, 1869-07-18
MONETARY and CONNER CllL

SATURDAY FvrSISG, July II.

FfESl41, July
II ts apparent that dcspondent feeling perTades
the tuslncss community IN regard to the prospects
Tor lal bus1nesA The remarkably onfaSoraele
Heathef Of this nominal summer, which hnectB
the cropF, OF course Affects at the same time The
nrrrpect for pront in every branch Of traIes for
the chance that the merchant, the manufactufer.
fhe 1cmuerrosn, and even The banker. have for
dolng legitimate and profitable business depends
at iast utpp whether the fa1mef1 have, money 10
speru. The trade Of last fall Was not sattsfsc-
tory enc, and during this spring ana summer the
country demand for goods haA only been for the
stap.e articles which there Is but ilttle proot
made. Under these circumstances, many
Merchants haze continued b1snesa under
the came rate of expenses that they were year
ago when they had crest expectations Of a Large
crop, good prices for It, and prosperous business
generally. This condition OF things has been Gu
tlused with conp1AeeDcy, In tho hope that the fall
trade this year would be more ptpdtable-a hope,
however, which Is not encouraged BY the lower
Ing weather that uow threatens the c1opa- some
braDehes Of business a1e already beginning To feel
the effect OF the uDlavorable crop prospects. The
lumberneD, particularly, lnd that country dealets
are buying exceedingly Light. md are obliged TO
have credit. This puts lumber dealers here, and
also the manufacturers of lumber, behlndhand,
and obltges them to lean On their bankers. In
monctary point u view, however. there
Is the peculiarly that pertains to nothing else IN
the same degree, VIZ that general anticipation or
extreme pressure for available neans-sucn as
might he expected AZ the result Of an Improbable
business this 1Al-Usually prevents Its own accon-
| piishrcut, because everybody prepares for It,
Money continues to work close, Us much, per-
nsne On account OF the want OF confidence In the
future as OIL account OF AnJ scarctJ OF iun.a All
the regular customers OF banks who furnish satis-
factory cot!stelais, get money without ditncol'y
nt 10 Per cent. Merchants whose capital Is SUM-
Glen, 10 guarantee that the paper will be promptly
met also get accommodations on taelz own names
At the same rate, but the banks are selecting Wild
| gre1t carr, md taEinS unusual precautions 70
| Keep themselves secure, Borrowers who
have 10 get money through brokers IN
| the open mnrset h0yc TO pay from 10 3 per cent
| per month.
There appears to BE- fair supply OF capital tc
| lean On nsst-c!asa real estate ut 10 per cent PEI
anuunl. For loans OF one or Two years. and ot
sums OF from t1,ooo to sl,e0', commission o.
nom TO I.er cent Ii altled, making the net eos
10 the borrower from II to 1eN Per cent OF
| snallet loans and shorter time tho ratea are high
| er On larger amounts ~ per cent u about u
| low ns money can be had.
! The movement OF !uuus to md from the coun
| try does not slow sufficient ptcpondcennce II
either c4ectl. to elect the moucy market 70 hn
Considerable extent. ......
Exchange continues weak, owlos chieny to tn
l kaIkG AA4o1nt VI N"S A>$AA 49, @
le,N cen nankA to-day at s:a to SIC Ier tl.'no dis
| count Al The counter bankers aIc selling Se'
York funds at tro1u par TO Ito premium, aud huy
| Ing nj 1-l0 uleCounl ...
Tue advance IN government hon'ls which too
PLACE I'LL Mouday, iii consequence of the OF
rorEcc.ucnt Of Secretary Bout xel1 that he *oul
| tuy eleven millions motc during july, has tsf
yulls sustained, unu, though the forel1n market
have only PARTIALLY responded, II Is evident tn
they haze hten controlled. to hUrnc extcAt, ty III
| advance In Srw York Tho London quotation II
lur as s2s,, against 81. on Saturday, tho 1ctf
| showing MI asIyaLce u 1Ac In Rola In that iuai
Ert, equal 10 u. IN caETebcs III New YORK IN
au; uure iii the latter nisrIos, however, has hee
| aac IN currency, sloH ing that the iuarkets ha'
not been c4ualtzed. nul thai tue adSAnce hs
nccn n;ore In New 1ork than III foreign mnsset
Dealers quotattnLs iur buying md selling 50
ucut bonds, !ecal stceks, gold md silver, IN III