Nashville union and American. [volume] (Nashville, Tenn.) 1853-1862, 1860-12-08
COMMERCIAL.



FR1DAT EVENING, Dec. Z, 1860.
Tie extraozanary crisis through which passing
fctng portion Of the country every department
business It has been, nspy, severe crisis
that has been sustained since the birth Of the nation
fore we have had commercial arng rcm abuse Of the
laws Of trade but midst induced By
eent, and the SPACIOUS unable to suggest
remedy to predict the result evidence the severity
of the crisis may the condition ngs in New Orleans
In its Money nrce Of evening the 3D. the New Orleans
DsG says Ihs has been the gloomy day OF the season.
several large houses had protest whose responsibility was
therefore, entirely unque.ored The demand for Money was M
soiuey Incredible and undoubed standing were in some
cases unable to effect cali loan hundred dollars
Preparations for meeting obligations snd have en-
grod the attention Of the whole community and those
who found it impossible to bridge deemed
to suspend operations day. The rates offered for Money even
at short dates in really fabulous and
clearly illustrated the sacredness mercantile honor ia the
Crescent City At Bank there noticeable departure from
the lin. policy which been heretofore pursued and bevopd
partial renewals Of maturing Discounts looked for even
temporary relief in that direction" This is indeed gloomy
picture and private advces CONFIRM truthfuuess At points
where the Banks suspended specie payments ana are pursu
ing liberal policy in thu cOun.ing commercial paper lhs
crisis has been materially mgad it and will not
be removed until the Disturbing and confidence
is again restored
We grahed in being able Enthusiastically that tie
rumor yesterday to which REFERRED Of our most en-
that gentleman injustice We assured by reliable parties
that he has not been affected By the crisis.
In New York on the 3d. at the second board Tennessee
spercen Bonds sold at 76c and 1900 76c and on the
;he following tales reported At the first board $4,000
at 76c $1,000 at 76 at &c. and at the second board
$4,000 at &c. and $1,000 at 751zc
The telegraph reports sales OF Tennessee New York
ysIsriay at the first board the second board at
Tie This slower than Bends have the crash Of
1887, when they went down low as Csc
On the Sd, Virginia Berds sold sO9sOe and Msous at
7o97Oxc. Yesterday virginas 7Gc and Msours at
66965xs
The st. Louis R6zica reports the sale on the s Of shares
Of Bank Of the State Of Missouri lOk and 10 sbares
Merchants Bank OF ST. Louis stock at IoI
The Mechanics and Union Banks of LOUIS have reduced
their rate FOR Exchange on New York to per to their eru
lar customers The other Banks Bankers charge a5 DER
cent.
The Savannah Republican Of evening OF the 4th savs
The money market undergoing rapid changes Sterling sold
at 10. and subsequently, lob refused for BILL Domestic
unsettled sales made early the morning a. er cent
premium in large amounts and We hear that before the close OF
business ~ per premium paid but 10 what ot
We did not learn These are probably extreme The Bank
rate nomnaly At cent premium, but they suppv
checks customers reported on the Bsv tst beS %
advance the rate to per cent tomorrow.
The Charleston Courier OF the 5h contains the foowng ar
tiele in regard to South Carolina Money:
Rumors very current in other States to the nr.iua
notes Of the Banks in this Stae our banker. ana bnsn
men are in daily receipt OF letters asking information
vAlueess. - 1'S
To all the holders OF the Of our Banks we would v that
they need have DO fears whatever in receiving passing in
keeping Bank notes. The our In
spec to the suspension OF Banks simply 10 remit that
penalty due to the State BY Bank Of s1spenson and
Goss not IN Gsg oay operate to lessen tie security Of TIE 0s
hotder No Bank in the United States are better secured
taan those South Carolina. They based upoa pub
only be realized at heavy sacrifice which the koIs ns
bear but by article in the charter Bank in this STATE
TIE aocthoders arc liable ia the of tie HIiure OF ne
BGH6 70 pay to rs nSteOderS and other creditors an
amount equal TO t1Cics tie stock Ned 6t1s
respectively As Of Banks monopoes but owned
many shareholders, it probable that nearly quite
the whoe amount thus pledged for their security be real
Eed oy TIE creditors OF the Banks II much
ry to satisfy their demands.
Cur Banks entirely solvent their being largely
IN excess OF their liabilities TO the public Of
management and responsibility, point with pride 10 tho
TACT that no Bank legally organized in this State failed
sna MADE a loss TO III creditors and stockholders
Our position, politically many hsders Of our
BANK notes cause OF alarm. In reference
that in going out Of the Union South contendng
high position where she shall respect OF the
Horld but esDecay Of sister States Of
then no fear that we shall arnh fair
pudiAtion, either Sc . State orirdiydually.
Confidence all that is needed restore eur Rank note
to its former state Of efficiency home We have that
ull confidence Let those Of friends limits
that they will suffer ne loIs. IT |
The Augusta ConsttRiOHaSt Of the 9th quotes Augusta
Athens and Savannah Bank notes par notes Of the
Bank Of Columbus; Bank Of Fulton Atlanta Bank Of the
Empire State at ROme Bank Of Middle Georgia. Macon and
Northwestern Bank at Rngsold at per discount cur
rency. The Constitutionalist says:
Our Banks sell Sight Exchange New Per cent pref
MUM, fer currency. |
The of the South Carolina banks are taken at some Of
The banks In this city. |
The following the comparative statement condition Of
Ranx fbaN ifvo !