India and China in Competition: Prospects of a Record Output from Mexico Reporting from London on February 28, Messrs. Samuel Montagu Ca. state Ching has sent both buying and selling orders during the week, sometimes even on the same day, though buying has predominated. The Indian bazaars have nibbled almost daily, rather cautiously, for often limits were given, and China filched away the supplies, Ihe Continent sold a fair amount, but America has not operated freely, owing probably to som China demand coming upon the San Francisco market. Competition between the two great Eastern consuming countries had the natural effect. of stiffening prices, and imparted, for the time being at my rate, a measure of cenfidence in the near prospects of the market.
A general bulletin of the American Mining Congress states that the Governor and Legislature of Utah have petitioned Congress for legislation to assist the silver mining industry. It adds that the strengthening of the lead market is discounting the possible decline in the price of silver, which some Mexican mining interests fear wall take place when the silver output of the United States is placed upon the world market on the cessation of government purchases under ihe Pittman Act.
The silver quotations to-day for cash and forward delivery are respectively 1d. and ifd. above those fixed a week ago.
March,7.—The market has shown a steady front during the week. During the earlier portion, China was the predominant—_ factor, making purchases in London and San Francisco. The latter opezation naturally hindered American sales here. The continued advance in price during the last few days induced some covering and_ forward purchases by the Indian bazaars. The inquiry for that quarter for shipment is not
Text read from the printed page and cleaned; old type leaves the occasional error.