Daily State sentinel. [volume] (Indianapolis, Ind.) 1861-1865, 1862-10-09
From Cincinnati Price Current Oct. s.
Financial and Com me cial am nm N ~
for the Past Week.
W. J. ORR


The events of the week being on the whole
more favorable to the national cause. the effect
ON Government securities has been favorable.
causing an Improvement in value and cores
pondins decline in gold
Gold declined y az per cent and Government
securities advanced 70 TO per cent. There has
also been large advance in State and railway
securities and all immense business done in them
in New York
The project of taking gold on deposit by the
Government and paying interest for it at the rate
of per cent. has been ike all Mr.. Chase's plans,
a success. and gives general satisfaction, furnish
ing the Government with gold to pay the inter
EFT at low rate of interest. and thus preventing
the bad results OF making purchases Tor 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 demand
here At s@l0 per cent. per 'nnum. The amount
of good commercial paper Offering is now quite
small.
Exchange has ruled steady and rather firm all
the week The closing rates foe exchange and
coin last evening were as follows:
BUYING Selling.
New York. Ia di- dpar n prem.
I Gold. 2OpIem ~ prem.
Silver. .l5@l6 prem 1913 prem.
Demand Notes. Is prem. 49,.
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 remedied 1t
Is evident that this stamp currency Is easily de-
faced and will therefore have To be returned con
ST Unity for redemption, 50 that the machinery for
printing it will have To be not only extens We bat
kept in constant so long this stamp currency
is needed. Ii ample provisions are not made for
e l.
come defaced, il will be counterfeted 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 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
/ ~ l. 10 keep up ass0rtments and then the steady
advance insures profits without an effort. these
accommodating even while the goods are 10 transtu
/ from the place OF Importation or manufacture 10
I the store of the merchant. IL - now both pleas
/ ant and profitable 10 be a merchant.
The weather continues dry. though there have
! been some showers. but not enough IN this local
I ity TO wet the parched earth. In other places
north and west of this. however, there have been
I refreshing rains The temperature has been VI
I 10 A JULY standard. though the nights have been
I cool In the mi die of the day the THERMOMETERS
/ ranged from &c to - deg.
! An advance in the seaboari markets. and q
| good local demand. caused au advance OF fully
/ Toe per brl in -four, and the market closed very
firm Al our quotations. Superfne 81 2Oai %
and extra 81 3Ua4 40. Wheat advanced 2a3c
and has been in good demand. Corn and oats
also advanced. and the market closed firm at ouI
quotations Whisky advanced To 3Oc. with a fair
demand. which is met by holders freely, but there
is no pressure TO sell. The distiilers are still
working TO some extent, but that they now make
is being taxed We understand that the leading
distillers intend bulldiag alcohol distileries in
connection with their present establishments, for