Daily union and American. [volume] (Nashville, Tenn.) 1865-1866, 1866-05-12
MONETARY AND COMMERCIAL
OFFIcE Of TIE UNION IND American. I

J
MoEETARY.-The following are the New York
quotations for Gold yesterday: Opened at 1875;
the same at II o'clock and at noon. but at p. N.
was quoted at 1895.
Bank Of Tennessee notes are scarcely so firm.
but rates are unchanged. Brokers pay S3e and
sell at 35GlOc. with very little doing.
There have been several changes IN the rates
paid for uucurrent money, rs will be seen by re
ference 10 the advertisement Of Thomas S.
Mari.
Planters Bank Is quoted at only 60 cents,
which lie a decline Of two cents in the dollar. Some
dealers were paying more yesterday. but we sup
pose the uniform rate to-day will be6O cents.
Union Bank notes remain very dull at zoe, with
scarcely any demand.
Southern money is dull and rates tend lower
CoTTov.-TheIe was some improvement in the
market on yesterday. We heard of 30 bales
changing hands, 26@271zc for a good article. New
York dispatches quote the market firm at IS cents
for middling.
Speaking Of the Memphis market. the Appeal
Of the 10th says;
Holders still ask SOc for cotton. but buyers are
lesc inclined tO accede TO their views, and cotton
appeared to be q cent lower. There was very
slight inquiry, and sales were very few, not sutl-
cent to establish any quotations, but indicating
decline.
A New York financial writer specializing as to
the future prospects Of the price Of cotton says:
Whatever reasons there may be here or else
where TO hold up the price of cotton beyond ITS
true value as a commodity, we must be prepared
to survey the facts connected with the production
of the staple and with It's probable consumption,
and then, having weighed the whole subject, to
decide upon the results which likely to follow.
Without attempting 10 present the figures show
ing the amount Of cotton on hand Throughout
Il. 4 h .arNn of AZ
large amount of cotton already in fabrics and n
the raw state, together with the promise OF the
cotton crops in this country and IN other coun-
tries is sufficient to warn all spectators that the
present prices must decline although for mid
ding uplands, for instance, there has been de-
cline in the Liverpool market, within four or hEe
weeks, from nineteen TO fourteen pence per pound.
Further than this. We find every warehouse IN
this city filled with fine and coarse cotton tabrlcs,
which cannot be disposed Of even though forced
into auction at rIlnOus losses 10 tne importers.
They rest uncalled for in the retail stores, though
among the finer fabrics, particularly the French
musns, there were never before sent out such
beautiful products Cf the loom. 10 stem the
tide of loss is now impossible, and cotton dealers
whether in the staple or IN the fabrics, must pc
prepared to witness tue most RAPID and terrible
fall in prices ever known IN the history OF our
commerce. We have been urged to keep back
the truth with respect TO the condition OIL tue
cotton world, under the plea that great mischief
must arise from making il known, by which prices
must be made to fill. To be silent, however,
would only be to mis- cad those VINO Will not stu
dy for themselves, bat rely upon the organs OF
public opinion. We have again and again warn
ed dealers that the stock Of cotton has been much
larger than some interested parties have repre-
scented, and now having expressed the bele1 that
we are ON the eve of a crash in cotton, we leave
the subject that those who are adopts IN estimates
may show their figures for the last year ana AFFECT
to dsspise infcrences, when this shall be done
it may be worth while to sum up the record ior
the last two years. and deduce from the state
ments such evidences as justify the view We take
of the immediate future.
GRocERIEs-Business has not been very active
in the general market, but in some articles trade
has been satisfactory. We have no changes
worthy Of special mention.
FLoUR-While prices have slightly declined,
holders Show no great anxiety to make sales, and
with fine supply on the market-we quote So 80
@lO 90 for Superfne; ST. 5O@12 for family, and
Sl3 for fancy. being n slight dyance on former
prices.
BACoS-Thc price of bacon is upward while the
stock is ample and sales fair. We quote clear
Sides l9c; Shoulders l5lzc, and Hams &c.
LARD-Has been moderately active for the last
few days and we note in ticrce at 2O@22c, and
25@2ic for keg.
SALT-Maintains a firm rate and we quote as
before at 81 . for seven bushcl barrels, while a
prospective rise the river falls.
SUGAR-The market is quiet and very little do
ing at former prices, say for Cuba l3Agl41@c;
Porto Rico, l5@l6c New Orleans, l7@lSc; Dem
arara, l7l4@lSc; Stand Iards l9c; coffee, lS12c;
B lSc; I7J2c, and yellow l6@17c.
CorFEE-The stock on hand is ample and sales
but light, at for common to good, 2i12g36c fair to
prime. ~ 9G2Sc; choice pc.
NAMs-The demand has improved but the pri-
on a stand at IS ZOOS 25 for los to lOs and
25c advance on each diminishing grade.
LIoUoRs-Transaction are light at old quota
tions-circumstance beyond the control of the
trade operating unfavorably upon this branch OF
business We quote Bourbon at So 00ai so; RO-
bertson. s. 1915 90; Common 81 25@2 50; French
s. OOas 90; Catawba s. COOS 90; Ginger So OO@
30: Apple 81 OOa5 90; Peach s. 75@5 %.