Nashville union and American. [volume] (Nashville, Tenn.) 1853-1862, 1858-01-24

jan >. Jan. Q. Jan. &c.
5490s3 s95,792J7 s9945363 Inc.s6sl, co
Circulation 6,fgO4Ol 6,j5,454 5,S4g32j Dec l65.laQ
Deposits s 20 sS sS9 ~ Inc 8 -
In addition to the above large specie line, the
Banks holdover twenty-si1 hundred thousand dollars
of State currency which may be considered as equal
to specie.
The shipment of gold, on Wednesday, promises to
be very large and will include 200, OO0 Mexican
dollars. The moderate supply of strictly first class
bills induces many parties to ship goldn preference
to paying the rates asked for exchange.
Some Of the new 500 Treasury notes made their
appearance in Wall street to-day, and we're bought
by Messrs. Trevor s. Colgate al 4 q cent discount
The larger notes will probably be the market in
day or two.
The New Orleans Price Current of the 10Th reports
slight improvement in the outdoor money market,
so far as it regards the facilities for disposiDg Of
first class long dated acceptances and good mort
gage notes, but in other respects there is no mate
rial change to notice Short commercial paper, of
which there is now but comparatively limited
amount offering, owing to the restricted character
of business operations for some time past continues
to be very difficult of negotiation on the street
about al that is considered really choice being taken
by the Banks. That paper says:
We continue to quite short commercial paper at
2a32 e cent, q month"; and long dated acceptsnces
and good mortgage notes at from l2alS II cert, T.
annum. As there is now better feeling in the cot
ton market, and confidence exhibited regarding
the future than has been felt recently it is not at
all unreasonable expect that the trade and inan
ces of our city in all their various rami6cations will
begin gradually to improve cotton being the great
controlling lever in the commerce of the county.
The St. Louis Dssloerat says that notwithstanding
the sringency in the money market, there is no real
difficulty in obtaining accommodations at the regular
discount houses upon first class paper. At the
banks and insurance companies the rate of interes
to regular customers is = cent, at saving instlu
items and 10 2 cent, at private banks p and Is T
cent, the street 10 to so T cent per annum. The
Democrat says:
Currency is still in small supply the rates Of dis
count remaining as before quoted-say for Illinois
and Wisconsin money and II cent; Ohio, lndi-
ana and Kentucky to 2 y cent Missouri bills at
u and &c of. In exchange there is a better supply,
though selling and buying rates are not materially
changed. We quote eastern sight buying at par
and selling at J '2 cent premium for gold. For
Missouri paper the selling rate is 4c premium. On
the south We quote selling at J and lo premium.
The demand for time bills is not large, and rates
continue at Il, .! and 81 for 80, 80 and 80 day
paper.
The Cincinnati Enquirer, of the 18th, says:
The application for discount in the regular quar-.
tiers are still large but the outside demand for money
has materially declined
Sight exchanges on the east were very firm yes
terday, and Baltimore and Philadelphia improved.
The rates for the former 8aI discount buying,
and par a discount selling price; for The latter,
premium buying and premium selling rates.
Gold was firmer, and dealers paid premium in
New 81 Ffr1a al
vaneed to premium, selling figure.
Horace Greeley, of the New York Tribune, writes
to his paper from Chicago, as follows
OF the New York and other Eastern jobbers I !
have met looking after their debts and debtors |
throughout this region, l have found no one who |
estimated the average proportion Of the mercantile
debts past due from the west TO the east, which may
be collected this winter, above twenty-five per cent
while the usual estimate is decidedly below this.
One merchant VIII has been eleven weeks in active /
circulation, considered twelve per cent liberal /
estimate All agree that to attempt to force coec- /
tons by legal process is sheer folly. Ultimately,
about nifty per cent Of the mercantile debt now due /
may be collected. judge that the aggregate de- |
mand for dry goods throughout the Northwest in /
1858 will not be more than hafthat Of 1856 or 1857
restricted as were the fall purchases Of the latter
year STILL if the seaboard jobbers want to run off
on credit any amount Of silks, delaines, cloths. &C.
&c, do not doubt that they find persons will
ling to take them
TIE Memphis Bulletin, of the 2lst, has the follow
ing sensible remarks in regard to the sale of the
present cotton crop:
The indications now are, that, with the improve
ment on the other side, the price of cotton will 20
up to sn average Of ten cents A very important
question is will the planters be satisfied with this
and will they sell? Upon their determination in
the premises depends much Of the prosperity of the
country. free sale of the crop at these rates
cannot fail to alleviate very materially the malsdy
Of ''hard times" persistence in holding to the
end Of the season for still higher prices will
5uredly bring much Of distress and sacrifice.
We are not given, as readers know, 70 tender
ing adsies to our planting friends-belsving, as we
Do, that they are generally quite compete mani