Nashville union and dispatch. [volume] (Nashville, Tenn.) 1866-1868, 1867-10-19

aufiOeS Vi yesterday quote
United States 5-2Os at 6SI.
Exchange on New York was sold
by the banks yesterday at 81 per thousand.
Nashville corporation checks were quiet
at zoe discount buying and I5c discount
selling.
There was little doing in government
bonds or uncurrent money.
Tennessee bonds sold in New York on
the 18th inst, as follows: $4,000 ex cou-
pons at 634c, $4,000 new at 6Izc, $1,000
IS at Coo, $4,000 new at Gle, $4,000 new
at Gle, $1,000 new at 605c and $4,000 ex.
coupons at 63c Virginia ex. coupons were
quoted at 47c, and new at 42c, North
Carolina ex. coupons and new at 52c, and
Georgia IS at 74c and Is at 83c.
The New York Times says in its money
article Of the evening of the 18th instant
The demand for money which showed
more than the usual activity late on Mon,
day continued to-day, and lenders generally
report a good inquiry at the full rate of 7
per cent. on call. There is quite a rush
of United States 1880 per cents. from the
country for sale or conversion, the greater
part for peremptory sale, while the demand
for the United States 5-2Os, into which they
are convertible, has fallen off This con.
tributes TO the employment of money by
the great dealers in the public funds, bes.
sides making lower prices for 7-3Os and the
gold bearing bonds. At the close of the
day there was less complaint about money,
good many of the stock brokers having
made up their wants early, and there was
also little more steadiness in the funds.
The Treasury is converting the 7-30 per
cents. quite actively, making the exchange
here without sending the notes to Wash
ington. The Treasury is also paying out
currency to-day to the small holders of the
October compounds. A good many of the
banks, country as we'll as city, are applying
for the new three per cent. certificates to the
extent they are left over by the holders of
the compounds, all sums of the latter I'M
der $4,000 being paid off in currency"
The New York Post of the afternoon of
the 18th inst, noticing the fact that seventy
eight of the counterfeit 7-30 bonds had
been sent to the Assistant Treasurer at New
York, says
The report has been current that the
government has made formal demand on
the persons from whom the counterfeits were
redeemed, requiring payment of the money
received for them from the Treasury. This
rumor is untrue. No such demand has
been made as yet
Several interviews have, however, taken
place between the Assistant Treasurer and
the firms in interest. There appears to be
some doubt at present as to what will be
done. The questions involved are so large
in their sweep, and connect themselves so
closely with the public confidence and pub
lie credit, that as is natural the various
parties are looking up the decisions of the
courts of law. And it is claimed in regard
to the analogous reported cases in which
notes on itself have been pre-
sented to and paid by bank, the rulings
and decisions such that "the Treasury
having received and cancelled the counter
felt notes in dispute, cannot go back upon
the innocent holder from whom it got them,
but can only have recourse to the counter
feiter. The principle is an important one,
and should be settled finally and without
delay"
Same stress is laid on the point made in
10 Wheaton, 1893, where it is ruled that
although "a payment received in forged |
paper is not good when there has been no
negligence in the party receiving it, yet
the principle does not apply TO a payment
made bona fde TO bank Of its own notes,
which are received by it as cash and after
wards discovered TO b. forged
The following will show the stocks Of
Rio coffee held at the various receiving
ports at the latest dates