The Evansville daily journal. [volume] (Evansville, Ia. [i.e. Ind.]) 1848-1862, 1861-09-02
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Tor the Past Week.
The money market has not changed
The demand from acceptable borrowers con-
tinues light but an opportunity now being
offered for a secure investment in the new
loan, there is less complaint on the part OF
capitalists of the want of a safe investment.
The demand for Treasury notes at 97(0973
has been more pressing from day to day,
and but few on the market. There is no
difficulty in borrowing money where the
security is satisfactory, at car on call and
100l2 for time paper. There is no sale
for paper not regarded perfectly satisfactory
as regards security.
Exchange has been In moderate demand
without alteration in the rates, and we
quote as in our last. The demand for gold
is quite light:
New York........................ par a prem
Gold prem prem
The new loan of the United States is of a
two fold character, namely, a currency and
security. The currency portion is payable
on demand, without interest. The invest
ment portion is of two classes.
l. Six per cent. notes, in Dos, zoos, 500s
and l, 000s, having two years to run, inter-
est payable January and July. They are
receivable for public dues, and are converti-,
nle into twenty year six per cent stock.
The notes are now selling at 2023 per cent
discount The market is abundantly stock
ed with them.
2. Seven $40 per cent. notes, in sos,
zoos, 5O0s, 1,OO0s and 5,O00s, having three
years to run, interest payable January and
July. They are not receivable for public
dues, but are convertible into a twenty
year six per cent. stock. These notes can
be obtained at par by subscribing for them,
but it will be some time before they are
ready for delivery.
The peculiar rate of interest q $40 per
cent? was adopted because it amounted to
just two cents per duy on hundred dol
! lars.
The Treasury Department will immedi-
ately begin the gradual issue and employ
ment of United States notes of the conVe-
nient denominations of tf0es tens, and t,Oep-
ties, payable on demand, in specie, on pre-
sentation at the branch offices of the Treas
ury designated in the corner of each note.
These are now ready for circulation, and
/ it is probable that large amount of them
will be put into circulation at once, and as
| they will be redeemed in specie at the lead
! ing Eastern cities and at Cincinnati and
| ST. Louis, there can be no doubt they will
circulate freely. The whole issue of them
authorized by the loan act is fifty millions.
The weather has been quite changeable.
| In the fore part of the week the heaviest
rain evever known in this city, fell one af-
ternoon. About 81 inches of water fell in
about an hour and half. Since then the
| temperature has been low, ranging from $50
| to 75o in the day time, and as low as 45o
and 500 at night. This is too cold for corn,
and will make the ears short and badly fill
ed out.
The demand for -four has been moderate,
and prices recovered the depression noticed
at the close of last week, to some extent,
/ but Monday and yesterday the market vas
again depressed under the advees from
England and New York, and prices declined
folly loo from The rates current about the
middle of the week, closing heavy at so
(93 65 for super6pe; 3 1902 80 for extra,
I'D a oetS9A 1 < far family and fancy brands.
The receipts are fair, but not excessive.
There has been an alive demand for
wheat, for export, and the sales comprise
$4,000 bushels, closing at 65@72c for red,
! and 75G0S2c for white, the outside rates for
Kentucky. During a portion of the week
prices ruled at 78088c for choice red and
white, but the continued discouraging news
from New York induced buyers to hold off
last evening, and not offer over the rates
given. The reason why this demand con-
| T.,
| is this: In other years the leading sea
board markets have been supplied with new
wheat from Tennessee, Georgia, and Ala
bama, via the South Atlantic ports, but on
account of the blockade, can obtain none
from thence this season, and this being the
only market in which prime to choice new
winter can be obtained, eastern millers
come to this place to obtain these grades to
make their trade fancy brands of -four, and
for this purpose, the price is to some extent
a secondary consideration.
Corn has been dull throughout the week
but prices did not undergo any change; ear
on arrival bringing %, though the distil-
lers have been endeavoring to buy at 81,
but have not succeeded.
Oats have been in market about equal to
the demand, and the market ruled steady at
| 23@24c. in bulk, the latter rate for old.
Rye has been in moderate demand du-
ring the whole week, at 4Oc. on arrival.
Barley dull, and prices are nominal
New is offered at 45c. without buyers
There is no disposition exhibited by brew
ers to buy this article.
Whisky declined to 13c., but subsequent
| ~ advanced to 134c., with quite an improv-
| ed demand. The exports are greater than
the receipts.
! Butter advanced &c. per h., closing at 3
@15c. for the best parcels. Cheese IN
changed.
Spts turpentine, owing to a scarcity, advan-
ced to 65@1 20, and holders, in some cases,
asking TO- There have been some purchas-
ed to go to Philadelphia. This article can
now be imported from Liverpool at good
profit, for by the Canada we are advised
that the stock there being large, prices had
| declined 2s03s per cwt closing dull at ass
This is equal to about Csc. per gallon in our
currency, and the United States duty being
10c. per gallon, and the freight, say 10c it
may be laid down in New York at 90c. per
gallon, allowing 2s. for contingencies, so
that the present rates are not safe ones.-
Timothy seed has declined to 7502 90
and dull. Flax seed is selling at 85c. but
the great bulk of that the oil manufacturers
are getting costs them 1 90 delivered to
their agents throughout the interior. They
have contracted to pay the farmers this rate
last spring.
Provisions have not changed in value;