Messrs. Samuel Montagu & Co.* issue the following report on "the gold market dated January 19:—
The Bank of England gold reserve against its note issue is £126,618,- 780, as compared with £126,617,708 last week.
Owing to. the late arrival of the boat from South Africa, there has not been a large amount of gold om offer. The bulk of the available supplies was taken for India, who would have used considerably more than the quantity available.
We have been favoured by a responsible authority in matters connected with the mining industry of South Africa with the following interesting information regarding the strike in the Rand. The movement is regarded as of a sympathetic character, following a reduction in the wages of the coal miners in the State. Some effect upon the production is certain; equivalent at least to the loss of one month's output. Unfortunately there is a risk of permanent injury to mining interests, owing to the narrow margin of profit in the case of low grade mines. A cessation of activity will jeopardize the future of some of the mines, and Government help may perhaps have to be invoked to remedy the disastrous effects of flood-ling the workings, in consequence of the temporary stoppage of pumping operations, which the mine officials and clerical staff are now atiemnting to carry on. Owing to powerful economic factors working adversely to the men, the strike is not likely to be of long duration.
New York reports the arrival of gold to the value of—$2,754,000—$2,240,000 from London; $300,008 from France; and $214,000 from Egypt.
Text read from the printed page and cleaned; old type leaves the occasional error.