By the last mail two of Messrs. Samuel Montagu & Co.'s reports have come to hand, those of February 26 and March 11. Writing of the position on the former date, Messrs. Montagu say
against its note issue is £109,713,890, The Bank of ce reserve another substantial increase, on this occasion of £1,977,270.
Gold has not been available on some days, and was therefore quoted only "nominal" on those occasions. The demand has emanated almost entirely from the Straits Settlements and South America.
An Indian correspondent, under date January 20, informs us that the up-country demand for gold was 50,000 to 60,000 tolas a day, and that, in addition to Government offerings, there was a supply of American gold dollars, sovereigns and English bar gold, believed to be smuggled. Reuter telegraphs that a sovereign is worth 37 shillings in the Aden Bazaars, and it has been reported that there is a ready market for British sovereigns in Mozambique. The Customs at Rangoon, in order to prevent illegal importation, seized about 2.500 sovereigns and 3,000 American 20 dollar pieces on the str. Hongmoh.
When we remember that the ni int value of gold before the war was 1395 German marks the fine kilo, the statement. of the "Neue Zircher Zeitung" that gold has changed hands in Germany at the rate of 67,000 marks the fine kilo. is.a powerful illustration of the financial collapse of that country.
Text read from the printed page and cleaned; old type leaves the occasional error.