The Indiana State sentinel. [volume] (Indianapolis) 1868-1895, 1875-01-12
GENERAL MARKET REVIEW.
LOCAL FINANCES.

ally satisfactory condition. The large dis
bursements OF the past two months for hogs
and corn, of which Indianapolis has pro-
duced an abundance this season, are finding
their way back to the banks through the
various channels of trade. Collections have
been steadily improving for the past two
months, and since Christmas considerable
amount of old Indebtedness have been set
tied with the merchants here. The full pur-
chas Is were made prudently, aud, IN conse-
quences, tOcks are we'll reduced, and in place
thereof there are handsome bal
ances 10 their credit i'll bank. The
banks are well supplied with ioanable
funds, and are giving their customers any
reasonable accommodations that may be re-
anired. There Is but little inquiry recently
for long loans, and a much larger demand
in that direction could now be accom-
mOdated. But while money is abundant,
the greatest care ia exercised in the granting
of iaYOrs. The best commercial paper, or
that which is backed by good cOllaterals, is
used at ten per cent. for regular customers.
and for outside parties at one per cent.
month. Bankers look upon the business
situation as exceptionally good; they have
not known the wholesale trade OF the city
working so easily as now tor a number OF
years.
FREIGHT FACILITIES AT PHILADELPHIA.
The following letter from Philadelphia
90 the Chicago Tribune will DO read with in
terest here. The trade relations between
Philadelphia and indianapolis have ever
been intimate, and merchants here have been
favored with a liberal share of orders from
the Quaker metropolis:
/ notice every day some item of news re-
garding Cbicago's outlet to Europe via the
Eastern seabosrd cities of Baltimore, New
York, Boston and Portland. but not one word
for Philadelphis; and people may be led to
think that the Quaker City, or
City OF BrOtherly Love and the
largest manufacturing city in this
country, and we think the largest in the
world. Manchester not excepted-is drying
up. But not so; her citizens are wide awake.
They have quietly built and own a strictly !
hrst-class line of iron steamshipS-tbe only
line plying between this country and Europe |
carrying the United States flag. These vessels |
have all the modern improvements for pas
sengers and freight, making good time from |
Liverpool to Philadelphia and from Phila- |
delphia TO Liverpool, forming a weekly 1
line, and through the diligence of |
their officers and agents at Philadelphia, |
Chicago, and elsewhere, they are being /
filed with freight and passengers in |
both directions. This, the American line, |
has large and growing business with Chi |
csgO. Some of the heaviest importers of
goods IN this market are importing eXclu |
sively by this line. Philadelphia also owns |
steamships, built for them on the Tyne.
This is the line of the International Naviga- |
ton Company OF Philadelphia, and is called |
the Red Star Line, and, like the American |
line. is running full cargoes fOrtnightlY, |
gathered up from the Pennsylvania railroad |
and lis feeders. The export and import
trade are Increasing as rapidly az Philadel- |
phis if not more rapidly, than at any other !
OF the Eastern seaboard cities. Phiiadelphia |
has three elevators for grain, the first at the |
West Philadelphia terminus of the Penn |
sylvaDia railroad. This elevator has
a system of Goo bins, and can keep
COO carloads of grain as If in so
many cars, and can be easily and speed |
lily handled. The advantage to be derived |
from this is, that the Western shipper can
have the very identical grain he ships sold |
upon its merits. Then they have second |
elevator built or iron and brick, situated at
the Washington dock. This has capacity |
OF quarter Of million bushels |
of grain, and Is used for storage
and transfer into steam and sail |
ships. and is kept constantly employed in |
this service. Next in order is ELEVATOR three
as we will call it-having been but recently |
completed. 1t IL, without doubt, the finest
elevator ever built on this continent. 1t is |
located at Girard Point. the junction of the
Schuylkill and Delaware rivers, and is
thoroughly fire proof. The bins are of
wrOught-iron, the walls of brick and stone, |
the roof OF iron and slate. Six railway
tracks pass through the building, and
"a cars can be unloaded at one and
the same time. This elevator has a
storage capacity of 100000 bushels. and a
transfer capacity of 1000 cars in "a hours.
This great elevator has a covered track of
dock on each side. The last features of great
interest to Western shippers, when il is IN
derstood all freights TO Europe go by this
means directly to the ships side. Flour,
provisions and other products are loaded in
through cars at Chicago and points west and
20 directly from the car to the steamship,
not being from under cover between point of
shipment and Europe. No greater perfection
can ever be reached, and no cheaper and
more expo ditious means of handling or
transferring freight be devised than the one
now used by the Pennsylvania Railroad at
Philadelphia. The Girard Point elevator and
dock have 30 feet OF water on each side and
at the east end, and have ample capacity to
receive and discharge freight-ten or more
steam or sail ships at one and the same time.
A CITIZEN.