Indiana State sentinel. (Indianapolis, Ind.) 1861-1865, 1862-02-03
From the Cincinnati Price Current, Jan. 20
Financial and Commercial Summary
for the Past Week.

I
in all the leading cities, and the rumors and spec
ulations promulgated with reference to the views
of the Secretary of the Treasury OF of the mem
bers Of the Committee on Wavs and Means, are
used to put up or down the prices of stocks and Of
gold from day to day as the case may be. The
plan reported TO have been agreed upon by the
Committee. 10 issue demand Treasury notes and
per cent. United States stocks seems to have
met the general approval of the citizens of the
loyal States and il is not improbable that this
plan or something resembling il will be adopted;
indeed this is the only feasible plan it would SEEM
because it can not be expected that the Govern
ment can obtain loans specie basis to carry
on this war, unless at an enormous sacrifice;
which would add 10 its expenses wonderfully
There is no doubt that the people are willing and
anxious that such policy shall be adopted.
Idle capital is aecumulating rapidly, and the
opportunities of safe investment diminishing in
similar ratio, and this will continue TO be the case
while this war lasts and hence it is, that wherev-
er there is the mere shadow ofa probability of an
advance in the price of any article of produce in
vestments are being made in il with surprising
avidity
1t is supposed that should the plan of the com
mittee, 10 which allade, be adopted, the result
would be large advance in gold and sterling
exchange, but we cannot see why This should be
regarded necessary consequence, because the
amount OF gold in the country is very large, and
the portion of IL which can be boarded and per-
mitted to lie idle, must be a very small one in
deed, so that necessity will keep the great bulk
of it in circulation. And then our imports of
foreign goods are now light, and must remain so
while the war lasts, and will not exceed in value,
if they come up to our foreign exports of domes
tic produce, thus rendering the export of gold to
pay for our imports wholly unnecessary; and the
amount of foreign capital which will be with
drawn, will be small so long we remain at
peace with European nations, because foreign
capitalists, while they can use their money to ad-
vantage here, will not take il to other countries.
The demand for money is of the most limited
nature. All those considered first class borrow
ers have generally surplus capital, and need very
little accommodation.
First class short paper is in demand at 10 per
cent. and no trouble in obtaining call loans at Ga
7 per cent.
Exchange has been steady during the week,
and there has been no alteration in rates.
Gold has fuctuated from 30 to 3Is premium
selling rates, under the news from New York,
from day to day, and from / to 21S premium
buying. The closing quotations for gold and ex-
change are as follows:
New York. .......1s dis@par. 1s@4 prem.
! Gold. @2prem. 3prem.
Gold has become as much an article of specu
lation in New York any of the fancy stocks,
and is being sold ''short" daily, hence its sudden
! fluctuations.
The Indiana banks continue to redeem their
circulation in gold usual, but the Ohio banks
have suspended according to law" as regards
brokers, &c, but not as regards farmers and reg
ular customers. Their notes are still regarded
however, as select currency, and the same may
be said of Kentucky bank paper.
Demand treasury notes pass freely, and if the
bankers handle them gingery the people do not
The weather has been very changeabe. We
have had rain, frost, snow, and yesterday il was
as mild as spring.
The extreme high stage of water in the river
interfered with business to some extent, cutting
off good deal of that done with those towns
bordering on the river.
The water is now falling rapidly. The re-
ceipts of hogs have been moderate, and the de-
mand good at full prices, in the fore part of the
week, but they gave way the last three days, and
under advices from Northern Illinois and Iowa,
IRON whence some lots arrived the last three days.
over 1000 head having been received frem Chi
cago, and about 2, 1000 from Iowa, and there is
no doubt that large number still be had in
that section. Under these advces and facts, pri-
ces declined to 50 1903 80, and dressed hogs
sold to the extent of 500 head yesterday 50 05
| @3 20. the latter for lots averaging 26O lbs.
The weather became quite warm yesterday, the
thermometer being up to 60 rendering it too
warm to slaughter, which helped to depress the
market.
Tuesday yesterday the market was very dull
aud hardly enough done to establish quotations.
/ The sales were
300 head averaging 230 lbs at .........s3 20
600 country dressed 260 ............ 30
400 a. 2O0@220 ....3 05@3 Is
The nominal quotations for live at the close
was SO 1908 30, and the rates obtainabe for
dressed S3@3 20.
The receipts for the past week and the season
were as follows:
Total for the week ............. 80, ,292
Previously reported d................. 436,59o
Total this season. ...............f .f459 ,cy2
With one exception this is the largest number
ever packed in this city before. No doubt now
that the packing will reach half million this
season, and it may exceed it, as the scarcity of
coopsrage in Illinois and Iowa, and consequent
low prices of hogs there, will probably drive "A
considerable number to this market from. thence.
Cincinnati has the facilities and the means to
pack three quarters of million, should they be
brought here.
There has been good demand for mess pork
the greater portion of the week, in part to fill
army contracts and part from spectators, and
prices close at 50 621a (a9 u.s. and holders asking
$40 for the best brands i'm some cases The ad-
vance of SOC per brl in New York the last half
of the week had some influence on the market
There has been a moderate demand for lard at
6a@634c for country and ely in terces. and the
market closed firm. Country sold in kegs at &c,
and city was held at 7]4c. Not much put in kegs
this season.
Bulk pork very dull, and sides, which were sold
week ago at 41sc, and held at 414c. were offer
II. Al. l. 4 IL, -
2sdc, without finding buyers. The English and
Irish packers were the chief purchasers, and they
have stopped buying, hence this dullness. Green
meats advanced to 50 35 for shoulders and 33lc
for hams, but declined yesterday to 214@312c,
and dull, chiefly owing to the bad weather.
Nothing doing in bacon. excepting that sold to
the Government, and the prices thus obtained We
give in another place; 3s4c, DC and 554c are the
nominal rate for shoulders sides and clear sides.
Sugar cured hams are selling at 6(97c, the lat
ter rate for canvassed. The quotations given in
our last had reference to those done up in paper
alone and packed in that shape.
Quite an active demand arose for -four about
the middle os the week to fill Government con
tracts, and the supply being light and the receipts
small. owing to the extreme high rate, and also
to the fact that many of our city mills were idle,
consequent upon break in the canal few miles
north of the city, thus cutting off the water pow
er prices advanced fully l5c'per barrel but at the
close last evening the demand had fallen off and
the market closed quiet but firm at S4 1904 2C
for superfne and low extra, and S4 25@4 35 fol
family and fancy, and 81 1904 60 for choice
white wheat-the latter an extreme rate.
Wheat advanced to S6@90c for red and 95d
CSC for white. and some choice Kentucky brought
Sl@1 05. Oats firm at 26c Corn advanced tc
29c. Rye declined to SOC, but in good demand
at the decline. Whisky advanced to l6c closing
firm An active demand for pork and lard coon
erage from Illinois, and pork barrels advanced t6
81 25@1 80 and lard tierces to 81 30@l 40
Slack hhds and -four barrels are also higher Ii
the grocery market there has been no change a.