Montagu & Ca. state The market has continued to show a weak tendency, mainly on account of easier rates in China and the appreciation of sterling in the United States of America. The Indian bazaars have been buying for shipment, but to large extent sales of* silver have been made at the same time for two mouths' delivery. Bear covering has been carried out rather reluctantly in view of the doubtful outlook ahead. The—substantial discount at which the price for forward delivery stands indicates the little confidence which obtains as to the future. The Continent has sold, and supplies are fairly free, not withstanding the lower level of prices.
The coinage of silver dollars is very active at the U.S. Mints. During the last three months the following. numbers were coined September, 8,310,000: October, 11,- 660,000; November, 13,860,000; total 33,830,000. It is probable that no subsidiary coins will be struck during the current year.
The silver quotations to-day for cash and forward delivery are respectively 7: d. and 4d. bellow those fixed a week ago.
December 27.—The market has naturally suffered from the prox-unity of the holidays, though that can hardly be held responsible for the price for forward delivery creating a fresh low record for the qviear, namely, 204d. on the 22nd instant. This quotation is the lowest. since May 9, 1919; on that date quotations for two months' delivery weve resumed for the first time since July 30, 1914.
During the month of November, exports of silver from San Francisco to China amounted to 4.154.006 oz.
In ow' Bullion Letter of October 26 last, we referred to a statement by the American Mining Congress of a discovery of silver near Fitzgerald, Alberta. The Canadian authorities, however, inform us that this discovery is of small importance.
The silver quotations to-day for cash and forward delivery are respectively 7d. above and id. below those fixed a week ago.
Text read from the printed page and cleaned; old type leaves the occasional error.