Nashville union and dispatch. [volume] (Nashville, Tenn.) 1866-1868, 1867-05-29

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London advices of yesterday at P. NJ.
quote United States 5 20s at 72}.
Our Brokers are doing but little in I'M
current funds. Bank of Tennessee notes
are in some little demand at 35c. Union
and Planters Bank notes are par. Chatta-
nooga money is Toe. West Tennessee 45c.
and Ocoee 12c. Southern Bank notes are
in but little request.
We hear of but little doing in our local
bonds and stocks. Tennessee bonds are
worth &c. The past due coupons are
worth 76c. Davidson county bonds, issued
to the Louisville and Nashville railroad
are worth 83c. Those issued for other pur-
poses are worth about 74c. Nashville city
bonds are Coo. The coupons 90c. Nash
Vile corporation checks are bought at Soc,
and are used in payment of any debt due
the city. Louisville and Nashville rail-
road stock is worth 85c. The tax receipts
are worth par. Nashville and Chattanoo-
ga railroad stock is bought at 25c. The
stock of our other railroads is unsaleable
in this market South Nashville Street
railroad stock is rated at 40c. Suspension
Bridge stock usually commands 90@95c.
For the rates for government bonds, I'M
current money, and the various stocks in
this market, We refer to the advertisement
of the National Savings Company.
Tennessee bonds sold in New York on
the oath inst as follows; $4,000 new at
63c $1,000 at 624c; $1,000 ex. coupons at
Csc; and on the 25th, $4,000 ex. coupons
at 65c Virginia ex. coupon bonds sold at
Acc, and North Carolina ex. coupons at 48c.
Missouri bonds sold at 979c.
On the prospects of business the FInan-
ctdl Chronicle observes that "the long con-
tinued lull in commercial enterprise, the
general dizziness of business, and the fact
that in 1887, 1S47, and 1857, this country
was ravaged by financial panics, have led
a few persons to anticipate that the current
year will not close without serious revul-
sion. And though it may be easier to show
that the existing state of our monetary ma
chinery is unfavorable to the fulfllment
of these predictions of disaster, still as the
laws of panics are imperfectly understood,
and by most people misunderstood, it is no
wonder that distrust is generated, and that
an, tafxy t,arvvohas oil oIogsa1 g
pie, not to venture out of their depth, or
risk monetary engagements beyond their
assured means. There are however, some
symptoms of a reaction. We have a pros
pect of ample crops. The earnings of the
railroads show an improvement Many
other circumstances contribute to foretoken
that the depression of several months past
with its enforced quietude will give place
to a more gratifying activity. Exempt, as
we shall be, in all probability, from two of
the chief causes of financial stringency-
deficiency of available capital seeking in
vestment, and arrangement of the currency
by the movement of the Treasury-we may
fairly anticipate an easy money market ex-
cept, indeed, the general confidence should
be impaired by further failures in the
South or elsewhere. So far, however, these
failures have only served to show on how
firm basis the credit machinery of the
country reposes. Outside of narrow cir
cult the suspension of Watts, Crane & Co.,
for six millions, and that of Fraser, Tren-
holm & Co., for four millions, scarcely pro-
duced perceptible tremor, although these
failures were so suddenly announced, so
wide in their influence and so vast in the
amounts involved The fact appears to be
that our commercial classes generally have
prepared for financial reverses, and have
strengthened themselves in all possible
WAYS. But it must be remembered that,
though a ship under bare poles may scud
through a storm, yet in fairer weather, for
purpose of navigation and commerce, risks
must be taken, and as much sail carried as
wise seamanship will justify. To err from
timidity or ignorance in the one case is al
most as fatal as to err from rashness and
incapacity in the other"
The following will show the stocks of
cotton on hand at the various ports on the
1st of September, 1866, the receipts and
exports to foreign ports since that date and
the stocks on hand at the dates designated :