November 16.—The downward tendency of the silver market, to which we referred on the Sth inst., has since continued and the price to-day is 32}. as against 33.4d. a week ago. During the week, both India and China have bought and} sold alternately, India buying for early shipment and selling forward, whilst China has been selling forward and at the "ame time there has been some bear overing from that quarter. It_is however the selling by America which has really turned the scale and caused the weak tendency, offerings from there being much larger than they had been for a very long time.
Stocks in Shanghai remain heavy and we see no prospect of them requiring much silver there at present and in view of this we still look for lower prices. India's demands have been partially satisfied by sales from China and that demand alone is not sufficient to absorb the amounts now coming the market.
There has been a small demand for gold for India and the Continent, but most of the arrivals have been taken for New York There has not been much variation in the price, which to-day is 92/4 per oz. fine.
Text read from the printed page and cleaned; old type leaves the occasional error.