Indiana State sentinel. (Indianapolis, Ind.) 1861-1865, 1861-12-04
WHOLE NO. 1,169.
From the Cincinnati Price Current, Nov. ~.
Financial and Comme rcial Summary
for the Past Week.

Prom the 'nci1nar Pflce current, Nov.
Financial and Comme rcial Summary
for the Past week.
Nothin., has taken place since our last to dis
turb that quiet, ease and high conservatism,
which have been the prominent features Of the
money market in this city for long time.
The demand for money has increased slightly
since pork packing began, butts still Of limited
character. A further improvement may be
looked for in this respect within the coming week
or ten days, as the packing business will then
have reached its active stage.
The rates of discount remain at l0dl2, though
call loans can be made at per cent. and short
paper is taken at s per cent.
A large amount of money has been paid out TO
army contractors within the week, reaching near
ly 500 900, and the greater portion of this went
into the banks, thus increasing the amount CT
capital. Currency is very abundant, the demand
Treasury notes being in special favor.
The demand for exchange has been quite mod
crate, and rates remain unchanged Very little
demand for gold, and only a retail demand at our
quotations.
New Ork.. par. a prem
Gold ............... Il prem. 1z@S prem.
There is nothing new in uncurrent money. Ken
tucky passes freely at par in paying the
Kentucky drovers, so that the banks get but little
of it.
Avery interesting discussion has arisen in inan-
cial circles in New York, growing out OF the new
counterfeits ON the Shoe and Leather Bank. IL
seems that the names of the officers of this bank,
instead of being signed on the bills of the bank
in the usual way with pen and ink, were engraved
and printed, which seems to be contrary to law.
The signatures TO the counterfets were attached
in the same manner and as they initiated the
genuine so perfectly in every respect, the officers
of the bank took several of them before they de-
tected the fraud. The question now is, can the
bank be made liable and compelled 10 take these
notes alleged to be counterfeit
The 3 10 Treasury notes have TO be indorsed
when transferred from one ownership to another.
In thus ndOrsing persons should be careful 10
write over their Endorsement, "without recourse"
This is the custom in Wall street.
The amended banking law of " isconsin, adop-
ted almost unanimously by the people of that
State at the late election, goes into effect on the
first of next month. 1t compels the banks 20 re
deem their issue in specie or New York exchange,
either at Madison or Milwaukee, at a rate not ex-
ceeding 81 per cent discount. Il prohibits from
circulation the bills ofbanks which have not been
redeemed for six months previous to their intro
ductiOn, at per cent. discount in New York,
which, by the way, is rather stringent prohibi-
ton, and will exclude the bank notes of all the
the Western States.
The law also prohibits any stock being used as
a basis for circulation except United States stocks
and those of the State of Wisconsin. This would
seem to be a sound basis, and will make the pub
lie safe beyond probable contingency. There are
now about seventy banks in existence in Wiscon-
sin, and understand sixty of these are ready to
comply with the new law. All not complying,
will be wound up by the Bankers Committee,
appointed bv the State Bank Association for that
purpose. The present value of the stocks held
by the banks not complying with this law rem
ders their issues worth from 75c On the dollar TO
par; but, to save the public from loss, the banks
of the State have contributed a fund amounting
to one per cent. of their entire capital and the
Committee is authorized 10 use il in redeeming
the issues of the suspended banks, at par, and
their bills will, consequently, be received from
the public par and at retired from circula.
ton. This is really gratifying result Of the
great currency war in Wisconsin, and is so far
superior to that of Illinois, that the people of Wis
consin deserve great credit.
We perceive that business in Milwaukee has
been unusually active the past season. The i'm
mense crop of grain gathered in 1860 left the
granaries full, when the crop of 1861 was har
vested, and the imports and exports of -four and
grain, for the season just closed. have been the
largest ever known. The exports being equiva-
lent to 5000 900 bushels, against 5000, 900 the
previous season. The effect of the war are be-
ing felt only to limited extent in that as well as
the other lake cities.
there can be no doubt that the war has been of
great advantage to the trade of that city, and
Milwaukee, as the blockade on the Mississippi,
has turned large proportion of the agricultural
produce of Iowa and Western Illinois to both
these cities.
The weather has been quite cool with smart
frosts, and light snow fell from Saturday night
to Monday night, but it melted as it fell in the
city, but not so in the country. The temperature
h.. Ia for Oh nd
the season has fully commenced, although the
receipts of hogs have not been as large as had
been expected. The winter weather has been
fully inaugurated, after long and mild fall, which
has run into November much farther than usual;
indeed we had almost reached December be-
fore we experienced any marked indications OF
winter.
A fair degree of activity continues to prevail
throughout the various business departments oi
the city, and dealers generally report better fall
business than for many years, far beyond what
they expected.
House rent has recovered the decline estab-
lshed in the summer, to some extent, and II is
now quite difficult to procure desirable tene-
ment, which is vacant
The time being close at hand when those who
sold lard and mess pork to be delivered the last
ten days of the present month, had TO meet their
contracts. and the receipt of hogs not coming up
to what was expected, though the Weather was
favorable for packing, made those parties anxious
and restless, and induced them to enter the mar
ket without much reserve, and to get the hogs
seemed to be the primary consideration during
Friday, Saturday and Monday, so that prices ad
vanced to 81 75, and this price was freely paid
Monday morning.
On Change, that day, there was strong de-
sire to sell for future delivery manifested by drov
ers, and this dampened the spirits of buyers, and
prices declined, that afternoon. 5dl0c, and yes
teriay further decline OF l0@l5c was estab-
lished, and the market closed very dull last eve
ming at 50 30@3 As, with continued desire to
sell for future delivery.
Yesterday the receipts were large and the mar
ket opened dull, and on Change prices again
declined, closing at 50 30@3 IS. The sales
were: