London, Mar. 28.
It is very difficult to say what is going to happen pending further information from Washington," was a leading silver broker's reaction to the United States Government's purchases of Mexican silver, when interviewed by Reuter early to-day. The question of paramount importance, it was pointed out, was whether the United States would continue to pay 45 cents per ounce for foreign newly-mined silver.
If this policy was continued, the opinion was that the market would suffer only a temporary derangement On the. other hand, if this polic: were continued, but with discrimination against Mexican silver, then a lower world price would inevitably result.
Prior to the fixing the London market remained very unsettled and, although selling had not reached panic proportions, there was an absence of buyers.
Following the announcement of the United States Treasury's reduction of the world price of newly-mined silver to 44 cents per ounce, to-day's fixing was from ]id. to %d. lower, with spot silver being quoted at 195&d. and forward at 19j, d.—Reuter.
Text read from the printed page and cleaned; old type leaves the occasional error.