Nashville union and dispatch. [volume] (Nashville, Tenn.) 1866-1868, 1867-03-26

80. I'd and Sd l05e l035
London adviees Of the 25th inst. quote
United States 5-2o,s at T4l. At Frankfort
the quotation was IS and at Paris SAG.
Exchange on New York was bought by
the banks yesterday at par, and sold at
premium. r--r $500
There was but little doing in uheurrent
money, and We heard of no change in
rates. tAA
Bank of Tennessee was inactive and the
rates were nominal at 25c buying aud sc
selling. Union and Planters bank notes
were in good demand, the former at zoe,
and the latter at SIC. aEf.lg
Southern bank notes were dull at the
advertised rates.
neutrality-suspicious. checks were bought
at l0c and sold at Sc discount.
Tennessee bon Is sold in New York on
the 10th inst as follows: $1,000 ex. cou-
pons at 66lc, $4,000 ex. coupons at 664c,
$4,000 new at 644e; and on the Dist
$4,000 new at 64ic North Carolina bonds
sold at 5O@49c for ex. coupons and new,
and Virginia bonds at 6OG57c.
We print in this mornings UNION AND
DISPATCH an article from the Memphis
Balietin in regssd to the Tennessee Nation
al Bank and the school fund. The bank
has not closed its doors (suspended) as
stated Joy the BaAlstia. A letter from
reliable source states that the bank was
paying small checks on Saturday. We
have the authority of Mr.. Watson for say
ing that he has filed no bill in regard TO
the so-called school fund, and that Mr.
Rutter conld not have been served with
the process referred to By the Bulletin.
The bank. suffered the note given by its
officers in part consideration of the school
fund to go TO protest, and the pretense that
Mr.. Watson is claiming the fund or any
portion Of it, is put forth by Mr. Rutter as
some sort of justification for permitting
his note to De protested, after having given
positive assurance that it would bepromptly
met. We understand that Judge Norman,
the acting Comptroller and Others have
gone to Memphis to see what can be done
with the matter, but there is a general i'm
preston that whatever the legislative COM
mittee did not secure Of the school fund is
lost. 1t will be remembered that when
the legislative committee came back from
Memphis they whitewashed the Tennessee
National Bank-to such an extent as to ex-
cite good deal of remark. Why they
did this very few could understand. II is
not improbable that this school fund matter
Will yet get into the courts, and that de-
velopments will be made which will reflect
but little credit upon parties who have en-
deavored to "coyer up the moccasin tracks"
The New York Times says IN its money
article of the Dist instant;
An impression was attempted to be made
| among the brokers that the quarterly statement
| Of the national banks. to be made up on Mon
| day week, April j, is to create a temporary
pressure for money; but we are quite we'll as
sured that, so far as the New York city nation
ais ETe concerned, there will be no occasion for
even a single days calling in of money, much
less n want of ease in making up their quarterly
I
/ now Gold in lawful money fifteen millions in ex-
1 cess IF the required per centage which they are
required to exhibit in their net deposits and
circulation, with the tendency of the domestic
exchanges in nearly every quarter in favor Of
this city 1t is barely possible that the recur-
renee Of the quarterly statement may make a
| temporary extra demand for money in other
| parts Of the country, but nOtin New York.
An impression obtains among some Of the
gold room spectators that an export movement
of gold coin may spring up before the LIST of May
"a account OF the (SuppOsedl heavy amount Of
4 travellers credits for the Paris Exposition, and
the usual remttanccs to be soon made for foreign
| imports marketed this spring and the May diy-
| dend on United States 5-2)s We see no present
reason to give much importance TO this cireula- 4
| ton; but coneSding il to be plausible, we are
| now within less than six weeks of the disburse-
ment by the Treasury of S24 100000 in gold coin
for'the May dividend of $685. of which less than
twO-ftths belong to European holders, leaving
from $l4 900 900 to Sl5000000 free to supply any
| other export demand for gold; and this is on the
assumption that no part Of the European inter-
est will be reinvested in other United States
securities.
The New York Post of the afternoon Of
the Dist inst. says:
As the banks throughout the country have to
make their quarterly statement in ten days
there is steady Accommodation Of country
bank balances in this city, as these balances are
more profitable than legal tenders. For while
the New York halauees cOUnt n razarVe Z