Nashville union and dispatch. [volume] (Nashville, Tenn.) 1866-1868, 1867-09-04

| OhlIcu states - us at iOS.
The fluctuations in gold during the week
have been small On Wednesday last the
opening rate was 142, and yesterday it
opened at Isl and closed at 14l3. Dealers
here were paying 40 and holding at l4l4
There is but little demand for exchange
on New York. The banks are buying at
par and selling at 81 per thousand.
Checks on London or Dublin are sold by
brokers at 81 10 per pound sterling.
There is nothing doing in our local bonds
and stocks, though there is some inquiry
for Davidson county bonds. These bonds
issued to the Louisville road are worth 50
| 085c, while those issued to the other roads
are quoted at 73@75c Nashville corpora
ton bonds may be quoted at. 60c.
Nashville corporation checks have not
been offered for sale very freely for the
last few days. and there has been a very
slight improvement. Brokers are offering
to buy in limited amounts at 28c discount.
Nashville and Chattanooga railroad
stock may be quoted at 20@25c, with no
transactions Suspension bridge stock is
worth 93c.
Tennessee bonds sold in New York on
the Both ult as follows $1,000 new at 65c,
ond on the 31st, $4,000 new at 645c. On
the 30th Virginia ex. coupons sold at 503c
and North Carolian ex. coupons at 53!c
and new at sac, and on the 31st Virginia
ex. coupons sold at 50lc.
The New York Post of the afternoon of
the 3lst ult. says: "The effects of the re-
cent abortive attempt to break down gov
eminent securities are still visible at the
Stock Exchange, in the eagerness on the
part Of those implicated, to buy up what
bonds they can to fulfill their outstanding
engagements. As to the amount of short
sales which have been made by the clique
and other persons during the past fortnight
there are various rumors afloat, but the
aggregate is probably several millions, of
which the greater part have no doubt been
bought in. The loan market is easy, and
in consequence of the great abundance Of
unemployed capital, lenders have difficulty
in employing their surplus funds. The
rate for call loans is nominally 495 per
cent, but large amounts are offered below
these rates. Commercial paper is dull at
6@63."
The cotton crop, as usual at this season
of the year, is beginning TO attract good
deal of attention and speculation in New
York. The New York Times thinks the
crop will not differ materially in weight
from that grown last year, while the United
States Economist looks for crop of $780,
600 to 100000 bales The Montgomery
Gala 1lal has the following speculations
upon the cotton crop:
"The impression that large crop of cot
ton will be made is gaining ground, but the
reports from all parts of the South do not
warrant it. We have before us accounts
from Texas, Louisiana and Mississippi,
which are very gloomy The New Orleans
Picdy1tRe publishes letter from a gentle
man every way reliable, who has been on
a visit to his plantation in Texas. Hear
ing gloomy accounts he would not believe
them without personal observation. Visit
ing several farms that looked we'll on the
1st of August he now finds them so COM
pletely ruined that not a bale will be made
on hundred acres, and on his own place
the cotton is so completely destroyed that
he will not gather a bale. OF course this
is not the case generally, but the yield has
been cut short, and to an alarming extent.
| 1t is safe TO say, that neither in Louisiana
nor Texas, will the crop be one-half what
it was expected six weeks ago. The fact is
| also to be remembered that none of the old
crop is on hand, while this time last year
large amount of it was in the interior of
Texas. Reports from many parishes in
Louisiana are equally distressing. The
want of rain in many parts of Alabama
has injured the cotton, and the worm will
still do some damage. We hope, however,
| that the fears on this account will prove
| groundless To Southwestern Georgia, and
| along the sea coast, there has been an un-
precedented long spell of wet weather, and
| the effect on the cotton has been very ia
| furious"
at is well enough for the country to
know these things. The crop in Alabama
| will be better than last year, and the corn
crop certainly is satisfactory, two things
which combined will necessarily keep a
| large amount of money in our midst, that
| last year went into the pockets of Northern
| and Western corn growers. While the
| aggregate amount of cotton will be smaller
than was expected, the deficiency from
Alabama will be less perhaps than any
| other State, and therefore the resulting
| benefit from good prices will be greater
| Foreign markets are not 50 dependent upon
| American cotton as in years past, and the
recent decline in Liverpool can probably be
| attributed to two things, reports from this
| country Of large crops and receipts from
| India and other places increasing the stock
| on hand. 1t is we'll known that a large
| quantity of the present crop will be con
sumed by domestic manufactures, from the
fact that there IS not one hundred thousand
bales of cotton On this side Of the Atlantic
and the weekly consumption of fifteen
| thousand bales will soon work it all up.
Many mills do not run their full force. If
| they did, the supply on hand would be ex-
hduHtSu DeiOIe the present crop COulQ gel
into the markets. On the whole the pro
spect for profit to the Alabama planter is
good. His store houses are filled with corn,
wheat is abundant, and the prices of meat
we hope will materially decline in the next
six weeks. Those who sell cotton early
generally come out best in the end"
The New Orleans Pieayune Of the lst
inst says:
The receipts Of new crop to date en-
brace twenty-five bales, against l23 last
year. The first arrival was on the 18th Of
August-that is, the first merchantable bale
from the Mississippi valley-fve sacks
in the seed were received from the lower
coast on the 18th, and bale of the Ala.
bama crop via Mobile, on the 10Th. The
first from the Mississippi valley last year