Nashville union and American. [volume] (Nashville, Tenn.) 1868-1875, 1873-09-26

servative men who are OF opinion that the
associated banks are fully able to hold their
own, and that the back oftbe panic has ct
last been broken.
The Real Riddle.
The Stock Exchange still remains closed
and the common report is that it will not
be re-opened till Monday In any event, and
possibly not then unless there shall be a
marked improvement in the condition of
financial matters. All the clearings this
morning were satisfactorily made. The
committee of the clearing house appointed
to consider the communication made by a
committee Of the Stock Exchange yester-
day, have not taken action in regard to it
but the chairmen of the two committees
had conference on the subject this morn
ing. A prominent bank President said to-
day he believed the banks were working
smoothly and thought 1t doubtful if the
recommendations made by the Stock Ex-
change committee would be adopted.
Dry Goods Undfsturbed.
The views of those prominent in the dry
goods trade are encouraging in the greatest
degree. The business is about as good this
month as it was during the same period
last year and shows hardly any more of
falling off than would properly accompany
the end of the season. A few houses hold
back and merchants do not care to sell ex-
cept to parties of whose stability they are
well assured, but affairs go on in the ordi-
nary grooves very much as usual. A meet
ing of several dry goods men was held at
Clafein's last week at;which they resolved to
stand by each other. 1t was agreed to de-
posit as usual with their banks, an arrange
ment having been effected whereby they
can draw what money they require for
business purposes as heretofore. The ar
rangement has been found to work satisfac-
torily for all parties concerned.
The Produce Market Frustrated.
A general conversation with dealers at
the produce exchange to-day shows the
market for flour, breadstuffs, petroleum and
naval stores remains ina nominal state.
The dealers cannot act intelligently, or
make future contracts while the present
uncertainty continues, and consequently
transactions are limited. The grain trade is
extremely quiet, the absence of market
for commercial exchange checking business
% great extent. On this account dealers
are unable to dispose of their mercnandize
to shippers and the current bas set back to
the West. Large amonnts OF grain arrived
here which were intended for shipment and
now remain. in the warehouses in coDse-
quence of the inability to negotiate foreign
exchange.
The Bonds of 1874.
By anticipating payment of the bonds of
1874 some dealers think the government
would afford means Of relief, las about two
thirds of this class of bonds are held abroad.
Leading grain merchants state that the lock
up of currency has acted upon trade In three
ways: First, il has put stop 20 the NOV
ing of crops in the West and delayed con-
signments on the way; second, it has caus-
ed fall in the prices of breadstuffs in New
York, although not to any very great ex-
tent; third, it has seriously embarrassed ex-
porters from this city to Europe who cannot
sell their exchange on Europe and whose
shipping operations are thus sHmmarily sus-
pended.
The Course Of Banks in Other Cities.
Chicago, Cincinnati, New Orleans
and Philadelphia Adopt
Loan Certificates.
Partial Suspensions and Failures at
Various Points.
Several Southern Cities Embarrassed