Reporting from.ondon on, April 25, Messrs. Samuel Montagu & Ca.
During the week, the tendency of prices has been upward. The; key to the present situation is continued inquiry from China, chiefly directed upon the American market. The speculative position in Shanghai (equivalent to bulling silver), is really large, and cannot -be considered as founded upon trade requirements. Possibly some of the attitude of Chinese operators may be ascribed to a measure of uneasiness as.to the political situation, the tortuous vagaries of which are perennial.
As a consequence of the market being bereft of supplies from America, the moderate orders from the India bazaars had considerable effect upon prices. A considerable premium for immediate delivery is quoteg in Bombay, the price for cash being cabled to-day as 853d. and for forward delivery 82%d. per 100 fleas. There has been some China and Continental selling, but only at rising rates.
A further purchase of 1,500,000 oz... of silver under the Pittman Act was announced from Washington on the 13th inst., making the total amount bought under the Act up to that date 180,686,995 oz.
The silver quotations to-day for cash and forward delivery are respectively gd. and 3d. above those fixed a week ago.
Text read from the printed page and cleaned; old type leaves the occasional error.