Nashville union and American. [volume] (Nashville, Tenn.) 1868-1875, 1874-12-16
BANKING.
NASHVILLE MARKETS.
UNION AND AMERICAN OFFICE,

TUESDAY, Dec. Is.
The past commercial week has been the
most interesting in several particulars that
we have had to review since last winter.
Business activity has increased in several
branches of trade and fallen off In none,
having been only suspended to some ex-
tent in cotton.
In dry goods, hardware, boots and shoes,
hats, and the like, there has been no de-
velopment Of special Importance. These
have experienced no improvement, except
possibly in the way of kind Of Christmas
Eve animation. The volume of trade is,
no yever, as we have had occasion hereto
fore TO observe, as large as the merchants
would have it, considering the dangers Of
credit in the present condition of the
country. The cash can almost dictate its
own prices in the jobbing trade.
Till to-day cotton has been on the de-
cline ever since Tuesday. Prices descend
ed spasmodically to very low ebb-one
that must carry Encouragement to the
country, but selling was greatly checked
by our dealers, and not great many bales
have gone at the extreme low rates. The
quotations Of last Tuesday were IL /, 12t,
Is, 1Si, and 1870, against 10l, II, 12t, 49,,
and l3.c. to-day. The market took
slightly better tone to-day. The depres-
sion Of the market was brought about by
the heavy accumulation of stock in
the markets and a falling off in
the demand of spinners. The accumula-
ton, however, was the main cause, and we
think it more the result of favorable
weather for gathering and marketing the
crop and the pressure on the planters for
money, than an indication Of very re-
dundant crop. Hence we are confident of
an early reaction, and advise producers and
their commission merchants to hold with
firm grip. lIt is the best public policy as
well as private, because it will insure the
circulation Of more money at home. We
present, as follows, a summary Of the
past weeks work, compared with that Of
last week: Receipts, $3.50, against 4,121
last week; sales 1,247, against 1919 last
week; shipments 1,742, against 2,4O4 last
week. Ofthe weeks imports, 1,s72 bales
arrived by the Decatur road, 7S1 by the
Chattanooga, GO by the Northwestern, II
by the Lebanon, and 753 by wagon. Stock
on hand to-day 1928 bales; same date last
year, $3.50. Received since Sept. /, q, 49S;
same period last year, 2s,7SS. Shipped
since Sept. l, 1866; same period last year,
25,9Os.
Trade in all kindsSof produce has been
rapidly increasing, and to-day a more
healthy activity could not be desired.
Prices have changed but little.
A very heavy trade has sprung up in
staple groceries, and, in consequence,
cheerfulness holds sway on Market and
Broad streets.
Provisions have undergone no change in
quotations, though decline on bulk meats
is to-day considered imminent. Our pack
ers have busted themselves with slaughter
ing and storing, and, consequently, have a
very handsome supply ready for the market.
COTTON.
The morning dispatch from New York,
stating that there had been an advance on
futures, lifted burden of anxiety from our
holders, and gave the market a compare
lively improved tone, which it maintained
during the day. Each successive report of
the Exchange Committee on Quotations
was "guiet and unchanged" Offerings were
about the same as on yesterday, but sales