Nashville union and American. [volume] (Nashville, Tenn.) 1853-1862, 1858-02-07
COMMERCIAL


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at s91 and $40, 900 ct s95.
The New York bank statement for the week end
ing the sOth ult, shows an increase of 81 COZ 447
in oans SAB s72 in specie, S88 $50 in circulation,
and (nominally) 1893,7S3 in deposits. The actual
increase in the latter after dedueting the average
of cearings, is S944 29S There is, without doubt,
over thirty-tWo millions in coin in the bank vaults
The average is rising one, although the influx
from the .interiOr is not strong it was few
weeks ago. The EDeang Post, Of the ID instant,
says:
There is more activity in the money market, but
from what We can learn the demand has been cheer
fully met. Payments about this time of the year
are always more less heavy from rents, interest,
&C. The offerings of mercantile paper are increas-
inc. and the banks show a stronger disposition to
increase their line Of leans. Stock loans do not
meet with much favor from them, and we learn that
the most of the enlargement in discounts last week
was upon commercial obligations. The scarcity Of
prime paper is much felt by all classes of lenders,
and the ruling rates las per cent for sixty day
dates, and 9al0 for and months.
The Baltimore Patriot of the ID says, business
paper continues to offer freely ct bank, and dis
counts are fair A good deal is also found on the
street. with sales Of first class at l0al2 per cent
per annum Second-class dull and irregular; not
much in demand. Money on call 9alO per cent;
Gold CAT per cent premium.
The Augusta (Ga.) Chronicle and Sentinel of the
4th, says:
We are gratifed to announce decline in the rate
for Northern Exchange Several of our banks are
checking to-day at . per cent premium This ar
CUES well for the future, and shows the effect which
the late movement in Cotton is producing on none
tary affairs If the planters continue to sell freely
it will operate like magic upon the exchanges and
commercial affairs of the country.
The St. Louis Democrat of the third instant, says:
ain money matters there is to be noticed a very
sensible depreciation in the value Of foreign cur
rency caused as it is stated, by greater supplies
The quotation to day based upon several transac-
lions which have come to cur knowledge, is as fol.
lows: Illinois and Wisconsin bills at lc discount for
Missouri paper. The quotations last week was
and &c discount; the discount the same currency
for gold is % and &c.
Gold is also pentier, and We heard of transactions
to-day ct &c for Missouri paper.
The supplies Of exchange are larger than the de-
mand. Selling rates by the banks, Of sight on the
east, continue at &c premium, and by outsiders at
par. Sight for Missouri paper is quoted at and
&c premium.
In hogs there is little or nothing doing the sup
plies being only sufficient for the wants Of butch
ers. Packers continue to offer "a 25 for heavy
! hogs.
The Cincinnati Commercial of the Sd says:
The Money market has not undergone any change
since yesterday. First class paper passes without
much difficulty, st 10sl2 per cent. per annum, but
the offerings of other grades continue in excess Of
the demand, and by this class Of borrowers money
is taken outside at Is to "a per cent.
The Daily Price Current of this afternoon, fur
nishes the following statement Of the receipts Of
hogs for the season:
Total for the 488
I" number packed last season...............344 5l2
The receipts to date are in excess OF the whole
number packed in any previous year, except l848,
when the the cutting reached 100000
The market was firm for hogs to-day at $5.50a
1924, with demand greater than the supply Pro-
visions we're very firm, but sales were not large,
owing to the high pretensions Of holders. There
were buyers for bulk meat at 54a64c. packed, for
shoulders and sides, which we're held at 53a1c.,
and small lot Of sides cold at this figure. Ness
pork was held at S13.75a14 with buyers at $3.50
Barrel lard sold to fair extent at SIC. for prime
Buyers we're not disposed to follow up the advance.
Flour continues dull and prices slightly easier,
closing at S3.6Oa3. 10 for superfne Ohio.
Nashville Market, Feb. 6.
CoTToE-CottOn is coming in pretty freely, and
there is good deal of animation in the market. We
heard of sales yesterday at 8I@93 and to-day sales
during the week t to &c.
The receipts of Cotton up to noon to-day reach
900 bales against 986 at the date last year
This heavy deficiency in the receipts is attributed
to the fact that planters have been holding back for
better prices and that the receipts Of the present
and coming month will materially lessen the def
cheney The receipts of the past and current week
show a considerable increase over those of the two
previous weeks. If the receipts Of this month and
the next should realize expectations, there can be
but little doubt that the most favorable time for the
planters to sell will be as soon they send their
cotton to market
In the European markets money is plenty, and at
favorable rates of interest," and in the large CONNER
cal cities Of our own country, good paper is readily
negotiated at low rate. Money is seeking invest
ments in bonds stocks, SC, which are low, and not
in mercantile or commercial operations In the face
Of very light importaiOns, our home factories are
doing but little and not One-third Of them are in
operation-in a measure, the same condition of af-
fairs exists in Europe. COnsOls or Government
securities have advanced, and yet manufacturing
industry has not yet recovered, and comparatively
few mills are in operation.
We find the following comparative statement of the
imports of foreign dry goods at New York in the
TTi6un of the 3Oth ulimo. 1t refers to the bust
ness of the previous week and since the first of Jan
uary.
For the avssk 1856, 1857. 1858.
Enid At the port, s2,571 5S5 50, sol, 779 S721 511
Thr'n on market, 298O,6G8 8,0O2,179 liz, 280
Since JAM l. 1856. 1857. 1858.
Entered port, sIO,6S6,771 rOSS6,476 81, sG6, 144
On market, 1885 l64 1O.635, 988 3,7O9,O 84
The table shows a very large decrease in the i'm
pOrtations of manufactured goods, of which cot
ton is the principal commodity employed in the
ufacture; and we do not find the enterprise of our
own manufacturers excited to supply the deficiency
but on the other hand, the spindles and looms at
home are measurably unemployed How long this
condition Of affairs will continue and what will be
the result, we are not prepared to state. Now, the
cause Of the stagnation of trade may be found in
the want of available capital by manufacturers and
in the want of confidence among mercantile classes
and it is possible that active trade will commence
at an early day But until something is manifested
that looks like stability in the sale Of manufactured
articles the price Of cotton cannot be expected to
improve and it is very questionable whether pre-
sent prices can be maintained. It is prudent for
planters well as dealers, to look at all matters
calculated to affect the price of cotton.
ToBACCo-Ths receipts of Tobacco continue to
improve Sales at A. Hamilton of eight hogsheads
at $50, 400, AS, $50, 500, $50, $50, 40
Loose is selling at 2a4}.
WHEAr-The receipts still continue light, and we
hear Of no change in prices, and continue to quote
prime Red and White at 5Oa55.
PRovIs1oNs.-BacOn is arriving pretty freely, and
is selling st &c. hog around. Lard is dull at Sc for
prime,
GRoCERIEs-The market is well supplied, the ad-
ditious during the week having been pretty large
We hear of no change in prices and continue to
quote Sugar at CAS- Molasses 22a25, Coffee IOalI3
The Baltimore market is quoted firm on the I'd
inst, at 9EslO} for fair to good Rio, and lO!a1O8
for prime.
The Cotton Markets.
AUGUSTA Feb. 4-The market has been quite
active to-day and we heard of about 800 bales sold
The principal sales were at 10f to l03 and some fine
lots sold at l05 cents.
CHARLESTON, Feb 4.-There is animated de- |
mand to-day with sales of 100 bales st 81 to lie.