Indiana State sentinel. (Indianapolis, Ind.) 1861-1865, 1862-03-10
WHOLE NO. 1888.
From Cincinnati Price Current March 5th.
Financial and Com an e rcial Su mary
for the Past Week.

in the loyal States. and have increased the conf
dence of the people in the power and perpetuity
of our Government to degree never attained
before. The courage of our troops and the con-
quests of our arms will stand in bold relief on the
pages of history of the Western continent, and be
read by people vet unborn with wonder and ad-
mration We have within the last FIVE weeks
captured or compelled the rebels to eyacuate fye
of their strongest positions, have completely de-
morazed a rebel force $4,000 strong. retaken
territory equal in extent TO Great Britain and
ireland, Holland and Belgium, and captured over
twenty thousand prisoners; and taken provisions,
arms and other munitions OF war worth hve mil
lions dollars, including what was destroyed. And
not only this, but have demonstrated to the world
that our people can lay down the implements of
industry and take up those of war. and after
few months of discipline perform deeds OF yalor
which viii live in history and compare favorably
with those of the veteran legions of Wellington
or the great Napoleon.
The demonstrations of power and indomitable
courage displayed by our troops will give the
United States prestige and position among the
nations of the earth she never had before, and
will command the fear and respect of those by
whom we have heretofore been despised or de-
rided.
The continued success of our troops, together
with the passage of the Treasury note bill, which
is a law, have had most favorable infiu-
ence upon finances and commerce, and business
men feel hopeful and cheerful generally. The
demand for money has been fair, but the market
continues easy for good business paper at Sal2
per cent
After the passage of the Treasury note bill. in
the fore part of the week, Treasury notes went
up to y premium in New York. This unsettled
the exchange market here. and for day or two
bankers we're anxious TO sell at par.
Toward the close, however, the rates declined
to par in New York, but such large amount
had been sent from the West pending the ad-
vance and the supply of exchange thus largely
increased, the market remained dull and t closed
heavy at par(G1s prem. selling rates
Gold has become fat, having declined to q
prem. in New York. Ii is dull here at prem.
selling and do. buying rates. The bankers
not paying over Is dis. for exchange on New
York
Wepublish the important portion of the treas
ury note bill it passed both Houses, in another
place. Ii authorizes,
/. To issue one hundred and fifty millions of
legal tender notes, but they not receivable for
duties.
2. The notes are fundable at the pleasure of
the bearer into twenty-year six per cent. stock,
redeemabe at the pleasure of the Government
after five years.
g. That the Secretary of the Treasury may be
prepared to fund the notes and maintain the
treasury. he is authorized to issue FIVE hundred
millions of six per cent. stock, as above.
4. All interest on Federal securities is TO be
paid in specie. Should specie not accumulate
from imports in sufficient amounts to pay the in
terest, then the Secretary may sell stocks to the
best bidders for specie.
5. The demand notes and all the one and two
year notes now outstanding, all of which are by
special acts receivable for all public dues" are
to be cancelled by the Secretary as fast as practi
cable. The legal tender notes can be re issued
fast as they are received at the Government
Offices.
6. The Secretary of the Treasury is authorized
to issue any denomination Of legal tender notes
not less than five dollars. 1t is understood that
he will issue 6ves, tens, twenties, ffties, hun
dreds, five hundreds and thousands.
ALI doubt as to Federal stocks, including these
3-l0 Treasury notes, being exempt from taxa
tion is set at rest BY the following clause in the
treasury note act just passed by Congress: "And
all stocks, bonds and other securities of the Uni
ted States held by individuals, corporations or
associations within the Urited States. shall
be exempt from taxation by any State or coun-
ty"
The weather has been exceedingly changeable
since our last. 1t has been mild and spriDglike.
with regular thunderstorm Saturday night, ac-
companied by and sleet and on Monday
and yesterday it was quite cold, with high
wind
In the general business of the city but few
changes have taken place Of marked Importance.
Flour has ruled very dull the supply being large,
and the demand quite limited and prices declined
25c. per bril- and closed nominal at the decline.
Super6ne, S4 2Oa4 Is, and extra, 81 500
40. Family, S4 so.
Wheat declined largely, and closed dull at 6Sa
90c for red, and 95a9Sc for white. which is de-
cline of l0c per bushel. The advance in whisky
has increased the demand for corn, and prices ad-
vanced lc per bushel yesterday, closing at Sic.
Oats firm at 2sc. Rye in fair demand at 52a53c,
and strictly prime samples of barley at 65c for
spring. and zoe for fall; but inferior OF either
kind is slow of sale, and there is a large amount
of such offering.
Whisky has f1uctuated largely under the pros
poets of an excise duty, and closes at 2Oc. A
large demand is expected from the conquered
rebel territory There has been an immense
quantity of this article bought speculation
here and elsewhere, and is held by the purchasers
in anticipation OF a duty The stock in this city
is not less than so 900 barrels.
The bill reported to Congress places duty of
l5c per gallon. but it is difficult to say whether this
will be increased or diminished in passing through
both Houses, neither is il certain that a tax will
not be levied ON that in store at a certain date af
ter the passage of the bill.
Butter is scarce as regards choice roll, and lc
higher.
Green apples advanced 81 per barrel owing to
light supply.
Dried apples are in good demand and = cent
higher
In groceries there has been general dullness,
and coffee which has advanced to 2211 1@23c for
choice in New York, has been quite dull here all
the week, and sales have been forced at 1870
1880 for good to prime, but the jobbing rates re-
main at l91a@22c.
Sugar very dull and lower. The demand is ex
tremely limited.
Hardly anything doing in molasses. The re
tail rates are 36(d41c.
The demand for provisions has been limited
and irregular since our last, and prices are lower
The pork crop exceeds what had been expected.
and this neutralized the influence which the cap
ture of Nashville and the immediate prospect Of
the opening of the Mississippi might have had
Mess pork has been neglected though offered
freely the last few days, at $ll 50all 10. The
speculative demand has ceased.
Bulk pork declined to 31z and 4sz for shoul-
ders and sides, with very little demand for the
latter, but good one for the former at the quo
tation
Bulk hams have been in pretty good demand
at AZ, but they were held at ~. and this rate
realized TO some extent.
Lard declined to 7a71z. and not in much re-
quest. Keg. country rendered, sold at ~.
There has been very little demand for bacon;
shoulders can be bought at 4, sides at So, and
clear do. at 6J<, and email lot of the lat
ter sold at Sc 40; they are for army use and not
much in market, smoking having been done but
to limited extent. Quite a large number Of
holders not disposed TO sell their stocks at the
above quotations, under a belief that as soon as
the Mississippi is opened there viii be reaction
in the market, and prices again advance. whilst
others are disposed to sell, though not to press
the market by making further concessions. as this
could not be done to any extent without produ-
cling large decline
The demand for sugar cured hams continues
good at 5lS(d7ls the latter rate for canvased.