Nashville union and American. [volume] (Nashville, Tenn.) 1868-1875, 1872-11-15
LOCAL STOCKS AND BONDS.

Tennessee bonds were quoted in New
York yesterday at 79R. They would bring
here about 72aa. The past due Tennessee
bonds are worth about 80 and the coupons
53c in the dollar. -
Bank Of Tennessee notes, old issue, are
very scarce with none in market, nominal
rate CSC. State warrants are very dull a.
sec in the dollar.
There is scarcely anything doing in new
issue, Bank of Tennessee notes. Dealers
make a wide margin, holding at 40c and
Offering to buy at 30c.
There is but little doing in county and
city bonds.
For quotations more in detail we refer to
the rates given in another part of this paper
by the National Savings Company, corner
Union and College streets.
FINANCIAL MATTERS.
Money continues in good supply in st.
Louis, and applications for discount were
promptly met by the banks. In Cincinna-
ii the market is rather tight, and the de.
mand seems greater than the supply. The
Philadelphia money market was a good
deal excited on the l lth inst, with marked
disposition on the part of lenders to wait
for day or two.
In regard to the real situation at London
and Amsterdam, but little is definitely
known here. 1t is generally conceded,
even by foreign bankers, that money is very
active in London at high rates i'll the open
| market. The immediate cause of this &C
tiyity was the subj of much conjecture in
| financial circles here, and during the week
several reasons have been assigned there
| for. Early in the week rumors were sfloat
| here Of probable difficulty between Eng
land and Russia in regard to the military
operations Of the latter power against the
| Khan Of KniVs, which were looked upon
! as threatening the stability of England in
| her hold upon India. The Kdan of Khiva.
| however, soon OuJliVed his usefulness and
! lest his influence on speculation on the
| Stock Excl anga and Gold Room. Then
| the fact that the crops in England were
snort and her imports of food heavy, aud
| likely TO continue so, was put forth as the
reason for the money string9ncy at London.
On Saturday the cable announced that the
| Bank of England Directors had advanced
| the rate OF discount to per cent, which,
although rumored On Friday, caused some
little surprise, as the community generally
were unprepared for such step on semi
holiday In England. This movement on
the part of the bank, aud private kilograms
from the other side, give us soma light in
| regard to the financial situation at London.
Prince Bismarck, on behalf of the German
Government, IS drawing gold from London
largely for coinage purposes. During the
past week the Bank of England received
100000 sterling in bullion from Paris and
100000 sterling from Australia; and yet
in the face of this large influx of gold, the
weekly bank statement shows a loss OF
f135,O0O sterling in bullion. Tie new
gold coinage of Germany becomes legal
tender on the first Of January next, when
the German Government will disburse
about So, 10000 gold in payment of ma
turing loans. 1t is the prevailing impress
sion among well info med bankers here
that Bismarck viii con;inue to draw gold
from London, and recon rs much Of it as
possible between now ard The close of the
year. In view of this probability the
movements of the Bank OF England AID
the financial situation abroad will no o. 1bI
be closely watched here. The present lis
count rate of the Bank of England is Aigh-
er than at any previous time since 1855