Nashville union and American. [volume] (Nashville, Tenn.) 1853-1862, 1858-01-17
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The st. Louis DtaosTaf Of the 10th inst says:
Considerable stringency has prevailed in tn
mErkel during che Week though all frst class pape
has been accommodated readily b. our several dis
counting institutions. The regular rates cOntinu'
81 &, & ~ ahd 10 per cent per annum, while on th
street the interest ranges FROM Il to 23e per mouth
Gold is quite scarce, considerable Quantities haV
ing lately been shipped 10 the east to keep up bal
anoes il favor Of our bankers.
Exchange is scarce though in not 90 much de
maud as il was q few days ago. Sight bills are sell
! lug on New York at DC premium for gola, anu on
/ New Orleans al to DC for gold, Eastern ehecAs
are bought at &c premium for Missouri paper, mas
4 ing the difference between 1t ana COIN ABOUT go
/ The quotations for time bills are unchanged.
In currency thereis no material Inference The
s71nrIips are still inadequate, and rates continue as
Follows; Illinois auG Wisconsin money al anu I
per cent discount Ohio, Indiana and kentucky &C
l d toe Of. s1-
Tine Baltimore Patriot of the llth reports the
money market o. that city more stringent. AgOOd
deal Of paper is Offering in banks, fair proportion
af which meets negotiation, and large amount is
bsiuo offered in the streets What is termed second
class is very difeult to negotiate First class pa
peris nov negotiated at 10 70 y per cent. per an
num- Second class ranges at 2a24 per cent. a
month, with very little demand.
The Cincinnati Enquire Of the 18th says:
In Money and Exchange there was nothing new
Yesterday. The supply Of Currency continued lin
tied and the demand large. Tbs applications 81
tbe Diseount-houses were unusually numerous for
SATURDAY. New York Drafts we're hrm AZ sas buy
ing. and premium selling price Gold was very
Jun, anJ some dealers would not pay more than
premium.
The CoulereiaL Of the same date says;
The receipts of Hogs continue large, and the
market greatly depressed dealers feeling moi httle
discouraged under tle influence Of such uneXpect-
Ell large amounts at this advanced period OF the
year and the worst feature is THAI sections already
supposed TO be exhausted continue 10 send IN large
numbers The market was 50 much unsettled TO-
day that prices must be considered nominal, the
sales given furnishing indication Of the state Of
he market aLshe close.
Provisions are also duh, and prices tending down
ward.
Flour was dealt in to-day very spariDgly, and is
dull, with downward tendency in prices.
The New Orleans Pries Current, Of the 9th inst,
says:
The business Of the week has been somewhat in
terruUted BY rainy weather and the Intervention Of
a holiday, but there has been some movement in our
leading staples, and il will be seen that Cotton,
under The influence Of later AMI more favorable Eu
ropean advices, has partly recovered from the de-
preston Of the early part Of the week.
On Saturday the Niagsras adyices, from Liver
poo 10 the lgtn utlmo three days later than those
previously TO hand, we're received, reporting de-
cline in the Liverpool Cotton within the week
of I'd r ID aud quoting FAIR Orleans I'D Middling
ditto sd These adyices, il will be seen, caused
decline in our own market Of about one cent q 10,
but on Monday favorable turn in the Liverpool
market was reported by the Atlantic the sales tor
three DAYS having been % 900 bales, Of which specu
lators took 10 OGO bales, and with advance in
prices of I az ID z ID. The quotation given for
Orleans MIddling Is 6Bd, which would indicate an
advantage Of 81 IN that grade and it is stated that
the market clOsedfrm. The money market Waseasier,
and ConsOls had advanced "a z cent, being quoted
al 936 a 49, for account
The pressure for money continues to be very great,
but there are comparatively few transactions effect
Ell through the Intervention Of the discount brokers,
even Of signatures considered in ordinary times the
most unexceptionable. The banks, though discount
ing with some beralty, have necessarily TO be very
cautious, and the amount Of relief they afford Is
wholly INADEQUATE toneCt the c-rent wants Of trade.
In the few transactions out doors Of which we have
heard the rates before quoted oOntinne to govern
SAY for short commercial paper from 81 4 cent
per month and for long dated acceptances and good
mortgage notes from J. a is g cent per annum.
The following are the comparative prices Of Cot
ton in New Orleans On the 9Th of January, in the
wars nofpl