The Evansville daily journal. [volume] (Evansville, Ia. [i.e. Ind.]) 1848-1862, 1861-05-27

From The Circiaytatt Price Current, ed.
Financial and Commercial summa-
rv for the nasf w eeAfa

has been the rejection OF the KENTUCKY
currency by our bankers, and placing it a
a discount of 405 per cent. Although
the amount in circulation of this money il
now small, yet the throwing of it out caus-
I ed some confusion and disappointment, and
it is still taken in trade to some extent
As exchange can be bought with it at Louis
willie at 2(923 prem, it Is really but per
cent. below the Ohio and Indiana paper but
there is a feeling of uncertainty attached to
it, owing to the law passed by the Legisla-
ture authorizing the suspension of specie
payment. 1t is supposed that the Com
mercial, Southern, and Ashland Banks will
suspend also the Peoples Bank but the
impression is that the Northern and Farm
ers Banks will not The fact that the
Kentucky banks have withstood the pancs
and pressure of the past, gives the people
great confidence in it, and they cannot make
up their minds to the conclusion that it can
prove bad; the circulation of the banks must
now be greatly reduced leaving them in a
safe position. The indications are that the
rate of discount will be reduced the coming
week say to 3 per cent.
The demand for money, from those offer
ing acceptable paper continues quite light,
and such paper is in demand at 1OOl2 per
cent; but paper not coming up to this grade
is not salable The demand for exchange
has been moderate only, but the market has
been somewhat unsettled the selling rate
ranging from to L premium the closing
rates being 36z premium. Bankers have
bought gold reluctantly, not paying over ]
premium for it, the demand having fallen
off, though it is being retailed at IG2. for
par funds, with a light demand Our quo
tations for exchange refer to checks on the
East, except Baltimore, as there is nothing,
of course, doing in Southern, and has not
been for some time.
The paper of the Missouri Illinois and
Wisconsin banks has further deprecated
during the week Missouri is II discount,
and the few that are called solvent of the
other States 80 discount, whilst the Others
range from so to 60, and some are not
worth anything. Exchange run up to 25
GD3O per cent. premium in Chicago, and not
to be had at even these extraordinary rates.
The probability is that this system of stock
banking as it is now followed, will be
wiped out of existence. There has been
great excitement in Chicago throughout the
week, growing ont of this currency ques-
ton, and the merchants there seem deter
mined to do something, but have not, we
believe, as yet settled upon any definite
mode of action to relieve themselves of the
difficulties saddled upon them by the bank
ing system of that and the adjoining States
The war excitement continues to engross
the attention Of all, to the exclusion of
other subjects, to a greater or less extent
a very perceptible progress has been made
by the Government, within the past week
toward the grand object in view. Maryland
is now completely under the control of the |
Government, and the same may he said of |
Missouri and the indications are that Ken |
lucky will be secured against secession in
huence within the next week or two. The |
ports of the Southern, States have been /
blockaded and communication with them
by inland routes pretty well cut off. There /
seems to be no doubt that Eastern Virginia
will be the scene Of the great conflict, which
seems to be now near at hand, and all are
looking with intense anxiety for the result |
Business in most departments continues |
dull, without marked change in prices of |
any article Flour has been dealt in spar /
inpIr out nricac are not ->4~s~-;ell, lower /
S4 80, and extra 81 6O@54 70
The receipts are but moderate, but are fully /
up to the demand The stock, however, is |
light, and as the demand to supply the |
troops encamped in this vicinity is now 100 |
brIs per day, which, with the usual city |
makes the whole amount of |
daily consumption $50 brls day, will soon
reduce this stock if the receipts do not in
crease. Wheat has been in better supply,
and prices declined 4le5c per bushel, the
prime red and white Corn is dull but I'M
changed. Oats il better supply, and dull
at 28c.
Rye is selling at 54c- Barley is lower:
prime fall sold at soc, and the market
closed nominal at this rate.
Whisky 123c, there being no change
Turing the week.
In the grocery market there has been a
air business done, but the sales are making
n small lots to meet the current wants OF
he trade. Prices have not changed.
Beef cattle have been in better supply |
and the market ruled a shade easier, So rs
being an outside rate for choice beeves
Hogs very dull, and the demand quite limit
I'd at So 0OC9S3 so gross. The distillers
are, to some extent, Strengthening their hogs
and having them ice cured on their own ac-
count, in consequence of their anxiety to
further curtail their business, and Of the |
difficulty of disposiug of them otherwise.
Sheep are in moderate supply and fair /
demand at 81 50@3 so per GENITAL gross.
Lamb are scarce and sell at prices ranging |
from s. so to So so.
There is some demand for the lower 1
grades of wool at 20022c, but we have not
heard of anything being done in the way of
contracts for the present clip, and must call
the market unsettled. Some dealers speak
IF 250933c as the probable range. 1t seems
luite likely that the best wool will not ex-
,eed 35c.
Linseed oil is very dull, and has been sold
10 the extent of $50 brls at SOC In the
small way 5l@52c are the rates charged.
The demand is qnite light.
The demand for provisions continues of
the most limited nature, and prices have
been to a great extent nominal. 100, 600
lbs. bulk sides sold about the middle of the
week ats62c, and $4,000 lbs. shoulders in
bulk, subsequently, at 44c. Small sales of
bacon at 5000, for shoulders, 74(9sc, for
sides, and ga &c for clear sides. Mess pork
has been offered at SIG 25@16 so, but it is
probable that it could have been bought to
some extent at the close at SIC. There is
really no demand, and the necessities of
holders only would compel them to sell at
this rate.
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