Reporting from London on February 14, Messrs, Samuel Montagu Ca. state:
The Indian bazaars have taken little interest in the silver market this week. Had it not been for some moderate buying orders coming from China, prices would hardly have sustained. Mean while the excellent up-country offtake in India, about 300 bars a day, must be absorbing some of the heavy supplies converging upon the market, and, should pricey ease off, it is reasonable to expect some fresh inquiry from that quarter. The Chinese New Year' will probably indicate a cessation of support from China for a week or so. Supplies have not been on large scale; silver has been sold on Ohina account, and a few speculative sales have taken place on any tendency of the price to rise to any substantial extent.
The silver quotations to-day for cash and forward delivery are respectively yd. and 3d. above those fixed a week ago.
Messrs. Mocatta & Goldsmid, reporting from London on February, 15. state The silver market has beea very quiet during the past week and the price has been maintained at a slightly higher level than that quoted a week ago, which was 30}d. India appears to be very disinterested, either as a buyer or seller, and although the up-country, demand is reported as being 300 bars a day, the large amounts now on the way there seem to make it unnecessary for the bazaars to buy, more for the present! The market therefore, has been chiefly dependent on China who has both bought and sold and some purchases for that quarter' raised the price to 30Hd. on the 12th instant. There has, however, since been a slight reaction and in view of the China New Year holidays, we rather look for a quiet and sagging market in the near future.
Text read from the printed page and cleaned; old type leaves the occasional error.