Nashville union and American. [volume] (Nashville, Tenn.) 1853-1862, 1858-03-24
OOMMFRCIAI..


and 3(g4 for free banks and remarks: Ten nessee
money has become established at a reduced rate Of
discount, which barely enables the purchaser to
imburse himself by sending it home for ezoksHge."
A dangerous counterfeit in the shape CT raised
notes has recently made its appearance, The ones,
twos and threes Of the Southern Bank Of Kentacky,
have been raised to tWenties. The things well done,
aud will deceive any one but thorough Judge of
money. ANY quantity of these raised notes are
! in the market, and we warn our readers against
them.
The st. Louis Democrat Of the 18th SAYS:
There is g little more demand for money, but 9TH
erwise the market is essentially the same as last
quoted. The banks and savings institutions are
discounting freely at their usual rates On the
street and at the counters of private banks first
class paper meets with ready negotiation at to
1 ~ cent per month.
The supply Of exchange is much greater than the
demand, and rates are about the same, saw eastern
sight DC premium for gold, and &c do for Missouri
paper New Orleans sight quoted at about the same
figures
The Philadelphia Ledger Of the 10th says:
The weekly statement Of averages Of the Phila-
delphia banks for the past week presents the some
what anomalous condition Of an increase in every
item. In some instances the increase is small but
still all the items are larger. The statement is
any material increase Of business. The loans show
an increase Of SOL 40. The item Of specie has in
creased $500 Co., and that due from other banks
| 1881, 6S7. These three items Of resources aqgre.
gate 1854, 356 The three items Of liabilities have
increased as follows: due to banks $50, 956 de-
posits S438, PCS, and circulation S16l, 6l5 10 all
S655,836 being S28, 500 less than the increase Of
resources for the week
Independent of the steady augmentation of the
stock of coin in the banks, there is also a healthy
movement in the other items. The large increase
of deposits shows gradual strengthening Of conf
dence, and the increase Of circulation, we hope is
the result Of the driving home oftbe uncurrsnt bills
of the interior banks There is nc reason why one
fourth Of this deprecated currency should be here,
and if the public wise to their own interest as
little Of it will be retained here after the second
Monday in April next as possible, especially the
bills Of those banks which do not keep then notes
{ at par in this city.
Navigation throughout the West has been fully
resumed, and produce is moving quite freely The
gorge between Wheeling and Pittsburgh, that has
Obstructed navigation for several weeks has given
away, and the Ohio is now open with good stage
of water. The upper Mississippi, Missouri and Il
linos rivers, are also open, and at Chicago active
preparations are being made for the resumption Of
navigation on Lake Michigan. The amount of pro-
duce in the country awaiting shipment is very large
and holders having become reconciled to the prices
that prevail, are now prepared to let it slide This
movement will impart life and activity to the Spring
trade at all the shipping ports while it will also Sc
cure a distribution through the country Of much of
the capital that is now idle.
Another feature worthy of mention in this con-
nectiOn. is the favorable appearance Of the growing
wheat crop OF course the result cannot yet be pre-
dieted with any degree of certainty as the crop is
liable to accident disaster up to harvest but the
prospects at present. are favorable for the largest
yield ever obtained in this country The weather
during the month of February, and so far in the
current month, has been favorable, and these are
generally the most trying months in the year. on the
plants. Nothing serious is now to be aprehended,
except such disasters as may occur Immediately
preceding harvest
letter from Barbados, dated February u, states
that sugar making has become general throughout
the island, and the article is coming to market in
large quantities The crop is the largest ever made
on theisland, yielding 60, 900 hhds.
It appears from the Boston papers that the Bay
State mills instead Of being about to resume work
in full are merely using up what remnants of stock
are left on hand preparatory to winding up entirely
The Presidents of the different banks in Augusta,
had meeting the 18th, and agreed to resume specie
payments the lst Of June, provided the banks Of
Savannah and South Carolina will resume at the
same time.
Nashville Market, March %,
COTTON.-The sales to-day were Light, at prices
ranging from 81 to 1Oo.
ToBACco.-We heard of the sale Of a few hogs
heads at prices ranging from 400 to 900.
PRovIsIoSs.-BacOn finds ready sale at Sc, hog
round, and Lard is in demand at &c.
The Cotton Markets.
AUGUSTA, March 20.-The market, since the re-
cepuOn Of the ATaba's advices is dull and depressed
quotations unsettled, with declining tendency.
CHARLESTON, March 19.-Sales of Cotton to-day
1900 bales at declining prices. Good Middling III
a Isc.
SAVANNAH, March l9.-We have not had so dull a
day to report in time to-day but few buyers
were out, and were demanding such concessions as
to stop transactions The sales have been too lin
tied, footing only 100 bales, and too irregular to
form any basis for quotations. and therefore omit
them. We hear that Middling Fair was offered at
12c. and the buyer refused. The latter offered III
and the seller refused This grade was quoted yes
terday at l25o. We hear that lot was sold at &c
decline, but it not reported. The depression is
| caused by the unfavorabe accounts from the Gulf
ports, and desire to wait for further foreign &C.
| counts.
MONTGOMERY, March 18.-Our market continues
dull and inactive, buyers not willing to pay rates
demanded by sellers. About 200 bales sold yesterday
at previous prices-say from 10 to ll4o.
MOBILE, March 2O.-Sales yesterday 900 bales.
| Middling llsllB. Sales Of the week 1900, and
receipts of week $4,000, against 3,4OO bales last
year. Decrease atthis pOrt32 00O and stock I5S OOO
Charleston Market, March 10.
FLOUR-The market has presented no new feature
since the date Of last publication. The trans
actions have been confined solely to lots for citv
consumption, and the sales we're principally of Su.
perfne descriptions in barrels and sacks, at 1915
for the former, and 81 62R for the latter at which
price 1000 sacks were sold in one lot.
BACON-The market opened very quiet; as the
week progressed, however, the demand improved,
and quotations Of the 18th inst have been well
maintained Some 300 packages Of Sides have been
sold at l04 and 1850, the bulk at the latter figure
Shoulders have also been selling freely at prices
ranging from S to SIC. Hams are selling freely at
l5c, while other descriptions have been neglected
! prices for which are nominal
LARD-There has been a moderately fair demand
for Lard this week. which has been supplied at prices
ranging from lO8 to lie in bills, and from u TO
l2EO in kegs. The stock in first hands is light.
savannah Market, March 10.
| FLoUR-There are ample stocks in market The
demand is good, but prices somewhat irregular.
We quote Superfne S525@5.50; Extra S600@625; !
eAiAAg PV.AcN4O'OOs
BACON-The stocks are quite equal to the demand,
which is only moderate. We quote Shoulders 80 |
G9lO; Ribbed to Clean Sides, 10f6ll4; Hams, y !
9l3. For small lots prices are shade higher.
LARD-There is fair demand and stocks are am
pie. We quote in barrels, II J; in kegs, l23e.
WASHINGTON, March 2O.-Nr. Phelps, Of MissOu-
II, Chairman of the Committee the Pacific Rail |
road, has introduced bill which was referred to |
that Committee, to aid in the construction of rail-
road from st. Louis to San Francisco 1t proposes |
to pass through Albuquerque, the Zurnlo village, |
and the TETON Pass half of the read to be built
by the State Of California and the other half by the
State of Missouri the United States to grant money
and lands to aid in the building of it.
If when the first bonds are due, any indebted
ness remains, California and Missouri are severaly
to pay the balance. Missouri is to begin building
at st. Louis, and California at San Francisco, and
proceed continuously. There to be four branches
to the road two North and two South.
After twenty miles are built, FIVE per cent. U. S.
thirty year bonds are to be issued to the State,