Nashville union and dispatch. [volume] (Nashville, Tenn.) 1866-1868, 1868-04-29

sos ID .--......,......,..... 11016
5-20s Sd series ll05s
5-2ls new issue, 1885
1925
7-30s I'd and Sd series.--....-......... 1918
London advices of yesterday quote United
States 5-20s at 703.
Exchange on New York is sold By the
banks at 4c premium and taken by them at
par.
United States bonds are bought in this
market at fraction under the New York
rate and are sold at about &c advance.
Nashville corporation checks are getting
rather dull. Dealers buy small amounts
at zoe in the dollar, and are selling at BIC
discount.
Bank of Tennessee notes are bought
at soc.
The sales of Southern State bonds at
the New York Stock Exchange on the 25th
inst. were as follows
FIRST BOARD
S85 900 Tennessee Is.
1000 Missouri
I,BO do ..,.....-....... .......,....SI
The New York Post of the afternoon of
the 18th inst says:
There are two points of interest in
Wall street to-day. First, the rate for call
loans seems to have settled easily down for
the present at per cent. on governments
and at on stock; aud secondly, the FIVE
twenty bonds, which are available in
foreign markets, are lower, while those
whose sale is confined to the home markets
are fraction higher. Gold is less active,
in CONSCIENCE partly of the spectators
having sold ont and partly of the more
pacific tone of the European news, and of
Embarrassing ease IN the foreign ex.
changes. The carrying rate for gold ia
2G5 per cent, with some apparent increase
in the supply of cash gold. The govern
ment is reported to have sold over $500 900
this morning. The loan market is quiet
at COZ per cent. The supply of available
capital is abundant, and currency con-
tinues to flow this way from the country.
In discounts little is doing. There is a
short supply of first class paper offering,
as a very sslutary disposition is evinced
by the merchants to do business on short
credits. Choice names pass at 7@S.
Those less in favor are quoted at 90l1.
The government is offering to buy seven
thirties at l07, but az this price ia below
the market, very few holders accept the
Treasury terms.
Secretary McCulloch, in reply to reso-
luton OF the House directing him to re-
port the amount of commission paid for
the sale and disposal of United States
bonds and securities, etc, says among
other things, it will be seen by Mr.. Fes-
senden's letter of January %, 1865, that
having failed in negotiating the 7-30 notes
as rapidly as the necessities of the Depart
ment required, through the instrumental
ity Of depository banks and other general
agencies, deemed II necessary to avail him
self of the services of Jay Cooke 10 popu-
lsrize the loan, and to this end to increase
the commission from one-half per cent.
which had been allowed to banks and gem
eral agencies TO three-quarters of one per
cent on the first fifty millions, and
on the next fifty millions 1t was under.
stood, however, that this increase of COM
mission was not TO inure to the benefit of
Cooke, inasmuch as he was directed to al
low sub-agents and others the same rates
of commission that had been allowed to
them, and pay all the expenses of negoti-
sting the notes. This arrangement was
continued on large scale by the present
Secretary. The Secretary says it will be
noticed By the schedules of sales of 7-3O
notes that the commissions paid some Sub
scribers were higher than those paid 10
Others. The explanation of this fact is
that 10 order to induce large subscriptions,
one half o. one per cent. was allowed By
the department as we'll as by Cooke, to
those subscribing for a million of dollars
and upwards, and from one-eighth to three
Fights Of one per cent. to those making
small subscriptions. Since the Jay Cooke
agency terminated, sales, when not made
by the Assistant Treasurer at New York,
or by brokers employed by him in special
cases, have been conducted through the
agency Of the First National Bank Of
Washington. The sales of gold have been
made through agencies selected by the As
sistant Treasurer at New York, and under
his direction Messrs. p NJ. Myers d Co.
have for nearly three years past been the
principal agents, but other persons or firms
have been occasionally employed.
The following is an abstract OF quarterly
reports Of the national banking associa-
tions Of the United States, showing their
condition on the morning Of the first MoL-
day 10 April, 1868, before the commence
ment of business:
RESOURCES.
Loans and discounts, including
over S627. eO9 $50 81
United States bonds deposited
to secure circulation -. 2s9. 26e50 o.