Nashville union and American. [volume] (Nashville, Tenn.) 1853-1862, 1861-09-06
COMMERCIAL
Monetary and CommercIal.

THURSDAY EvExKa, Sept 5, 1861.
mere has been Considerable activity for some
uays past IN Groceries Dry Goods, and Brssdstuas
Aul tOVlsions on account Of Southern buyers. We
nO'leea packages being shipped yesterday for New
oefn, sc. Flour is firmly held at s50S5O for
oupsfnne and s5.7596OO for Extra. Wheat con-
unnsa N good demand both from millers and suecu-
i1'ors. We quote White at sO(as5e per busteI, Red
~ 'V(S'oe' and Mediterranean at 65(a7Oc.
bacon continues to advance in mice "a the ssoeI.
Feesaes. We row quote Shoulders a. Ice. Hams
l9c, and Clear Sides Zoe.
In Cincinnati on the ID inst FloB- "a, ,,,ossd az
S3,6O(9S Go for Superfne, So 75as q for Frtrs
and S39O94 % for Family and Farcv brsndz'
White Wheat was quoted at 7eSsOc per busbeL and
BED T0(97Sc. Bacon was quoted a. &c for sad.
ders, sc for HaEl5, and &c per ID for sides. AZ
| the same date last year Flour was quoted At $50
10 for superfne, s. 2O95 60 for Extra. and e. "a
| &C 90 for Family and Fancy. White Wheat was
i quoted tSl I591 20 and Red 81 O50I Os Bacon
was quoted at 9lc for Shoulders and 1l4c for Sides.
These figures show how the blockade has been
affecting the producers and dealers around and in
Cincinnati. This blockade is affecting the Northern
markets in variety Of ways, and with most dis
sstrous advance in the prices Of some Of the most
important and indispensable articles in trade. Tho
New York papers report the advance IN naval
stores as most extraordinary. Before the blockade
Spirits TurpeAtne sold at 500 40c it is now quoted
IN the New York market at 81 G5C9,I SIDE to 81 90
asked. Common Resin, which formerly sold at
about 81 5OS1 Copper barrel is quoted at IS. Crude
Turpentine, whieh had sold at s. TJG3 90, il BOW
sold at $40.
The following sales OF Tennessee Bends were
reported in New Yorl, on the 29th uIt: $1,000 az
424c, $4,000 at 4Sc and IS 600 at 4sF. and At the
first board on the 5O,h, SIS 600 at 4S4c $4,000 at
43Jc, and $4,000 at 45lc.
The following paragraphs from the commercial
column Of the New York Tribune, of the 3Oth uls.s
shows the utter prostration Of the Cotton manu-.
factories Of the North, growing out of LrSooIS's
war
we have observed less speculative inquiry for
goods than az any previous season Of buOyalcY for
the safes nave been made on cash basis, and the
Spectators have neglected the market: thus the
goods delivered will enter in most eases directly
into consumption, and not deFress the market in
the future. One year since our stock of domestic
goods were small, and the deliveries from the mills
only kept pace with the demand, notwithstsndipg
our whole trade was more or less paralyzed AZ Il
always has been during an excited Presidential
campaign. Since that time, from q Combination OF
causes, familiar to all, our home trade has grown
was the order Of the day. Meantime the mills re-
duced their production gradually until an almost
entire stOpPsge Of factories has resulted. The
business in this department during the last Il
months has been less than one-half Of that Of the
previous year This great reduction has been con
fined chiefly 20 the foreign fabrics and goods
adapted to the Southern markets, and only articles
Of prime necessity, which rigid economy could nat
obvlste have entered into consumption
The export trade, however, has seen little inter-
hstau fha Of
other departments, and has reduced the surplus
Whibh otherwise would have depressed the market
at this time. These facts show in degree why the
present stock Of Domestics is go small and Why,
with moderate demand, goods should advance so
steadily. The future production of Cotton goods
IS attendant with great hazards, and with this
advance we dc not expect any great increased pro-
ducuon Some manufacturers are sending the
staple from their mills to this market and realizing
greater profit than in its manufacture-others
will work up their stock, which is generally small
and close their mills until something is ascer-
ainsd with reference to the probability Of future
supply. If we are deprived Of the usual Cotton
supply, the staple may advance to SOC or SIC q ID
the English writers estimate whereas 4 free
supply, after twelve months, would reduce the
price to Less than Sc, for the crops would be the
market at the same time.
Cotton was quoted in New York on the 26sh ult.
at lSlSI8sc per ID, and on the "a inst at pc. As
soon as the present small stock Of Cotton in the
North is worked up, the only chance for manufac-
turers to obtain further supply is from Liver
pool.
The Planters throughout the SOHth are generally
keeping their Cotton at home, waiting the course
Of events. The receipts a. al the Southern Ports
up to this time do rot equal those Of New Orleans
to the same date last year by considerably more
than one-half.
The following circular has been Forwarded to
The patrons and correspondents Of the two Banks
IN Mobile. One of these Banks, says the New Or
leans Crescent (the Bank Of MObile), never moves
without due study and consideration, and the same
remark viii apply to the Southern Bank. The
Bank of Mobile has a great prestige, however,
squaled by only other Bank in the (former)
United States. 1t never suspended specie payments
n the memorable CONFUSION and revulsion Of 1887
o 1872. The Southern Bank dates its organization
ince that period:
On and after the 10th day of September next, the
Bank of Mobile and the Southern Bank of Alabama
will receive in payment of their discounted paper
he Treasury notes or = ct Bonds Of the COnfsde-
sted States at par, as we'll as their own notes.
On collection paper payment will be required in
ccordance with the Instructions Of the owners;
ut after the above date no paper viii be received
or collection unless Treasury notes or Bonds can
e received in payment Of the same.
]. S. GREEN,
Cashier of the Southern BOnk Of Mobile.
d. G. SAMSON,
Cashier Of the Southern Bank Of Ala.
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