Outlook Obscure: No Sign of Demand Present London, Feb. 25.
Messrs. Samuel Montagu Ci in their annual bullion letter, well The outlook ly rather obscure, and the dependency of the market for the off-take on Indian Bazaars is Mlus trated by the fact that of total exports 199,000,000 ounces" during "1930, India. took 104,000,000 ounces. Of the balance 7,000,000 ounces went to the United There are at present no signs of any considerable demand frame where; therefore, it is probable that India may again bear the brunt of support, though' itis debatable to what extent Indian bazaars are Wkely fo run up the price which 1s largely governed by the up-country demand, Since last year was an. unfavour= able one for speculators, the market would probably respond very readily any volume of speculative buying.
The altitude of the United States Government 1s problematical, though the experience gained last year Tends the supposition that they are interested in the market if-an Im= Portant fall occurs.
addition to domestic production, the United States Treasury' has taken the new output of other producing countries, though the terms under which this has been done' ts not Known.
Supplies available to the market, therefore, are mainly' in the form of demonetized sliver: Statistes have revealed that about ninety per ent of the silver Imported into the United Kingdom during 1980° way other than mined silver." Since sup: pugs of demonetised sliver must be Setlously depleted, the possibility of offerings becoming limited should be Femembered.
In the event of Indian interest continuing, prices may fairly well maintained, with movements prob ably narrow, provided that. the United States. sliver policy remains
Text read from the printed page and cleaned; old type leaves the occasional error.