THE BOOM IN SILVER

Dominion, Volume 13, Issue 33, 3 November 1919, Page 5

THE BOOM IN SILVER

STRONG CHINESE BUYING. London, October 29. There is strong Chinese buying of silver on a. short market. This has forced silver to above the face value of coinage; but bullion brokers do not anticipate am- melting down as the price must be at least ss. Bd. per oz. before the operation becomes profitable— Aus.-N.15. Cable Assn. DRASTIC MBASITRKS IN FPANCK Paris, October 29. While silver is selling at 05 3-Sd. per ounce, the French authorities have been forced to lake drastic methods to prevent silver from disapneariug from circulation. A number of menl have been arrested for melting down francs in order to convert them into a fraud which is highly lucrative. Imirther arrests are expected.—Aus.-N.Z. Cable Assn. [A troy ounce of silver (ISO grains) is contained in five shilling? and a sixpence. The franc, nominally worth weighs five grammes, equal to about 7~ .1-sth francs to the ounce, or nearly Cs.l STATEMENT BY BRITISH CHANCELLOR BAN ON THE MELTERS. (Pec. November 2, 5.5 p.m.) London, October 31. Mr. Ainten Chamberlain (Chancellor of tho Exchef|iier\ states that an order lias been issued making it an offence, to m'elt silver coin or use it otherwise than as currency. It is intended to renew the nroliibiiion of its export, but it is hoped that, further action will be unnecessary.— Aiis.-N.7,. Cable Assn.