Reporting from London on July 2, Messrs, Samuel Montagu-& Ca. state:—
The Bank of England gold reserve against its note issue on the 25th ultimo amounted to £126,437,- 570, as compared with £126,406,390 on the previous Wednesday.
There has been practically demand on Indian account for the substantial supplies of gold available this week.
The Southern Rhoesian gold output for May was 58,816 ounces, as compared with 54,865 oz. for! April, and 54,787 oz. for May, 1923.
The final estimate of the United States Mint Bureau gives the refinery production of gold in the United States for the calendar year 1923 as $51,734,000. This figure represents an increase of $2,884,900 over that returned for 1922, but is: 49,801,700 below the record pro: Guction' of 1915, namely $101,035,- 700.
In the review of economic stati ties iggued by the Harvard Economic Service, of Cambridge, Mass. U.S.A Mr. Joseph Kitchin estimates*tbat the yield of the Transvaal in 1924 will be 240,000,000 to £41,000,000, and that it will fall to +£29,000,000 by 1930, mainly in the later years. He estimates that the output of the rest of the world will be £26,000,000 or £37,000,000 for 1924, rising to £45,000,000 in 1920, so that his forecast is that the world total will be about £77,000,000 1924 and each of the " succeeding three years, and that it will then decline to, say, £74,000,000 in 1990. The actual figures are expected to ry from these estimates by any-' thing up to 5 per cent,, and the total production for the five years 1921- 1925 is estimated at £360,000,000,
Text read from the printed page and cleaned; old type leaves the occasional error.