Daily State sentinel. [volume] (Indianapolis, Ind.) 1861-1865, 1862-07-10
From the Cincinnati Price Current of the 9th.
Financial and Commercial sum ma ~
for the Past Week.

The demand for money has increased some
what, and the supply Of currency being light, the
money market has not been SO easy. The propo
sition to tax the notes of banking institutions,
which has been made in Congress, has induced
caution on the part of bankers, and they are, no
doubt. retiring their circulation, in order to be
prepared for the tax, in case it should be imposed,
which is quite probable, we think; because it will
become sooner later a measure of absolute
necessity, as we have heretofore stated, to pro-
tect the National currency and the people. The
bill authorizing the additional issue of Treasury
Notes has not yet passed Congress, but it will
be passed the present week. the difficulty be-
tween the House and Senate is, what amount OF
il should be in small notes; the Senate wanting
it fixed at twenty five millions, and the House
at fifty millions.
The offerings of business paper are moderate,
and at the close Sale per cent were the rates for
acceptable 60 and 80 day paper. Exchange has
not been SO abundant, and the market closes firm
er. Gold and silver advanced materially. De-
mand Notes are also higher. We quote:
Buying. Selling.
New York. go. 70 td14dls. par
Gold. l01s prem. IL prerV
Silver. ..........6 prem. prem
Demand Notes AZ prem
In New York. under the panic, stocks declined
par, and certificates to 97e, but portion of this
decline has been recovered. Gold advanced to
lO34, Demand Notes to 514 aud Sterling Elk
change to l22, in that market
In the markets for general produce there has
been no animation, and the amount OF business
done has been quite small.
Flour has been quite dull, and prices in favor
of BUYERS fully Zoe per brl. Superfne. 50 o0a
3 80; extra, S4a4 10. and fancy 81 25a4 10
Wheat declined to &c per bushel, and is dull
Sales of new crop have been made at Lexington,
XIV, at Soc for white. Small samples have been
offered on Change The quality is very supe-
rior though the color of the berry is hardly as
bright rs usual. The crop in Kentucky this sea
son is a ve.y large one, and the yield good. A
scarcity OF harvest hands is being complained Of
\ large business was done IN corn, the sales
reaching 1000 bushels. Distillers bought
largely, and prices advanced to 3Sc, but this adj
vance was not sustained and prices declined t.
SOC, closing dull The dstilers have purchased
as much as they need during the remainder d
the month. Rye declined to 4Sc. and is dull
By the Is, OF August large decline in both
corn and rye is inevitable.
The speculative demand for whisky increased
and prices advanced TO 2cc, but at the close tht
demand was less active, and the market wa:
rather heavy. Prices are nearly as high in th,
market Just now as they are in New York, ID,
difference being only lie per gal The cost price
of this article, upon which duty is paid. will b,
33d34c, hence many suppose there is still goOC
margin. Ii the demand would fall off three
fourths. after the tax law goes into operation, il
would change calculatio:ls very greatly. Ii i
not always that an article brings what i
costs.
The demand for beef cattle has been good
the Government buyers were in the market anS
bought very freely. and prices of the lower grade
advanced fully 25c per GENITAL. No change ia
prices of the better grades, and not many IN th'
market Fair brought 81 1898; good 50 -
and prime 50 30 gross. Sheep are soc per centa
higher, and in fair demand. Hogs in light sup
ply. aud are - per GENITAL higher. Lambs sci
at 81 50d2 per head. There has been n'
change in butter or cheese; the supply OF buttei
fell of some owing to the extreme heat Of th'
weather.
Continued dulness pervades the market for pori
aud bacon, and though offered AZ lover prices
there seems TO be no demand, so that quotation
cannot be given. Mess pork Is offered At - 300
10. and bulk pork at 2ls @3c for shoulders, an'
a. a &c Toe sides. Bacon i not inquired for
A Govern ment contract for shoulders Was takei
Yesterday at 81 54@3 81. packed in boxes an'
strapped, which i c in value above that packs