Nashville union and American. [volume] (Nashville, Tenn.) 1853-1862, 1860-11-29
COMMERCIAL.


I WA14GNDAl
The currents in financial and business have nowi
rather smoothly to-day The old Banks checking freely
New York at per cent premium for bankabe funds,
thus aoing great relief the business Community We have
learned Also ncdenty that they dcounting quite literally
Business seemed cheerful to-day than for consider
able time, in anticipation of easier Money ard
early revival Of the ade which has quite dormant durrq
the whole fall
At the regular monthly meeting Of the Memphis Chamber Of
Commerce. the evening 9Sh the following among 9th
resolutions adopted:
ResolUed That in the opinion Of The Of the Mem
phs Chamber Of Commerce. the which surround
mpeativey demand suspension Of the payments OF spe.
Gle by the Banks Of this State that in complying with the
commemorate SPIRIT wise policy protecting interests
Of the mercantile and planting community and placed them.
the large Of cotton produce
which has accumulated in cur midst
In New York the e4h Tennessee per Bonds
sold at se North Carolinas sold at 6595e Vgnas SIc
MssOur 7l97Qc On 18th Bonds sold at 74c
showing an appreciation Of &c in i've days
The New York Eosaiag Post of the Gath says:
The stock market has again taken strong upward stride
tOday market IS equal in to aud per cent
The dealings marked by considerable excitement the Bears
appearing large buyers and offer little reiiatanceto the
The money market is gradually settling downs but rates
side Of banks are quite steady and IL per cest stu the m
mum for prime paper Exceptional transactions take place
9l0 per cent On cali there good demand at
The foreign Exchange market presents no features Draw
and sizes IS on Paris.
We hear Of change to-day in uncuErent Money large
number of merchants and business taking the
Of the City Bank par Our statement Of the amount and
description Of the securities deposited by the City Bank with
the Comptroller protect its sues QUOTED the minds Of those
who had fears the and who had City Bank
Money it was still worth 1OOc to the dollar.
The Augusta ConsTOaGlist the Banks of that city
advanced the Sight Exchange New York to per
premium on the Goth At st. Louis Exchange quoted at
1904, Chicago 597 Cincinnati :. and Louisville lH92
The statement City Banks for the
lag s reported by telegraph shows decrease OF
Of s752O decrease Specie sO5s7 decrease in cireula
tOn s2g7s75 decrease in deposits. s2,ls364 The expan'
sion did not go into fall effect until Friday, the 2Si,
quenty the above statement is deceptive the amount Of loans
on Saturday being millions in excess Of average.
According the New York Banks had in their
vaults specie. The heavy decrease in deposits
explained by The arrangement recently entered into by the
certificates which issued to deposOrs in lieu
Of their metal.
The statement Philadelphia Banks for the week ending
of $500 decrease In SPECIE s7O
in circulation s17OOO decrease in deposits
ST33,OO0 Total specie in banks, s3,344,OOO
TIE banks in ST. Louis had circulation the 24tt
IF $50 SSH 65 specie. They have also s4s9s2
,f maturing Exchange.
The New Courier and Enquirer says the Of the
New York Banks in expanding their loans has prevented in that
y the disasters Of 1857 that this expansion saved week Of
aures finally by suspension BY the Banks
The question whether New York has yet it, most pinch
ng point, is discussed with interest Confidence
PRESSED there the effect Of foreign exchanges
he benefit of influx Of gold that has been ordered
er which for gold very quickly followed BY the
Information Of the troubles which have since growing in
domestic exchanges and though the orders themselves
aculaed touch the sensitive Of the English Money
Market the succession Of bad following them
lace English gold that will forbid ezpoftaion New
then feel the force OF that reaction Ere
lrng point and steady progress be making towards
ion OF credit and confidence.
The Cincinnati Gazette It's Money article evening
ne 18th, says.
The decided indications reaction Money we're
bserTabs day We Friday Saturday some weak
gins recovery but they barely ds.in-
uishabe Now however, marked improvement is
there is prospect that the will soon be removed
the way Of discounts there Jet very little doing,
not expected that in any event. there can be regular
arket for paper days come, but with continuance Of
feeling that manifested to-day, the OF trade will
ION get into satisfactory shape The adEices from New York
again fsEorabe and the impression is general shat
inks viii go through, aud the panic ubde 1t is this feel
Is tat coIndsnce mere III the movement OF the
York and Boston banks shah prove successful giving
ability 70 business the opinion is that The and
fillmore banks viii be able to resume within short time their
enson having been an act Of precautOn rather than the
qaence Of weakness.
Our bankers report very demand for oan but
lis is owing to the fact that applications made in OF
new engagements Payments at bank continue made
TN extraordinary promptnes the circumstances considered
Id no failures are reported.
The Louisville Courier its Money article OF the evening of
e 9th, says:
There change note in the Money Market and
ntinue to along in the stringent channel. The
oderate, banks only dseOuntng for those who
special claims upon them and then they discounted but
ringenty, and to good Of class paper
refused We would remark here that New York Is looked
all Sides the turning point for financial affairs and as
matters reported with good cheerful
hopeful feeling maintained here The question whether
lie banks Of that city will suspend discussed great deal
interest here The banks here yesterday
i'll suspend unless the New YORK New Orleans banks
rst set the example by doing. l.