Indiana State sentinel. (Indianapolis, Ind.) 1861-1865, 1862-02-17

single broadsde from the Benton would make
them old hulks in a twinkling.
A large number of troops are encamped on the
bluff. They are supplied with water from a sta
tionary steam engine. located just below the four
teen gun battery. The Commodore knows the
locality. and one of these days shell dropped in
that direction may put the water-works out of
order. Near the railroad is a church which is
used for magazine. General Folks headquar-
tiers are between the bluff and the church.
s- From the Cincinnati Price Current, Feb. T.
Financial and Commercial summary
for the Past Week.
The money market remains in that dull and
quiet state heretofore noticed the demand from
acceptable borrowers is of limited nature and
first class business paper is taken freely 10 per
cent.
The bill authorizing the issue of $50 900 600
in Treasury notes. and making them a legal ten
der, passed the House of Representatives in the
early part of the week, which caused great 10Y
among the people throughout the loyal States.
! This bill is now pending before the Senate. and
indications exist that an attempt will be made to
defeat it or to change il as to render il unaccept-
able to the people, and place the Government at
the mercy of the bankers of New York and New
England. IL is likely, however, that the pressure
of popular sentiment which is being brought to
bear ON the Senate will neutraize the influence of
bankers and capitalists. which is now being
welded in the legislative halls of the nation with
an energy and pertinacity worthy better cause
and that the bill will pass as it came from the
House, or only slightly modified. This bill pro
vides for the issue of demand notes to the amount
already specified making them legal tender and
for their redemption in FIVE year United States
stocks, bearing per cent. or twenty year stocks
bearing per cent, at the option of the holder
The interest is TO be paid semi-annualy in coin
or demand notes, at the option of the Secretary
of the Treasury. This latter is the clause which
will probably be modified by the Senate The
prevailing feeling IN that body is that the interest
should be paid in coin.
The news from the armies during the week has
been very encouraging Fort Henry, on the
Tennessee river, built by the rebels to protect
the TANKS of their forces at Columbus was cap
tured, and some 5000 of their forces fed leaving
most of their arms and ali their camp equipage
in our hands; and Fort Donelson. on the Cum
berland river, erected 10 prevent flank move
ment against the rebel force on Green river in
Kentucky, was completely surrounded by force
of some ten thousand at the last accounts and
| will be captured beyond a doubt. The number
of forces in that fort was 5000. The expedition
under Gen. Burnside against the North Carolina
coast has captured Roanoke Island. 1t seems
now that the vast army which has been organ
izing the last nine months is beginning to
develOpe its irresistible force, and that the for
ward movement into the insurrectionary States
will be one of uninterrupted triumph, and that
all the strongh0lds of the rebels will be taken
within the coming sixty or ninety days As this
hope brightens the feeling among business men
becomes more cheerful. 1t is clear that the crisis
of this rebellion has arrived, and that failure
to achieve victories henceforward would be fatal
to our cause and our country.
Tho demand for axehanpa has boon rnodara "a
and the market rules firm at the following quo
tations. Gold is held firmly by the bankers al
the rates we give, but the demand is quite light
We quote: -
Buying. Selling
New York. par. a prem
Gold. ..2@21a prem. 315 prem
The Chamber of Commerce of this city, at
called meeting on Monday afternoon, there being
some seven hundred members present, passed res
olutions with great enthusiasm, and without o
dissenting vote, in favor of the passage of the
bill authorizing the issue of demand Treasury
notes, and making them a legal tender The
people of the Western States are unanimously in
favor of this measure, and most decidedly op-
posed to giving the Eastern bankers the control
the finances of the Government, in any way
whatever. 1,
The weather continues changeable, as usual
There have been frost, snow, rain and little
|
whole has been disagreeable, with a temperature
ranging from 80 to 40 degrees. Business has been
moderately good without much change Of i'm
portance.
The season for packing pork is now about
closed, the receipts of hogs the past week being
light, and chiefly country dressed, shipped here
from Northern Illinois, chiefly Chicago; they
reach here frozen, but have been taken at SO 20
"a 35; city dressed brought SO 40@3 so. Most
Inf Ill oolfc ad
The receipts during the week and for the sea-
son, were as follows:
Total for the week. .............. S,007
Previously reported. ................. 416.50l
-
Total for the season. Asa, sos
In consequence Of the unusual number Of
dressed hogs which were brought in by wagon
this season, and which not included in the re
ceipts we have given from week to week, it is
probable that the number packed exceeds that
given above-enough to make the total reach
half million. We will, as usual, obtain the re
turns from each house engaged and lay the bust
ness before the trade with as little delay as pos
sible
There has been firm feeling in the provision
market all the week, aud this frmness was in
creased to some extent by the favorable move
ments of the army.
Mess pork was held firmly at SO 5000 for
good country and the bess city brands with buy
ers ut 25c per barrel below these quotations. A
party who purchased 1900 brls on speculation q
month ago, concluded to sell out, and the whole
amount was taken at 50 70. Rump pork is in
good demand with sales of 200 barrels at Sc 50
Prime mess is held at 50 25. The English and
Irish packers bought bulk sides very freely, and
about million and half pounds were taken at
40411c; holders asking a shade higher at the
close. The demand for bulk shoulders is limit
ed, and the only sale we heard of was $50, 00C
lbs at 25ac.
The business done in lard has been but mod
ernte which is to be attributed to the frmness oil
holders, buyers not being disposed TO pay within
16c of the rates asked, which are 656063zc for
country and city but at these rates the sales sun
up 500 tierces, the market closing firm; keg sold
at 7c
Flour and grain did not undergo any i'm
portrait change.
Whisky has Eucsuated some, closing at lie.
Green apples are scarce, and are SOC per brl
higher
Pig iron is up to SOS, cash, for hot blast, and
sos for cold.
The supply of nails is light and inadequate to
the demand, and prices are still advancing
Beef cattle advanced 25c per Genital and in
light supply.
In the grocery market the business has been
confined to a limited johbing trade, and sugar il
514c per Id. and molasses lie per gallon lower
Coffee is easier. but there is frm feeling kept
up in this article.
The stocks of all kinds are light, and all par
ties buy sparingly and with reference TO current
wants
Coal and carbon oils are 5@i0c lower, but in
fair demand, however A foolish impression i
prevailing regarding some explosions which have
taken place in using this carbon oil, attributng
them to an adulteration with spirits turpeutine
and burning fluids; and we have noticed such
Statements in new sraners conducted nv nersons