Nashville union and American. [volume] (Nashville, Tenn.) 1868-1875, 1873-11-11
FINANCIAL.
Exceptional Discounts in London
at ID Per Cent!
New York Money Market Easier,
Proposed Reform on Change,

New IOrk money udrhct LstSiSIi
Proposed Reform Oh Change.
Bank Failure at Columbus, o.
LONDON, Nov. Exceptional rates
for advances of ten to thirteen per cent,
and on the street to-day. There are many
rrImors of failures.
New YORK, Nov. 10.-Greenleaf, Nor
ris & Co. have informed the Stock Exchange
that they are ready to pay in full:
whose Iron?
Woodruff Il Robinson, of BROOKLYN, have
been enioined from transferring thirty-five
thousand tons of iron to the Northern Pa
ciic Railroad Co., pending issue of credit
Ors to determine ownership.
Noon Report.
The banks, Notwithstanding the with
drawals of currency Saturday for weekly
payments to laborers, ETC., have gained in
legal tender notes, holding this morning
So, $4,000, with one bank to hear from,
which will probably raise the amount to
wv uOlldhlOs n 1lAOlN
hopeful feeling prevailed in mercantile cir
cles, and in addition to the stock house al
ready noticed as resuming to-day, other
firms Of prominence in banking and Stock
Exchange circles are preparing for early re-
sumption. A failure in trade is reported,
but the name of the house is not made
public.
Night Report.
To-day is the first day for months that
it has been difficult to employ money on
satisfactory collateralS. The Associated
Banks gained $3.50, 900 legal tenders to-day.
There was pretty well-founded rumor
to-day, that the Cashier of Small up town
bank, was defaulter to the amount of
$4,000. The bank does not belong to the
Clearing House Association and no one
will be injured by the alleged defalcatiOn,
outside of the stockholders.
Proposed Reforms.
New YORK, Nov. 10.-Various reform
measures are being discussed by the banks
as to the method of conducting business in
future and the Clearing House committee
will doubtless report upon the matter very
soon. 1t now seems certain that the COM
mittee will declare against the payment of
luItltSI vi OtDOOliS tIlb ellSO tl-eti1loO tiiN
certification of bank checks except where
the money is actually on deposit. The
proposition to compel all railways to make
to the Stock Exchange full monthly state
ments meets with general favor.
What the Safe Deposit Companies
Hold.
1t appears that since the last bank state
ment was published the associated banks
have lost in deposits to the extent of S47,-
100000; in greenbackS S11 100000, and in
gold S2,000,000.
Tea Failure.
The tea firm that failed to-day was But
Ter. Shall & Co., whose transactions, says
the Tribune, generally aggregated million
dollars per annum.
Another Bank DefalcatiOn.
The bank defalcatiOn referred to in a
previous dispatch, proves to be the Security
Bank. No $40 Broadway. Henry d. Torres,
the cashier. has not been seen since a week
ago. He had appropriated $4,000 in
current funds, and. it is alleged, has elOped
with a woman, leaving wife and child in
Brooklyn. An investigation into the af-
fairs Of the bank show the other funds Of
the institution untouched.
At Washington.
WASHINGTON. Nov. 10.-The First Ma
tional Bank is paying thirty cents on the
dollar to dcpOsitors who have proved their
accounts. DepositOrs will receive about
fifty per cent. in all, according to present
indications.
Decidedly Cool.
One of the depositors in the banking
house Of Jay Cooke & Co, in this city,
saws proposition has been made by the
house to pay fifteen per cent. in money and
the remainder in Northern Pacific Railroad
bonds in satisfaction OF creditors.
Expansion of 5000 Since Saturday.
The outstanding legal tenders are S361,-
S3T,SIl.
Jay Cooke d Go.
In the bankruptcy case brought against
JAY Cooke & Co., w. II. Tenny, by his
counsel, to-day entered disclaimer of be
ing a partner in the firm.
A statement without Specifications.
Boston. Nov. 10.-RepOrts from the
manufacturing sections of New England
are more cheering this morning. There is
news of resumption Of business i'll Seve-
raj places, and OF the running of manllfac-
tories on increased time. The exaggerated
character of many of the statements that
have appeared is daily becoming more APP
parent.
Bank Failure at Columbus. Ohio.
COLUMBUS. o., Nov. los. S. Richly.
banker, made an assignment this morning
for the benefit of his creditors, to Gen.
Charles C. Walcutt. His liabilities are
estimated at S125,000; assets, $4,000. At
the beginning of the late financial panic a
run was made on Rickly's bank and it was
necessary to suspend for short time, but
afterwards business was resumed and con-
tinued until this morning, when, owing to
the impossibility of converting securities
into currency, made the assignment neces-
sary. The depositors in this bank are
mostly poor people. The selection of a
person so well known as Gen. Walcutt as
sures the speedy adjudication Of the
troubles. A full statement Of the condition
of the bank viii be made as soon as pos
sibe.