Indiana State sentinel. (Indianapolis, Ind.) 1861-1865, 1862-08-11
Prom the Cincinnati Price Current. Aug O.
Financial and Commercial sum mary


Prom the Cincinnati Price Current. Aug
Financial and Commercial summary
for the past week.
A very general and rather unexpected calm
has poryaded the financial market since our last.
The large decline Ia coin has not been recovered
aud there has been general want of confidence
that any reaction will take place as the lndoa.
tons are that our army In Virginia may make n
successful movement on Richmond soon; IN such
case II Il generally admitted that coin would
largely decline. The whole matter IA regarded
In precarious light, and hence the pause In the
excitement which had previously pervaded the
market.
The prohibition OF the use of specie In the pur.
chase OF cotton has stopped n large demand which
had arisen for gold and thrown large amounts on
the market which had been bought " buy cotton
and sugar.
There has been marked falling of In the
exports OF gold abroad and large increase
In those Of agricultural products. so that. with
successful movement of our army In Virgin.
la the way has been prepared for large dc.
cline. aud this Is seriously apprehended
The market has ruled dull Tor exchange and
rates are lower. The decline In coin aud do.
mand notes Is equal 10 2 per cent since our
last The closing quotations last evening were
as follows;
Buying Selling.
New York. ....... 4dis. par
Gold. .."..........l 3 prem. 10 prem.
Silver. ...........5@6 prem. SOLO prem.
Demand Notes. GOOD prem.
The new scale Of duties laid upon the importa-
ton Of foreign goods amounts 10 high protec.
tive tariff, and will remain in existence. doubt.
less, for long series Of years, and thus afford a
good opportunity ~ test the old Wing doctrine,
which the leading Wings so ably advocated tif.
teen or twenty years ago. Certainly the man
ulacturers Of the United States could not de.
sire better protection than they have now.
As soon Ms the war IL over, the various branch
ca of industry must increase IN an unusual
manner. and we have already stated this
high range Of duties can not be an ephemeral
thing as the national debt now rendered nevi
table, can not be liquidated for thirty years,
and 20 pay the interest upon Il an impost duty
rather than direct taxation will be resorted TO
and relied upon
The order issued by the Secretary Of War yes
terday, calling for 800 900 men 4 serve for nine
months, unless previously discharged. produced
immense sensation, and renders The question OF
drafting u fixed fact. This draft will have
marked influence on business. No IL will leave the
different departments very short Of hands, but Il
| Is indispensably necessary, for ms we remarked
In our last, the time has come when this war
must cease TO be considered an outside business
by the North, and when IL is TO be regarded as
the great business Of the day, all other consider
ations being merely collateral ones. The Gov
ernment seems To have arrived at the determine
ton that the gigantic power OF the Northern peo-
pie shall lac developed.
A marked advance in rates of freight on all
the railways has diminished business in produce
somewhat, and prevented the advance which
would otherwise have been established under the
| favorable news from England by the Arabia All
the railways are crowd with freight far beyond
their capacities showing very clearly that they
are utterly unable to do the business resulting
from the unusually abundant crops of this
son.
The weather has been warm, with some show
ers, Co force the corn 70 a continued rapid growth
For this purpose the weather could not be more
| favorable.
Flour was shipped off largely in the early part
Of the week, anticipating the contemplated ad-
vance IN freight, so that the market was left bare
of stock, and towards the close frmer market
was the result, superline being in good demand at
81, and in some cases 81 05 was obtained. Ex-
ira 81 load 20, and fancy 81 3Oa4 go. The re-
cepts of wheat have been very large. and prices
declined TO 75asOc for red, and e5a9Oc for white,
with good demand ut these rates, from the Lake
regions, and from the East. The indications are
that the receipts of wheat at this place, the com
ing season, will be double those of any previous
season. Corn advanced to doc; the demand from
distillers being pressing, but several purchases
were made at 35c, To arrive. After this month
Rye advanced to 5Sc, and in good demand. Oats
remain at 42c. with less speculative feeling New
barley brought 75c, and is in moderate demand.
Whisky advanced to 27c, but fell back TO % &c,
closing irregular.
Cheese, being in light supply, advanced &c,
and butter for the same reason advanced lie The
extreme warm weather is the chief cause of this
hight supply, it being exceedingly difficult to
bring either to market in good condition when
the temperature is rarely below 50 degrees rang
ing from that to 95
Spirits turpentinc has advanced to s. so, owing
to the scarcity It is up to So 35 in New York.
Pig iron is 81 ton higher. under the new
tariff. Star candles are &c per 10 higher and soap
&c. Tallow candles are lie per 10 higher. This
is owing to the advance in the material.
Beef cattle are in good supply-rather in ex-
cess of the demand-and prices ruled shade
easier The Government buyers bought quite
freely Basing our quotations on the sales Mt all
the yards, we call fair 50 50a2 IS, good 81 9Oa3,
and prime to choice SO 25a3 AZ per GENITAL gross.
Hogs in active demand at s3a3 25 for slop-
fattened, and 80 4Oa3 90 for corn fattened, the
outside rates being obtanablc only for heavy fat.
The demand exceeds the supply.
Sheep in good demand and light supply.
Wool frnler Some round lots were sold in
the interior during the week at 47a5Dc. As a
general thing there more buyers than sellers
at these rates, and 55c has been paid for choice
clips.
In provisions there has not been much change.
Mess pork and bulk and smoked sides have been
neglected. but there has been good demand for
shoulders in bulk and smoked and the sales add
up ESQ., 900 lbs. at 234a3 cents in bulk "a higher
when packed, and &c smoked and packed, clio
sing at the outside rates. Lard has been sought
after all the week S1aSIsc in tierces and S3
in kegs, but it is generally held 14a1ac higher.
Butchers lard has been in active demand at &c in
; bulk and 73sa7lac packed. The demand for this
; description of lard and for grease exceeds the
supply. Sugar cured hams advanced to 9hal0c
and in light supply. Country cured sell at SEA
914c and common at 71Sa734c. Sales of bulk
hams were made at size.
The grocery market has been fiat, under the
, influence of large importations aud heavy sea
board market. Sugars of all grades are &c
} lower. Coffee unchanged. Molasses. owing to a
very light supply, is firmer, and New Orleans
brings 50a52c.
Cotton dull and lower, closing mt 35a40c for
spinning. The receipts quite liberal. The
; whole amount received here since our army
reached the cotton States, last March, is % SGT
bales; over 300 were received the past week.
Warren Township Democratic Meet.
ing.
= AUGUST, 3, 1862.