Nashville union and American. [volume] (Nashville, Tenn.) 1868-1875, 1872-10-30

Tennessee Bonds remain very steady and
are quoted 10 Few York 81 74s. When
offered for sale here dealers usually bid Z
under the New York rate.
LOCAL STOCKS. --e.g.
Our brokers' report but few bonds or
stocks offering for sale, and what fe W are
Offered are generally cid at full rates.
Bank Of Tennessee notes, old Issue, are
scarce and in some demand. Dealers buy
at 90 and ask "a. The new issue is very
firm at 80, while dealers will not sell at
less than 3S640c.
State warrants are dull at sec.
For more particular quotations of stocks
and bonds, we refer to rates given by the
National Savings Company, corner Union
and College streets, in another place OF this
paper.
FINANCIAL MATTERS.
The st. Louis Democrat of the 18th
inst. says: "There has been no improve
ment in the condition of the local money
market. The demand for loanable funds
has been in excess of the supply, and the
banks have been taxed TO their utmost to
supply their regular customers, it being al
most impossible to place outside paper at
any price. Rates Of discount have been
firm at ten per cent. and upward to Gus
toners; outside paper higher. Business
over the counter has been active, with de-
posts somewhat below the average" The
Republican reports that large amounts of
currency go to Southern points.
The Cincinnati Gazette says, Oct. %:
"There was little change in our local money
market on Saturday. The demand for
money was active, and the banks were able
to discount for depositors only to about the
usual extent at 500 per cent. There
were some orders for currency from the
South, but not much from other quarters.
Inthe open market it was easier to place
prime business paper at l0612 per cent,
but some good paper was negotiated at II
per cent. per MONTH"
The Chicago Times says, Oct. %:
The changes in the money market last
week were rather unimpoFtant. There
| was doubtless some Improvement IN inte-
rior collections, and consequently cores
| ponding increase in current deposits, but
| the changes in these items were insufficient
! to affect materially the general situation
| As on the former weeks of the month,
money was decidedly close, and the banks
were remarkably careful, and conservative
| in the deposition of their available funds
| The near approach OF the opening OF the
! packing season, when the demands of the
! PROVISION interest for money will be aug
mented ten fold, more than counter-bal-
anced the almost imperceptible improve
nlent that was developed by the small in
crease in deposits, and compelled the banks
| to hold closely to the policy that has marked
the management of their business Of late
Hence discounts were difficult to Obtain
throughout, and although bank patron;
were probably less urgent in their calls thar
usual, vet not over one half of the papel
offered was accepted. Customers in thu
very best standing were often Disseminated
against, or refused favors, and the whol'
movement of the Joan market was I'M
doubleday too stringent 10 satisfy borrow
ers, or parties in qusstof recommendations
Still, there was pretty general scquies
cenca in the condition Of affairs, and a rea
sonably cheerful feeling was exhibited
al sloes. On the, street, money was n.
| a. 2 per cent. per month, though short loan