Nashville union and American. [volume] (Nashville, Tenn.) 1853-1862, 1858-04-04
COMMERCIAL.
HTonefnrT ana eommerctaI-


The st. Louis Democrat Of the S0th ult., learns
that New York capitalists, within the last day ortwO
have been Offering large sums Of money to several
of their prominent business cihzens at per cent
tsrsst though that paper has not learned that any
negotiations had been concluded. Money is worth
more than per cent in St. Louis and twas thought
these capitalists would find no difculiyin relieving
themselves of a small portion of the plethora which
seems to afHict the banks and capitalists Of New
York.
Sight exchange on New York is quoted as ist at
per cent premium at St. Louis, for MissOurfs
paper, and very few bills drawing
The St. Louis Republican says: " The approach
to a resumption Of specie payments is now pretty
evident There has been recent conference, as
has been stated among the Banks in relation to this
measure but it seems to be understood by them
that it will not be delayed beyond the spring months
and probably not beyond the beginning of May. The
objects proposed by the suspension will by that time
have been accomplished; nor is it probable that
there will be, at that time, any such demand for
coin as will necessitsts steps the part Of the
Banks which will inconvenience their debtors and
customers"
The Augusta CGa.) Banks are checking on New
York, at sight, at per cent premium.
The legislature Of Minnesota has passed an act
authorizing the Governor and Treasurer of the State
of Minnesota to borrow, within six months from the
18th instant, S25O,OOO, at a rate of interest not
exceeding ten per cent. The bonds are to be signed
by the Treasurer and countersigned BY the Secretary
of State; the principle sum Of each bond to be not
less than $780, The act provides that the State
shall levy tax to pay the interest and also annual
ly tax of S27,777 n, payable into sinking fund
for the redemption of the principal
New York holds about One.third Of the whole
banking capital Of the country (Sl06, 100000 out
of $3.50, 900, OOO) and controls the financial move
ments Of the whole country. The bank capital of
the State Of New York in 184S was fOrty-three mil
lion it now exceeds one hundred million. In the
city Of New York. in June, 1s4s there were twenty
five banks, with q capital of thirty-four million.
Twenty-seven out Of the ffty-one banks now in
thai city have a capital Of ffty-fve miliOn-an
eyerage of over two million to esoh bank.
In the case of the City Bank Of Sand usky Us John
B. WilbOr, Treasurer the Supreme Court of Ohio
has decided that Banks and Bank Stocks are sub
ieet to taxation the same as other property This
reverses the decision of the Supreme Court of the
United States made some time since, and as the
matter now stands all the Banks in the State are
taxable the same as other property.
There are several bills before the Pennsylvania
legislature to charter new banks but the committee
to which they were referred has reported against
their passage. On this the Ledger remarks:
This is all very well, and is as We expected. No
more banks are now wanted, and nobody having
- If
establishing one. Those persons who are pressing
applicsLions for banks are, in the main, men who
want money from banks-having none Of their own
to lend.
The Cincinnati Price Current of the 8Ist ult, says:
With the approach Of the 4th Of April, there has
been an increased demand for money, fOr several
days, business men making arrangements IN sd-
vance for their April payments, and the market
Monday and yesterday, was generally stringent.
The supply Of currency has rather diminished than
increased the banks in the interior, owing to the
heavy calls made upon them for coin, being disposed
to contract rather than expand in the item Of cireu
laton The regular houses continue to discount for
their regular customers at 10al2 per cent, and but
little first class paper offered in this way srefused;
but second class names, 60 with more difficulty, and
street brokers are pretty well supplied, with what is
generally regarded good paper, which is obtainable
rates of interest varying from 10 TO "A per cent
The market for Eastern Exchange was very dull
yesterday, ana although prices were nVHinaAly
changed, the business chiefly transacted at in
side figures, say prem. buying, and prem. selling
for New York, Boston and Philadelphia; and prem.
buying, and prem. selling for Baltimore. 1t re-
quires considerable effort to sustain the market;
and if the law of supply and demand had its way,
bankers checks on New York would be selling at
prem. New Orleans was also dull at par buying,
and "a : prem. selling.
In regard to the growing wheat crop and the
stocks Of corn and wheat in the hands of farmers,
the Ointiunati Price Current Of the 3st ut, has the
following paragraphs:
In collecting our statistics Of Pork packing we
have been furnished incidentally, with information
from all sections of the Western States, regarding
the extent and present prospects Of the growing
Wheat crop. The quantity Of land soWn with Wheat
in the fall, was larger than the previous year, the
weather during September being especially favorable
for it. At the confinement Of winter, the growth
was more forward than for many years; the winter
has been quite favorable in all the States, and the
prospect Of an abundant crop, was never more ia
vorable, at the close Of the month Of March Many
express the fear however, that the plants too
thick on the ground and that, with favorable grow
ing weather during April and May the growth will
be too rapid, producing weak plant, and inducing
rust or lodging" Ii seems to be generally con-
ceeded that the crop is past the dangers Of winter
and that it will do well until about the first of June
when the next crisis Of the crop comes.
The information we have received from our CORES
pondents in this and the adjoining States, the last
three or four weeks leaves doubt whatever that
the stocks Of Wheat and Corn in the hands Of far
mers are enormous. The prices current for Wheat !
last October was 80 far below the estimate set upon
it by its owners, that they refused to sell, pre-
ferring to hold it until spring for better prices;
but in this they will be, it is now pretty certain
sadly disappointed. The Wheat is still in their |
hands, but whether they will part with it at present
rates,-4Oa6Oc q bushel is exceedingly doubtful.
Many Of our correspondents say that notWith-
standing the large amount Of Corn damaged last
winter partly by being frozen before it was ripe as
pretty generally the case, in the northern Sec
tiOns Of the Western States; and partly by
being put in crib before it dry there will be as
much sound Corn in the country on the first of next
June, as ever there was in any previous year, the
sound having been carefully preserved whilst the
damaged has been fed to Hogs and stock Of all
kinds, with q lavish hand The intense anxiety to |
procure old Corn for seed, which existed last De.
Cember has all subsidized.
Two men named Bennett and Courier we're ar
rested at Louisville on Saturday night for passing
ten dollar counterfeit bills of the State Bank of
Ohio. The Journals says of these bills:
We have seen two Of the bills They are new and
it requires good judge to distinguish them from
the genuine. The vignettes appear to be from q
genuine plate. They made payable at the Preble
County Branch, Eaton, marked letter B, and dated
1857.
The State Bank of Ohio is having new plates pre-
pared from which it is the intention we understand
to replace the issues Of that bank now in orculs-
ion.
We are indebted to F. HAGAN for Whites Counter
felt DstsetOr for April from which we copy the fol-
lowing:
So many men have been arrested and held to bail |
recently for passing and attempting to put into cir
culation raised and otherwise altered notes Of the
State Bank Of Ohio and Southern Bank of Kentucky,
that the public mind is than ordinarily alarm
ed and excited. For the further protection Of our
readers publish this slip with descriptions Of the
genuine and counterfeit pointing out the differences
so clearly and distinctly that be deoeived
Genuine g One The State Bank of Ohio has three
or four plates Of ones, but the so dangerously
altered to ten, has for its vignette standing
and another sitting, with q shield between them;
portrait Of man on left end and female figure stand
ing, with wings, on right end.
Raised and Altered "oHs."-The difference con-
ssts il the eraser of the denominsonal letters and
figures by chemical process, and printing the
higher denomination The female figure on the right
.1-,,a aofI