Nashville union and American. [volume] (Nashville, Tenn.) 1853-1862, 1860-11-24
COMMERCIAL.


Notwithstanding the stringent provisions Bank Code
under which the Stock Backs doing business in regard to
suspension Of specie payments very large majority Of those with
whom we converted yesterday decidedly in
mediate suspension by only measure relic
which can be afforded the community indeed, almost
every man We net with in faver The
tended that public opinion would step the rar
Of our Banks and demand the Legislature penalty
At an early hour yesterday morning generally known
the streets that private dispatch bad been received by eadns
business house in the city, communicating intelligence Tat
the Presidents of the Philadelphia had had meeting
Thursday and determined suspend specie payments yesterday
morning That intelligence greatly strengthened the feeling
favor of suspension the part our Bans and later in the
day the intelligence that the Baltimore discounted
nearly million of dolar as conatory of the
position that suspension would put in position to
relieve the business community The subject was freely
canvassed in business circles and while admitted that the
Banks could not with due regard their safety extend
their line Of discounts under The pesen circumstances was
clear to acquainted with the Of the country
that there shape crops upon which our
business men could fall back for relief that they can ee.t
nothing from this until the Wheat crop
| into market.
Cur Banks haVebeen doing almost literally n0tngn the way
Of discountns paper for months contrary they
have been steadily contracting their line Of ca1s still
continue to do unless suspension take place. In tie
event Of suspension, they would be able line Of
discounts Immediately, the Baltimore done ard
further be able to specie payments soon the panic
shall have passed away.
These the views expressed numbers Of GU
business and others The officers have listened re
speetfully to the arguments have been addressed to them in
favor of susPenOn they have steadily refused to
give any encouragement that they will assume 50 heavy son
sby If general Suspension should occur as now seems in
evtable it would certainly be matter OF policy on the part Of
our Banks to adopt similar and public opinion
sustain them As before stated, however, many in
elgent business still contend ough. to as
the in
pending specie payments afford the which the
business community needs, and which they would r
tend as they would thus their strength for resumption
in placid times
We learn from very intelligent gentleman who has recently
visited various portions Of Middle and West Tennessee the
people he unanimously in favor Of the Banks Of
this State suspending
We stated yesterday that TIE discount Money 10
cent Thursday On inquiry yesterday morning learned
that Of the Brokers had continued receive this currency
at cent usual Our emsrks preacated upon ia
formation given by gentleman who in the Of his
business had $50 Of 0coee Money during the
day. feeling satisfied that currency inquired Of
the Banker with whom he docs business who informed him that
discount per Our normantook ocoee Money
at 10 per discount and sold at the We have
been oware that ocoee Money looked uron with
distru by many informed men, some of
whom refused to take It in ordinary transactions
Yesterday Brokers taking OcOse Money 5O per
cent discount
The excitement in regard to uncuen Money continues in
crease and yesterday very few Of Brokers purchase
any price The rates North and South Carolina, Gerga
Alabama SOLO cent Missouri 10, Virginia Kentucky
Ohio and Indiana p Louisiana There Is 10 demand for
Illinois at any prize.
the Virginia Banks selling Per cent lis
Cincinnati onhursday North Carolina
Georgia. Alabama and Tennessee 90 pr discount The
Money these States in Louisville Thursday
was 1905, except Tennessee, which taken par.
nearly f7OO the bulk Of which 100 very
names, with 0H999i. There transaction
as lev as 90. %
dispatch Boston, dated the afternoon Of 22i says
No serious have yet financial pressure
remAnees from the hottest parts Of the South continue
far this city is concerned, untrue Should the
emergency require the Directors OF all the Boston Banks pro-
pose the Of Eve million dollars,
make money easy in this CITY,
In New York on the 2Oh $4,000 Tennessee per Bonds
sold 5000 75c the first board being an ad
vance of of previous day. The New YORK
E0sning Post OF tn. goth ssys
The stock market the announcement that the Bank Pres
idenIs had fixed upon plan for alternating the distress
change, took strong upward turn, and prices Of the share
went or cent but at the close there less buoJancy at
reduction 9l per from the highest points toucbei
The improvement Of the Bond s is married.
Stocks Missours returned to 69 the price CT Saturday last
advanced per cent Vgnas 3 PER cent North
Carolina u bid with offering.
pom Elves Of 1874 sold 95 Skies OF 1862 are offered
The Pives Of 1865 "a bid, IS asked.
Railroad Bonds with few exceptions dull and heavy with
few buyers
Money call is accessible though per cent still
hered to- and this en- first class cOllaterals.
The paper remains very stringent
symptoms Of returning There little currency for
10 heavy discount The class uames -
and Is cent and ct heseres only exceptional transactions
take place.
The York Tribune gives the following comparative state
ment of the condition this city York at
several periods: