Nashville union and American. [volume] (Nashville, Tenn.) 1853-1862, 1858-08-07


We are gratfed to learn from friend at Athens that the
Branch Of the Bank Of Tennessee that place. has been for
soedays paying specie for all demands againt The Branch
as olarkse and shelbyve have been doing the same
thing for the last eight ten days and learn that the other
Branches win probably follow suit Tho principal Bank
though state Of suspension, has understand never re-
fused to redeem any Of the notes payable at Nashville though
believe very nconsidsable portion Of its currency been
made payable here This moving in the right direction and
win afford Us great satisfaction to announce that the Bank
Tennessee formally resumed specie payments upon all its
notes whether payable here any Of Branches. This
what the people demand, and such stepor which are
persuaded the Bank fully prepared-oud go further
placing upon reliable basis than any other step
could be TAKEN 1t Would force every other Bank in the
State the thing, 60 down. and thus withdraw from
circulation everything that is not reliable
If satisfactory arrangement could by three
old Banks in this city for settlement of the balances
Branch notesas satisfied might beEe feel the
pressure in money market would be in great
eTed We trust Efforts will be spared by the officers OF
those Banks in coming fair equitable The bust
ness community has been already haassed by the msun
Outstanding said to exist among them the fair and proper
mode Of adjusting balances arising from the reception of their
Branch notes in this city. The community demand
and have right expect that be adjusted be-
tween the Banks that their interests VIII be protected as we'll
those Of the Banks.
The Knoxville Citizen learns that the cambridge Bank
firing much of its circulation, intending reduce to $4,000
We somewhat disappointed at seeing the Knoxville Citizen
attempt to justify Mr. CEAa the Cashier Of the Citizens Bank
Knoxville in constituting preferred class among the credit
Of that Bank Wepreume shallow apology would
have set any of Knoxville who had acted
a similar manner.
The Memphis A1azaac1e says of the Citizens Bank
The Committee having failed in their report enlighten the
hill holders as to their prospects for payment is the duty
Of Mr. D. 3. TURNER and Mr.. s. P. to forward
and give their statement Of the reason OF the failure Of the Cit
ns Blnk-and their opinion Of the value Of the assets
whether it is their intention to protect the bill holders and cred
it0rs Of the Bank from loss.
They studiousy avoided public expression Of their
intentions, and unless they give satisfaction
public shall deem duty give such
to knowledge, which may reflect seriously upon the
character Of our bankers than anything that has yet been
promise that you shall have fair showing
The Appeqz says the Of the Citizens Bank are selling at
thirty five cents.
Augusta Observation-Disclosures
CoTToN-The sales the past have been quite limited
owing the light stocks advanced stage the and the
light enquiry. Prices have receded about z from the high
To-day there was fair enquiry and s4s bales were sold as
follows; 2sat ll a at lli Al l2 81 at lai 81
CRoP-Te planters in all sections in this region complain Of
the drought and hot weather. and unless there heavy rains
within ten days. serious injury viii result to the cotton crop
CoEN-This commodity IS receding in price, Sales
made to-day 62, buhel, sacks included
kepce is from % to 20 cents From wagons and delivered
we noticed sales to-day at5' and GO cents
WHEAT.-There is enquiry for Wheat but the Offering
stocks light, and few shippers to purchase small lots
quote for good to choice Red Sc to 81 O and for White
81 10 s 20
BAcoE-Cear sides are quoted from 1917 to II cents and
ribbed from 10 IOl4 Shoulders = cents Prices
for Bacon Irregular and parties selling Sides,
understand, prices below the quotations give.
FLOUR.-There still good demand this
not 81 fsk as We reported last week Ir continue o1+
and the grades have advanced still further the week
There Tennessee Flour the market not yet taken
being held FOR higher prices quote Tennessee Family
in bags IS 50 to s. IS; Extra IS 90 IS l25l Superfne
81 s. so s. 90.