Nashville union and dispatch. [volume] (Nashville, Tenn.) 1866-1868, 1868-02-01


6O.OOO North Carolina 6's. ex. coupOhs........52
The New York Post of the afternoon of
the 28th alt. says; "The carrying rate
ranges from sos per cent, the chief
business being at 697. The loan market
is little more irregular. A number of
per cent. loans have been paid off; but in
certain quarters there has been consider
able changing of loans, and the activity in
stocks has increased the demand for money
The rates are still quoted, however, at
soc on call, and the prominent houses
hold heavy balances at A per cent. Yhe
accumulation here of idle capital is just
now 80 rapid and of such vast dimensions
that the changes to which we have referred
impress only temporary and circumscribed
effects upon its general movements. In dis
countssthere is little change. Good bills
are extremely scarce and pass freely at low
rates. The quoted terms are Gas for ac-
ceptable names, at short dates"
There appears to be scarcity of govern
ment bonds in all the markets, and the re-
cent advance in prices, which has taken
most every one by surprise, is not strange
when it is considered that the United
States $40 bonds are the best security for
Investment which is available either in
home or foreign markets. The New York
Tribune, under date of Monday evening,
has the following apropos to this subject
There has been an unusual demand for
government stocks to day, and, strange as
it may seem, there is no supply of any
issue, and leading houses who sold quite
moderate amounts of the new issue of
| per cents. in the morning, found themselVe yes
"short," and were obliged to convert z sos
| to make their deliveries. The Assistant
Treasurer was offered full prices for the
| new bonds, but declined 10 sell under in
structicns from Washington. There is .
steady investment demand for bonds from
| foreign as we'll as domestic holders, and the
street is nearly bare. The banks of the
country, contrary to the opinion of many
people, are in no condition to step in and
unload upon the present market, but are
Il Ia
/ quarterly statement shows that apart from
the bonds held as security for their circuIa.
ton, they are very small holders. The
Secretary of the Treasury is in no want O.
money, but has more than he can use to sd
vantage. Legislation to expand the cur
rency is only a cover for the speculationt
of members of Congress and their con.
federates, and the less there is of il in tn,
future the better.
The New York Financed Chronicle hal
the following speculations in regard to The
cotton supply for 1868:
What is likely to be the actual expor
movement for the cotton year, At thC
commencement, we had $1,000 bales stock
at the ports, and say 10000 bales in tbs
interior. Taking the present stock at the
most general estimate of 100000 bales
| we therefore commenced the year with q
total supply Of about 1858, 600 bales. o
this amount, We shall require for home
consumption, say 100000 bales, an amount
about $1,000 bales beyond our consump-
ton last year. Perhaps it may not be IN
reasonable TO estimate the amount held
back in the interior at the close of August
| lOVCt u30CA TIC
viously alluded to, at 1000 bales, anc
the stock in port, at the same date, at 150.'
900 bales. According to this estimate, vi
should have a total Of ,250, 600 consumed
and held back, leaving 1885, 900 bales fol
export from September /, 1867, to August
81, 1868. This estimated movement MAJ
be thus exhibited:
| Bales
Stock at port. September /. l867.........-.. $500
| Stock ia interior, same daie--,........--. 5000
crop OF 1901 ,1UV "
Total supply. Sept /. 1867 ..........-...2 6s3 o.
| Home consumption, Sept. !,
| 1867, 70 Aug. 81, ls63-...........70 %, 90
| Stock at porta, Sept. I, ls67.-..-.i50000
Held IN interior same date. .....- 800. co..
Total withheld from export. ]. go 90
Total available for export
cotton yeaF-.....'.....'.. 1890. lsS5osOV
/ The amount available for shipment, upor
this estimate, 10 1900 bales below tbs
actual export Of last year, when the pric.