Nashville union and American. [volume] (Nashville, Tenn.) 1853-1862, 1858-04-18
OOMMERCIAL.
Monetary aad COmmerciaI,
Nh. ~ ~ E.. D.. u Il. in.A :.

mOustarY aud COmmerctRIs
The New York EeTning Post, Of the 10th says:
The week closes upon more striking exhibitions
Of an abundant ease in the money market and
keener competition on the part Of lenders than mas
been experienced during term Of years. The
banks have now become the strongest buyers in the
open market, aud % cent is now known as the
bank rate. The principal note brokers are COM
pletely cleaned out Of first elass-paper. single
named dry goods note, at per cent per snnum, is
now a common transaction. The call loans that
we're put ont st per cent are now reneEedin many
cases at Ter cent frstclass securities, but the
general rates are 5a6 per cent.
There has been ashade livelieT movementsin some
departments Of trade consequent upon an increased
demand for consumption, the resumption Of inland
navigation cheapening the work Of transportation.
This has enlarged the issue of business obligations
but the increase Of capital meeting il is in greater
proportion.
appearance Of the slightest disturbing local in
huenee but enabled the bull operators on the Stock
Exchange, % carry prices up ls2 per cent On near
ly all the leading fancies. The bears, however
evinoe much courage snd put out large lines. The
market at the close continued strong, and the clos
ing figures are since sustained The total par values
il viii be seem reach nearly Millions the largest
business for the past fortnight.
The New York Tribune Of the 18th says:
The individual deposits in Bank and the balances
in account With the Southern and Western Banks
arenearly aluuderstoOdo be rather the increase
The aggregate amount 4ndraWn the last state
ment was the largest known, in this city, being
$40 02 939, against S66 8S4 0S8 the same time last
year; aud the probability is the line viii exceed
eighty millions by midsummer. The tendency OF
this movement in the absence Of any considerable
export demand for specie, and the absence too, Of
any very large mercantile credits to settle on the
other side-as compared with former seasons-is,
Of course, 70 easier terms for money.
Our adVices from all parts of the country, and
peoially throughout Tennessee, are, thus far, ex-
ceedingly favorable to the spring crops. Vegeta-
ton is farther advanced thus usual. The wheat
crop has encountered no injury from the past win
ter. It is thiCkly set, aud very promising. There
are also cheerful indications of plentiful supply
of fruit The trees have, up to this time, es-
capped injury from the frost. It is rather early to
make certain calculations, but from all we can
learn, prospects of an abundant harvest are unu-
sually hopeful
The New Orleans Pieayuns, of the 10th inst,
states that the Cotton market in that city is firm,
and prices full AIiddling III to 1l3 especially for
clear white eOttons which are scarce and much
sought after the greater portion of the lists offer
stained Cotton, Of which there is this year unu-
sual proportion. The descriptions indicated, as
most in demand, are offered sparingly and very full
prices are claimed for them, and although the mar
ket presents great rmness, holders being strength
ened in their views by advises of extensive over
flows in the interior.
The British Board Of Trade Returns for the
month of February exhibit a steady contraction Of
the export trade. In January the falling off was
81, 836, sos, and it is now s2,024,624 This how
ever, which would at one period have been looked
upon as a very serious feature, can be regarded
without encouragement, OWningto the light thrown
by the recent crisis on the character Of our enor-
nous shipments during the last few years. Although
the total in the present return is only G7,288 416
against So 313, O4O in the corresponding month of
1857, it has, doubtless yielded greater profit The
reduction is general and is due to the lower range
of prices as we'll as to diminished qualities. Iron
shows the greatest falling off, but cotton, WOOllen,
silk, and linen manufactures are all largely on the
advanced side. Haberdashery, which includes
ready clothing and is great item in the Aus
tralian and general colonial trade likewise figures
again for considerable increase. With regard TO
imported commodities, there is no general sign of
diminutiOn in the consumption.
The steamer America brings the following intelli-
gence in regard to the Liverpool Cotton market:
Those from Liverpool generally agree in stating
that the cause of the further decline in Cotton was
the heavy receipts that had come to hand, coupled
with rather higher crop estimates from the United
States by the last steamer. The imports since the
sailing Of the Persia had reached 100, 900 bales
fhraa Ia in he
aggregate of 100000, the bulk of which was
from the United States In many instances these
imports were pressed for sale as soon as landed,
and the result could scarcely be otherwise than a
falling market. There had, nevertheless, been a
far better inquiry observable at the concession
in price, and the total sales Of the week footed
$4,000 bales, the bulk of which was taken by the
trade Spectators were more quiet than usual, be-
ieving that the lower figures would yet be submitted
to, when they would enter the market pur-
ohasers
As compared with the quotations advised per
Persia, those by the America are the same. After
the departure of the Persia, however, and previous
to the sailing of the Indian, an advance Of 593
was obtained, and it this advance that was LOST
between the departure Of the last named vessel and
the America.
The market st the close on Friday, the 26th ult.,
was heavy, and the days business was estimated at
not over 6 900 bales
bales, including 900 American, against total
Of $4,000 the previous Wesk-Of which 262, 900
were American.
The New Orleans PicayUHs, of 10th inst, says:
&c The Clearances for foreign ports at our custom
house, yesterday, were very large. The principal
items alone Wers % 684 bales Of Cotton, 435 hogs
heads of tobacco, and Is, 535 sacks Of grain"
New Orleans Mark ct, April 10.
SUGAR.-In our semi-Weekly report We noticed
good demand for all qualities and an advance of
/ cent in the Fully Fair and Choice grades, the
supply of these descriptions being comparatively
light The sales of the first three days of the week
summed up $500 hhds, a considerable portion, from
second hands, and leaving comparatively light
stock Since then, with increased receipts Of the
lower grades and less active demand the further
sales have been confined to about 1900 hhds making
total for the week of 5000 hhds; and we now quote
as follows, the rates for the lower qualities having
fallen off fully cent within the last day or two,
and Clarified and Refined very dull
Common to good cOmmon...............4fs52 |
Fair to fully fair. ....O4a7