davidaulloa/AmericanStories huggingface dataset:
Nashville union and American. [volume] (Nashville, Tenn.) 1868-1875, 1873-11-07
sThe Gold Market.

From the New York Times, Oct. 4.
The falling of the premium on gold yes
terday to point the lowest touched since
the close of the war-particUilarly in imme-
date sequence to an advance in the rate-bf
the Bank of England to very high figure
was the cause ofsome perplexity in finan-
cial circles. The raising of the discount
rate in London was construed as a menace
to the German and the American move
ment of bullion, and consequently led to a
slight speculation at the New York Gold
Board in anticipation of natural and
slight advance in the price. The reversion
to lower price somewhat unsettled the
market, and for a time gave rise to appre-
tensions that some new cause of disturb
ance has appeared. The demand was
ascertained to be purely Specula-
tive, and but slightly larger than it has
been since the government commenced its
payments of coin, anticipating the NOvem-
Der interest. On the other hand orders of
sales appeared, absolute in their character
and based upon the presumed effect of the
advance in the London bank rate to strength
en- the demand. The sellers represented
parties who had become loaded with gold,
by its acceptance for eXportable cOmmodi-
ties and in payment, in some part, of the
large shipments of grain made to Europe
recently; and the offerings included por-
ton of that lately received from Europe.
The several millions which poured into
this market, during the height of the panic,
from London, were employed for the move
ment Of this grain to the markets
abroad, and thus opened the block
ade which became imposed here bv
an utter lack of means among the moneyed
Institutions, upon which the forwarding
merchants had to rely. But the exchange
of gold-an unserviceable medium for cur
rency and demonetized-left nothing less
of burden upon our market; indeed, it
left that which at the time was not so dis
possible for the grain for which it was taken.
1t could not well be carried in the market
here, and it was not Immediately service
able in our foreign trade, since the move
ment was, for the time being, in this direc-
ton. Under these circumstances it, or a
part Of it, was employed among the banks
to make up the requisite sum of legal re-
serve-mOre especially forthe interior banks
but the discontiruance of the pooling ar
rangement among the banks and the ap-
parent large increase in the green
back reserve Of the city institutions,
together with the advance in
gold promised by the new complication of
affairs abroad, made the banks relinquish
the borrowed gold and made the owners
DESTROYS Of conversion to available currency.
The demand for duties and for the protec-
ton of exchanges and other accounts abroad
being almost nothing, the market naturally
gave way upon the least pressure to sell.
1t would be nothing surprising now to see
determination in the price to still low
er point than 1919, but this by no means
affords criterion of the price. The ulti-
mate tendency is, undoubtedly, strongly
upward to high figure, and the movement
will commence Immediately upon the re-
of the note currency to free
circulation.
Nashville union and American. [volume] (Nashville, Tenn.) 1868-1875, 1873-11-07

the utmost caution, in view ofthemonetary
situation. Thus the export demand has
been curtailed, or, if continued, reduced
prices have been insisted upon. Higher
rates of freight, with scarcity of room, has
been something of burden; but it has not
materially limited the shipping business,
for the high rates have caused more ample
room TO be offered. The extraordinary
stagnation in the demand for domestic cot
ton goods for consumption1ias been another
unfavorable influence. 1t existed before,
but was not seriously felt till within Che
past week. Jobbers and retailers have
found their business come almost to'a
standstill, and collections exceedingly diff
cult. The Offering of Spragues' prints at
9ac, without stimulating business, will
illustrate the depression in this branch of
the trade. Cotton goods are indeed astaple
article, and yet they are. not like food-the
purchase Of them can be almost wholly sus-
pended by a community, for a considerable
period without serious inconvenience. And
yet we find our most thoughtful contem-
poraries agreeing with our observations Of
last week that the stoppage of our Eastern
spinners can be for brief period only, and
it is quite probable that when they do APP
pear as free buyers the situation will not be
SO much in favor of purchasers as it now is.
The adverse of the course of the fereign
markets may be prolonged and even inten-
sified by further advance in the bank
rate, but the rebound promises to be equally
strong.
The receipts at the ports are diSappOint-
ing in their smallness. The following will
show the receiptS for the first two months
in six seasons, with the total crop:
Nashville union and American. [volume] (Nashville, Tenn.) 1868-1875, 1873-11-07

at least five acres must be well
cultivated, planted, tended, the
cotton picked, ginned and baled.
Two million extra bales viii occupy five
million acres of generally good land.
1t is not safe to estimate the cost of
raising cotton at less than ten cents
pounds, including the unavoidable con-
sumption of plant food IN the soil, and
some loss by the waste of vegetable
matter, and agricultural salts dissolved
and washed away. Five hundred
pounds of cotton baled in the Clubhouse
fairly costs the owner of the planta-
ton, and all labor connected Herewith,
including bagging, rope, or iron ties,
fifty dollars, and many cost much more
from the failure of the crop and many
other drawbacks. To produce two mil
lion bales too much of cotton is to throw
away one hundred million dollars by
agricultural Encouragement. When
mankind refuse to pay fair price for
any kind of productive industry, it is
the best possible evidence that labor is
more needed in meother employment.
Suppose there was an excess Of nails
and axes manufactured. Instead of
selling them to spectators at half
price, the true policy would be to stop
making nails and axes and hold back
the stock till consumption overlook pro-
duction. 1t is a financial mistake to
force goods of any kind at a sacrifice
ON an unwilling and overstocked mar
ket. Men who abuse the credit system
may have to make great losses to pre-
serve their credit, but the
quicker all men abandon that
folly the better for the public.
Cotton is an excellent crop to raise to
make money out of; but it is safest
when the farm is self-supporting, in
Guiding its owners family, independ-
entity of the staple named. Then the
farmer can handle his cotton tosuit the
dictates of his best Judgment. 1t will
keep much better than corn, wheat, rice
or bacon. Farmers must strike for in.
dependence, and diversity their crops
more to meet all of the diversified wants
of an advanced and still advancing civ
ilization. Corn and cotton are exceed
ingly valuable, but mankind want
something more than corn hoecakes
and mush, cotton slips and hunting
shirts. Progress and improvement or
ruin, are the most obvious facts before
us.
Nashville union and American. [volume] (Nashville, Tenn.) 1868-1875, 1873-11-07
THE STUDY OF COTTON.

There are many reasons why not only
farmers, but business men generally
should study cotton as an element Of
inland and foreign trade, currency and
manufactures, not less than as a great
staple Of Southern agriculture. On
the first of February, 1866, cotton was
worth in New York 40 cents a pound.
In February, 1867, it was worth %
cents; in the same month IN 1868, it
was III cents; in 1869, it was 2S44; in
1870, it was 24S; in 1871, it was 1455; in
1872, it was 2l!; on the first of Febru-
airy of this year, it was 49, cents. AT
this writing cotton is worth in Nash
vile a fraction over twelve cents a
pound. This is just half the average
value Of this staple for the last eight
years in the city Of New York-a state
of things very disheartening to farmers.
We notice from the last deliveries at
different ports and places that over
los. 900 bales went forward in a single
week. This was larger than the re-
ceipts for the corresponding week last
wear. As no one knows how much cot
ton is actually grown in the year 1873,
the impression is decidedly against the
producing class, in whose interest We
write, and for whose benefit we labor;
that if the fifty-two weeks in year
were each to send to market los, 900
bales, the aggregate crop would be
fire million si1 hundred Gad .fftf-Si1
thousand bales. Brother farmers, spec
ulators take advantage of this appar-
ent large crop going forward greatly to
depress the price of your staple to your
injury. There is probably no more cot
ton raised than the world really needs
It is unwise to create the impression
that there is to be a cotton delugc, and
bags of the fiber viii float around loose
obc had as cheap as drift-wood. Hold
your labor, and that part of your sol
which has assumed the shape of cotton
and sell both next veal, in place OF
wearing out your land, stock, plows
grain and provisions, to command tes'
money for four million bales than the
world has often paid you for two mil
lion. Study cotton and see the whole
difference between raising two million
bales at 25 cents a pound, and fom
million bales at l2l cents pound. IL
make two tales of cotton an average o
Nashville union and American. [volume] (Nashville, Tenn.) 1868-1875, 1873-11-07
FARM AND GARDEN.
DITCHING BY STEAM POWER.

In North Germany the extensive low
lands are being reclaimed by the use of
steam ditching machines, each of which
cuts a canal 20 feet wide and 6 feet
wide, and from 100 to 100 feet long
every len hours. The peat thus exca-
waited !. Co; ,ered on the surface of the
ground alongside the canal, where it is
dried, cut into bricks and sent to mar
ket. IL makes an excellent fuel. The
South has vast area Of low, swamp
land that will be drained and:cultivated
in few generations to come. The
Okefenoke swamp alone has half mil
lion acres, and Florida and Louisiana
are perhaps one-third wet ground, if
not subject to inundation. We should
like to see Il steam machine at work ca
pable of excavating 20 feet wide and six
deep at the rate Of 100 feet every ten
hours. In Holland, farmers take their
grain, hay, turnips and cabbages from
their fields to their barns in boats.
They are fixing to do the same in North
Germany. Irrigation will yet be cheap,
and e. ~ aere available, if it ever
rains.
Nashville union and American. [volume] (Nashville, Tenn.) 1868-1875, 1873-11-07
GENERAL MARKETS.
Stock on hand.

We are indebted to McAlister & Wheless,
Commission merchants, corner Broad and
College streets, for the following cotton
quotations in New York and Liverpool
during the day:
LIVERPOOL, Nov. g. 1:0O.-Cotton fiat
and irregular. Middling uplands S36Ssd;
middling Orleans S569d. Sales to-day TO-
600 bales, OF which 1000 bales are for ex-
port and speculation. Arrivals 1-16d lower
LIVERPOOL, Nov. 6, -Cotton-NO-
vember and December shipments on the
basis of good ordinary Lid; December
and January delivery do. Sd; November
shipments on the basis of good ordinary Sd.
LIVERPOOL, Nov. G, 3:00.-COtton I'M
changed. Middling uplands SI6Ssd; mid
ding Orleans Ss69d. Sales to-day 10000
bales, of which 1000 bales are for export
and speculation. Sales of American 5,400
bales.
LIVERPOOL, Nov. 6, 3:2O.-Cotton-
Middling uplands SD; middling Orleans
Cd; middling uplands, official SD; mid
din Orleans, official S5G9d.
New YORK, Nov. 9, 10:1O.-Cotton-
Futures heavy. November delivery 1344c;;
December IS 5-16c; January 13s613 7-16c;
February 1870; March l4c.
NEW YORK, Nov. 6, 10:20.-Cotton-
Futures depressed. November delivery
1916; December IL 3-16c; January Is SIG
6155c; February 139-16013sc; March 13s
014c; April II 1-16G14 Slice Sales $500
bales; exports to the continent 700 bales.
New YORK, Nov. 6, 1O:30-Cotton-
Ordinary 12c; good ordinary 12sc; strict
good ordinary 13c; low middling 1910;
Nashville union and American. [volume] (Nashville, Tenn.) 1868-1875, 1873-11-07

1t will be observed that the decline from
the opening on Monday last, to the lowest
prices of Wednesday, was much more severe
for the early months, and that as the season
advanced the market showed steadineSs.
This may be attributed to influences at
work which are expected to be compare
lively transient in their character and
whose disappearance is looked for with the
arrival of the later months. The first and
most conspicuous of these, though not in
itself of the greatest Importance, has been
the stoppage, wholly or in part, or nearly
all the cotton machinery of the country.
The consumption of the Northern and
Eastern mills is about 100000 bales per
week, and as has been already said, the
New England spinners have been in the
habit of purchasing ahead of their
wants at this season OF the year
accommodating stocks so that at the
commencement of the calendar wear
they have been accustomed to have liberal
supply on hand. The withdrawal of so
large a demand was a serious matter at a
period when the receipts had begun to be
larger, and receivers were under an especial
need of seeing. \ second fact, adverse to
cotton for early delivery, has been the dull
ness and depression at Liverpool. The
position of that market is not adverse to
the maintenance Of the prices of cotton, but
the advance Of rate Of discount by the Bank
Of England TO S per cent is a serious mat
ter, not only there, but at Manchester, and
causes buyers of cotton goods, as well as
manufacturers OF cotton, to proceed with
Nashville union and American. [volume] (Nashville, Tenn.) 1868-1875, 1873-11-07
EFFECT OF FODDER ON HORNED
CATTLE.
We find the following paragraph cop
led into one of our exchanges:

We find the following paragraph cop
led into one of our exchanges:
Herr Nessler, the well-known Ger
man scientist. has recently made some
curious Investigations into the manner
in which different kinds Of fodder affect
the bones of horned cattle. From anal
ysis of the fodder and water consumed
by cattle affected with brittleness of
the bones, he finds that disease Is linz
tied to granite soils, to the junction of
granite and gneiss and to Bunter sand
stone-that is to say, that these soils
affect the quality of the grass grown on
them to the detriment of their availa-
bility for grazing"
This matter is so well understood IN
the Eastern States that farmers keep
ing dairy cows on granite and sandy
soils feed bone meal to their stock, es-
pecially to young animals and those
giving milk, that the known lack of
bone material in grass grown on poor
soils, may be compensated. Cows try
ing to eat bones first suggested this re-
markable addition TO their regular feed.
No animal can form bone Of any sort in
its body without bone-earth in its food.
Diseases of the bones in man and beast
are not uncommon, nor sufficiently I'M
darStoOd
Nashville union and American. [volume] (Nashville, Tenn.) 1868-1875, 1873-11-07

middling 1890; Alabama 1870; Orleans 14c.
Market weak and unsettled. 49,
NEW YORK, Nov. 6, 12:55-Cotton-
Oruihary: l25c; good ordinary 1870; strict
good ordinary 1890; low middling 1890;
middiing l35c; Alabama 14c; Orleans 14aac.
Market nominal. Futures firmer. Sales
Tor exports 120 bales; for consumption IS
paies; TOR speculation 81 bales; for future
delivery 1890 bales; last evening for ex-
port 362 bales, foI consumption 125 bales.
November delivery 13nN13 Lice; Decem-
per I5ge; january 1908 5-16c; February
l3ac; March 132c.
NEW YORK, Nov. 6, 1:3O.-Cotton-
Futures easy. November delivery 10 Lice;
december 135c; January 1910; February
13ac. Sales 1920 bales.
NEW YORK, Nov. 6, 2:05.-Cotton-
Ordinary he; good ordinary 1870; strict
good ordinary 13c; low middling 13Ic:
mlddling 1890; Alabama 1890; Orleans 14c.
Market weak. Sales on spot unimportant.
New YORK, Nov. IS, 2:25.-Cotton-
Futures steady. November delivery IS l.
loo; December 1870; January Is 5-16c;
February 13 9-16c; March 13S613 slice;
April IA Lice. Sales 10000 bales.
NEW YORK, Nov. q, 2:55.-COtton-
Market irregular. Sales for exports 327
bales; for consumption 676 bales; for spec
ulation II bales; in transit 80 bales.
NEW YORK, Nov. 6, 3:15.-Cotton-
Ordinary 1l5c; good ordinary 12sc; strict
good ordinary 1870; low middling 1910;
mlddling 1890; Alabama 1870; Orleans 13H.
Market irregular.
NEW YORK, Nov. 6, 3:30.-CottOn-
Futures quiet and steady. November de-
livery 135613 3-16c; December 131n134c;;
January ID 5-16613Sc; February 1890
u ll-l6c; March 14614bc; April 141t0
145c. Sales 22,200 bales.
NEW YORK, Nov. 6.-Net receipts 49,
l56 bales; exports to Great Britain 39,404
bales; to the continent 1O,731 bales; stock
29S,0S3 bales. ~
Nashville union and American. [volume] (Nashville, Tenn.) 1868-1875, 1873-11-07
MARKETS BY TELEGRAPH.
The Cotton Markets.

LIVERPOOL, Nov. O. Cotton fiat and
irregular; middling uplands SD; middling
Orleans DC. Sales 10000 bales; American
5,400 bales; speculation and exports 2,OOO
bales. Sales of uplands on basis Of good
ordinary shipped October and November
Sd; do. November and December 1-16d;
shipped December and January Sd; on
basis of low middling deliverable Decem-
Der s I'd.
New YORK, Nov. Cotton in better
demand and lower; middlipg uplands 1880.
Futures closed easy; sales OF 24,6OO bales
as follows: November Is 3-1Gc; December
Is Ice; January 1886; February l3Sc;
March 14c; April IA 3.l6.
New ORLEANS, Nov. Cotton demand
active; sales ), $50 bales: good ordinary to
strict good ordinary 122a13tc; low middling
to strict low middling 13Ra14c; middling
to good middlings 141a15sc. Receipts a,
COL bales; no exports; stock 1910 bales.
MEMPHIS, Nov. -Cotton-receipts to-
day 1915 bales, to date 64,214 bales; ship
ments to-day 2,411 bales, to date 1885
bales; stock to-day 27,S24 bales; sales to-
day 1900 bales; market exceedingly dull
closing at 12ic for middling.
CINCINNATI, Nov. Cotton dull and
prices lower; 13c for middlings.
LOUISVILLE, Nov Cotton dull and
lower; low middlings 13c.
ST. LOUIS, Nov. Cotton dull and
prices are lower; low middlings 1244c; mid
lings 124c. r
Nashville union and American. [volume] (Nashville, Tenn.) 1868-1875, 1873-11-07
ILLICIT RISTIILERS.

From the Knoxville Press and Herald, Nov. g.
A few days since, two deputy United
States Marshals, respectively named
Duff and Clingan, made a raid on lille
it distillers in McMinn county, Tenn,
capturing zone wagon, two prisoners,
and three barrels of whisky" While
taking the prisoners from the scene of
capture to Riceville, they were attacked
by party of six of the Illicit distillers
of that region, led by noted chief of
the stills, named Loudermilk. The mar
ative continues:
''Their driver fed and the team broke
loose and ran, leaving Loudermilk mas
ter of the situation. Capt. Duff was
wounded in the fight, but not seriously.
They, however, held their prisoners,
whose names | do not remember. Par
ties living near the scene of action, say
about sixty or eighty shots were fired.
1t is proper here to state that the ad-
vantages were all on the side of the
whisky men, they being two to one,
and having long-range guns, while
Capt. Duff and Clingan had pistols"
rs civilization failure?"
Nashville union and American. [volume] (Nashville, Tenn.) 1868-1875, 1873-11-07
LEGAL NOTICES.
mo. 1901
Ina C7sanceTy at .TiGsItCtSSe.


CyTATE OF TENNESSEE, OFFICE CLERK
- and Master ChanceTy Court, N9snVliie,
Sept mber the 10th, lSI3.-Aitrsq ": MeIrlt1,
complainant, vs.. The Nashville Buliolng Asso-
citation and others, defendants
1t appearing from affidavit fled IN TINS cause
that the defendant, Lewis Lyons Is non-resi-
dent OF the State of Tennessee, so that ths efol-
airy process OF law cannot be served upon lib5
and it further appearing that an attachment has
issued in this case, and has been returned levlsd
upon the following property, VIZ: Inc lndeOt-
edness of G. W. Nance to the NASHVILLE y u1lding
Association, evidenced by the three notes Of said
Nance dated - day Of May, 1863, and dus IN
8, and months from date, and also 70 attaeh
the Indebtedness Of Lewis Lyons TO sad assoc
alton, and further to attach the etate and m
terest of Lewis Lyons in the following real eS-
tate mortgaged BY him to said Association, viz;
First. A lot in Edgehsld, Davidson county,
Tenn, fronting 50 feet on Bell street and run
ming back 1874 feet to HOustOn's lot Also another
lot in Edgefeld. fronting 100 feet on Spring
street, and running back 14S feet. more partIeu-
larly described in a mortgage from said Lyons
and j. G.. Ferguson to said Association, regis
tered in the 4. D. ID. c., book 20 page iSO. Sec
ond. A tract of five acres, more or less, m sald
county, fronting on the north slde Of the Shar-
lOtte turnpike. Third Another tract II five
acres, more or less, adjoining the above, former
~ belonging TO NJ. Powers, hnOre particular
description Of which said two tracts OF land Is
contained in the mortgage from said LYONS %
said Association, registered in said Office in book
No. %, p. 2Ol-tO the end that the same may 90
held for the satisfaction of cOmplainants claim
of S50l besides interest andcOsts IL IS therefore
ordered that said defendant enter his appear
ance herein on or before the fourth Monday
of the next term of said court, to be neld
on the first Monday in October next (1S7Sl,
and plead. answer Or emur to cOmplainant's
bill, or the same will be taken for confessed as
to him and set for hearing exparte, and that q
COPY of this order be published for four consecu-
tive weeks in the Nashville Union and American.
A copy-Attest: -
NATHANIEL BAXTER, JR-,
Clerk and Master.
A. @. Merritt, Solicitor for Complainant.
sepIT oaw4w
Nashville union and American. [volume] (Nashville, Tenn.) 1868-1875, 1873-11-07
Nashville Produce Market,

CHEsTNUTs-We quote at $3.50 per
bushel.
PEANUTs-Market quiet. We quote at
50 per bushel from wagon.
EGGs-We quote at 1S620c per dozen
from wagon.
DRIED FRUIT-We quote &c for apples
and quarter peaches, and Sc for half peaches.
POTAToEs-M Market active to-day, with
sales from wag 1t S20062.25 per barrel.
FEATHERs-AI.uSct dull at J0G5jc.
BEEswAX-We quote at pc, and market
dull.
RAGs-We quote at Sc.
GINsENG-We quote at 90c.
WOoI.-We quote 20625c for unwashed,
and 3363Tc for washed. The market is
very dull, and prices entirely nominal.
BROOM CoRN-MarSet active at 3N7c.
HAY-We quote at $lSd25 per ton, ac-
cOrding to quality.
PoULTRY-Spring chickens command Is
61Sc.
BUTTER-Market stiff, with sales of good
country at SOC.
Nashville union and American. [volume] (Nashville, Tenn.) 1868-1875, 1873-11-07
Original Attachment.

State of Tennessee, Davidson COunty-W. W.
Goodwin Va. H. Pennington & Snider-
IN THIS CAUSE, IT APPEARING BY AZ
| fidavit that the defendants, II. Pennington
& Snider, are justly indebted to the plaintiff,
W. ". Goodwin, $685., past due by account
and unpaid, and the said defendants, II.
Pennington & Snider have removed them
selves from the State of Tennessee, so that
the ordinary process of law cannot be served
on them, and the original attachment hay-
ing been levied upon one egg packer and
apparatus as the property of the defendants, II.
P gnningtOn s. Snid T, also thirteen bales of
straw: it is therefore ordered by the Court
that publication be made in the Union and
American, newspaper published in the city OF
Nashville, for four consecutive weeks, requiring
the said b. Pennington q Snider to appear at
my office, in the city of Nashville, on the 2Sth
day of october next, at 10 O'CLOCK A. Il, then
and there TO answer, plead or demur 20 said
attachment, or the same will be proceeded with
ex paTte.
Given under my hand this 25th day of Septem-
Der, 1873 JAS. EVERETT,
sep27 law At Justice OF the Peace.