Daily Nashville patriot. [volume] (Nashville, Tenn.) 1860-1862, 1861-08-21
The New York Tribune, in its commercial article Oh

The New York Tribune, In its commercial article on
the sale of Stocks, says
At the close of the First Board the tendency of the
market seemed higher prices but between the
sessions the changed, aud at the Second Board
heavy feeling prevailed, and quotations marked
down considerably. The only exceptions were in
Government and State Stocks. The Coupons of 1881
sold at Ss1I, and was in good demand. There was
considerable hammerng by the bears, and but little
resistance the part of the bulls No particular rea-
is assigned for the decline although doubts
thrown upon the negotiations of the Government dur
ing the day, and these possibly had influence
against the market There were also some unfavora-
BILE circulated in regard the intentions
England in reference to the war with the South II
was stated that upon the receipt of the advces
first battle of Bull Run the British Minister resolved
TO acknowledge the Southern Confederacy. As the
of that battle arrived in London the same day
the Persia sailed, the Ministry must have acted with
great promptness If the rnmor be true. After the
Board prices were shade better, but there not
much activity.
In regard to the Government Loan, the Tribune
says:
The most gigantic monetary arrangement ever con-
cluded in this country to-day by the
Banks Of this and the neighborng cities with the
rotary of the Treasury, involving the amount of
$3.50 900 00O and giving the Government the
carrying on the war against the rebellion up to the
meeting of Congress. On the 18th instant, the Score
tary will have placed TO his credit by the Banks (par-
ties to this arrangement $50 900 000 which, it is
derstood, he will draw against at average of
million per day. The sxtyday Treasury notes and
all overdone notes available in payment of drafts
under this arrangement The right issue demand
notes. although objected to by many Bank officers
abandoned by the Secretary, but it is understood
that he will not resort to it excepting in ofurgent
necessity. On the final vote thirty three Banks
represented and the response unanimous. The
Philadelphia Banks were represented by Messrs Mer-
Ger and Patterson; and Boston Banks by Mr.. william
Gray. The division of the first fifty millions is thirty
millions to New York, fifteen millions 10 Boston, and
five millions to Philadelphia The combined banks
hold over sixty millions of specie Committee was
appointed wait upon the Banks which not re-
presented the meeting, and obtain their adherence
to the arrangement Our Banks have thus taken a
very grave responsibility upon themselves, the end of
which can foretell, but they have done it
der the strongest impulse of Patriotism, and in the full
conviction that the truest and only policy of our
monied institutions and capitalists consists support
ing the Government with the last dollar their pos
session, for that if the Government goes down what
is LETT of the wreck will not be worth salvage. The
thanks of the country due to the noble men who
have taken this patriotic stand to-day for the act
cures the final triumph of the Government.