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Commercial
October 12, 1862
The Nashville Daily Union
Nashville, Davidson County, Tennessee
What is this article about?
Louisville money market report on October 6: Gold buying at 18-20% premium, selling at 25%; silver at 1-20% premium, buying 10-12%; demand notes at 12-15% premium. Eastern exchange selling at 1.5% premium, buying at 0.5% discount. Staple prices higher, brisk business, but limited grain arrivals due to nearby armies and low river levels after rains.
OCR Quality
95%
Excellent
Full Text
Commercial.
MONEY MARKET.
Louisville, October 6
The buying rate for Gold is firm at 18 @20 per cent premium, the bankers offering to sell at 25 per cent premium. Silver change is held at from 1 to 20 per cent premium, the bankers buying at 10 @12 per cent. Demand notes have appreciated in a ratio corresponding to the rise in the rates upon gold, the bankers buying at 12@15 per cent premium. The postage-stamp currency is circulated in but limited quantities, the bankers not yet having received any considerable sums. The selling rate for Eastern exchange is 1 1/2 per cent prem., the bankers offering to buy at 1/2 per cent dis. Prices of staple articles of trade are generally higher, and the business of the week has been above the ordinary average at higher rates. But small quantities of grain have been received, as the operations of the two armies in this immediate vicinity have rendered it impracticable to send forward much supplies. We have had two or three refreshing rains during the week, and the weather is now cool and pleasant. The river is still so low as to render navigation both difficult but almost impossible.
MONEY MARKET.
Louisville, October 6
The buying rate for Gold is firm at 18 @20 per cent premium, the bankers offering to sell at 25 per cent premium. Silver change is held at from 1 to 20 per cent premium, the bankers buying at 10 @12 per cent. Demand notes have appreciated in a ratio corresponding to the rise in the rates upon gold, the bankers buying at 12@15 per cent premium. The postage-stamp currency is circulated in but limited quantities, the bankers not yet having received any considerable sums. The selling rate for Eastern exchange is 1 1/2 per cent prem., the bankers offering to buy at 1/2 per cent dis. Prices of staple articles of trade are generally higher, and the business of the week has been above the ordinary average at higher rates. But small quantities of grain have been received, as the operations of the two armies in this immediate vicinity have rendered it impracticable to send forward much supplies. We have had two or three refreshing rains during the week, and the weather is now cool and pleasant. The river is still so low as to render navigation both difficult but almost impossible.
What sub-type of article is it?
Banking
Market Condition
Economic
What keywords are associated?
Money Market
Louisville
Gold Premium
Silver Rates
Exchange Rates
Grain Supplies
Low River
Army Operations
What entities or persons were involved?
Bankers
Where did it happen?
Louisville
Commercial Details
Location
Louisville
Event Date
October 6
Commodities
Gold
Silver
Grain
Key Figures
Bankers
Notable Details
- gold buying rate 18-20% premium, selling 25%
- silver buying 10-12% premium
- demand notes buying 12-15% premium
- eastern exchange selling 1.5% premium, buying 0.5% discount
- higher staple prices
- limited grain due to armies
- low river navigation