Nashville union and American. [volume] (Nashville, Tenn.) 1853-1862, 1857-12-09
Monetary and Commercial.


refused to reconsider-yeas 20, nays A.
'h monetary and COmmercIaI,
Tennessee Bonds sold in New York on the Sd a
SCI. st.G
The New York Tribune of the Sd, reports no par
ticuiar change in the general aspect or condition
the money market Of that city. That paper says:
There is great sluggishness in the business of pa
per negotiation and rates for al notes excep. Of The
highest character as to strength high enough tC
be called nominal. These rates of interest are the
unpleasant remnants Of the great panic, and seem
SO entirely inconsistent with the real abundance OF
money, that we quote them occasionally with great
ostrust the correctness of the impression which
they convey in regard TO the actual condition Of
money matters. For prime signatures, the figures
may be stated at from 10 to II u cent On call the
supply is very abundant.
AdVices by the America are calculated to excite
some conflict ofopnons to their bearing and gen.
eral character. Financially, however there can be
no doubt that the news will bear a favorable con-
structiOn, taking the advance in Consols as of
the surest Indications furnished. Money was IN
doubedy growing easier, though dstrust of credits
prevails 70 a great extent as a matter of course.
This isprecisely the operation Of relaxation
Its rel Of coming to strong houses but not to those
struggling under loads too heavy for their backs
all such concerns after another, dropping away
distrust and cold shoulders plainly dis
played. The decline in cotton and breadstufs is
discouraging 10 commercial matters in its super
fetal aspect but should be remembered that these
quotations are but the reflex of our markets, and
that we now getting sympathetic movements from
the other side the of depression reaches the
shores Of Europe.
The statement of the New York City Banks, Of
their average condition for the week ending NOvem-
Der %, shows decrease of S412, 1902, in loans and
increase of 1885, l65 in specie, $780, 1866 in cir
culatiOn, and $685. 984 (nOminaly) in deposits The
actual increase in the latter deducting the average
clearings, is 50, l28057 The average in specie is
again an advancing one, and with the s., 600, 900
just added, the Banks must now hold fully S27,-
100000
The shipments Of treasure from San Francisco, by
steamers, for the month of October, 1857 compared
with those of corresponding period of last year,
shows falling of of S474,7O7, and for the ten
months of this year the decrease is S4,544,792.
The coinage at the San Francisco Mint for the
month of October, reached 81, sos 600 The deposits
were only Sl75. The total coinage at the mint in
Philadelphia during November, was S2,824, 626, of
which there we're ia, 924 pieces of gold 2806O 900
pieces Of silver, 100000 cents.
committee of the Alabama Legislature, to whom
referred resolution instructing them to inquire
INTO the condition of the Central Bank Of MOntgom-
cry and tile Commercial Bank of Selma, which had
suspended specie payments, have reported the con.
, dition of these banks as follows:
The principal liabilities of the Central Bank are
its circulation, $685. 295 and amount due to depos
itOrs, Sl93, 24559-againt assets reaching the sum
Of 81, 757 ,25lI1
The liabilities of the Commercial Bank consists of
amount due to depositors, $37 304 3d. due TO other
Banks, S35 T4S 90; actual circulation, $228, 80
amounting in all to 1902 O29 l3-whilst the assets,
consisting of exchange the different points, 10
cal discounts, and coin in the vault, sums up to
$6l9, 825.91
Your Committee do not, therefore, hesitate to say
that the public mind should not only be at rest
the present sovency of these institutions but to
their soundness beyond the reach of probable CON-
mercial contingencies.
The Bristol TENN Ns,rs, of the 4th says:
We are informed by Mr.. J. F. Terry, the obliging
Depot Agent at this place. that there have been ship
ped eastward on the Va and Tenn road, within the
last ten days, sxty-four loads of hogs, number
ing 3 300 head About 600 will be shipped to-day,
making nearly 5000 head in all. We hear of hogs
coming forward from every direction, and the pros
pect is that the number shipped from this point will
greatly exceed that of any previous season. There
has been quite active demand for hogs here since
last issue, and the price has advanced to $3.50
During the season of navigation which has just
closed, comprising 1913 days, the number of steam
last year. notwithstanding the shOrtness of the sea-
son and the depression of business resulting from
the financial panic. In 1847 the total number of
arrivals was but AZ, thus showing remarkable in
CREASE of trade.
The gross earnings of the Wilmington and Weldon
a. CO. Railroad, for the year ending September 80,
1857, we're S494 sos Sc and the cost Of operating
power" 1921, 500 %, leaving S27O,OO6.42 as net
earnings. During the year, S55, AZ was expen-
ded in fitting up trestle work, and in the purchase
of additional engines and machinery.
The Ohio wOol-clip is estimated to exceed that Of
1856 by at least three million pounds. The counties
in the centre of that State are famous for
their fine wool they formerly for their great
crops Of wheat The estimated value is So 0O0 600.
The quantities Of butter and cheese produced the
present season in the great dairy counties of New
York, exceed that of any previous year, by about
one-thrd. 1t is estimated that in the counties re-
ferred TO- there have been made at least 20 900 fir
kins more butter than ever before in one season.
The GAINESVILLE Chronicle of the 4th, quotes To-
bacco at 5a7c; Wheat ct 65a75c, with upward
tendency, and Hogs at &c. gross and SC. nett.
At recent sale at Sparta Ga, of fOrty-One
groes, belonging to the estate of Thomas L. Wynn,
late of Hancock county, the average price obtained
was $40 each, including old negroes, children and
infants One boy, twenty two years old, common
field hand, sold for $1,000; one girl sixteen years
old, $500. The sales cash terms The
crisis does not seem 10 have affected the prices
Of negroes in Georgia.
The St. Louis Democrat Of the 4th, says:
Sight exchange on the east is scarce at r cent
premium for coin, and ] y cent. for Missouri pa
per Time bills on the east at 90 days, II cent.
off; 90 days, 30 banks taking all offerings where
the paper is satisfactory. This is an excellent tea-
ture, and promotes the forwarding of produce.
Illinois currency is depreciating in value for the
simple reason, that the great lake ports being closed
by ice, prevents the shipment of grain TO create
exchange and it is being sent here in greater
Quantities, and turned into exchange and gold at
from 5 TO n cent discount while at Chicago it
cannot be converted into either, at less than TO g.
The Cincinnati CJBmsrci al Of the 9th says:
Sight exchange on New York continues dull with
increased offerings and the market is unsettled
and irregular The banking houses seemed uuwil-
ling to buy at any thing over premium, though 1902
premium we're the selling rates. The demand Is
quite small. Sight checks on Baltimore continue
dull at > as dis buying rates
The receipts Of Flour were quite large the last
twenty-four hours, footing up 1900 bills, and the
mIrket is duh at So 1904 for superhne, closing
rather steady.
No change was perceptible in the market for Hogs
to-day. The offerings we're light, bat seemed TO be
about equal to the demand Drovers continue TO
pack on their own account very generally. Hogs
have commenced arriving from Indiana and Illinois,
and we may look for large receipts next week.
At Paris, Mo-, Hogs we're selling at 3GSg cents
net and at Evansville, Ia, the highest price offered
was AZ cents.
Nashville Market, Dec. &.
CoTroS.-We heard of a sale to-day, at 1OJc
receipts.
ToBAoco.-We hear ola few transactions in loose,
at S95c.
WHEAT AND FIoUR.-We have change to note
in prices and repeat our former quotations.