Daily State sentinel. [volume] (Indianapolis, Ind.) 1861-1865, 1864-06-10

success. and expect to see it outive all of the
mere limitations OF European eliques that have
hitherto usurped and moncpolized the name of
club in this city.
From the Cincinnati Price Current, June s.
Financial and Commercial Summary
for the Past week.
Gold has fluctuated between 1870 aud 1874 du-
ring the week. and the market for it not much
excited at any time; but it is evident that moth
ing has yet been accomplished by the army OF
sufficient decisive character lead that conf
dence which IS necessary TO cause decline in
gold 1t is true that Grant has pushed his lines
close up to Richmond, but should he attempt to
take the place by regular siege approaches it is
clear that it is some time before Richmond will
fall; but should he be able to hem the rebel ar
my IN there, and cut off the supplies, then the
speedy surrender would be inevitable. In any
event, it Is clear that those who expect Richmond
will fall fall in a week or two, are doomed to
disappointment These the reasons why gold
does not go down. Sherman has pressed for
ward during the week, aud at the latest advces
where It is supposed great battle will be fought
All that be said of the state of military af-
fairs just now is that our commanders in Virginia
and Georgia have been successful in all their
movements. so far, but without any decisive re
suits.
The money market has been quite stringent
with pressing demand, chiefly from spectators,
aud rates of interest advanced fully 2 per cent.
the closing rates in the open market being lO@
u per cent. Indeed, at the close it was easy to
make loans on the best security at the latter rate
This pressure is being felt in all departments of
trade To greater or less extent, and has made
conservative dealers more cautious An i'm.
mense amount of produce Is held by specu
lators, including pork, -four, whisky and lard i,
which should have gone forward long ago. and
performed its legitimate mission in commerce
and finance; and necessarily to bold this produce
an unusual large amount of money is indispen-
sadly necessary.
There has not been much done in Government
paper holders preferring to it collateral
upon which to borrow money. Currency has
been in light supply, and a considerable amount
has been brought out from New York. and in
this has been developed the fact that the New
York bankers are short in the supply of legal
tender currency, for instead thereof they have
chiefly paid out in response to orders from this
market the 5 per cent legal tenders Orders on
Washington are dull at 1902 discount. and
vouchers at 1904 discount; ) Dos are offered at
1861 The demand for Government bonds is
light, and must remain pending the taking of
the new b per cent. loan now about to be offered.
The subscription to the 1910 bonds has dmin-
ished perceptibly. Exchange has been dull and
rates somewhat irregular during the week, but
they did not change essentially. The quotations
for coin. exchange and Government paper at the
close were as follows:
BUYING. SELLING
New York. I9I-lOdis. 80 dis Qpar
Gold.... .sO992 prem. 94905 prem
Silver. 1880 prem. 50 prem.
Orders or Westinghouse
Quartermasters'
Vouchers, city 969965s
The weather has been quite hot during the
week, with but a small amount of rain, but there
has been no want of it felt so far in this section
and vegetation has progressed quite rapidly. In
the Northwestern States, it has been quite dry
and the crops, We are told, need rain badly; but
notwithstanding, speaking in general terms, the
agricultural interest are in good and
promising condition, and the corn is grow
ing finely and looks very healthy. There
can be no doubt now that the basis is laid for an
immense large corn crop; all being necessary to
make it so is favorable season heneeforward
The accounts from the growing wheat are very
encouraging. and we are informed that grass is
verv forward and unusually good
Business in general continues moderately ac-
tive, but without any especial excitement in
any department.
Flour has not changed, and the demand has
been but moderate and chiefly of local nature.
but small amount having been bought by spec
ulators, which must be attributed in part to the
closeness of the money market, for an impor
tant advance has been established in New York.
Wheat declined 7@sc per bushel, and closes
dull. Corn has been somewhat irregular; ear
declined to 81 % and 81 TO- whilst shelled has
been in better demand and advanced to s. Is,
but again fell back TO 81 l6. Oats have been
dull at SIC. Rye declined to 81 %, and closes
dull. No demand for barley, and prices are nom
inal. Whiskey ruled firm at 81 80 up to Mon
day, when pressure to sell put prices down &c:
but yesterday, after il was known that the Sen
ate had passed the tax bill, as reported TO 1t by
the committee so far as the tax Whisky
involved the demand became active, and all TO
be had at 81 % was taken.
The clauses in the bill, relating to whisky. as
they now stand, taxes all made after June LIST 81;
after October lst 81 %, and after January lst,
1865, 81 30. The stock on hand is not taxed.
1t is probable that the bill will pass the House,
without taxing the stock on hand, for it has been
rumored, and the rumor is generally credited.
that fund of one hundred thousand dollars has
been subscribed by the holders of the article. to
be paid To somebody, in case the stock on hand
is not taxed If the maxim is true that every
man has his price" then there need be little fear
the feat will be accomplished. and the public ex-
chequer minus ten million dollars or so.
Butter has been in better supply, and prices
declined 465c Cheese unchanged There has
been good jobbing demand for groceries with
out essential change in prices. Mess pork has
been active, and large business was done IN the
fore part of the week at $50, but holders having
Withdrawn from the market. there has been lit
tie or nothing done during the last three days
1t Is stated that s3l al 50 would be paid for
city brands; if so il is evident that there no
sellers at these rates, because there have been
no sales. This demand has been speculative al
together. based upon what operators regard
strong probability. il not an absolute certainty,
of shorter crop of pork next season than has
been known. The probabilities are that If the
corn crop IS good. there will be fair supply OF
pork; but be that il may. good supply of
old pork, made 10 from the crops OF three sea
sons, will pass over 10 next season, and a large
surplus OF the las; crop of lard will also be in
tact. There is no doubt in our mind that an un>
usually large proportion OF the lard and barrel
pork of 1861 j. still in the West.
Lard advanced TO lac. and bulk sides 20 1914
Not much done in bacon, and prices are nomi
nally unchanged Hams rather dull and demand
light.
Linseed oil dull. and prices in the large way
nominal 81 4s. Lard oil frmer. and some
houses &c; 81 ID for extra. net. cash.