect the Chinese attitude
since the protect is against this al.
lance between China's greatest enc
my and Great Britain. Unless British
merchants succeed. as they did in the
recent Chinese boycott OF Japanese
goods: in mixing up American goods
with those OF Japan. this boycott
should result in greatly increased i'm.
ports from this country. 1t is believed
that there are now enough indepen.
dent Am sriCan merchants in China 10
protect themselves against these man.
neuvers
L. S. A government purchases of
silver at 81 an ounce under the Pitt
man act, amounted to but 173,OOO
ounces for the period June IA to June
%. the smallest record since the r.
purchase order has been in effect. In
our previous review We intimated that
available domestic silver for the last 6
months of this year would be around
$1,000 900 ounces.
The latest report on siIxer move.
nents supplied by the Federal Re-
serve Board June to 1O) shows ex-
cess of exports amounting to s4,977,-
746 About 1O.00O,O 900 ounces of for
eign origin silver has been used in the
trades here during the past six months
which accounts for a part Of this diff.
ference between receipts and exports.
Silver imports from Mexico were
ss21.S76, another approach to the av-
erage ten-day record. Mining opera.
tions in that country are still greatly
restricted. Canada so far this year has
supplied this country with $1,921,775
Operations there indicate 5 to s mil
lion ounces for 1921.
Silver received from Germany, Jan.
nary ] TO June 19. is but $187,553.
Newspapers refer to the large ship
rlents from that country. but appar.
emily the Federal Reserve Board is
not familiar with them.