Nashville union and American. [volume] (Nashville, Tenn.) 1868-1875, 1873-10-14
FINANCIAL.

=
York at decline to 17sc for middling.
FINANCIAL.
Cincinnati Resumes Currency Pay
ments.
New York Still Talking About 1t.
Bankruptcy Proceedings Against Dam
iel Drew.
A Wall Street RumOr that Richard
- son is Requested TO Resign.
NEW YORK, Ocs. 13.-Thel failure OF z.
81. Stevens has been announced at the
Stock Exchange.
Bankruptcy Proceedings Against
Daniel Drew.
PapsrS were served today in the suit of
VIM. Scott, of Erie, Pa, against Kenyon,
COY a Co. TIE suit is intended to restrain
Daniel ID ew, q special partner in the trm,
fon disposing OF his property wnlcn IL Is
alleged be is doing in order 10 escape bis
liabilities in his connection with the Cana
da Southern railroad, the bonds of which
were sid TO cause the failure of Kenyon,
Cox & Co.
ResumIng in Certified ChecksI
The National Trust Company resumed
business to-day, paying dePcsitors in GER
titled checks on the Central National Bank,
their clearing house bank. The Union
Trust CombSny has not yet b-gun to pay
depOsitOrs.
StocEs I'm Bankruptcy Let Loose.
Judge Blxtchf I'd to-day modified bis in
junction sufficiently to permit Blake BROS.
& Co. TO sell securities held as collateral for
money loaned to g. Bird Grinnel Co.
This decision may throw on the market
$4,000 registered Lake Shore and Michigan
Southern registered sinking fund bonds.
LATER The Injunction is modified on
condition that Blake Bros. & Co. 6le sworn
statement of sales ia the clerks Office OF the
limited States of The District Court in bank
r1ptcy, TO await such action as an assignee
in bankruptcy may take, providing such as
sienee be appointed TO collect and distribute
the assets OF Grinnell d Co.
The Bnnk Pool.
Alta meeting of the Clearing House As
SOciAtiOu = J6SUlUblOA PeoSO0r " eAO N--SSo
that the time for the redemption of the loan
csrtifi sates, originally fixed at Nov. 1, shall
remain Cd "a. a report was also received
and aaopted in the matter of t Bank of
The Commonwealth, which report confirm
ed the exhibit of affairs OF the bank, as
made bv the Receiver to the LOAN Commit
tee, The bank officers report 10 material
change in the condition Of banks to-day.
The Kansas and Texas Road.
The President Of the Missouri, Kansas
and Texas Railroad, has notified the Sock
Exchange that the company las increased
their slocklo four million four hundred and
sixty Thousand dollars for the newly re-
qaired road.
richardson Requested to Resign.
The Press says It was reported in the
street this afternoon, that Secretary Rich
ardson had either resigned or been request
ed to hand in bis resignation. Columbus
Delano wss mentioned as the probable fu-
ture Secretary.
WASHINGTON, Oct. 13.-The outstand-
ing legal tenders are 1859, O66,Soo.
Cincinnati ON Her Pins.
CECIENATI, Oct. 13.-All our banks
and bankers resumed full currency payment
this morning in accordance with the resolu-
tions of the Clearing House Association
adopted Saturday. Things are moving
along quietly and smoothly and no indics-
tions that ANYTHING unusual in financial
matters had occurred. 90
Cincinnati Leads OF I'm Currency Psy
ments.
This has been the most notable day tnan'
cialiy, the city baslwitnessed in many years
Sinca The action of the banks, suspending
currency payments to limited sums In the
discretion Of the banks and bankers, the
desire TO know when this embargo on the
commerce. of the city was to be removed In
creased from day to day, though there has
been. as far as possible, an adaptation to cir
cumstances, still the pinch on mercantile
classes increased in intensity as the period
of suspension heightened. Merchants
the city have borne the privationS
with great heroism, and generally without
complaint. They mainly have accepted
the situation IS the best that could be done
uuder the circumstances; but there wa
all great anxiety TO have day liked FOL
general resumption, and the announcement
fhat the Clearing House Association, at it
meeting on Saturday evening, hsdsd etermin
ed on full and complete currency resump
ton. was received with the greatest salts
faction, The mere whispering on Chang
on Saturday that the association Wss t.
hold an important meeting at the clos
oftbe dsy was construed into hopeful
indication, and thereby gave tone to tn
general markets that was an improvement
over the preceding day. While
there was great confidence in the soivency
of our banks, there was much interest lei
TO see what developments would be MADE
durine the earlier hours of the opening day
Atthe opening hour every bank and bank
or in the Clearing House Association, II II
number, commenced
FuIu and UnequivOeas Resumption
There was no excitement. There wa
noIrinc about the appearance Of the bsnk
tbst indicated a run. The business OF tn
dsv commenced and continued to tn
cIose with a degree of quiet that was re
markahle. So Ear as known there was no
an interest depcsitOr that drew upon th
hanks. Abe amount drawn By depositor
was probably less than usual on Monday
certainly it did not exceed the usual oe
mands OF the first business day of the Weeh
While this was true,
Deposits of Currency
were liberal and beyond the expectation
of the banks. The larger number OF bank
ers report that they received more curren
CIV than they paid out. One of the Nation
al Banks received in currency, $4,000
more th4n they were called upon to pay
The satisfactory results OF the forenoon
mt q new face on merchants who assem-
had on change. The attendance was large
than it had been for days, and every pei
son seemed to be encouraged.
New Orleans "A Cotton Blockade.
NEW ORLEANS, Oct. 13.--Gold nomina
Currency 465 premium. Sterling, ban
iISAl19; sight l026104 premium. Cot
ton presses having advanced their rates 70
COMPRISING, ship masters and their agent
met and resolved no. to pay the rates &c
rnAnded. A cotton blockade is Imminent
LATER.-The Clearing House Assocls
ton established 2 per cent premium as tn
rate to be collected for exchange Tor ID
present upon bills fsnd notes which ar
made payable with exchange on Ne'
York. ..-.-
British Gold.
81 20 Tho bull;On uitf