Indiana State sentinel. (Indianapolis, Ind.) 1861-1865, 1862-05-19
WHOLE NO. 1,193.
From Cincinnati Price Current May IL.
Financial and Commercial Summary
for the Past Week.


every safe way of investing it is being sought
after with an eagerness and anxiety quite unusual
in this country. Railway, State and Government
stocks, which are regarded safe, are being bought
rapidly and rates have largely advanced within
the past week, and we behold the remarkable
fact of the stocks of the United States being
actually above par, when the nation is engaged,
not in foreign for its rights but actually in
an internal struggle for existence; and strug-
gle, too, of such immense proportions that the
people of other lands regard it hopeless. Here
is fact for the contemplation Of capitalists,
statesmen and political economists, a new fact in
the history of nations. On last Monday United
States skies sold at the New York Stock Board
at 215 per cent. prem, taking gold for the stand
ard This is certainly new thing under the
sun.
The demand for money, in this city, contin-
ues of the most limited nature, and the banking
or money dealing business is now the dullest and
least profitable of all others. The exchange
business, which was great source of profit, now
hardly pays expenses, which is one of the results
of the Government currency. Good business pa
per can be easily negotiated at per cent, the
quotations being 6alO per cent, but good parties
to whose paper no risk is attached. find no diff
Guilty in obtaining money at per cent.
The demand for exchange has been quite mod
crate, and the general aspect of the market has
not undergone any alteration. Gold has advanced
owing to the advance in New York, not in con-
sequence of any demand in this city. We quote:
Buying. Selling
New York. par Il prem
Gold. ........... 1929 prem. $685. prem
The weather has become dry and warm, the
thermometer during the day time being as high
as 80 at noon the last three or four DAYS.
Spring work with farmers has been prosecuted
with great vigor and an immense breadth of land
sOWn the last three weeks with oats nd snrinC
wheat The ground has baked some owing to
the previous rains, and some rain is needed now
to facilitate corn planting. The fears of short
crops of spring wheat and oats, entertained in
April, owing to the late, wet spring, have been
dissipated, and deficiency in the crops for that
cause is now feared.
The scarcity of labor in the agricultural dis
tricts, owing to the large number of men in the
army, will no doubt result in diminished breadth
of land being planted with corn, more especially
as the price is now so low; but good supply of
it will be in the country nevertheless, should the
season prove favorable a moderate crop, with
the quantity of the crop of 1861 still in the hands
of farmers, will make the whole supply full
average one.
The prospects of a large fruit crop were never
better, probably. there having been frost to in
jure the buds.
Fall wheat looks wonderfully well in all the
States, and should this month and the early part
of June be moderately dry, there seems to be no
doubt that the crop will be large one. The
only danger is that it will grow too rank and
rapidly should the weather be of forcing char
acter.
There has been a moderate degree of activity
in the general markets. Prices of breadstuffs are
lower, whilst those of provisions are generally
better. The unfavorable news from England,
and the depressing effect it had on the New York
market, caused a decline in -four and wheat,
.l-a L
taken place had the receipts been large, and had
had they been forced on this market As it was,
holders were not willing to submit to the decline
asked by buyers, and in many cases stored in
preference to selling. Superfne flour sold at
81 load is, but was held at S4 20a4 %, and il
was difficult to buy any below the latter quota
tons, at the close but it was only by feeding the
demand as it existed, these rates could oe real
lied
Wheat declined to 9Oa93c for red, and 95a9sc
white, and closed dull.
Oats advanced to 36c, and corn to 35a36c, with
good demand.
Rye advanced to SAC.
The distllers are buying corn and rye quite
freely, owing to the continued active demand for
whisky.
Beef cattle declined fully 50cTper GENITAL, and
the market dull; good shipping lots sold at So 25a
3 80 gross. The supply was in excess of the de-
mand. Hogs declined 25c. and very dull; the
demand is confined to the wants of the city butch
ers. No ice curing whatever doing this season
Sheep firm.
The Provision market has been firm and buoy
ant, holders not being disposed to sell, generally
speaking, under the impression that demand
from the South will soon arise, and lead to
speculative movement and a consequent advance
in prices, and it has been difficult to buy, with
out paying the advance rates asked by holders.
Mess pork has been bought to the extent Of Z 900
brls, on New York account, at SO 50alO Is
for country, and $40 75all for city, closing at
the outside rates This pork was taken. we un-
derstand to fill contracts made there for June de-
livery, and is being shipped by canal and lake at
the low rate of 81 25 per brl. There has been a
good demand for beef, and 1000 brls extra mess
sold at Sl2 80; this also goes to New York TO
6l Government contracts. Bulk pork has been
held at 81, AZ and Size for shoulders, hams
and sides, but these rates being above those buy
crs were disposed to pay, there has not been much
done.
Shoulders and hams sold to a modetate extent
at 315 and 415c packed, and il the demand had
been met at these rates, large amount would
have been taken
There has been hardly anything done in sides;
the demand for Liverpool has ceased, though
shoulders aud hams are being still taken for that
market
Lard has been in good demand, but il was held
higher which, to a great extent, checked bust
ness; 71sc has been freely gaid for good country
rendered, and 73zc for prime city, but at the
close, under the advices from New York the
market was less firm. The stock of this article,
in this city, is not heavy, and good deal is be
ing held out of the market, under the belief that
it is the safest article to hold till autumn, in view
Of the large quantity which has already left the
country.
Butchers lard is dull at 6a61zc, without pack
ages; head and gut at 61aa65sc, and kettle-ren-
dered gut at 654c.
Bacon sides have been in moderate demand at
531c, but at the close were held at &c, and hot
much in the market. No demand for shoulders;
they are held at 334a4c Sugar cured hams are
in fair demand at &c.
A firmer market for sugar, coffee and molasses
in New York, has induced corresponding feel
ing here, and prices of sugar are in favor of sell
lers, and no forced sales making, which had been
the case TO great extent previously. There is
an improved jobbing demand, but all articles are
purchased sparingly and with reference to current
wants The importatlons continue light and the
amount going into consumption fair.
Lnseed oil is very dull and salable only in the
small way at S3aS4c. The demand is quite
light.
The whisky market has been greatly excited,
and prices went up to Die, but prices in New
York giving way, lc of this advance wss lost,
and the market closed at 20c. The distillers are
making all they can, and dealers and spectators
are laying ups large supply for the future.
Should no tax be put on the stock on hand, as
soon as the law goes into operation. all the dis
tillers will stop and the demand will be supplied
from the stocks; and as all dealers in the North
ern or loyal States have been laying in heavy
stocks as well as numbers of others who are not
dealers it is quite probable that any Northern
demand which may arise will be easily supplied,
and that an unusually dull and lifeless market
will follow, except Southern demand arises;