Indiana State sentinel. (Indianapolis, Ind.) 1861-1865, 1861-09-11
From the Cincinnati Price Current, September 4.
Financial and Commercial Summary
for the Past Week.


From the Cincinnati Price Current, sepiember4.
Financial and Commercial Summary
for the Past Week.
The demand for money has been slightly bet
ter, but there is no new feature in the market.
Paper perfectly acceptable to bankers and CAPT
talists is in demand at l0@l2 per cent, but there
is no sale for paper not coming up to the above
standard.
The supply of exchange has been good, fully
up to the demand, and the market ruled dull but
steady at the rates current a week ago.
Two years treasury notes have been in pressing
demand, and 97115@9S was offered at the close.
Wequote:
New York.. ...--.................. par Z prem
GSd y prem7s 91zprem.
There is a firmer money market in New York,
and more confidence generally, which is to be at
trbuted to the taking of the United States loan
and the fact that the securities are now ruling
at par and upward, except the two year notes; the
quotations being:
Two year per cent. 972f @9s. accrued interest
added.
Three year 1910 per cent, par@lOO1s, ac-
crued interest added.
10, IL and ~ per cent, lOOk@lOlH. accrued
interest added.
Ali per cent. short notes about par, accrued
interest added.
This is certainly most gratifying state of af-
fairs. under the circumstances, and shows what
confidence capitalists have in not only the stabli
ty of our Government, but in its power to put
down this rebellion speedily.
The Government has commenced paying out
the currency notes, at the East. and they go at
par, being redecmable in gold on demand. With
regard to Treasury notes and taxation of them,
Thompson's Reporter says:
Before the people invest freely in Treasury
notes. they must be informed from high authority
whether or not money invested in them is exempt
from taxation We have asked the Attorney
GeneI al and we have also asked the Secretary
of the Treasury, and the answer is, that by Su-
preme Court case reported in Peters United States
Stocks are exempt from taxation when individual
money is invested in them. Here the matter rests
for the present. but our efforts to settle the ques-
ton are not ended. five can't do better, we
will obtain and publish the opinion of our banks
who have Just taken the fifty millions. We have
no doubt they will sustain in saying that
United States Treasury Notes and Stocks are ex-
empt from taxation.
Incomes arising from interest from Govern
ment securities. of over $500, are taxed only -
per cent on the amour. of such income; whereas
all other incomes Of over $500 are taxed 3 per
cent. This is specifically fixed in the recent Act
of Congress.
The same paper says of financial matters in
New York:
The boldness of the banks in taking one hun
dred and fifty millions of three years Treasury
notes, has inspired a confidence in the credit of
the Government. 1t carries the assurance that
money and men are at the command of the Exc
cutive, in amount and force to conquer peace.
So far as business is concerned. the worst of the
war has been seen. Already revival is quite
apparent.
No argument can so forcibly show the great
strength of our financial position, as do the fol-
lowing figures:
PRECIOUS METALS RECEIVED SINCE JANUARY i.
Foreign gold entered at New York -. 49,, 4s3
Foreign gold entered at Boston. .... 1886
California gold at New York.......... 23,426
Total income of gold since January /. .s64 AS
This has been the effect of what merchants call
the balance of trade in their favor.
The weather has been quite cool, but was warm
at the close-the range of the thermometer during
the day time being 65 to 76.
Flour has not changed in any essential particu-
lar. The demand has been quite moderate and
the receipts being largely in excess of the ship
ments, the stock has increased considerably; still
holders are not disposed to press sales, notwith-
stan.ng and it is for this reason that prices have
been sustained. Superine is scarce not much of
this grade being made. and it could have been
sold largely for shipment at 50 5003 60, but
holders asked 50 60@3 40. and this is about the
current range. Extra may be quoted at 50 75(0
3 IS, and family and fancy 50 1904 %, the lat
ter rate for white wheat
There has been large business done i'm wheat,
and the sales add up 100, 900 bushels. Prices did
not undergo any important change, and close at
60(010c for inferior to prime red, and 70@S0c
for white: choice brings 72@s2, the latter for
white. The market closes firm at these quota
tons.
Corn may be quoted at 27@2sc there being no
change within the week
Oats declined to 22@23c, and closed rather
dull.
Rye remained dull all the week, at 4Oc, on ar
rival.
Nothing doing in barley; there is very little Of
fering and there is 10 demand.
Whisky declined to l3c, with fair demand at
the decline.
The provision market has been exceedingly
dull, and with the exception of lard, there has
been but little done, and prices have ruled, to
great extent, nominal.
Mess pork has been offered at sl3 1904.
Bacon at 434@5c for shoulders, 5S4@6c for
sides, and 81 ale for clear sides. Bulk meat at
49, 566c for shoulders sides and clear sides
There has been good demand for lard, and
about 600 terces sold within the week at &c, and
some key at e3s@61sc. 1t has not been easy to
buy at these rates, as holders have been asking
IA to 1zc higher. There is no change in hams,
and not much done, common sell at to TIC;
smoked and canvassed, and smoked and sugar
cured 8 to 914c.
The stock of bril- pork in New York on the LIST
inst was 81 ,562 brls against 81 996 brls. on the
lst of August, and AZ, 10 do on the lst of Sep
tember, last year. This stock being greater than
was expected unsettled the market in New York
Yesterday. and prices declined 75c per bril-, with
sales at Sl4 %.
Beef cattle are very dull; the receipts are large
in excess of demand. and prices are shade
lower The best in market did not bring over
81 IS or Monday, and prime sold at 81 60; and
at the close 81 so was considered good offer for
that grade. There are very few going to the
East.
Hogs unchanged, and selling at 81 1898 25,
gross.
No change in sheep or lambs.
The grocery market has not undergone any
change. The demand has been quite light, and
confined to the jobbing trade, in which way pri-
ces have been maintained, but in the large way
they are, to greet extent. nominal Sales of
coffee have been made at rate fully 4c below
our quotations, and of sugar Lc Round lots of
prime molasses could be bought at 55c
The scarcity of cotton induced further adj
vance in cotton yarns.
4 ne STOCK OF Western manufactured tOOaccO
Is light, and prices of all grades are SOS cents
higher.
/ We notice mportations of Turks Island salt
from Boston; there must be large amount
brought to the West during the season from the
Eastern ports, as there is n deficiency in the
al supply of fully 100000 bags, in the whole
West, which must be made mp by importations
from Liverpool and elsewhere, via the ports of
New York or Boston.
The wool market has assumed an unusual phase
consequent upon the demand for army clothing,
L.