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activity in the miscellaneous list, especially in Boston Water Power and Canton, both of which are under clique manipulation. The following are the closing quotations for leading stocks, compared with those of previous weeks:

45 53 53

April 20. April 27. May 4. May 11.
Camberland Coal..

45
41%

45 Quicksilver

55%

55% Canton Co...

57%

59 Mariposa pref..

23%

25% New York Central.

92% 93

92% 92% Erie

72%
73%4 73%

73% Hudson River

108%

110% 110% 109% Reading...

103
105

107% Michigau Sonthern

81%
82%

78% Michigan Central.

103% 107% Cleveland and Pittsburg.

82% 82

83% Cleveland and Toledo.... xd.101% 104% 1044 101% Northwestern

27

29

28% preferred.. 56%

59 61% 58% Rock Island

120

123 123% xd.94% Fort Wayne

96
98
100

99 Illinois Central

114% 122 121% 122

107% 78%

May 18. May 25. May 31.

45% 54% 52% 52% 61% 57%

60 23%

24% 94% 94% 98

684 60% 111%

113% 113% 107% 110%

109% 80

108 86

84% 105

104% 29%

28% 59 58

58% 93%

93

96% 47% 12074 118

118%

79%

80%

80%

107

86%

29%

28%

98%

The imports of foreign dry goods at this port for May show, as we stated would be the case, a still furthei decrease compared with the previous months of 1866 and the last half of 1865, and yet the total entered at the port is larger than for the same period of either of the previous three years. The whole value landed here during the last four weeks was $6,687,738 of which $4 346,822 went directly into consumption and $2,340,916 went into warehouse. There was also withdrawn from the warehouse during the same period $2,098,963, making a tatal thrown on the market in May of $6,445,785. Below we give the figures for the month :

IMPORTS OF FOREIGN DRY GOODS AT NEW YOEK FOR THE MONTH OF MAY.

Manufactures of wool do

cotton.. do

silk. do

flax Miscellaneous dry goods.. Total entered for consumption

ENTERED FOR CONSUMPTION.

1863. 1864,
$652,927 $891,927

160,199 371,889
700,511 906,379
432,029 687,485
156,604

247,642 $2,102,270 $3,105, 322

1865.

1866. $865,699 $1,325,970 309,057 869,475 819 920 887,601 520,930 908,052

151,863 355, 724 $2,667,469 $4,346,822

do

WITHDRAWN FROM WAREHOUSE. Manufactures of wool....

1863. 1864.

1865.

1866. do

$519,076 $1,429,166 $1,415,065 cotton.

868,246 144.960 silk.

460,843 585,591 399 883 do

412,641 flax.

508,708 590,118 458,345 Miscellaneous dry goods...

178,257 489,680 944,227 298,898

73,307 140,231 163,799 73,991 Total withd'n from warehouse.. Add entered for consumption..

$1,328,141 $3,028,623 $3,698,800 $2,093,963 2,102.270 3,105, 322

2,667,469 4,346,822 Total thrown on the market...

$3,430,411 $6,183,950 $6,366,269 $6,445,785

ENTERED FOR WAREHOUSING. Manafactures of wool....

1868. 1864.

1865.

1866. do

$538,930 $1,299,462 $651,74) $834,206 cotton. do silk. 316,834 802, 465

311,359

138,914 do

208,285 674,934

651,961 fiax

118,314 Miscellaneous dry goods..

369,733 642,794

272,814

456,350 76,459 56,159

61,187

87,040 Total ent. for warehousing. Add ent, for consamption....

$1,510,241 $2,975,814 $1,245,999 $2,340,916 2,102,270 3,105,322

2,667,469

4,316,822 Total entered at the port.....

$3,612,511 $6,081,136 $3,913,468 $6,687,738

If now we add these figures to those for the previous months of the year, we will find that the imports are still largely in excess of any of the previous years we give. The following will show the comparative imports since Jan. 1 :

IMPORTS OF FOREIGN DRY GOODS AT NEW YORK FOR FIVE MONTHS FROM

JANUARY 1.

ENTERED FOR CONSUMPTION.
1863. 1864.

1865. 1866. Manufactures of wool.

$7,514,069 $12,951,782 $4,779,320 $14,241,528 do cotton.

2,672,363 4,156,135 1,762,516 8.753, 752 do silk

4,933,992 8,311 454 2,977,667 9,2.1,964 do flax.

3,52 ,772 4,690,970 2,496,810 6,885,851 Miscellaneous dry goods.

1,279,554 2,074,394 798,470

3,547,745 Total ent, for consumption........

$19,323,750 $32,184,765 $12,814,813 $42,650,840

WITHDRAWN FROM WAREHOUSE,

silk...

Manufactures of wool..
do

cotton
do
do

flax
Miscellaneous dry goods..
Total withdr'wn from wareh'e..
Add entered for consumption..
Total thrown on the market........

1863.
1864.
1865.

1866.
$1,770,639 $4,223,418 $3,785,284 $6.713,625

708,699 1.652,524 1,956,740 3,685,728 1,322,986 2,126,372 1,934,705 3,324,143

673,107 1,856,893 2,473,611 2,399,348

227,571 871,056 505,341 565,023 $4,703,002 $10,230,263 $10,655,681 $16,687,887

19,323,750 32, 184,765 12,814,813 42,650,840 $24,026,752 $42,415,028 $23,470,494 $59,338, 727

ENTERED FOR WAREHOUSING.

do

1863. 1864.

1865.

1866. Manufactures of wool...

$3,118,939 $4,3611,485 $2,522,689 $8,672,545 do cotton

1,627,032 1,094,609 1,130,877 3,350,862 do silk.. 1,660,978 2,010,675 8.25,588

2,015, 120 flax..

1,537,538 1,614,007 1,584,826 3,052,201 Miscellaneous dry goods..

3:29,900 293,735 303,305 632,527 Total entered warehouse

$8,174,387 $9,373,511 $6,367,285 $17,723, 255 Add entered for consumption.

19,323,750 32,184,765 12,814,813 42,650,810 Total entered at the port ...

$27,498,137 $41,558,276 $19,182,098 $60,374,095 From the foregoing it appears that the total values of dry goods landed here since January 1st is $60,374,095, or more than three times the total for the same period of 1865. If now we compare the figures from the beginning of the fiscal year Joiy 1st we will find that thc imports for the eleven months of 1865-66, are still very largely in excess of previous years. Below we give the total imports of foreign dry goods at this port for the first eleven months of each fiscal year beginning with July 1, 1855 :

IMPORTS OF FOREIGN DRY GOODS AT NEW YORK FOR ELEVEN MONTHS FROM JULY 18T.

Year.

Year. 1855-56.. 1856-57 1857-58. 1858-59....

Value. Year.
$80,723,4321859-60.

88,964,962 1860-61
64,517,058 | 1861 62.
85,834,046 1862-63.

Value.
102,308,163 1863-64.
82, 104,9 3 1 1864-65.
84,620,618 | 1865-66..
59,061,614

Value. $78,133,263

44,411,871 128,689,027

We thus see that the total for the eleven months of this year now amounts to $128,689,027; and as there is another month to complete the fiscal year, the total for the year will probably reach $135,000,000. From these figures it must be evident that a high or low tariff does not regulate the value of our imports.

Gold has been very active during the month on account of the large demand for shipment. The following is a statement of the Treasure movement at New York weekly since January 1, up to the close of May:

TREASURE MOVEMENT FOR 1866.

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16 24.

1866.
Receipts. Exports.

Sub-Treasury

In banks week

from to foreign Customs Interest -Gold Certificates, at close ending

California, countries. receipts. payments. issued. returned. of week. Jan. 6.

$552,027 $2,107,341 $3,597,240 $3,122,440 $1,34,8832 $15,778,741 13.

$685,610 610,503 2,334,694 1,130,789 3,206,180 1,578,194 16,852,568 799,706 685,894 2,754,369 574,162 2,706,409 1,928,641 15,265,872

656,812 3,226,040 279,842 2,593,400 2,137,018 13,106,759 Feb. 3.

944,878 292,568 3'317,422 115,204 2,081,280 2,221,423 10.937,474 10.

1,449,074 413,409 3,251,734 120.179 1,916,700 2,376,735 10,129, 806 " 17.

445,489 2,893,008 91,828 2.992,900 2,158,009 10,308,758

1,209,018 560,193 2,608,795 119,79 5,893,230 1.995,796 14,2!3,351 Mar. 3..

75,453 3,386,934 1,183,313 2,125,000 2,664,934 17,191,130 1,469,286 556,284 2,297,836 882,712 2,101,000 1,706,835 16,563 237 1,425,353 236,671 2,461,482 329,593 1,498,400 1,919,483 15,015, 242 389,837 170,297 2,509,419 174,911 361,280 1,886,419 13,945,651

673,615 3,500 2,451,315 225,414 1,376,000 1,895,334 11.930,2012 Apr. 7..

216,842 2,563 010 63.140 3,016,810 2,120,100 11.436,295 729,8152 122,628 2,857,704 49,800 5,038,460 2.271,704 11,035,129 809,459 117,312 2.535,568 35,169 4,309,000 1,971,568 9,495,463 73,880 2,216,307 49,506

4,137,140 1,760,307 8,2 13,937 May 5.

1,318,271 1,247, 249 2,711,181 7,061,900 4,659,000 2,227,181 10,914,997 "12..

1,072,820 1,064,496 2,417,391 2,648,000 3,110,000 1,913,391 13,970,402 19.

8,763, 293 2,512,814 1,702,000 2,842,00 2,069,814 13,595,465 26

1,276,605 9,421,766 2,358,455 940,100 9,177,000 1,929,454 19,376,929 Since Jan 1........ $14,254,521 26,565,431 56,165, 850 21,367,711 68,158,70 42,114,112 $..

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16 14.. .. 21.. " 23.

1865.

1863.

The following exhibits the amount of treasure esported from New York to foreign countries from January 1 to the last Saturday in May for fifteen years : 1866. $26,565,431 | 1861.

$3,005,196 | 1856.

$11,130,080 11,716,932 1860 12,360,832 1855..

13,889,374 1864. 22, 281,600 | 1859 25,684,544 | 1854.

12,925.758 19,248, 210 | 1858. 11,785,217 | 1853.

7,034 846 1862 18,108,737 | 1857. 18,021,607 | 1852.

10,518,262 From the above it will be seen that the exports of Treasure for the month have reached over twenty three millions of dollars. This supply came in great part from the sales of the Assistant Treasure at New York. In sympathy wich this new demand gold has risen during the month, and closed at 1401. Below we give the course of gold for the month :

COURSE OF GOLD FOR MAY.

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[graphic]

264

Tuesday: Wednesday Thursday Friday. Saturday Sunday, Monday. Tuesday: Wednesday Thursduy.. Friday Saturday Sunday Monday Tuesday: Wednesday. Thursday.. Friday. Saiurday .

1 125% 127 1254 126%4 Sunday..
2 1267 128% 126% 1277 Monday
3128% 129% 127% 127%|Tuesday.
411274 127% 127% 127% Wednesday.
51274 127% 127% 127 Thursday.
6

Friday
7127 12874 12764 128%|Saturday.
8 1284 1294 1284 1294 Sunday.
9 129% 12932 128% 128% Monday
10 128 129 128% 1294 Tuesday:
.11 129% 129% 129 129% Wednesday.
.12 12974 1294 128% 123% Thursday.
13
14 130 130 130 130 May,

1866.
. 15.130% 130% 129% 129%

1865 .16130% 130% 180

130%

1864. .17 130 130% 129% 129%

1863 18 129% 130% 129 130%

1862 .19 130% 130% 130 (130%

1861.

20 21 130% 132% 130% 132% 22,1304 1344 130% 133% 23 133% 13834 133 136% .24 139 139% 137% 139% 251414 141 % 139% 139% 26 139% 139% 138 138 27 28 187% 137% 137 137% 29 137% 138% 137% 137% .80 138% 138% 188 138% .31 138% 14044 189 140%

125% 141% 125% 140% 145% 115% 12872 187 177 190 168 190 151

15474 143% 145 102% 101% 102% 103% 100 100 100 100

The following table shows the daily fluctuations of exchange (long) on London, Paris, Amsterdam, Bremen, Hamburg, and Berlin at New York for May, 1866:

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COURSE OF EXCHANGE FOR MAY. London. Paris. Amsterdam. Bremen, Hamburg. Berlin. cents for centimes cents for cents for cents for cents for 54 pence. for dollar, florin. rix daler. M. banco. thaler, 108%@ 109% 520 @515 41 @41% 78%@79% 36 @36% 71 @1X 109% 109% 518% 515 40%941% 78% 79% 36 36% 71% 72% .109% 109% 617% 0515 41 41% 78% 79 36% 36% 71%@72%

109% 109% (17% 0515 41 414 78%@79 36% 36% 71%@72% .109%@109% 517% @515 41 414 78%@79 36% 36% 71%@

72% .1094@109% 5164@513% 41 41% 78%@79% 36%@36% 71%@724 .109% 109% 518%©513% 41 @41% 79 79% 36%C36% 72

072% .109x109% 615 6512% 417 41% 79%@79% 36X36% 72%@

72% .109% @ 109% 515 512% 41% 11% 79% 79% 36% 36% 72%72% 109x109% 515 (512% 414 41% 79% 79% 36% 0.36% 72% .109x109% 516%C513% 414641% 79%@79% 36%@363 72 72% .109%@ 109% 515 512% 41%@41% 79%@ 79% 36%@ 37 722@ 72% .109%0.109% 515 2512 41%041% 79%@80 36% 36% 72%673 .109%

.109% 615 C512% 41% 41% 79% USO 36%, (436% 72% 73 1094 @109% 513%2511% 41% 41% 79% a 80 36%237 109%@109% 513%@511% 41%.@41% 79% 80 36% @37 109% 109% 5134511% 41%C41% 79% 80 36%

.37 72% 73% 109%@109% 515 @511% 41%@42% 79%@80 36%@37% 73 73% 1094 @109% 513%250 41% 42

79%@80

3%@37% 73474 10970109% 513%2510 41% 0.42 79480 364037% 73%@74 109x@109% 513%@512% 41% @ 42 79% 80 26%@37 734 109 109% 516%C513% 41%041% 79%C79% 36%C37 73473% 109 @109% 516%25!3% 41%041% 79%@79% 86%037 734@73% 109% 109% 51640512% 41%041% 79%@80 364@37% 73% 733 109%@109% 5164 @512% 41%C41% 7 X@80 36%,37% 109x@109% 515 511% 41%@41% 79%@ 80 36%0.37% .109% 0109% 512x510 41% 11% 79%CSO 36%37% 734 .108%@109% 520 @510 40%42% 78% 080 36 2374 71 74 1064109% 537x@517% 89% @41 7040.78% 35 @26% 69% 71% .106% @108% 530@ 518% 40 041 77 @78% 35%0.36% 70% 71% ...10746 108% 532% @517% 404041 77 79 35% 36% 70% 71% ..108 @1094 52374@515 40% @41 78 79% 36 36% 71 71%

20..

21.. 22.. 23.. 24. 25.. 26.. 27.. 28. 29.. 30..

31..

May Apr Mar Feb Jan

JOURNAL OF BANKING, CURRENCY, AND FINANCE.

Failure of the Merchants' National Bank at Washington-Government Deposits in Banks

The Bill Providing for the Redemption of National Bank Notes, &c-New York, Boston, and Philadelphia Bank Returns.

The month among banking circles which has just passed is especially vote. able on account of the disastrous collapse of the Merchants' National Bank at Washington. The opprobrious circumstances attending this failure are detailed in an official preliminary report which has been issued and published by the daily press, but we have not room for it here. Moreover, if we are not misinforined, the truth is not all known as yet, and further surprising disclosures will shortly be made. One of the most noteworthy circumstances connected with this failure is the small extent to which the customers of the bank are sufferers. On the first of January last the deposits of private persons were officially reported at $602,309. Had the bank failed, then the loss of individual depositors would bave been very heavy. From some causes, which require explanation however, these private deposits, on the day of the failure, were reduced to $38.610 In other words, more than balf a million of dollars appears to have been paid to preferred creditors a short time before the crash. Now, from this point of view, it is a singular coincidence that the government deposits between 1st January, and the failure increased from $94,225 to $762,312, and a more remarkable cir. cumstances still is that over a quarter of a million of government money was placed in the bank within a fortnight of the closing of its doors by complete in. solvency.

It has for a long time been no secret that the Merchants' National Bank did pot enjoy the high credit which should be indispensable to every bank which is permitted to enjoy the prestige of being a depository of public money. The Uni. ted States Treasurer, Mr. Spinner, it has accordingly been in some quarters supposed, must have known something of the loss of credit of the bank.

It is certain that he has acted with commendable caution in drawing down his deposits. On this subject, Mr. Spinner, in a letter to an evening paper, makes the follo v. ing statement :

"Now the facts are, that there was standing to the credit of the Treasurer of the United States only $3,858 83. On the day of the failure the bank issued a certificate that $1,155 31 was deposited on account of its semi-annual duty, and on the same day General Robinson directed the bank to pass from his credit to that of the Treasurer of the United States the sum of $51,258 93. No money passed in either of these last two transactions, and both were made when it was known that the bank had failed So far as the Treasurer's account was concerned, there was and is now standing legitimately to his credit less than four thousand dollars, wbile he holds in his hands securities, exclusive of what will be required to redeem the entire circulation of the bank, that would on a sale to-day exceed one hundred and thirty thousana dollars. The truth is, that but for the disobedience of orders of a mili ary officer, and the indiscretion of two officers in the Treasury Department -of neither of which the Treasurer bad knowledge-Do harm could by any possibility bave come to the gove eroment."

Under the 45th section of the National Banking law, it is the right of Mr. Freeman Clarke, as Comptroller of the Currency, to order, with the approval of the Secretary of the Treasury, an official examination of the affairs of any National Bank. That, in the case of the Merchants' National Bank this examination should have been deferred uctil after the failure is on every account greatly to be regretted. By falsifying its returns, or by some other contrivances, a disir.genuous shaky bank might deceive everybody in the office of the Comptroller of the Currency; but it could scarcely deceive many watchful officers in other bureaus of the Treasury Department. Several disbursing officers, at any rate, must have been in the secret. Now, it is the obvious duty of these subordinates to report to their chief, the Secretary of the Treasury, any and every case of ir. regularity on the part of the depositorses of public money. If there be no regulation requiring this, such a rule should be made without delay. For bow, otherwise can it be known by Mr. McCulloch what banks require looking after, and what public depositories should bave their deposits of government money reduced or removed.

How long ago certain disbursing officers have been aware of the dangerous position of the bank we are not told, but there is every reason to believe that the meeting of the 20th April, at which the official examiner says that Lieut. Ool. E. E. Paulding, Paymaster United States Army, was present, was the last of a series of anxious consultations of the “ friends of the bank.” After this meeting, when the insolvent condition of the bank was well known, Col. Pauld. ing, instead of taking measures to draw out the $300,000 of Government funds

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