Nashville union and American. [volume] (Nashville, Tenn.) 1853-1862, 1857-09-22
COMMERCIAL.
Monetarr nnd Commercial.

Monetary aRd Commercial.
There is no diminution of the pressure at New
York among borrowers; but the supply of capital
is little more abundant, there is prospect that
the market win work little easier, and the strin-
gency be gradually relaxed. There is evidently a
more cheerful tone of affairs in Wall street, and the
banks promise to do more for their customers dur
ing the current week. The condition of the New
York banks within themselves is stronger than for
many months past. The Bank Statement for the
week ending September II, shows balance of
twelve millions in specie-an increase of nearly two
millions since last week. The discounts amount to
about Sl10, 0OO O00-a decrease of nearly 81, OOO-
OOO
The Bank Statement is very gratifying to the
more conservative presidents and cashiers who are
ready to yield the point of further contraction
and to pursue less rigid policy. The New York
Eoening Post of the 18th understands that those
boards who met during the morning discounted
freely for their Dealers and it is the general impress
sion that the present extent of loans may be main
tanned without difficulty
The stock market opened yesterday at q very
material Improvement, the advance ranging from
to q, and without any excitement provocative of
a reaction.
The transactions at the New York Stock Board
have fallen to about half the usual proportions of
an ordinary state of the market. They have ave-
ragged about million day for the last week, and
about two thirds of the sales have been for cash.
The whole amount of dealings since the 18th of July
reaches seventyeight millions of dollars, with an
equal proportion of cash and time transactions.
The Board Of Brokers seem at length to be
aroused to the disastrous operation of long time
sales, and have adopted rule by large majority
20 to 2O) that they shall hereafter be limited to
thirty days.
The bank stocks range from 10 to 20 per cent.
below par, and many of them 80 per cent. below the
market price on the first of August.
Rates in Boston are from Is to IS per cent
Capital is evidently the increase The banks
are getting into a more comfortable position.
The reports Of the English money market by the
Persia are considered very favorable The rate of
interest was from to per cent, with abundant
supply. Intelligence of the financial troubles in
New York had not reached England
The Cincinnati Enquirer of the 18th, says:
Notwithstanding the difficulties in the Money
market, the transactions reported on Change to-
day we're larger than we had known for some time,
especially in Flour and Wheat. In the former we
notice the sales of 1900 brls. at 445a4 so for or
binary, and 81 60a4,7 IS for extra and White Wheat
brands, which is a decided advance on yesterdays
rates The receipts were 1851 brls.
The arrivals of Wheat fair, amounting to
1900 bush. The sales were to the extent Of 1000
bush. at S6a87 for Red and 95c.al, 03 for White,
which is also advance.
The St. Louis Merchants Exchange Reporter,
of the 10th, says: The greatest difficulty here has
shown itself in the decline of exchange Operators
timid about shipments, and are unable to draw
against tAem sell bills except at heavy discounts
We have no quotations for exchange this week
There is no demand whatever for time bills, and
sight are at a ruinous per cent Kentucky, Indiana
and Ohio currency is shaved at 3 to per cent for
large amounts Of Illinois and Wisconsin there is no
sale"