Nashville union and dispatch. [volume] (Nashville, Tenn.) 1866-1868, 1867-04-12
London advice Of the 1lth ipst. que

SERIES
u, 99s new lVl "a =
1g-ls,-- ..... gI1s9 -
10 @lOo1s
Lendon adyiees Of the 18th inst. quote
5-2Os at TAI.
Currency is working low with the banks,
and exchange has in consequence declined
shade The banks were buying at par
and selling at ! premium.
There is nothing doing in uncurrent
money. Bank of Tennessee is quiet at
2592Sc buying and 33c selling. There is
no change in other Tennessee banks. We
would judge from the following decision
that the Bank of West Tennessee is worth
par, though whether the managers and
owners of that institution choose to make
them so at present is doubtful.
New Orleans papers say that suits be-
fore the Fifth District Court by the Bank
of West Tennessee and the Chattanooga
Savings Institution, against the Citizens
Bank of New Orleans, have been decided
by Judge beaumont in favor of plaintiffs.
The Bank of West Tennessee sued for the
recovery of S90,S87 % and the Savings
Institution for 1888 SO, all of which
money was collected by the Citizens Bank
and placed to the credit of plaintiffs, re-
spectiVely. The instructions were to coll
lect in currency" and the bank took Con-
federate money. On the 18th of August,
1868, the several banks of the city were re-
quested by Gen. Banks to turn over to the
Chief Quartermaster of the Military De-
partment all moneys belonging to any per-
son domiciled in any Rebel State, and this
the defense claimed released the bank from
the debts above mentioned.
1t was proven that $4,000 of the Con-
federate money seized by the military
was sold afterward by Jacob Barker at the
request of Gen. Butler. Judge beaumont,
in rendering his decision, held that the
bank took the Confederate money as Sour
rency," at its own risk, and as it was shown
that the Citizens Bank had, in May, 1862,
about two millions of Confederate money.
then worth almost par, while in 1868, after
the isuiug Of Gen. Banks order, it only
had $4,000 in Confederate money, it was
evident that the bank had disposed of the
balance of these notes to its best intere t
and that Of its creditors, and plaintiffs in
this case being creditors, were entitled to
to their proportion. Judgement was rem
dered in favor of plaintiffs for the full
amounts claimed, interest from September
10, 1863, and costs of suit. A.
There was but one sale of Tennessee
bonds-$5000 of the new issue at &C. in
New York on the Sth inst.
The New York Post of the afternoon of
the 9Th inst. says;
Wall street has sympathized to some extent
with the excitement in the money market Of
Europe consequent on the supposed belligerent
aspect Of the relations Of France to Holland
relative to the Luxembourg question. Our Stock
Exchange did not receive any very decided im-
pulse, however, until the receipt of the noon
quotations from London. The result then was
a rise of per cent. in gold, which checked and
modified the otherwise inevitable fall of 5-2Os
and other securities which are heavily held
abroad.
By some persons it is regarded as not improb-
able that the distrust among the great powers
in Continental Europe may bring on a renewal
of hOstiIties in Germany, and may lead to an
extension OF It's area through wider sweep of
territory than any previous European war No
small anxiety is expressed TO know what would
be the probable effect Of such widespread con
migration.
The usual diversity Of opinion prevails. But
II seems generally agreed that if we keep clear
of entaneling alliances" we shall be the gamers
in several important respects. First ourbrea4-
stufs and provisions will be in demand as the
grain growing districts of Northern Europe
which are now our rivals in the markets. will
produce less than usual.
Secondly, our securities, as long as we are at
peace and prosperng will be likely to be sought
in preference to the fuctuating securities of
belligeFent nations.
Thirdly, European capital will be dislodged
from many of the usual investments at home
and will be attracted by the lucrative and in
viting enterprises which are developing here
with great rapidity, both North and South
Fourthly. these and other circumstances will
make such an enlargement in the earnings of
our railroads, in the productive value of
property generally, that the reeupera-
ton of the country from the languer resulting
from the war will be much accelerated
and increased. Without approving all these
sanguine anticipatiOns we may safely conclude
that our financial machinery. if war should
break out abroad will receive much less of evil
than some of the "crOakeTs" are ANTICIPATING
The loan market is easy but fairly active at
per cent. Comm ercial paper sells slowly at "a
for choice bills. inferior grades being extremely
dull and passing at high rates
The bank statement reflects some of the move
ments which made money so stringent during
the lastwee The deposits have fallen four and
a half millions, and the legal tenders, partly
from this and partly from other causes, have
fallen three and half illiOns. The loans have
decreased SSl2, 3S7. As the depicting movement
has now ceased and currency is returning from
the interior, the.averages now are likely to rise
as capital accumulates again here and in the
other financial centres.
Of gold the government is reported to have
sold $7OO,OOO at l33C9l335s, and n further lot at
1851. There is much remark regarding the bad
policy of selling the treasury gold at so low a
rate when there was an obvious imDOssibility
that in the presence OF the foreign news govern
ment could control the price or prevent an ad-
vance.
The exports ofspecie from New York to
foreign ports last week amounted to $780,
els. The following will show the totalex
ports of specie from New York to foreign
norris from January | To ADriI &