The Indiana State sentinel. [volume] (Indianapolis) 1868-1895, 1875-06-24
FINANCE AND BUSINESS.
WEEKLY BUSINESS REVIEW.
GENERAL ASPECTS.

tt be considered that anything be
vond the dull routine of the heated vacation
season is not to be looked for in business
circles until the fall trade. Still, the bust
ness OF the week past has not fallen down u
the July apathy, though the signs begin Il
show themselves. The country is quiet, On
not settled in business channels. While
there are no excitemeUts, there Is not on the
other hand a feeling of settled perlnanency
in regard 10 the course of industry and trade
Neither capital nor labor are prohtably EN-
plovsd up 10 the capacity OF the country
and as consequence the nation IS un-
double dly suffering serious loss. In this
regard, The nation differs not from an indi-
yidual. III its meaIs OF production anu
profit id loss must ensue. 1t is 9
slow year, but fortunately not disastrous
MONEY MATTERS
offer no new features for comment. The
price of gold goes up and currency is sut-
ficient for all present demands. Mercantile
collections from the country are satisfacto-
~, and now, at the middle of the year, 1t
NAV be fairly predicted that the trade IN
staple goods will make money and come out
az the end of the year witt fair balances and
in healthy condition. A paragraph In the
Bankers Magazine for June reports for the
INDIANAPOLIS CLEARING HOUSE
the clearings for four years past, and the
prospective figures for this year, as follows {:
In 1871, $50 600 OO0;. in 1872. SIS. 900 900; in
1873, $4,000 900; in 1874, s55,OOO,OOO; in 1879,
the estimate is S65, 100000. The Clearing
House was established in 1871, and now re-
ports on twelve banks. 1t is thought by
some that with fine Chamber OF COM
merce and many new improvements of the
business aspects of the city, the banks
should make some new and more impressive
showing in their Clearing House. AS 1t Is
people don't like very well to be inquired OF
too closely about its locality and affairs. An
IMPORTANT DECISION
in regard to forged orders on savings banks
was lately given in Buffalo, which interests
all depositors in those institutions as well
as the savings banks themselves. The case
is entitled Appleby VS.. Erie County Saw
ings Bank of Buffalo. In 1873, plaintiff had
to his credit on books of defendant, a de-
post of 1925 90. One Clarkson, stole the
plaintiffs pass book from his trunk, forged
q receipt in the plaintiffs name and drew
the money from the bank. DEFENDANTS by
laws provided that possession OF the pass
book was sufficient evidence of ownership
TO authorize the payment of moneys due
thereon, without further inquiry on its
part There was some evidence going to
show that Clarkson, upon presenting the
pass book at the bank, acted in manner
calculated to arouse suspicion, also that
there was material difference between tn
forged signature aud the genuine one writ
ten in the signature book of the
bank. Defendant claimed that having
over % 600 depositors, it is impossible that
tie officers OF the bank can recognize them
al, or even become familiar enough with
their signatures to detect forgerIes, and that
the bank Is protected By the bylaw before
mentioned. The Superior Court of Buffalo
directed verdict for the defendant. Upon
appeal to the General Term the verdict was
sustained, and the New York Court of APP
peals has affirmed the judgment with costs.
TIE Magazine says: This decision takes
from the depositor in savings bank one of
the important advantages of a bank account,
viz, security from robbery. 1t is an unwise
evasion of responsibility if deposits pay
able to order are 10 be traded like coupons.
payable to bearer, and if the money repre-
sented by pawnbroker can
be stolen as readily as bank note"
GROCERIES,.
This mornings advices from the East point to
a frmer market for sugars; the demand is
heavy and for a month past has been growing:
the refiners are working less than their capacity
and are at present generally oversoId; refiners
prices are l09l01sc for standard "a, and g4gy5sc
fer white extra L. Holders of coffee firm anu
PFGng are and so az sq R %snSs
by The better class Of trade,for their superior
drink ing gu alities. but are high. Eastern job
range:rom 1871 for ordinary to is4@is% for good,
and SI5I9l95 for prime and choice aDgold
Cheese are active and have sustained nodecliee
lowest point an6 the next change
will be an advance. few in
ing at lower Prices but the iarsest part Of that
sold in this market is strictly prime. Syrups |
are quiet. Molassss dull. Rice active, firm and /
unchanged. Teas remain inactive. Spices dull |
and unchanged. DRIED f uiJs meet with lessen |
fraction In order 10 luce stocks to safe limit.
The trade for prunes this season has been he |
heaviest ever known here and prices have been |
higher than some weeks since. Saginaw and |
Lake salt has been declining. our quotations are |
trade since the first week of June has been en- |
cOuTagingly steady and this week opens fair. |
There Is nothing OF speculative nature In bust
ness and b ewho had the courage TO buy large |
ii mes of goods ahead with the view of getting |
more than fair margin OF Pronts viii have lit |
that buys nearest the needs OF bis trade will in
all probability be the better of Of the two men |
pace with trade, and il good scold |
would loosen money IL would be given freely, |
DRY GOODS.
Merchants report satisfactory trade for the |
week past and the demand for summer goods is |
still brisk. Linens and the exceedingly cheap |
Merrimac percales go of with commendable
are so low priced that the demand is a brisk and
growing one No branch of trade in this city gives
promise OF better reckoning at the years end /
imam that OF dry goods, although IL is necessary
10 handle imme0se gu lniiies OF goods to ac- |
rumulate a large aggregate profit.
THE WOOL. TRADE
has been unusually large the past week for this
season. one firm has handled at least 5000 |
pounds. But this spirit over, there Will be a
waiting for the country stores TO Ill up again.
rhe prices are unchanged, and buyers are
Wholly at sea in their calculations how they
will come out, except so far current sales and
are made from day TO day. There is
little to be said Of
~ GRAIN AND PROVISIONS
which remain dull and weak No material
Iuctuations have been experienced for several II