Indiana State sentinel. (Indianapolis, Ind.) 1861-1865, 1862-10-13
From Cincinnati Price Current, Oct s.
Financial and Commercial Summar
for the Past Week.

pOndlng decline IN gold. I..
Gold declined 1Js@2 per cent and Government
securities advanced TO 3 per cent. There has
also been a large advance in State and railway
securities and an immense business done in them
in New York
The project Of taking gold on deposit by the
Government and paying interest for il at the rate
of per cent. has been like all Mr. Chase's plans,
success, and gives general satisfaction, furnish
ing the Government with gold TO pay the inter-
est at a low rate of interest," and thus preventing
the bad results of making purchases for this pur
pose.
The supply of capital seeking investment con-
tinues large in all the leading markets. far in ex-
cess of the demand, and good paper is in demand
here at sal 10 per cent. per pnnum. The amount
of good commercial paper offering is now quite
small.
Exchange has ruled steady and rather firm all
the week The closing rates for exchange and
coin last evening were as follows:
Buying Selling.
New York. il dis@par. a prem.
Gold. .......... 20prem. % prem.
Silver. ...l5@l6 prem. 1898 prem.
Demand NOtes. 49,. .le prem. ......
The scarcity of small notes and of change is
still being felt, more especially by the poorer
classes, upon whom il proves heavy tax 1t is
to be hoped that this will soon be remeded IL
is evident that this stamp currency is easily de-
faced and will therefore have to be returned con-
stantly for redemption, so that the machinery for
printing il will have to be not only extensive but
kept in constant so long this stamp currency
is needed. Ii ample provisions are not made for
supplying new stamps for those which may be-
come defaced, it will be counterfeited to an alarm
ing extent
The business during the week has been quite
active and all kinds of foreign and domestic cot
ton goods have further advanced. Both as re-
CARDS security and profits, the trade of this city
has never before been in such a satisfactory posi-
ton. Instead of stocks of goods being burden
some has generally been the case, the difficult
ty Is to keep up assOrtments, and then the steady
advance msures profits without an effort, these
accumula.ing even while the goods are 10 transitu
from the place Of importation or manufacture 10
the store of the merchant. Ii is now both pleas
ant and profitable to be a merchant.
The weather continues dry, though there have
been some showers, but not enough in this local
ity to wet the parched earth. In other places
north and west of this, however, there have been
refreshing rains The temperature has been up
to July standard, though the nights have been
cool. In the miadle of the day the thermometer
ranged from 7S to S5 deg.
An advance in the seaboard markets. and a
good local demand, caused au advance of fully
l0c per brl. in flour, and the market closed very
firm at our quotations. Superfne 81 2Oa4 25,
and extra 81 3Oa4 40. Wheat advanced 2a3c,
and has been in good demand. Corn and oats
also advanced, and the market closed firm at our
quotations. Whisky advanced to 30c. with fair
demand, which is met by holders freely, but there
is pressure to sell. The distillers are still
working to some extent, but that they now make
is being taxed. We understand that the leading
distiIlers intend building alcohol distlleries in
connection with their present establishments, for
the purpose of being enabled to ship it abroad
without having to advance the tax, and thus be
deprived of large sums of money, pending the
transit of the article TO the seabOard They will
be enabled, in this way, to ship in bond from
their distieries.
There is a good demand for leaf and manufac-
tured tobacco, and all kinds have further ad-
vanced. 1t is thought that the crop in Kentucky
will be quite short, because of the dry weather
and the disturbed state of affairs in that State
Cheese is &c higher. with demand rather in
excess of the supply. Butter firm and unchanged.
The supply of prime to choice is still inadequate
to the demand.
The army demand for bacon shoulders caused
quite buoyant market for them, and the sales
here reached 600, 900 lbs. at 41za41Sc loose.
chiefly the former rate; but, at the close, il was
difficult to buy at 415c, holders asked 4szc,
loose. Bulk shoulders sold to considerable ex-
tent at 334c. Nothing worthy of note has been
done in mess pork, bulk sides, or smoked sides.
Mess pork is held at 50 25a9 80, but could not
be sold at over So Bulk sides are held at sc,
C
11c below these quotations would have to be
cepted. Clear sides smoked are held at 61zc,
but 80 hhds. good sold at 53zc, including pack
ages, on Saturday. Contrary to the general
pectation, there has been no demand for clear
sides for a long time, nor for rib sides, so that
heavy stocks still in the hands of dealers, who
expected that good army demand would exist,
and have acted accordingly. Common hams are
dull. and are offered at 63zc, canvased and pack
ed. The stock of good brands sugar cured is
about exhausted. l2c is the price. Summer
sugar cured are selling at 10 TO lie. The de-
mand for the lower grades of lard continues good,
and 71zc has been freely paid for butchers, with
out cooperage. There have been sales of prime
made for November at Size, and for December
at TIC, buyers furnishing cooperage. There has
not been much done in old prime; the last sale
was made at 61sc; it is held at S33zc. The stock
here is quite light.
Beef cattle have not changed, the supply has
been ample and rather in excess of the demand.
Hogs in good demand at 50 to SO gross.
The supply is fair. Packers, resident and from
abroad, are now thinking seriously of the coming
crop, and cogitating upon prices. The foreign
demand will be the controlling regulator of the
market, beyond doubt, and there is no doubt
that large demand will exist from abroad at
prices equivalent TO those of last year, which, by
adding the difference in sterling exchange, would
be close on to 81, and as matters now stand,
there IS little doubt tnat prices Will open AT OF
over this rate Ii is true that il gold or sterling
exchange should decline, as they most assuredly
will do should the war take decided favorable
turn in favor Of the Union army, it would change
the case very decidedly; but no matter what may
be the result in this way at as low prices as those
of last year, an immense amount Of the pork of
the coming season will 60 TO England and the
continent Sales Of about 4, 600 hogs were made
during the week at 81 net, TO be delivered in the
forepart OF November, which would indicate a
strong feeling on the part of packers.
Linseed oil is very scarce and has advanced TO
SlaS2c, but there is none to be had, and these
rates are therefore nominal. The new crop has
been shipped East this year, owing to the fact
that it paid better than to shipto this Market and
hence the scarcity here.
The grocery market has been quite buoyant,
and prices have materially advanced; the advance
in sugar is &c. in coffee &c and in moasses &c.
The New Albany Ledger says: "The pub
lie confidence in Gen. Buell. daily increases as
the result of his splendid strategy and GeneralshiP
becomes more apparent. Next to George b.
Mcclellan, Gen. Buell. justly ranks as the great
military genius Of the country. be may appear
slow TO some but he is also sure. Six weeks
hence, and all his traducers will be covered with
shame and confusion"
We commend this honest utterance TO the at
tention of the indianapolis Jouraai.-Louisrak
Journal