Nashville union and American. [volume] (Nashville, Tenn.) 1868-1875, 1873-11-20
FINANCIAL.
The Notified Developments of
Yesterday.
A Domestic Afair-AII in the Family,
a la Grant.

A Domestic Afair-AH in the Family,
la Grant.
NEW YORK, Nov. 19.-The announce
ment is made this morning that the cOrpo-
ration to which E. J. Blake, late President
| of the Mercantile Bank, made extensive
| loans was the Domestic Sewing Machine
Company, and that the paper of the COM
pany had gone to protest. A meeting of
! creditors has been called and an extension
| will be asked. Negotiations are said to be
| pending to amalgamate the Domestic with
| another sewing machine company. David
| Blake, brother of Z. j. Blake, is President
| of the Domestic Sewing Machine Company.
| An investigation it is stated, shows the
company has a surplus Of million dollars
over its liabilities, and that the embarrass-
ment was merely owing to the eXtraOrdi-
nary stringency of the money market.
LATER-AS near as could be aScertained
| Eli J. Blake, President of the Mercantile
Bank, loaned the Domestic Sewing Machine
| Co. about $4,000 on the stock of the COM
pSny, business paper taken for machines
and the acceptances of agents; also $4,000
| to himself and various other amounts to
| individuals on mercantile paper, some of
which is unpaid in consequence of the
panic. Among this paper are notes Of a
large dry goods firm which recently got an
| extension.
Bank Statements.
The associate banks hold $50, 900 in
legal tenders, an increase of $l,660,OO0
since yesterday.
Another.
The Clearing House states that the re-
ported decrease of legal tenders 100000,
Yesterday, should have been an increase Of
S430,000 The total amount of greenbacks
held to-day was S30,475,00O.
The steamship Silesia, which arrived to-
day, brings'f114,127 pounds in sOvereigns
and gold bars.
The Spragues ct ais.
The creditors of Hoyt, Sprague & Co.
have appointed a committee to confer with
the firm and report the course to be pur-
sued.
The bank examiner reports the Mercan-
tile bank as safe.
The United States Life Insurance Com
pany, of New York, has not failed.
Reform Hangs Fire.
The Clearing House Committee of nine,
on reform, held a stormy session to-day.
Williams, of the Metropolitan Bank, with
drew from the committee, as his directors
had voted to postpone the subject tor 60
days. One OF two members of the commit
tee objected to some parts OF the report and
showed little weakening, but the bulk of
the committee stand firm. This evening
the opinion prevails that the report will
either be rejected or postponed and that
the banks prefer to keep the management
of their affairs within their own hands.
Tally One.
PHILADELPHIA, Ney. 45.-J. II. Horton,
the bank forger, has been convicted at
Lancaster and sentenced to two years i'm
prisonment. He has restored $4,000 of
the money obtained by his forgeries.
Expansion Yesterday Of S2s3,O0O.
WASHINGTON, Nov. 19.-The Outstand-
ing legal tenders are 1852, ,SO7,611. The
customs receipts for the week ending the
18th, at the following points, were: New
York, 81, ,2S4, 1856: Philadelphia S115, ,153;
Baltimore, S92,041.
LONDON, Noy. ia report is current
that Thomas Barring, founder Of the bank
ing house of Barring Bros, is dead.
One hundred and ninety-fve thousand
dollars in bullion were shipped from Liver
pool for New York to-day,
Death OF Hon. p. Hale.
DOVER, n. H, Nov. 19.-Hon. John P.