Nashville union and American. [volume] (Nashville, Tenn.) 1853-1862, 1858-12-02


In many inquiries in regard to State indebtedness
give summary OF the securities Of the State Of Tennessee
The regular per coupon bonds Of Tennessee, the
from date all due 1850 la ~. They
s609O0 and loan upon 6o4 miles finished railway within
first only mortgage hen the extent Of $1,000 per mile
The primary obligation pay the interest upon the Companies
but the State has made her dy the interest with
pronpe at the Merchants Bank in New York, July aud
January The Bank Of Tennessee is the fsl agent fer this
purpose and to collect in the interest from the Railways
3 The State has endorsed certain other railways finished
hs and only mortgage lien upon within the State.
3 Tie State, enable the city Of Memphis aid the Little
-vTo,1I s ID 1-os ~ siorea $50 000 Ter cent 81,
bonds due in 1885 The bonds constitute also lien the
T cspStoi In he Bank Of TsnDeee due IN Is6s In
so per for the erection Of the capitol and the
purchase Of the Hermitage estate In $4,000 five cents for
capital in Union Bank Tennessee in 1863 And 50 600
Ave and FIVE quarter per in aid OF the old internal i'm
prOyements Of s3s "a, due twenty years from date.
Recgpitalat5Oa Of TsRnejsee Debt.
L Six per cent OF State to Railroads, s6,O49OOO
3 Endorsed per cents OF Railroads, 1900 600
3 Endorsed per cents Of Memphis, $4,000
For Bank capital selEsuppor.ing, LBS 600
Internal improvements, &c, 2s4O GOO
Total OF all obligations, sIa664OOo
The Railways within the State generally free Of
liens than the mortgage the State Five years after the
they bound contribute per cent year
Of the principal by of Sinking Fund or remainder of
this fund, the Comptroller writes, Oct /, 1858:
cit not be improper that the year just closed is
the first one Of operation, under the act Of 1856, creating
ing fund for ultimate redemption Of the bonds loaped to-
endorsed for railroad companies The act requires per
per tie bonds loaned by State to be
paid into The Treasury after Eve from their
dorsemen sinking fund with which the Governor Comp
troe and President Of the Bank Of Tennessee Commissioners
shall purchase the said bonds and renves the acrung in
like securities All the railroads from which the per centum
vested "A State and endorsed bonds for $1,000 each.
promtness in the Pnnng during season Of embarrassment
when the roads unfinished
Increasing fund that will if adhered to- ultimately redeem ali
the before
Whatever may hayen thought the policy undertaking.
once, grand system internal improvements in Tennes
operation in progress can be DO doubt
the wisdom Of hismeasure Itrequs the to pay
States for them as viii not embarass them but finally extip
guh the whole of it before it becomes due, leaving State
trayersng every important section Of her territory paid and
with tax upon the wealth OF industry o. citizens
tain them A."
The Cincinnati Gazette Of the Goth ult. says:
There continued active Money Saturday
with still further diminuton in the supply Of currency The
market yet however, be called stringent the tendency
decidedly in that direction, and the indications that neo
atoms will be difficult during the have up
large amount Of currency differentiation, however, which will
set matters right it be returned to he channels Of
leading now for the
first time within the last excellent field in the West for
the issues Of Eastern Banks Western institutions fully
banded in this respect Most Of them up pre-
sci by their charters they have within
the last few days been compelled to COIN This exaOr
binary feature, but favorable It is showing
does heavy movement Of poduee to Market and extensive
distribution OF funds among the farming classes The eountry
bank balances in this city have been drawn down Closely
the demand
currency, Bank returned redemption,
reason that the supply Of Exchange from other
OF the demand and city bankers have fully much offered
theircOunters they able manage paF9k
count Gold is drug. Dealers would DE glad exchange
currency at 10 premium, while they purchase il
reluctantly at This activity in the
the result Of initiation the previous the
Of 1917 There bubbles aOa unless it shall
the trade building extensively upon crop
nat0nsi but however this be- the farmers dispOsng
their hogs the most favorable termh and high prices
There is credit asked obtained Of producers year
whatever turn matters may take with Dealers generally will
largely benefited by the distribution the proceeds Of the
In of interest there change. The regular
charge lO2 cent combining operations regular
We find the following dispatch in the Louisville papers;
CINCINNATI Nov. 90 P M-Hogs rather dull light
prices the close nominal Sales 5000 head So d65g
for light and S657 for heavy. business
pork January February delivery ST. with
Of 600 bb Lard held at lie for future delivery,
lertooi thar some sales made at this rate
We the following Cotton report the Augusta Chronicle
and Sentinel
AUGUSTA Nov o. There active day, and tie
transactions this morning heavy advance Of g
Saturdays rate though with reguary prevailing.
We quote Strict Mdding Good Miidng e, Mddling
Eaa sc.
CHARLEsros Nov. 29sses of cotton 200 bales without
change in prices.
SAVANNAH, 2sales to-day $50 bales All
qualities advanced to &c. Good Middling II cents.
The first considerable lot Of crop sugar. amounting 100
lhds New and found eager
buyers G9c The quality Of portion very choice.
The Post the arrival Of sample
uch excellent quality to resemble honey.