Nashville union and American. [volume] (Nashville, Tenn.) 1868-1875, 1873-11-08
FIN ANCEAE.
Ominous Attitude of London,
~ @ England. =
Failures i'm Philadelphia, Pitts
burg, Etc.
The Iron Work of st. Louis Sus-
arass pending. 7rlaclssaaa
Nearly Six Millions of the Re.
serves in Circulation.

LONDON, Nov. THE Directors, of the
Bank of England to-day, fixed the rate OF
| discount at nine per cent. There is great
| depression in stocks on the list, and the
| market is fiat. 81 ffEE4a HH.f
| New YORK, Nov. THE day closed
with a very unsettled feeling. All sorts Of
rumors were afoat regarding the financial
| situation in London, one of which was that
| discounts in the open market were 10 per
cent. Rumors affecting the stability of va
| rious mercantile and financial houses also
aided to give feeling of apprehension.
The Post will publish this evening re-
| port of the Union Trust Company, from
which it appears that the total assets are
$6,317,369 and there is due sdepositors S5,-
229, 165. ----- 49, , ----- = -
The Pennsylvania Monopoly.
Financial writers n.the evening papers
say general feeling of dissatisfaction pre-
walls in regard to the action of the Penn
| sylvania Central railroad company in de-
claring scrip dividend of 5 per cent when
a cash dividend of 8 per cent was expected
and fully warranted by the business of the
company.
PHILADELPHIA, Nov. THE Board of
Directors of the Pennsylvania railroad de-
clared scrip dividend of 5 per centredeem-
able on the 1st of March, 1875, with option
on the part of the company to redeem at
any time after six months. The scrip is
receivable at par for unpaid installments
on stock allotments, which can be turned
into cash at once, as there will be demand
to meet the installment due from the inst,
to the 2Sth of this month.
Tom SCOTS Resignation Respectfully
President Thompson submitted a letter
from Vice President Scott stating that if it
was deemed desirable i'll consequence of
his connection with the Pacific railroad
construction company, his resignation as
First Vice President would be submitted.
The board unanimously resolved that it
was not advisable that there should be any
change in SCOTS relation with the company.
A Dry Goods Failure.
Schepper Brothers, manufacturers of
dress goods, have suspended. 1t is reported
they have ample assets to pay liabilities.
s..s. Blake Bros.
In the case of application of Blake Bros.
for special order of the court protecting
them from loss in the sale of the securities
| they had for money loaned Grinnell d Co.
Judge Blatchford to-day decided no such
special order can be granted, and such sales
must be the risk of the seller, if any are
made. 80 ss-s''-- t.-.
Expansion of S7es,6OO since Yester-
day. tx. ri.
WASHINGTON, Nov. THE Outstand-
ing legal tenders are S361, 707,271.
Bank Failure at Pittsburg. Cd
PITTsBURG, Nov. THE clearinghouse
of Ira B. McVay & Co. closed their doors
this morning, owing to complications grow.
ing out of the suspension of their Eastern
correspondents.
General Suspension Of Iron Works at
st. Louis.
ST. LOUIS, Nov. 1.-Two of the iron
| works in south st. Louis have stopped,
throwing about two hundred men ont of
employment. The Vulcan iron works
stopped two of their three furnaces and
closed their rail mill, discharging about four
hundred men. Other works have also
stopped some of their furnaces or discharg-
edpart of their employees and all have reduc-
ed wages twenty per cent. Many manu-
featuring establishments in the city have
| materially reduced their working force but
| have not cut down wages.
Mills Reducing working Time.
BOSTON, Nov. 7.-Manchester, n. Fl.
print works will do no more printing till
December /. About five hundred people
are thrown out of employment. The mills
have shut down this week, and it is under
stood will run only four days per week
hereafter. The mills of the Great Falls
manufacturing company will be run on
| tree-fouTths time on and after next Mon
day Amesburg wooden mill commenced
yesterday running on halftime. Salisbury
mills are running on three-quarter time.
Merrimac Hat Company Of Salisbury will
shut down tomorrow for the month of No
vember. Owing to reduction of wages a
large number of laborers on the Maine Cen
trail Bridge at Water Valley have quit work,
leaving very few employed at that point.
The Maine Central Railroad has just dis
charged 200 hands. . .