Nashville union and dispatch. [volume] (Nashville, Tenn.) 1866-1868, 1867-07-11
London advices of yesterday quote u

ted States 5-20s at 49, t
Considerable demand has arisen among
our people for the new issue of $40 bonds,
which seem now to be the favorite United
States security. The brokers are Obliged
to order this issue almost exclusively for
this market, although they are J higher
than the issue of 1864, and I higher than
that of 1865, at the present price of gold.
Tennessee bonds sold in New York on
the 9th inst as follows: $4,000 ex. coupons
at 66c; $4,000 ex. coupons at cote $4,000
new at 6Ssc; $4,000 new at 691c, and Sl3,-
600 new 63sc North Carolina ex. coupons
and new sold at the same price, SAC. Mis-
souri, bonds sold at 954@954c.
The New York Post of the afternoon of
the 9th inst. says: "The loan market shows
increasing ease, in consequence partly Of
the plethora of money in London aud in
the chief financial centres of CONT
mental Europe. There is a continued ac-
emulation of currency here, and the eoun-
ny UdldhC6S are dlao ChiaiSAuSs ObOth
Exchange loans are made at per cent. to-
day, and at 495 on governments. Com
mercial paper passes at 6@7, with rather
less disposition to discriminate. The rates
for money seem generally to be tending in
favor of borrowers. There is considerable
demand among the outside public for some
of the leading railroad shares, founded in
part on the ease in money, in part on the
anticipation of good crops, but chiefly on
the conviction that railroad property has
been unduly deprecated, and that while
the leading lines of road were built in adj
vance of the public demand. the country is
being enriched and developed by them, has
grown gradually up to them, and viii soon
render the best situated lines remunerative.
Such arguments as these are very freely
canvassed in Wall street, and to them, APP
parently, is largely due the investment de-
mand which has recently sprung up for
railroad securities. The speculative move
ment has also received an impulse from
similar causes, and it is especially stimu-
lated by the fact that the shares Of num-
Der of the best railroads which were for
merly on the speculative list are no longer
floating in the market, but have been taken
ont of the street" and are firmly held by
investors. The volume of shares ayaila-
bic for the ordinary operations of specula-
tors is consequently lessened. Hence the
efforts and manipulations of these persons
being concentrated on fewer points, is all
the more effective there"
The Cincinnati Commercial says in its re-
view of the market for the week ending
July 8th:
Flour has had dragging market throughout
the week, with the demand mainly confined to
the best grades. This demand was to day a lit
tie nore active, but there was no recovery from
the reduced figures given in our last, which are
5OG7 &c below those given last Monday. Although
this dull spirit controls the market, it IL TO be
remarked that there is not much of a pressure
to sell good grades of freshly ground, since it Is
known that the stock of them Is light and that
they cannot be suppianted by that made from
new wheat. We give as the current quotations
$7GT IS for spring superfne S8q9 for winter;
5000 for spring extra; SlOgll for winter do;
$40 509l2 for spring and winter family. Forced
sales Of either grade would make concessions
necessary. New -four has become slightly more
plentiful but il would be covered by the range
of prices given above for old.
Wheat declined rather sharply on Wedhes-
day, falling to 50 IS Tor No. red winter. On
Friday it recovered l0C915c. but on Saturday be-
came dull again and fell back to 81 Is for No. ! I;
81 1902 Is for No. 2. To-day the market quick
ened again and No. was put mp to 81 IS and
No. 2 to 81 20. The lightness of the supply
makes the market exceeding sensitive to the
effect of inquiry. and the expectation of large
receipts of new at an early period makes it
heavy and causes decline as soon as the de-
mand is Withdrawn. New wheat is as yet spar
ilgly offered. No. has nominal quotation at
g. There Is nothing doing In spring, and it
seems not improbable that it will soon pass en-
tiTely from consideration in this market il COM
petition with fall"
The Cincinnati Gazette says: "TheFe is
no new wheat offered on the spot as yet,
and that which has been sold to arrive does
not come to hand as promptly as expected.
In regard tc prices of new wheat, opinions
are various. Millers profess to believe that
it will be bought at 81 so, while sellers
have their minds made up to g per bushel
as the rate that will be current when it gets
fairly into market; it is probable that both
parties views will be someWhat modified"