, 1869-07-04
MONETARY AND COMMERCIAL.
MONETARY
I.-prAv FVTNY

SATERDAF EVENING, SaAJ -
Dy tie etAsistics published IN our paper OF Jcs-
lerday II vii be eecn Thai the nlereat And olFl.
deud payments due In Boston On July amounted
to owe. tre1ye million dolasa In New York II Is
probable they amount over 1tty millions, anu IN
New York, Boston and Philadelphia together, tney
probably viii net fall iar short Of tHenty-aTe MILL
Ions IN the aggregate. From these figures It VIII
be seen that rerr large amount ol money Will be
set adoat by the July payments large pfo1or-
s1cn OF the moueJ for these has been unavailable
for some weeks hack, having been held Il
banks with a view 70 the rresant dteburse-
meutx The paving out Of this money,
Together With the DISPOSITION OF the sacrrta1y OF
tie Treasury to relieve q portion Of tire large
AMOUNT OF CURRENCY now held In the Treasury,
must nzke a grea. dtEercnce tn the anoont CT
1oanabEe funds tn AZ the principal markets dur1nc
the coming week, and create an abundance that
will probnhl! coptinue until some ttne In August.
The eject Will be less pe,ceptlble here, however.
than in the EAstcarn markets. because owing TO
the recent movement OF costing capital from the
East 10 the West 10 pay for the grain that was
being marketed, Cur local money market was well
supplied with fCuts, while the Eastern markets
were stringent .
The demand for money here continues fairly &c
rtve, though the hanks are IoAnl1G finely. md Ill
borrowers who furnish satisfactory eouatcrNs get
what they wanE al 10 r"r cent
Nosicf3 were Io5tcQ up Ii GE2ly III u ZIG ts1Ah5
to-day, 10 the eject that ties would be closed On
Monday the 9Th CT Juiy, aud THAI, therefore, paper
falling dae On that day raSst be paid today. 4
n1uber Of the tankers have the impression tia.
whenever any one OF the foGr holays-v1z-,
Christmas, New Years bay, THANKSGIVING Dag, OF
the Il b OF July-tal!s on Sunday, thus celesHag
the ordinary celebration 10 The Monday, that The
succeeding day thus celebrated ts legal holiday
IL accordance with an enactmert Of the Leelsla-
ture. Th!s, however, seems 10 be erroneous Tie
only enactment + haye been able to tnd on tie
subject may be found In Cross Statutes, rase
:6l, where, after clumerating the four hodidays
above mentioned and Sundays as legal holija,s,
rho Law provides, that: "ShouIA two or
moro Of those HOLIDAYS come to-
gcther-or Immediately succeeding each
other-1hen such Instruments paper or indehte,l-
ness shall TX deemed ~ dur, Or hayiEg na:ure'1,
Oh the day previous to the Ef4t Of sad u1yR" The
taw, how ever, seems 10 have made no special pro
vision for such clses as the present. leaving qEes
rionf, touching the payment OF Obligations due on
the DAY celebrated, 10 tie setled according to eon-
merc!n usage. In the present case, the closing OF
the panls on Monday Will be srncsaL shcEefo'c the
usa1e will make the protest OF paper (Which would
mol otherwise Ge due until Monday, tAe 5.h, legal
On saturday. the ~.
Exchange was considerably lower to.tar, acl
sold between tanks HI from - per Sl,ipN' prenl-
um 10 par, At the counter, rstes continue un-
changed, bankers selling at l-I0 premium and buy
ing Ut par TO i-lU discount
The following statement or the business OF The
Clearing House iu- the week en'l!pg July 2,
shows q considerable lucncase over Last week,
therch 1t Is due 10 the settlements incident to
the rr6t Of the month, as business i'll general
seems 10 h. failing OF, Instead Of Increasing: