Nashville union and American. [volume] (Nashville, Tenn.) 1868-1875, 1873-11-19
LENANCN A..
New York Has a Relapse.
RumOred and Expected Failures
A Shaky Sewing Machine COM
pany.
SfocIkMeII,s sinecure.

StOckweIl's Sinecure.
New YORK, Nov. 1S.-A special state
ment of the condition of the Pacific Mail
Steamship Company, made to the new
board Of directors, shows the receipts from
May l to Oct. /, 1873, to be $3,012 800, and
expenses 81, $50, 500, leaving a balance OF
nearly sixty-two thousand dollars as earn
ings in five months. In this exhibit it is
understood that no allowance is made for
insurance or wear and tear. 1t is said the
recent investigations into the disposition OF
millions earned annually by the company,
showed fraud, corruption and mismanage-
ment and the necessity for a reorganization
of the concern.
Expected Business Failures.
q Inquiries among large number of deal
ers here do not confirm the rumors OF fall
ureS, although suspensions during the next
few weeks would not be surprising. Trade
is bad, and dealers find it difficult to pay
expenses and meet the demands upon
them.
The associated banks hold 81, 72o,OOO
lieaf RENTERS, ( -etecrease se55, 800 since
yesterday.
Another London House I'm Trouble.
LII lllC SbONh tO-Oft1 biiNIC "teo "
marked decrease in the volume Of business
accompanied by lower values and a feeling
of depression. Rumors of trouble at Lon
don were revived and The cable quotations
gave some color to the same. The most
important TTImor was that London bank
ing company on the limited plan was en-
barrassed and that this concern negotiated
sometime since large amount OF bonds for
one of our leading railroads; bills OF eX-
change have been drawn for the great bulk
of these bonds and sold by the banking
firms here. Many of these bills have been
paid, but the runner has it that there is one
million pounds sterling of the same falling
due the latter part of this month. Several
large short contracts were closed up yester-
day and this too has taken away one OF the
sustaining elements of speculation.
Night Reports.
During the afternoon affairs in Wall
street were unsettled, with frequent fluctu-
ations. The London Banking Company
reported in trouble, was the London, Asiat-
ic and European Banking Company, but
their agent here denies the truth of the
rumor.
Gone to Protest.
After the close of business, a defalcatiOn
was reported in National Bank in Broad
way, but on investigation they discovered
that there was no defalcatiOn, although the
Bank has been loaning freely to sewing
machine company, and the paper Of the
same has gone to protest. The Bank has
a capital of 100000 and a surplus of
81, 900. How far the Bank may become
involved is a question of the future. The
Bank is member of the Clearing House.
LATER.-The failure of a prominent
sewing machine company is reported.
The total exports of produce from this
port, for the week ending to-day, amounted
to S7,063, 800 in mixed values, which is an
increase over last week of $626, 124.
The Clearing House Reform Abandon
ed.
The Post says: 1t is now accepted rs a
fact that several banks, including the laTg-
est one not only in this city, but of the en-
tire country, will oppose the report of the
Clearing HOurSe Committee of Nine. The
Mercantile National Bank, corner of Rroad-
way and Dey street, has lost heavily on
loans to one of their customers, but not
enough to affect its solvency.
Another Pittsburg Suspension.
PITTSBURG, Nov. 18.-The National
Trust Company, of this city, suspended
payment to-day. The following notice is
pasted on the door: sin consequence Of the
unexplained absence of our cashier, and the
consequent difficulty of ascertaining the
exact condition of this bank, and the i'm
possibility of Immediately converting the
| securities held by it, the board of directors
have deemed it necessary and proper to
temporarily suspend the transaction Of
business. A full and satisfactory statement
will be prepared and submitted within a
few days to all persons interested. The
| assets of the bank are believed to be amply
sufficient for the payment Of all its liabili-
| ties. The present liability of the stock
holders, however, absolutely secures the
payment, at an early day, of the indebted
ness of the bank. By order of the board.
"ROBT. DICKSON, President
Expanding.
| WASHINGTON, Nov. 1S.-The Outstand-
ing legal tenders are $780,, 524,561.
The Supreme Court of the District of
| Columbia requires personal service on all
absent defendants in the case of the alleged
bankruptcy of Jay Cooke & Co.
LONDON, Nov. 1S.-Fifty thousand
pounds in bullion were shipped from
Southampton for New York, to-day.
A cotton mill near Manchester, burned
to-day; loss 100000.
Failure at Columbus, Ohio.
COLUMBUS, o.. Nov. 49, RodenfelS,
| Seymour & Co.'S. extensive -four mill OpeT-
ators, running one mill at Graveport and
the Chancery Mill near Winchester, made
an assignment to Jas. NJ. Montgomery late
last evening. The assignee gave bond to-
| day in tbp CIIm of S75 600 The assets are