Nashville union and American. [volume] (Nashville, Tenn.) 1853-1862, 1858-02-28
COMMERCIAL
,nrnne,arr 10 -CommerelaL ,

York for the week ending the 2eth inst, shows q
remarkable gain in specie, the ineredse being !,
lse sol, nakiug tbstOtal (s$l,4l6Q76 the largest
ever held there by the banks, The deposits have in
creased deductng clarings) Si9ll s0S5 ;-the loans
have decreased S76,572 through the soaroyOf prime
paper; and the circulation has decreased S64,65S
The comparison With the corresponding date o.
| last year. shows a very mEEked difstehcein the
strength Of the banks, the expansion being less
while there over three times the qdaatiy Of specie
( on hand. gsf- ,rt, rgs- - 7.rA1-eu 81 sstr
/ The changes in the money market for the week
have been very slight, The street rates continue
nearly the same; per cent. for prime paper and
from 8to 70 for second class. CAN loans abundsni
at 8 to per cent. The accumulation Of specie in
the country has not ceased, and the imports from
California for the past week show an excess Of one
million of dollars over the foreign exports. The
domestic exchanges have been turned sgainst New
York by tie demand for specie, by the resuming
banks in the South, and also by the excess Of the
cotton shipment over the usual payments Of the
West to New York. these latter payments being nov
largely made in cotton dFsfs payable in New York.
The Baltimore Patriot Of the 2Sd says, that notes
tated, first class at Sag and 10 per cent per annum
But little demand for second class, and rates ere
irregular, ranging from 1al per cent month
Money on can 7a8 per eenE per annum, and easily
obtained on satisfactory collateral.
The Augusta, Ca baRks are. selling sight eX-
change Op New York at one per cent .....-,.- ..
The Bank Of England has reduced the rste-Ot
interest TO 81 per cent? ThisswOuld indicate an
easier feeling in the English money market. The
London correspondent Of the New York Conner.
eaI ,45ssrtseT in IetteF received by the Baltic,
| says: -........... ~. .sr-....
1.-THE influx Of gold continues, snd There is no
prospects Of any adverse turn. total equal to
81. 500 900 is on its way from Australia, Of which
nearly two7thirds may be considered overdue From
Russia also we get amounts, and the arrivals
from New FORK are considerable At the same time
the Indisn exchanges have become less unavorsble,
and the denan& for silver for shipment to that
country will therefore lie moderate. Thus the pros
pect is good in all direciOns."
"In the Stock Exchange money can be Obta!ned
for short periods at }, or even p cent, while
from month to month the rate does not exceed or
% q cent In the Discount market Tlcent is the
general charge or the best paper but transactions
have taken place at 2fa22 Under these circumstan-
ees Of course the Banks, notwithstanding their
Their mihiEaum is q cent. Whether they viii
reduce it shortly 70 81 is question on which there
is some difference CT opinion. They will certainly
be iudisposed 10 take this step in haste, but aeeor-
ding to present appearances they viii have to adopt
il before long be content to remain without busl-
ness" '''''''' T.a'F-
cat Amsterdam the Banks of Holland haze Just
reduced their rates from to Al fP cent At Ham
burgh, where .afsW Eesks<baOk il VAS II, 1t nov
stands at r cent" .-..rr.
The Louisville 00Uyi5F Of the 25thssys: ...'
The packing around the falls has closed with the
slaughter and packing Of 255, SOB hogs this season
against 245 $50 the previous season. The product
this season shows an excess Of 10000 barrels Of
pork, and nearly one million pounds Of lard, The
aggregate packing at al points shows large in
crease over the previous season, but how much has
not vet been aseertained, At Cincinnati this week
the market opened very brisk at S600sS6 90 but clos
edeasier, ct the range Of So s75aS6 %. The hogs
arriving quito small, and rarely lot is met with
which averages 900 Tbs. The receipts for the sea-
son sum up ,7G2, the largest number ever pack
ed. We have heard from four places in Iowa,
indicating O slight falling OF in that State, as
compared with last year. but packing YES still going
on, though the season was drawing to close; with
falling of in weight Of about 10 per cent, and in
the yield Of lard of about II per cent The returns
from Southern Illinois continue to show an in
crease innUmber and weight.
The Cincinnati Commercial Of the 25th says;
There vas astTonger feeling in the EaFks for Pro-
visions yesterday, and the tendency Of prices Eas
upward, and Advance Of &c. on bulk shoulders
and sides was established, the market for a'cOsing
buOyant Mess Pork is hell al 1850 with buyers q
1900 L&Td is held at % with bGgers at g
The demand is chiefly speculative. Flour ruled
pretty fair, but the closing Of navigation acted
as a drawback upon those who have been buying for
export. Whisky is steady at lsf. The receipts Of
Hogs during the week did not much exceed 1000
head The whole number which has been received
during the season. according to the Price Current is
248 686. The packing business is nov nearly closed
The Chattanooga Advertiser of the 25th, learns
that 80 Tennessee Bacon is standing fairer in the
Southern markets than that packed in portions Of
Ohio, Illinois and other Western States from the
fact that buyers were afraid that bacon cured in
those sections might be infected with what termed
"hog cholera " disease that killed large number
of hogs the past fall At the time, We read of nu-
merous accounts where large numbers had died, but
passed the circumstance by with little consideration
Il is said that in several instances where this disease
made its appearance among lot of hogs, owners
pitched in and had them slaughtered, fearing that
the disease migkt become general and prove ruin
Gus loss. If such be thecsse and an investigation
int, the facts should be made 4 would be well that
BUYERS SHOULD be little cautious and wary Of pur-
chasing bacon from localities where this disease
prevailed. The bacon Of Tennessee, now as ever
stands high in the Southern markets, owing to the
manner in which our hogs fattened, and the ex-
celent way in which the bacon is cured"
Nashville Market, February 27.
CoTroN.-The receipts have been quite liberal
during the past week, and the market exhibits
rather an upward tendency, closing to-day with
sales at lOalOIc.
The receipts of Cotton at this point, as at sl the
ports the country largely behind those Of last
season. There are many persons sanguine enough
to believe that the last crop viii turn out equal to
the crop Of 1867, but We ere utterly ut loss to
recognize any plausibity in their speoulatiOns So
far as an opinion can be based on the actual receipts
at the ports, the stocks on hand in the interior
towns, and the probable quantity in the hands of
planters, the deficiency this year, compared with
the last, will be several hundred th Ousand bales
The receipts at this corresponding time last yesr
were comparatively light while at present the plant
ers and holders of Cotton appear to be pushing for
ward their stocks with unusual activity. From
some intercourse with the planters in this section
from conversation with those who are in personal
as we'll as epistolary correspondence with reliable
persons in different sections of the cotton region
from notices in the Southern paPers-and from the
tone of the letters of foreign agents in this country
to their houses in Liverpool, We are forced TO the
conclusion that the last crop will be the shOrteat
that has been gathered for several years. And we
may add that the demand for consumption will very
probably be corrsspOndingly short.
There is nothing apparent at this time to indicate
any mataz.sl change in the Cotton trade. Conf
dence is gradually being restored in all departments
Of business and hssIthy aud stable condition
seems certain If the crop shOuld plainly indicate,
in Msy, that the receipts will not much exceed
:, 800 900 bales, and if the spring should be back.
gard, and the new planted crop be thrown back as
it wss Iastyesr, wild spirit of speculation will
doubtless take hold Of the Cotton trade, and prices
advance even higher than last yeSr.
TOBAcCO-Priled Tobacco is coming in quite free
ly, though the receipts Of loose have fallen of
slightly. Sales have been made during the week st
prices ranging from 90 to $50. One hOgshead of
very fine, raised by Mr.. R. H. Stem, of Bedford
county, sod on the 25th for %, the highest price
attained this eassou .---- ."-