Nashville union and dispatch. [volume] (Nashville, Tenn.) 1866-1868, 1867-08-04

l-5USs "a anu Oh seTle-.-.s.-. ift
Exchange on New York was furnished
by the banks yesterday at 81 per thou
sand.
Nashville corporation checks were
bought at 16c and are sold at lac discount.
Tennessee bonds sold in New York on
the 3lst nit. as follows; $4,000 new at 66Ic
and $4,000 new at 664c. Georgia Is sold
at 85c.
The plethora of money just now in all
the great centres of commerce is remark
able, and probably unprecedented. The
Bank Of England, which is the unerring
barometer of the financial condition of
Great Britain, has its cOtiersso full that the
rate of interest is reduced to two and half
per cent, with some talk Of reducing it
to two per cent. 1t was the same with the
Bank of France The former had twenty
two and a half millions sterling in its vaults,
and the latter over thirty-three millions
sterling. This extraordinary accumulation
of specie shows wonderful change since a
year ago. when the Bank of England rate
of interest was ten per cent But such is
the abundance of money outside the banks,
as well as in them, that it cen be had both
in Loadon and Paris from other parties at
one and half per cent. interest. In New
York, though the interest is almost always
much higher than in Europe, money is very
abundant, and during the past week or two
the amount Of surplus capital offering has
been considerably in excess of the wants of
borrowers, and temporary loans were made
on acceptable securities at three to five per
cent The United States Treasury has prob
ably az much specie in its vaults as the
Bank of England, or more. The July state
ment has not been made, but the probability
is that the amount will be equal to twenty
three or twenty-four millions sterling. Thus,
there is at present accumulated in these
three great national institutions the enOr-
nous amount ofabOut four hundred millions
of dollars in specie. This, however, repre-
sents only a small portion of the money in
various forms that is afoat.
The Cincinnati Enquirer of the 81 inst.
says of flour and wheat
There was less anxiety on the part of |
holders to sell, and the offerings were not |
so free; there is, however, fully az much |
offering as finds buyers at our quotations. |
The demand is still chiefly from the local |
dealers, and purchases are being made |
mainly with reference to immediate wants. |
Spectators are confidently anticipating |
lower figures, and are not buying. The |
advices from the seabOard to-day were more |
but this had very little inhu- |
enCe on our market, as there is not sufficient
margin to induce shippers to operate. |
There has been no essential change lii
prices since yesterday. Family, made from |
new wheat, is quoted 50 5000 IS. New
extra can be bought at S. 1909, aud old |
at s. 50CG8, with small transac- |
tiOns within this range, though round lots |
could not be disposed of without oonces- |
siOns
The receipts of wheat have fallen of, and |
for the twenty-four hours ending noon to- |
udy Tue arrivals were q lltlle over coOO 1
bushels. The decline in receipts has i'm
parted more firmness to the market, and |
there was less disposition to sell. 1t had,
however, no further influence than this, a.
there is no market for shipment, and the
local demand is only moderate. There is
an unsettled feeling in regard to the future;
and buyers are too timid to operate for for
ward delivery, except at prices considerably |
below the views of holders. At present
purchases are being made only to supply
present wants, as lower prices are antici-
pated No. red winter could have been
sold at 81 s. readily at the close, though |
holders in most cases refused to sell at less
than 81 95 Several choice lots, including
one or two samples of Hill, sold at 81.
White wheat is in but moderate supply, |
the best grades, and holders are
demanding full prices. The best grades of |
Kentucky are held at 81 1902 20, aud |
some sales were effected at these rates.