Nashville union and dispatch. [volume] (Nashville, Tenn.) 1866-1868, 1867-10-15

Exchange on New York was sold yes
terday by the banks at ST per thousand.
Nashville corporation checks were bought
at 22c discount and sold at 1Sc discount.
Tennessee bonds sold in New York on
the 10th inst. as follows: $1,000 new at
63kc, $4,000 new at 633c, and $4,000 ex.
coupons at 648c. North Carolina ex. cou-
pons sold at 524@524c, and Georgia Is
at Sac
The New York Journal Of Commerce of
the afternoon of the 10th inst. says; "The
pressure for money is not so severe as to
prevent first class borrowers from satisfying
their need at 7 per cent. But it is diff
cult to borrow except upon prime securi-
ties, and large number Of operators who
have been carried along by the capital of
others now have to face the necessity of
liquidating. This not only brings many
valuable securities daily upon the market,
bat keeps mp constant excitement from
the calls of those who would fain postpone
the day of settlement. Ii is very difficult
10 negotiate business paper even of the best
quality. This is owing not so much to the
fear of panic that will topple over even
the strongest houses, a. to the fact that
money can be loaned on call with leading
securities at full rates of interest, and banks
or bankers do not care to purchase invest
ments while this alternative is offered.
The New York Tribune says Commercial
paper sells slowly at 7@9 per cent, and
long engagements are not in favor. The
fall in cotton goods is having a damaging
effect upon large class of notes. Mer-
chants generally complain of the prudence
of buyers who, as class, act upon the idea
that money is steadily increasing in buying
power, and that upon numerous articles of
commerce lower prices must soon prevail.
The continued rumors of Cabinet changes,
including Mr.. McCulloch, checks any dis
position to over-trade, and produces a
cautious feeling everywhere"
The discovery of the counterfeit 1905 is
still agitating financial circles. The New
York Post says several houses who deal
largely in government bonds, have been
notified by the department to take up such
of the counterfeit notes as have been sold
through them to the government. The ag-
gregate losses of these firms range from
$4,000 to $4,000, which will of course have
to be charged to their correspondents, il
they have the names on record. That the
counterfeits in question are very dangerous
ones may be inferred from the fact that they
passed the experts at the Treasury Depart
ment undetected. They were also unde-
tected by the experts employed by the
dealers in New York, whose skill and
quickness of eye is seldom at fault
The Washington correspondent of the
Cincinnati Gazette says in his dispatch of
the 18th instant:
There is much excitement in financial
circles about the recent discovery of coun-
terfeit 7-30s. No clue has yet been obtained
to the parties implicated. Some Treasury
officials believe the work 70 be done in
Europe, and other experts not connected
with the department are Of opinion that
the notes were made from an eIectrotype
copy of the original plate, and az a neces-
sary consequence some one in the depart
ment is connected with the counterfeiters.
II is not yet possible to tell what amount
Of the notes has been put in circulation,
but nearly 100000 has come TO light.
The Washington correspondent Of the
Cincinnati Eaqujrer says in his dispatch Of
the 18th instant:
The counterfeit bond matter continues to
be discussed The detectives have a clue
to the guilty parties. Suspicion had been
directed toward several employees of the
Treasury Department before the bonds were
proved 10 be counterfeit. Until then the
supposition was that they were over issues
which these persons had distracted. The
forthcoming report Of Secretary McCulloch
may enlighten the public.
The following description ofthecounter-
felt bonds win be found useful to both
holders and Dealers
WASHINGTON, Oct l2.-Mr. CLARK
Chief Of the Printing Bureau OF the Treas.
ury, to day presented TO Secretary McCul-
loch detailed official report IN reference
to the counteTfeit 7.30 notes. He saws that
all notes thus far presented are of the
denomination Of $1,000, dated June 18th,
1865, and bear check letter OF Z, none
Of them are marked with or D check
letters so Ear as has yet been discovered
lie thinks IL not improbable that such
may have been all that are pot 10 oiFeola-
iatioD, The differences are
FiFst--In the counterfeit the seal Is one
sixteenth Of an inch larger than IN the
/, genuine, and that this difference ~ size y
dHe to points alone, the counterfeit points
| being longer than ia the genuine. The