The Evansville daily journal. [volume] (Evansville, Ia. [i.e. Ind.]) 1848-1862, 1861-05-13


/ EVANSVILLE JOURNAL COMPANY
Journal Buildings, Locust ST.,
Bs1.0ssr. First as6 HraEer.
/ IFron the Gin Price Current
Financial and Commercial Summary
for the past Week.
The better feeling prevaded the money
market during the greater portion of the
week the Kentucky currency was handled
/ with more confidence, exchange being OBJ
tanned for it upon more favorable terms in
Louisville, and during the last three days il
was fully l per cent. better as compared
with OHIO and Indiana paper. Still bank
/ ers are cautious and continue to nay out the
Kentucky paper exclusively, and there is
hardly anything else in circulation. Mer-
chants and farmers from the interior refuse
to take it, so that its circulation is confined
chiefly to the city. The paper continues to
be returned to the banks rapidly, and as
they withdraw it, as it is sent home, the
circulation of these banks is greatly reduced.
The result of the election which took place
in Kentucky Saturday, has restored conf
dence in the State somewhat, and at the
close the feeling was better.
In the discount line there is not much
| doing There is but a small amount of
really first class paper offering, and such is
taken at l0@12 per cent. Quite large
amount of collection paper went to protest
last Saturday, a portion of it owing to the
fact of the owners of it having given orders
that it should be paid in Ohio and Indiana
currency, which the payers refused to do.
Collections are slow and unsatisfactory,
and hence there is good deal of embar-
rassment among merchants who have large
outstanding Indebtedness, which necessari-
ly leads to an extension of credits, but as
there has been great caution used for some
time back, and a general preparation made
tor this storm, there is no doubt that our
business community are in as good a trim
as they could be to meet it. The demand
for Exchange has been fair, and for Ohio
and Indiana currency the rates are uu-
changed, but for Kentucky they are one
per cent. lower. We quote:
For Ohio and Indiana. For Kentucky
Slght on New York. prem. % prem.
'' Philadelphia - prem. ~ prem
g Boston,. = prem. 2I3 prem
Coin.-.......-............-..l prem. 3a4prem.
The buying rates are for Ohio and IN
diana currency Z prem. and for Kentucky,
prem. Were it not for the hope that the
Kentucky bankers will make arrangements
soon to furnish exchange at lower rates, so
as to put the rates of their banks on an
equal footing with that of this State and
Indiana, the paper would have been thrown
out three weeks ago; and if they do not
soon do so, its rejection is but simply a
question of time, because this unnatural
state of things cannot long continue to exist.
The market for uncurrent Ihnney hoo boon
better. Exchange declined in st. Louis and
Chicago, which produced a corresponding
decline in rates of discount of Illinois Wis
consin, Missouri, and Iowa currency, and
several of the Illinois banks, which were on
the insolvent list, have been placed among
those called solvent The decline in the
rates of discount has been about five
per cent. The weather has been very change
able during the week. An immense guam
tity of rain fell, and the temperature has
been quite chilly. In the fore part of the
week there was a smart frost, which has in
jured the early fruit, but to what extent is
cot known. 1t is stated that the peaches
were killed in the vicinity of this city
Vegetation has not progressed much, owing
to the ungenial weather. This rain has
been general all over the country. extending
to the East. The Western rivers are all
high, and rising rapidly. The advices from
the growing crops are favorable wheat
promises well, with but little exception.
throughout the Western States. Grass is
forward and abundant. but the farmers
spring work has been retarded by the unu-
sual wet weather of April, and the great
war excitement which has withdrawn sucn
an immense number from agricultural pur-
suits, and fears are entertained that the !
quantity of corn planted will be short this |
spring, owing to this cause
The business of the week has been great
ly circumscribed. There is hardly anything /
doing in Dry Goods, except war material. !
In Groceries the business has been confined /
to limited joSbing trade Manufacturing /
business OF all kinds is greatly depressed, |
and very little doing. Hardly anything |
done IN Provisions, and prices ruled irregu-
lar and nominal
There has been a good local and export
demand for Flour, and prices further ad- |
Vanced 25c per bbl.,; superfine closing at
81 1904 80. Wheat sold quite freely, and
is higher, prime red bringing 81 O5 and /
white 81 II. The receipts of both flour
and wheat have been light, but increased
toward the close. Corn unchanged ; the
receipts are light and ear brings 34c. Oats
advanced to 28c, and in good demand.
Rye and Barley unchanged.
The market for whisky remaino in tho
position noticed in our last. Distillers sup
plying the demand, which is quite light at
l23c and storing any left over. Some
l. zUO OTIS, neld oy SPECTATORS, were forced
upon the market at &c. The receipts and
shipments of this article, are about one
fourth the average of last year. The alcohol
listillers are doing little or nothing, and
not a barrel going South.
Butter has decliled &c and is in good sup
ply, the very best selling at l2@13c
Eggs have declined to 5@53c per dozen,
and in large supply, about 900 packages
having arrived during the week
In the grocery market there has been 10
change moderate demand exists in the |
regular way, and prices remain as quoted in
our last.
The heavy war expenditures are already
being felt, and many departments of trade
are being greatly benefited, and in this way
employment is being given to mechanics
and others, and money being circulated
freely, and this is but the beginning, be-
cause when all the troops called out by the
1rnsi