Nashville union and American. [volume] (Nashville, Tenn.) 1853-1862, 1860-11-28

Bank Of Knoxville the City Nashville were,
BY an act OF til last legislature united under the
latter which vested With the rights and charged with
liabilities Of both Banks. We understand the present
standing circulation the Knoxville amounts to only
about $4,000 which included in the present circulation s7
OO0l OF the City Bank.
The Bank of Memphis was act Of the lat Legislature
united with the Bank Of Chattanooga and Of the lat
ter established in Memphis former which redsems
its circulation
The Free Banks gone into voluntary liquidation
have three froA the time notifying Comptroller
OF going into liquidation for closing their banking
1t has been understood and praccsd upon Banks
process Of voluntary liquidation required quar-
erly statements Comptroller This think an error
at least have been able, in hasy examination
laws to fad thing exempng them from the operations
sections 1924 1926 1896 and 1877 Of the Code Of Tennessee
All the Banks Memphis except Branch Of the Bank Of
Tennessee suspended specie payments yeIeday
stand the Cashier Of the Branch Of the
egaphed to the parent Bank here that he suspend
and learn further that he is perfectly able every
demand against his Branch but any
relief to the business Of Memphis 1t supposed
ever that he will reconsider his determination IL
ready done
We understand the old Banks suspended yesterday,
have already Of extending relief to the
business community, in the OF extending
ishing Exchange New YORK. We have unable for
day furnish reliable quotations fer New York Er
change, owing the condition Of financial affairs We
learn that the rate charged by the Banks day
premium.
The suspension OF specie payments by has,
as have been able to learn, with very general approval
With the virtual suspension of the New York Ranksr
issuing Of scrip 10 only another for Suspenson-he Phil
adephia, Pitsburg Baltimore Richmond Banks to be
followed probably by nearly North and South,
our Banks must eventually suspend. 1t simply,
opinion Of best informed fnaneiers, question OF time
only and in this view, they have certainly acted wisely by stop
ping and reseryng their strength for early resumption.
They are in condition to aid the people, and graft
flying that they have already work We have
never known suspension Of specie payments which
with it so nearly the approval Of entire community
The in New York is much greater papers
represent letter dated the evening Of the 22d says:
pha Banks the Banks Of Baltimore Richmond and Charleston
in great neurazes the strenuous nay heroic eAer
heads above water Those eertons it is believed will be
cessfu for day two the whole drift Of things goes to
show that the New York Banks will have go with
ust as they went down with the crowd ia the Of
1851 The tenor OF the private dispatches from Boston
but little that the New England will be
able to weather the Storm and there is scarcely
when they CO. Wall have follow. The New York
Banks have resolved stand by each other long they
but everybody is asking how long, how long?
The in New Orleans is Representative unusually
the Banks having curised their during
ending the Gath over s3OOOOO and the PcayWe says the
community stand this curaiment any longer
breaking"
We have Improvement report Money and
quotations continue wholly nominal pons
there buyers One Of Strongest energetic
Bankers informed to-day that he negotiating South
Bankers and successful in Lis Efforts would in few
days be able to purchase Southern Moneya smaller
discount than our quotations indicate.
Tennessee Money is quoted in LouiGTe At 500 per cent
discount.