Nashville union and American. [volume] (Nashville, Tenn.) 1868-1875, 1872-12-13
GOVERNMENT SECURITIES.
Government bonds are shade lower.
The following are the noon rates
LOCAL STOCKS AND BONDS.

Tennessee bonds are quoted IL New
York at 82a. Dealers here offer about SOL.
The past due bonds are worth SO and the
past due coupons 5Sc in the dollar.
Bank of Tennessee notes are very scarce
and are held by dealers at 95c.
Comptroller's warrants are in some de-
mand and would bring 90c while dealers
sell at 92693.
County and city bonds are quite firm
with but few on the market. For quota
tons we refer to the rates published by the
National Savings Company, corner Union
and College streets.
FINANCIAL MATTERS.
The Washington correspondent of the
Cincinnati Gazette says: The Ways and
Means Committee devoted its session this
morning Dec. 10.) to the consideration of
Secretary Boutwell's recent proposition
from the new syndicate for three hundred
millions of new i've per cent. bonds, and
his request for an enlarged appropriation
to pay tn expenses of negotiation, with
the understanding that if not allowed, the
transaction will proceed on substantially
the same terms as those of a year and half
ago. The interchange of opinion among
the committee was rather informal, and no
definite conclusion was reached. 1t is under
stood that there was substantial agreement
among the Republican members of the COM
mittee in favor of allowing theSecretary togo
forward with the business of placing the
loan, or repeating, in its principal features,
the previous syndicate, though Mr. Burch-
ard preferred that restriction contained in
the bill offered by him yesterday, that the
Secretary shall not be allowed to retain new
bonds for more than 80 days after they are
sold. This provision is designed more as a
protection against future contingencies than
rs restriction necessary to be placed on
Secretary Boutwell,, and will not seriously
delay the proposed negotiation. Oaly two
of the Democratic members ofthe commit
tee were present, and of these Mr.. Beck
favored, in general terms, the increased ap-
preparation asked by the Secretary, while
Mr. Kerr expressed no decided opinion on
the merits OF the case. The principal diff
Guilty in the way of agreement among the
committee appears to bs the strong and
positive committal of the Democrats
against the syndicate, last session, which
they cannot now readily modify, and the
matter, If brought to vote in the House,
will probably be decided by party d.
vision.
Several wall street bankers have been In
terviewed about the banking bill introduc-
ed in Congress by Mr.. Wheeler, to incor-
pOrate the Governor and Managers Of the
excbeqQer of the United States. Most of
them said they knew nothing about it, and
! thought it would not succeed, for the rea-
| son that the powers conferred were greater
! than any moneyed institution had ever pos
sessed. They we're greater than those Of
tie old Bank of the United States, and it
would fill the same position in this country
as the Bank of England in Great Britain.
Most of them said they did not believe
Congress would confer such power. Henry
/ Cle@s appeared 10 know more about the
matter than anybody else. He declined TO
| give the name of persons interested ia
the scheme, and appeared desirous to have
! notmng said about the business for the
present. He said the capital need not
be more than tive millions, though it
was possible it might be one hundred mil
| Hons. One of the main features of the bul-
siness would be the redemption of national
BANK bills, and 10 this respect it would re-
sembie the Suffolk Bank of Boston. l.
wonld also be source of accommodation
/ 70 the merchants of the country in giving