Quiet and Tnactive: Senators A xious (0 Allocate Outstanding Amount of 14,000,000 Ounces Reporting from London on April 25, Messrs. Samuel Montagu & Ca.
The market has been quiet and inactive, China and India doing but Wittle. The former has been a small seller and the Inter a very moderate buyer. Until Monday the price remained steady, but 8 strong improvement in sterling exchange with America caused freer sales from that quarter, and quotations have dropped. Though still better exchange rates would make purchases easier from the United States, the tone of the market is fairly steady.
It is reported that Senator Pittman will soon place before the Ranking and Currency Committee of the Senate all data pertaining to his bill recently introduced for the completion of purchases of silver under the Pittman Act of 1918, The Senator will endeavour to have such action recommended to Congress, as will make it mandatory for the Treasury to allocate the outstanding fourteen million ounces of silver. Both his. arguments ud the arguments of the Treasury officials will be included in the testimony before the committee.
'The silver quotations to-lay for cash and two months' delivery are each id. below those fixed a week
Text read from the printed page and cleaned; old type leaves the occasional error.