The Indiana State sentinel. [volume] (Indianapolis) 1868-1895, 1874-03-24
FINANCE AND BUSINESS.
GENERAL MARKET REVIEW.
MONEY AND TRADE.

congress has shown definitely what law
will be passed in regard to the currency. l
is impossible to name branch of business
either commercial or financial. which nigh
not be decidedly affected by measures OF in
flatiOr, and so long as it remains possible
that the volume of the currency may bt
largely increased during the present session
of congress, so long must business men re
main entirely inactive, or only do "hanG
to IaOuth" business, without letting theil
engagements extend for any length OF time
into the future. In the meantime COM
plants are loud i'm regard TO the small vol
ume and smaller profits of business, both
IN the speculative regions of Wall and
Broad streets, aud also in the dry goods
section and the down town trade of Front
and South streets.
NEW YORK DRY GOODS.
There is not very fisttering show accord
ing 70 the Financial Chronicle ia this line
of trade The advent of warmer weather
has lad tendency to improve the re-
tail distribution OF goods somewhat. and
there has been a larger attendance of buyers
from nearby sections, who have been pur-
chasers of fair amounts of goods in a jobbing
way. The demand or full package lots has
been light, and the posi- ion of the market
for domestic productions in first hands does
not improve any as the season advances.
Cotton fabrics are irregular, and the tend
encY is. as it has been for some weeks past,
toward lower range of values. This is but
natural, aud it is likely that the trade dur.
ing the early months of the season might
have 5een materially greater had prices
lowered in the outset. With the cutting
of rates by jobbers early in the sea
son came more or less general dis
regard for the agreement. entered into
during the winter, establishing new terms
of credit. By departing from this agreement
occasionally iObbers have been enabled to
offer extra inducements to their customers,
and the new terms have been violated by
one and another in the trade until it has
become dead letter. 1t is a singular fact
that this trade is never able to adhere for
any great length of time TO any rule, how
ever desirable that may be established for
it's own protection. Stringent agreements,
with large fOrfeits in case of violation, &c
made alike by iobbers and agents, but sell
dom amount to more than the ordinary nine
days wonder. We are not aware of the de-
merits, if any, of the last agreement" en-
tered into by the trade, but it certainly was
credited with and seemed to possess
many features especially desirable and cal
culeted 10 materially benefit the trade.
GRAIN IN EUROPE.
The Mark Lane Express says: = The
early break up ofwinter, however, in north
ern latitudes, has kept the markets so well
supplied that buyers have ceased their anx-
ieties 70 be largely in stock, and prices have
therefore still been declining, many places
as well as London being Is. to p. per or.
lower for wheat, with only dull trade at the
reduction. The same sort OF markets have
been ruling at Paris, which again notes de-
alone in flour of 81, or 2s. per sack. and a
similar fall in wheat; while the provinces in
many cases. have felt the influences of the
capital, and some hsveg1ven awaysti more,
though the decline has been resisted in the
south, from the short native supplies. H.
however, the calculation be correct that our
wants for the cereal year will be as great as
they were in 1873, our receipts in January
and February have beSn abous 400, 900 Qrs
short. and unless made up when the frost is
entirely gone we shall at the end OF August
be short of 100000 quarters. New York bias
indeed gone down Is. per quarter more, and |
San Francisco also; but a decline in prices
does not increase the quantity on hand,
though Immediate shipments VIII be greater
and dispose large holders to the current rates
rather than risk the future; and so long as
the consumptive trade is momentarily over
done buyers will have the advantage, but the
of holders on the other
hand eventually shorten supplies just at the
time when they are most important, and a
reaction may then, appear as our grapalies
become empty Belgium has followed
France IN giving away about one shilling, \
and this has been partially the case ina Hob
land, but very little change has occurred in
the German markets; and though the Dan
ube Is open, and promises supplies to Hun
gary, il is very remarkable that that prov
erbial land Of plenty quotes rather higher
rates alike for wheat, rye and maize. Toe
civil war in Spain puts that country aside as
an important contributor TO the stock of
wheat here and in France, or much more
might be done in her exports. era.f ~!
PORK INSPECTION.
New York is waking up to the abuses of
her inspection of pork as well as of grain.
The Bulletin makes the following remarks
on the subject: "It is quite clear that the
system now in operation is open to the most
serious abuses, detrimental to our local trade
and needlessly embarrassing to those engag
ed in it. AS the regulations OF the exchange
now stand, the inspectors possess power
which is open to the most serious abuse, and
which, as the trade morals now ruin,
can only be expected to be more or
less misused. In very essential respects, the
functions of ali inspector resemble those of
certain customs officers, whose wrongs and
extortions are now matter of loud protest
before congress. The inspector il made the
Judge of the condition, and therefore of the
value also of meats, as much as the customs
inspector is the arbiter of the value of goods
imported; end his report is binding upon
the seller, while the selection of inspector is
at the option of the buyer. Is it safe to trust
an inspector with such important powers
over the interests of the sellers of provisions?
Ought the chief commercial organizationolo of
this city to give its sanction to regulations
which can so easily be made an instramsnt
of exactlons upon its members? y We do not
say that inspectors do use this power cor
ruptly; we are willing TO believe that the
complaints that inspectors do, through these
powers, exact fees and mail from sellers.
may be exaggerated or unfounded; We hope,
for the sake of the honor of our merchants,
that no such charges can be prov led but, At
the same time, it must be said, that the OPP
portunity tor such corruption is laid in The
existing reeulations- Of the dprodueea ex-.