Nashville union and American. [volume] (Nashville, Tenn.) 1853-1862, 1858-07-10
U0 N ilftttIaI.


Yesterday the Union Bank threw tie sOf the Bank
Of Tennessee. The for action Is e that
prompted Planters Bank to saiar ourse cut
side source, leaned last night that Bank Of Tennessee
had to terms, and that to-day viii be eeeivedey
the Union Bank as usual.
leading banking -nstitstions-s great gunspFeSent
rather singular spectacle just The Planters and Union
Banks having resumed specie payments the former refuses
receive on deposit in payment Of debts, the notes Of
the Bank Of Tennessee because has resumed specie pay
and will not make such arrangement for the redemption
of its notes the Planters considers satisfactory
The Union Bank adopted similar course and the result known
Some arrangement has been into wa the Union BANK
by which its demands have The pbc will be curious
know Why the Bank Tennessee viii submit conditions to
maintain its credit at the Union Bank, while viii not do 50 at
the Planters Bank. institution which stand equally as high as
the Union Bank The unntase cannot understand these ma
and the result viii be nEre the landing Of Bank
that regarded perfectly solvent hop, for the credit OF
the State, We shall have Of this chid's2ay
few days since copied paragraph from the GAINESVILLE
JersOia, stating that of the missing bonds Of the x
change Bank Of Murfreboro mysrou turned up among
the bonds Of one of the other Free Banks After inquiry st the
Bank Of Tennessee, where the deposited stated that
bonds belonging to the Exchange hal been found IN the
box Of other Bank the story origin probably,
in the fact that bonds found boxbeongng to other
Banks,s with the endorsement W. j. sPEyCE upon them,
which those gentlemen hail doubt sold TO her Bankers To
this the Je9es0Nfaa Of the 9Th inst repliesa follows
ltcls sliteu from parsons Wuol We
gde as good authority, and who ought 10 know the act II
they facts. The Ul0Hs doe rot opinion
settle the question, unless the Bank box the bonds in
question were found show that they sold TO them by M
Spence Mr. Spence understand ans that the bonds in
question sold him. and they not, OF
they not properly in the box Of any other Bank,
w hive more interest in this any else
Our paragraph not intended the Bank OF
Tennessee other Bank. We published the facts they
reported Shoud prove
mistaken, hold ourselves ready all times the
correction. But considering the in which the state
ment and the persons through whom received it
bonds "hdd dOH5f sold the other Banks atsactO
Is there any show that these bonds ever sold by
the Mesr against what understand Spence
declaration that they s0d2 II there any such
proof and the question will be at If
Mr. Spence did those any one, can very
easily proved bonds issued originally him. and
endorsed him. negotiated in the deposited
with the Comptroller, security for his circulation, then the
! subject is one requiring investigation
We find the following paragraph in the Memphis appeal Of the
| eth inst.
eern that in some Of our nghborng towns the bills Of the
extent Justice the bank II proper that It is, and
during critical periods Of the crisis, pay
known 10 BE good in this State. This bank
selling exchange New York as low other in this
have distinction whatever between its bills and
Tennessee banks only attribute
rumor which gone abroad to its temporary pref
malicious who, Wantonnes,
Louisville They ought and wt however, lose all their power
mischief is known that the notes Of the Citizens Bank
deposit by all the banks in Memphis and by the
Union and Planters Nashville and in all the
transactions of the city precisely the footing
nessee money.
The notes Of the Citizens Bank taken deposit pay
ment Of debts by all Banks in this city, believe except
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