The Indiana State sentinel. [volume] (Indianapolis) 1868-1895, 1874-08-25
FINANCE AND BUSINESS.
GENERAL MARKET REVIEW.
MONEY MATTERS

MONEY hATTERS
After an extended argument on the situa-
ton, the Financial Chronicle reaches the fol-
lowing conclusions: On this view of the
facts one or two things seem tolerably GER
tam with regard to the future. First, we
shall have an easier and moro tranquil
money market throughout the rest OF the
year than has been usual with US for many
years past. Next, the course of business, if
less bouyant than some parsons have con-
iectured, will az least be free from those
spasins with which the money market has
disturbed IL. Thirdly, speculative excite
mept viii be less rife At the Stock Exchange
and elsew here. And, finally, more CON-
ssrva i've caution will control the banking
and financial operations of the country,
both as to railroad building and other works
which convert floating funds into fixed CAPT
tai. There are, also, analogous changes
which are said to be- establishing themselves
among eur mercantile men in regard To
keeping their capital in their legitimate bus
mess instead of taking out part OF II for per-
ilou5 risks and speculative ventures as
some OF them have been tempted TO do dur
ing the demorsliziDg era of paper money
initiation.
The city OF Chicago is shining around
Last week 1t borrowed 500, O0O,-S3o0, 600 for.
80 days at 8 per cent, $4,000 for 30 days at
2 per cent, and 500. 600 ter 90 days at z per
cent. These rates show the state OF the mar
ket.
The Chicago Tribune says: The decline in
Liverpool of tho price OF wheat arrested the
movement of the new crop to this point and
10 the sea-eoast. Wheat is now accumulat-
ing at points along the line of transpOrta-
ton, and awaiting a more remunerstive
price. u will naturally require several days
m 10 to fYcn in fall inn
ceipts at this point, but il was manifest at
once in the diminution of the country orders
for cuTreDcv. In the first two or three days
Of the week the numerous orders for cur
rency threw SO much New York exchange
on the mark : that the price was forced down
from soc. premium TO SOC. discount, between
banks. for $1,000. But. under diminution
of these orders, the rate rallied and closed at
par.
In Cincinnati the Gazette says: Our local
money market on Saturday was easy as
usual at 76S per cent. although there was
some increase in the demand for discounts
at the leading banks for tho income of ma
turing papcr and other sources generally
kept up the supply of ready means which
Is seeking inve stment in this manner. In
the open market prime local business paper
was scarce, and in demand at per cent.
per cent. There considerable cur
rency sent 10 the country, but the supply
was generally ample.
TOBACCO RISING.
The circular Of Thos. c. Williams & Co.,
of Richmond, Virginia, dated Aug. %, is as
follows: Referring TO our circular OF. July
10th, in which we advanced the prices Of our
goods cents per H., we are now forced, by
the continued advance in leaf (caused by
the almost entire failure of the growing
crop) TO put up prices still further. say :
cents per lu. on the low ana medium grades,
and 10 cents per Id. on the fine grades
We regret to be compelled to advance
prices again, and hope IL will not be neces-
sary to make any further advances; but
crop. prices appear low now, as it is almost
certainly aseertained that not over one
fourth of a crop will be made in the United
States this year, even with the most favor
able seasons. The above prices will go into
effect on and after the 18th of August.
THE HOP PROSPECT.
The following, relating to the hop products,
h from Mr.. Joseph Tebb's CIRCULAR:
From authentic information received dur
Ing the pas; week there is reason TO believe
that the unfsvorable accounts recently re-
ported in respect to the growing crop OF
English hops Is not at all exaggerated, and
that wit the most suitable weather for
riPening and gathering the yield must be
very much below an average one. In the
majority Of gardens in Sussex the crop will
scarcely be worth picking. In the upper.
middle and lower paris of Yalding, TO use
an expressive phrase of writer, the crop Is
"done fpr." In Hunton, NetllrsIead, Water
ingburt, East Peckham. Merewortb, Feston
and WssG Farleigh the prospects are better.
One large garden ut the top OF Yalding looks
very prOmising. In Canterbury and neigh
borhood the hops are coming nicely Into
burr, and, for the season, are very promising
Hampshire and Surrey are favored this year,
willis I'm Worcesi eIshire and Hertforoshire
the yield will be small. The speculative de-
mand for hops of last years growth is active.
at advancing prices.
PILE OF WHEAT.
The San Francisco Bullsi in says:
We are making slow progress in exporting
the six hundred thousand or seven hundred
thousand tons of wheat, supposed to be
available for shipment from the current
crop. There were Is cargoes sent offiu July,
which was, perhaps. all that could be ex-
pec<fd for that month. IL was an'icipated
that the number would be doub o in August,
but mp 90 LIST evening only three csrgoes
had bee cleared. Admitting that we hay O
600 600 tnns of wheat for export, the cor d.
ton OF the crop at this wri ing Is as follows:
Surplus 10 export, tons 10000
Shipped In 10 We sei<, tons. 400
Vessels In pors TO load 400 1900
To be provided for tons....-............ ,oe,co
Tons OF tonnage, all 81 which viii DO here BY