The Indiana State sentinel. [volume] (Indianapolis) 1868-1895, 1878-01-02
FINANCIAL AND COMMERCIAL
MONEY AND THE MARKETS.

OFFICE on THE INDIANAPOLIS SENTINEL,
MONDAY EVENING, Dec. 81, 1877.
The local money market has undergone no
changes worthy of extended comment to-day.
The demands for loans have been fair. and
Sirst-class,cOmmeTcial paper is being negou-
ated at and 10 per cent.
Eastern exchange is in fair demand, and
counter transactions are being made at lilo
premium.
Commercial
There was a fair amount of business trans
acted in all branches of trade to-day. Many
dealers were busy invoicing their stock, get
ting ready for the commencement of the new
year. The grocery market is fairly active, and
prices are well maintained. The New York
Bulletin, of Saturday, in speaking of that mar
ket, says.
Coffee On Brazils the confidence of holders
shows the same prominence noticeable TOR a
day CT two past, about all the really desirable
parcels being limited to full range Of cost,
and a refusal TO snow samples where buyers
~ - S 80 1oI S.ti,-a ar The rnon,enf
owing in the main TO the natural dislike TO
enter upon fresh engagements until after the
and there is a hopeful feeling that matters
will improve next week No sales reported
here, but at Baltimore 1000 bags, ex "Serene,"
and 5OoO bags, eX "Braziian."
For the mild grades there is some tendency
TO stronger tone in the way of holding stocks
and offering with greater moderation, import
ers feeling hopeful of an additional demand
with the commencement OF the year, and full
rates are asked. We could not learn, however,
that any business had been done from nrst
hands. Java remains quiet, with a firm tone.
Sugars:-Raws generally continue in very
strong situation, and holders, with the gain
recently made, are more than ever confident
that little "twist" can now be given the mar
or POSSIBLY a larger proportion of the stock is
under close and determined control, and own
ers are likely TO withhold supplies until it is
evident that no further squeezing OF buyers
can he made. On muscovado, 75E975Ec
or fair to good refining continue low
anything can be bought, and SIC for
continues fair, and for the day we learn of $50
hhds centrifugal at SIC; lS boxes claved at
there has been made public for yesterdays
record, 20,734 bags Cuba at &C; 209 hhds
Demerara, and 500 hhds Cuba on private
Terms.
Refined not quite so active as last noted,
but still fair movement going on, and the
market retaining firm tone, with tendency
TO further improve on some grades, especially
yellows.
There was but little doing in country pro.
duce.
Receipts of eggs are liberal, the market dull
and prices nominal.
Butter is quiet and unchanged.
Poultry is in fair demand, and prices are I'M
changed.
to-day there was some inquiry and packers
We're not anxious to sell at ruling figures.
A good business is lssing transacted in dry
goods at our figures.
The New York Journal of Commerce, in re-
viewing the market, says:
No general activity is TO be remarked in any
class of goods during the week closed, yet
there has been a larger movement from agents
stocks, and more business with joDbers, than
is usual to the closing week of the year, while
IL
styles have been cleaned up much better than
for some seasons. Many jobbers' views
OF late years In reference to carrying
stocks TO a corresponding season have
undergone radical change, hence many
sales have been effected during the present
month at low, but good, prices, since they
were the best that could be realized; but they
are fully as high as could be expected next au-
tamn with The additional cost Of per cent for
pleasure in noticing, as II indicates tendency
20 Legitimate trading that favors the probable
ity OF semi,annual assets being arrived at with
a reasonable degree of certainty.
No argument that can be advanced will JUS
tify distributors or manufacturers in carrying
special or seasOnable goods to the correspond
ing season because the per centage of loss to
effect a sale is greater than was conceded
might be made. The regular demands OF trade
have left them unsold because they We're
thought or had been found to be unprohtable.
and the cheap johns" who buy them at
this season Of the year do so because
they ara cheap for the quality irrespective of
now nearly ended several failures with lob
bers have occurred, the primary cause Of
which is traceable to the fact that they had
higher ideas of the value OF their stocks than
did gilt edged" buyers, their assets showing a
clGss Of bills receivable Of very doubtful char
acter, and stocks regularly assorted with styles
and fabrics of every seasons purcha'
We regret to state it, but very few distributing
merchants have recognized the Importance OF
the "sell and repent" policy, but until IL be-
comes a cardinal principle to be rIgidly exc
cuted every six months, 1t is useless to lay
claim to any surplus of assets, while the store
house Is full Of "repacked" goods increasing in
cost at the rate of one per cent. per month.
We are without any feature to notice in
the market, aud review of the trade for
Christmas week must not be expected TO
abound with choice phrases, such as slarge
sales" "higher prices" an "active market"
and numerous buyers present. Such not
the case, nor Is there any indication in that
direction until after the close of next week.
There has been fair movement OF leading
styles OF cotton and clothiers' woolens. with
some new business done in spring hosiery, but
that inactivity usual to Christmas has been
present for six days.
Some partnership changes have been an
nounced, and failures have been reported, yet
the gravity Of the market has not been
changed, but on the contrary has preserved
the usual monotony.
There has been but little doing in wheat for