Loudon free press. (Loudon, Tenn.) 1852-1855, 1853-11-04
MONETARY

In New York City the demand formoney con-
tnues undated. The rates of interest vary
from Pools per cent, at which number one
paper is sold. Capitalists take long paper with
good names, at these rates in preference to
short paper.
The rumored failure Of Jacob Little and Geo
Law, caused quite sensation in Wall street
The rumor turned out false as to both these
gentlemen, though the latter failed to meet
some Call Loans, for which the stock of Della
ware and Hudson Coal Co. had been left as Sc
eurity, he ordering the party holding the stock
to sell the same, and it has accordingly been
advertised for SALE
The arabia sailed on the 10th, with $l,l94,-
600 in gold; the largest shipment thus far this
season. The total specie shipment since Octo-
Der LIST, is $3,539,568.
The English markets, from last reports, are
very unsettled. The banks and bankers upon
the Continent have followed the example of the
Bank of England, and raised the rate of inter
est, one p cent. Foreign Exchange rates at
l09SGGll0 for best Bankers Bills, which is
about specie shipment point.
The Stock Market is very unsettled with
downward tendency. Erie has sold as low as
G85(d70; Hudson River and Harlem have also
declined. New York Central q cent. bonds
sold at SO. Some four and a half millions of
Illinois Central Road bonds sold here, and in
England, some months SINCE at par; they can
now be bad at so, or there about.
At Baltimore, on the 22d, Baltimore and
Ohio Stock was sold to the amount of 1924
shares at Al being decline of some 400 per
share from last weeks sale. Tho cause of this de-
cline appears to be the verbal report of the
President, that the expense of the read has
been so per cent. of its earnings. The conse-
gent small chance for dividends for some time
to come, affected the value of the stock at once.
At Philadelphia, money is at very tight rates
Of interest varying from II to 10 per cent.
The general feeling in the Money Market at
the East, we may quote, however, is more easy
at last adviees. The banks have discounted
more liberality, aad the whole tone of the r2r-
ket is improving.
A the West, we quote slight Improvement
in the Money Market, not from tie great
abundance of money, but from dminution in
the demand, and an increase of Confidence
The former ates of Pa 10 per cent. are still
maintained; but there is less number one paper
to be had at those rates Loans have been
made, on ample security, at l0(Gl2 z cent.
Amid the pressure our mercantile communi-
ty has stood the test; but one house, Raper, Cox
& CO., having yet stopped.
value Of stocks 50 acted upon by the necessities
Of holders, that we make no alterations in our
quotations, The general tone of the market
can be gathered from the sales of Messrs. Hew-
son & Holems, as reported weekly in our col
ums. No stocks are offered except by those
to sell, and such forced sales are no
true criterion of the market.
The contemplated consolidation of the Hills
boro, and Marietta Roads did not take place as
was expected by some, though large majorities
Of the stockholders of both roads were in favor
Of 1t. But the law, as we understand, in cases
Of consolidation of roads, makes it compulsory
upon tho new Company to redeem such stock
Of each road at par, as may be held by stock |
holders who may object to the consolidation.
learn that large amount of the stock of one
Of these roads has been bought up for this very
purpose, and that there were numbers present |
at he-si10ctiIrg oftlIe stock hQderS, who actual
y came there to get par for their Stock I'm
Ter this law it was deemed advisable not to eff |
feet the consolidation at present.
Exchange on the East is very unsettled; we
DO not change our quotations. For a resume
Of the present pressue,a and its probable continu-
alton, we refer to the leader of our senior ed |
tor in this issue, where it is clearly shown that
a pressure Of any duration is impossible, under
hc existing State of affairs Cin.R. R. Record |