Lack of Stamina and Little Hope for the Future: Pittman Act Purchases Writing from London on November 30, Messrs. Samuel Montagu Ao. state with regard to the silver market The depression that is now resting upon the market has carried prices lower than any touched since the spring of last year, when, between March 2 and March 11, prices dipped below 32d., reaching on March 5 30$d. and 304d. for cash and two months, respectively. he fall was then transitory and a quick recovery ensued. At the present time, the factors at work do not appear to be in favour of a similar reaction. The very fact that a change from a market practically all sellers on_ Tuesday to one of buyers on Wednesday only raised the quotation for forward delivery yd. is an indication of a, lack of, stamina which does not augur well for the future.
The strength of the sterling exchange with the United States of America brought out silver with some freedom during the week and India re-sold some previous purchases, being able to secure supplies cheaper from China and Australia. hina and the Continent also sold The main support still comes from bear covering, Indian or otherwise.
It is reported from Washington, under date of November 21, that the total amount of silver acquired by the Government under the Pittman Act was 141,693,576 oz., including a purchase of 70,000 oz. on that date.
The total exports of silver from! San Francisco to China during the month of Octuber last amounted to 8,210,402 02.
Canadian silver bullion exports during October totalled 1,320,000 oz.; the amount of silver in ores and concentrators exported during the same period amounted to 916,000 oz,
Text read from the printed page and cleaned; old type leaves the occasional error.