Nashville union and dispatch. [volume] (Nashville, Tenn.) 1866-1868, 1867-01-27


The latest London adviees quote 500:
at 72s.
Exchange on New York was bought BY
the banks at discount. and sold BY them
at par
Very little was done IN uneurrent money.
Bank Of Tennessee was'quiet at 4Sc buying.
and SIC selling. Planters Bank was firm
at SIC buying, and "a selling, while Union
Bank was in much demand at SAC buving.
and 85c selling.
Southern Bank notes we're dnll at the
advertised rates.
Nashville corporation checks were dull at
Toe discount
Tennessee bonds sold in New York on
the 22d inst As follows: $4,000 ex. cou:
pons At G44e, $4,000 new at 644c, and $40.
600 at 64c and on the 23d, $4,000 ex.
coupons at 644c, 5000 at Gao, $4,000 at
694c, $4,000 new at 69Rc, $4,000 at CSC.
$4,000, I'd call, at CSC, 81 900 at 634c, and
$4,000 at 63c. North Carolina bonds sold
at 52c, aud Virginia at Coo. Tennessee
bonds have declined fully &c during the
present month. The reason for this is not
apparent The New York Tribune of
the 2Sd inst. saws: The stock market
has been much excited by the collapse in
Cumberland coal and the general scramble
TO sell all kinds Of stocks made in conse.
quence. Most of the shares on the list are
inflated by the same means used to put
Cumberland to SO, and are on the road to
collapse in the same way when the dance
of speculation ends as it inevitably must.
by the exhaustion of the dancers. The
hanks are loaded with stocks as collateral
for loans, commencing with United States
Is of 1881, and ending with certificates of
trash only saleable under pressure by the
pound TO the paper maker, and the pre-
cess Of wedding ont their loans is not re-
garded with complacency by them"
The New York Times reports the money
market quite easy, and the few loans want
ed by the brokers were readily supplied at
J per cent, and balances were offered TO
the leading stock and money firms at 6 per |
cent, preference being givento government |
collateral. Loans were also made at 7 per |
cent. at 80 days on stock collateral, and in |
one instance a negotiation for considerable |
sum was made, at the instance of one of the
uptown banks, at 6 per cent for four
months.
1t is reported that although the House
Committee on Banking and Currency have
agreed to report the Randall bill, provid-
ing for substituting legal tender notes for
National bank notes, it is at the same time
learned that a majority of the committee
do not favor the bill, but deem it best to
bring il before the House for an expression
of its opinion. The country banks. espe-
cially in the Wesb are sending in protests
daily against the adoption of the bin.
The United States Treasurer has Issued
new rules for the redemption of fractional
and other United States notes, that from
whatever cause have become unfit for cir
Under these rules all National
banks that have been designated as deposit
tories Of public money are required to CO.
operate in the work of redemption, except
Of such notes as are designated "a mntilated
by the department.
The statement of the New York city
banks for the week ending Saturday, Janu-
airy 10, compare as follows with the pre-
vious week, and with the corresponding
week last year. to which we add the specie
and currency balances in the New York
office Of the United States Treasury at
these dates, respectively |