, 1869-07-05
MONETARY AND COMMERCIAL
MONETARY,


/ dA3CRDAf EFEKNG, July J.
Ry the Statistics published In our paper of yea-
te.day It will be seen th&t the interest and dtyt-
dtnd PAL nenls due In uDston on Ju1J amounted
to orer twelve million dollars In New York 1t Is
Prtlatle thry ano,nt 10 over dIty Ml1tIons and In
New YpEk. 1sOutLl and Philadelphia together they
probably Will not fall far short Of fseyeaty-nre mill
Fl.s In he aggregate. From these 18urrs It vii
* fe"7 that seEy iargc amount Ut money viii be
-ti haoat bY ihe July payments. L large prppor-
tlon OF the money for these has been unavailable
for some weeks hack. having been held IN
hanks with Il view to the present disbu,ac-
EiCuts. Tit pRtsnR out Of tals moncy.
together with the disposition OF the Secretary Of
the Treasury to reltase H. portion OF the large
amount OF cu1reuc, held in the Treasury,
must make great difference IN the amount Of
fcaDab'e fnnds in all the principal markets dunnR
the coming meek, and Create An abundance that
viii probably continue until some TIME La August
The eject will be less pctcept1ole here, however,.
than IN the Eastern HA1kets, because, owing to
the recent Enovenen, Of floating capital from the
Eat to the West to pay 10. the grain that waa
being mark+tcd our local money market was well
supplied with FUNDS, while the Eastern markets
were stringent
The demand for money here continues fairly ac-
tive, though the banks arr loan1ug freely, and all
BORROWERS who furnish satisfactory colaterals ret
what theJ want ut ~ pcr cent
Notices were posted up In nearly all ol the banks
to-day. to the ercc1 That they mould be closed on
MondAE. the 9Th 0f July, and hal, therefore, paper
FILLING due on stat day must be paid to-dar. A
numt,er ri the bankers hare the lrlrre ssioa tha.
nbeneEer any one OF the four hoitdayB-rfz.
Christmas, New Years bay, Thanksgiving Day, or
the :th Of Julg-fails on Sunday, TINS dcfeET1ng
the ordinary celebration to Manday, that tho
succeeding day thus celebrated Is legal holiday
10 aceoTdailcr ith an enactment Of the Leusta-
tuFc. This, however. secIns 10 bc efrpntous The
unly enactment we hive feen atle to Ind on the
aslt,ject may be found IN Grosa's Statutes, page
sci, Where, utter enumeEdungthe four holdldays
above MeutEuuel aud Sundays ii legal holidays,
the Law provides, that; ''5hould two or
l4oEe of those lotldI5s cume to-
rt'tht.-oE Immediately succeeding each
uthe.-:hen such instruments, paper Or 'adebted-
htss- sEa1l bc detnEd ~ dur, Ut having matutssI,
tn the day previous u the j. t Of said da5s." The
law, however, seems to harc made no special pro-
vision FIR eucf easea IS tie preaeni, leaving gues-
ttout, touching the p4s mens Of obligation. dur on
The ua3 ctEthLatct to Le settled according To com-
merc!sl usage. Ii tue present cAse, the cosiug OF
tie hanks Monday wilt br general. therefore The
age will make tic protest OF paper (Which would
tn saturday, the sa-
E2chappc was consideraol5 lower 10 dAr, and
su1d s,etwsen hanks Ut from 20 per *i,sU prern1-
un to par. At the counter, rsses continue un-
changed. hanke1H selling u LILO premium aud buy
ing Vi far to l-lu discount
The following statement Of the business Of the
tIE2HnK House for the "etE ending july 3,
-LuH4 considerable increase uYer last week,
htLhh 1t Il due To THE setticncnts incdeut 10
-he IEEt Of The month. as BUSINESS In general
-ttlrs to t,t. Iallllg od. instead Of Increasing: