Daily State sentinel. [volume] (Indianapolis, Ind.) 1861-1865, 1864-01-15
from TIE ciainnnf Price Current. Jan. n. E
Financial and Conn mercsst Summary
for the Past ~ eek.

WEIR.
The serious INTERRUPTION 10 commerce conse-
quent upon the extreme cold weather. shich
kept merchants st home. and block AIDED the rail.
WAYS TO great extent. N de the money market
more stringent. because il increased the number
OF borrowers. and ~ the sane time decreased
the supply OF currency. and there a consd
cradle amount OF paper offered outside the regu
lar banks. and negotiated ~ 10 10 ~ per cent
The scarcity of currency at a tune when political
economists have been warning ssaBSt the nhs-
ton OF the currency. seems To be paradox but
can be accounted for on good and logical
grounds. doubt. and among the reasons whv
currency IS scarce. when the amount IN circu-
lation Is by FAR the largest il ever before.
We may merely mention the following: A
larger amount IN the hands of the masses of
the people than ever before known. tens
OF thousands having sums OF ready money
placed in their possession. in consequence of
the war. who never had any before The with
drawal from circulation of the notes OF the
leading Western banks. The use of the Gov
eminent currency by banks for the purposes Tor
which gold had been used previously The
large sums held in the various Government
repositories. which cannot be used for com
mercial purposes and last but not least the
great incre ,se ia the amount of currencw now
needed in business. because Of the abandon
ment Of the credit system. Ii really takes one
third more currency to do business IN the West
now. than IL did before the war. for this cause
Exchange advanced in the early part of the
week but owing To the pressure i'm the money
market the advance was not uniformly sustained
though owing 10 the falling off ia the shipments
of produce. the supply being made in this way
has been very light, and currency had 10 be
shipped to some extent As il il, however, par
buying and oUe-teuth premium selling, have been
the prevailing rates Gold advanced towurd the
close. with buOyancy which has not been ob
servable in the market for il for some time. Ten
nessee paper has deprecated generally during the
week
The closing quotations for coin, exchange and
Quartermasters and COmmissariats paper were
as follows:
New York.............. i dis par
Cold. .52e5S prem. 5s,l a54 prem
Silver......-. ..43a546 prem. 469is prem
Orders or Washington, -. az d.
QuartermSsters
Vouchers, city....... 961s 997
Gold assumed decided upwarl tendency il
New York toward the close Ui the week aud haC
reached l54 there at nom ye-ierd ~. When thu
prices OF our domestic produce advanced to
point which stopped the exports 10 foreign coun
tries. il became certain that gold would be large
exported To pay fur the foreign goods. and there
fore advance. and more especially when the ar
mics had gone into winter quarters. We lOOi
for further advance in sold before spring.
The weather his been very cold all the week
and the railways being impeded bv snow aud ih
navigation OF the river by ice. the receipts an,
exports OF all kinds of merchandise have beer
greatly diminished ami but limited amount o
business done The receipts Of com Hour. oats
and many other articles. have MT been equal T.
the city consumption. AID IA i'm, ort,nt advanc
IN prices his taken pl ice IN consequence Their
Is nO doubt IN H. were II not for the state OF th
weather. the receipts would have been more lib
era. but the temperature Vas so low that the
could NOT he brOus hf dressed or ali, e: a cnn-id
eraLle number OF The way, and IN HE pens here
when the cold weather set ia were frozen Il
death The total receipts during the week wer
2Jlil. which makes the total receipts thus Tar
343S2 Pieces advanced Ia 5jr, and at tn
cio~s pm pound averages would have brOu.h
s. 90to s.
Quite speculative dem nj arose for lard ant
mes pork III the early part OF the week. and pri
ces advanced materially. and toward the clos
ali other articles Of the hng product advanced
Sles of mess pork were m'de Ia the extel o
1910 barrels. closing AZ Sl6 81. Sl7 Sd an
81 % TOR packing OF 1912. 1923, aud Ill
present season
Lard advanced 70 BE. aud was in good de
mand ~ the cn-e Heal and gut lard sold Al
high as II s4c Old prime at II anl prime new
country ~ ~. bat holders asked a further al
vance 1T the close all articles.
Bulk shoulder, ak need Ia IL. sides to So
and clear sides Ia 915c. but all were held az a
higher last evening.
l. i evident that there i, a strong speculltiv
feeling in the markets throush bout the country
and it seems To Us it Is but fOre'aSteOf what i
coming The clOsentss 0i the money market is
check upon the movements of specul ,tors. how
ever and greatly dmiui~hcs transactions
Flour did not UNDERGO any chance
Wheat advanced cent- per bu-hel.
Corn advanced BE per bu,hel but was rattle
unsettled at the close ~ there WIS good dea
offering for future delivery. hut the stock here
light ami the wants OF distillers large and pres
ing. especially since whisky advanced to 81 i
New York
Rye advanced to 81 ~, and oats to SS690c
bur with better suppl, these rates could not b
sustained
Whisk, advanced to o7Qeoc. alG at the clos
holders asked 9Oc
There has been speculative demand for Glove
seed and prices advanced to 81 Is. and at tn
close holders asked s.. Timothy advanced t
50 25
There has been no change in groceries, bu
the feeling in the mlrket firmer AT the clos
under the news from New York
PROFESSIONAL.