movement has caused at the end of the month a partial stringency, and the rate on demand loans closes at 6@7 per cent. There has been considerable irregu larity in connection with cotton bills, some important houses in that trade, on both sides the Atlantic, having failed; while there is much protested paper of firms not yet announced as having actually suspended. This condition of things appears to be due, to a large extent, to the reported refusal of the Bank of Eng. land to discount American cotton paper, a course which it is difficult to explain simply on grounds of banking prudence, but which may perhaps be accounted for from a peculiar regard in the Bank direction for Manchester interests. The gold premium has been, upon the whole, firmer than last month. The balance of current maturing obligations has been against the United States, principally, it would seem in consequence of the payment of the Five-twenty coupons due to foreign holders, and over eight millions of specie have been ship. ped during the month. The demand for export has been partially met by sales from the Sub-Treasury; but still the premium has advanced from 135 at the opening of May to 138 later. The imports and exports of coin and bullion at the port of New York for the first quarter of the current year, and for the months of April and May, and since January 1, have been as shown in the following statement. The following statement shows the amount of receipts and exports in May and since January 1, for the last seven years: The movement of specie at this port during the month shows that six millions have been received from unreported sources, the bulk undoubtedly having been derived from sales of gold by the Treasury. For the first five months of the year the movement shows a supply from sources of which there is no record, amounting to $32,727,232, most of which, it is to be presumed, has come from Govern. ment sales. Business at the stock boards has been dull, and lower prices have prevailed. There has been a marked absenee of that interest in speculative operations by the outside public which generally exists at this period of the year, and transac tions have been almost entirely on brokers' own account. The total number of shares sold at both boards, during the month, has been 1,678,699, against 2,113,581 for April, and 2,514,451 for May, 1866. VOLUME OF SHARES SOLD AT THE STOCK BOARDS, MAY, 1867. January. February. March. April. May. 78,097 61,180 6,562 12,128 34,411 5 mos. 15.384 8,42,034 83,083 178.837 1 3.169 217.919 367,900 64,213 Mining Telegraph' At Exchange Board. Total 1867.. Total 1866.. 672.926 820,157 642,614 3,535,177 1,658,325 841,242 1,152,876 1,293,424 1,036,085 5,981,952 6,409 765.359 634.121 2,423,684 1,475,363 1,825,802 2.113,581 1,678,699 9,517,129 2,459,517 1,743,431 1,965,839 1,754,439 2,514,451 10,411,877 United States securities have showed unusual activity. The amount of idle funds coming into the market has been exceptionally large, and the owners have shown a decided preference for Governments as a means of temporarily employ ing this capital. At the same time, Five-twenties have been firm in the foreign markets, and a moderate amount has been exported, which has further contrib uted to sustain prices. From a subjoined statement it will be seen that the sales at the Exchange show a large increase upon preceding months. The amount of Government bonds and notes, State and City bonds, and com pany bonds, sold at the Stock Exchange board in each of the past five months, and the total since Jan. 1, is given in the table which follows: VOLUME OF BONDS, &C., SOLD AT THE EXCHANGE BOARD, MAY, 1867. U. S Bonds..... Total, 1867. · 1866... January. February. March. April. May. 5 months 2,524,800 752,200 2,863.300 13,864,500 930,300 3,825,900 $12,108,800 $11,090,150$11,396,480 $14,038,750 $ 1,150,500 $69.784,680 12,155,700 $822,000 10,622,840 12,056,150 12,279,450 56,936,140 The following are the closing quotations at the regular board each Friday -6's, 1881.- The daily closing prices of the principal government securities are shown in the following statement: Day of month. PRICES OF GOVERNMENT SECURITIES AT NEW YORK, MAY, 1867. Wednesday 1.. Thursday Friday 3. 1104 Saturday 4.. 110% 107% 105% 105% 107% 99% 100% Sunday 5. Monday 6. Tuesday 7.. 107% 105% 106 1074 99% 106% Wednesday 8. 1112 Thursday 9. 111% 111% 107% 105% 106 Friday 10. 111% Saturday 11. 111 Sunday 12 Monday 13. 111% 111% Tuesday 14. Wednesday 15. 11112 Thursday 16. 111/4 Friday 17 111% Saturday 18. Sunday 19. Monday 20. 111 111% Tuesday 21. Wednesday 22. Thursday 23.. Friday 24.. Saturday 25. Sunday 26. Monday 27.. 111% 111/% Thursday 30. 111% Friday 31. The quotations for three-years compound interest notes on each Thursday of the month have been as shown in the following statement: Issue of PRICES OF COMPOUND INTEREST NOTES AT NEW YORK, MAY, 1867. 117 @1174 December, 1864.. 116 @116% May, 1865.. 113% @113% 119 May 16. 119 119% 118 @118% 118 @118 August, 1865 112%@112% September, 1865. 111% @111% 113 @11844 112 @1124 October, 1865.... 111%@111% The first series of figures at first-class brokers' offices. 117 @117% represents the buying and COURSE OF CONSOLS AND AMERICAN SECURITIES AT LONDON-MAY, 1867. The lowest and highest quotations for United States 6's (5 20 years) of 1862, ending Thursday, have been as follows: There has been no report from Paris since the 1st of May. Foreign Exchange has ruled for the greater part of the month at the specie shipping point. The large amount falling due on account of Five-twenty cou pons held by foreigners, together with the failure of Frazer, Trenholm & Co. Liverpool, have been the principal causes of the firmness of the market. Toward the close of the month, the market experienced some relief from the offerings of bills against the sale of iron-clads to the French Government; but upon the reduction of the Bank of England rate of interest to 21 per cent, prime 60 days' sterling bills advanced to 110@1. COURSE OF FOREIGN EXCHANGE (60 DAYS)—MAY, 1867. Paris. Amsterdam. Bremen. centimes for dollar. 109@109% 520 @515 cents for Hamburg. Berlin. cents for cents for M. banco. thaler. 36 @36% 71%@72X 109%% @109% 517%@513% 41%@41% 79 79% 36%@364 724@724 109%@109% 517@512% London. cents for Days. 1.. 54 pence. 2.. 3. 4. 5. 6.. 7. 8. 9.. 10.. 11.. 109%@109% 515 @512% 12 13.. 14.. 15.. 16.. 17. 18. 19. 20.. 21.. 22. 23. 24. 25 26. 27 29. 29 30.. 31 May.. Feb. Jan..... 109%@109% 520 @513% 41 @41% 78%@79% 361⁄4@36× 724@72% 109%% @109% 518%@512% 41 @41% 79%@80 109%@109% 512@511% 41%@41% 109%@110 512@511% 41%@41% 79% @-80 109%@110 520 @510 Since Jan. 1........ 10s @110 525 @310 364@36 724@72% 86%@36% 72%@72% 36%@36% 72% @72% 36@36% 72% @72% 36%@36% 72% 72% 36%@26% 72% @72% 86%@36 72X@72X 86%@36% 72% 72% 36% 36% 727@72X 86%@36% 72%@72% 35%@36% 72% @72% 40%@41% 78%@80 36 @36% 71%@72% 404@11% 78% 79% 35% @36% 71%@72% 40% @41 78 @79% 85%@36% 71%@TX 40%@41% 78%@794 36 @36% 71@72% 41%@41% 78%@79% 30%@36% 72 @72% 40%@41% 78 @30 35%@36% 71%@72% Short Exchange on London has ranged from 110 to 110.4 JOURNAL OF BANKING, CURRENCY, AND FINANCE NEW YORK CITY BANK RETURNS. $257,852,460 12,794,892 258,985,468 14,613,477 255,032,223 15,865,207 Return of the New York, Philadelphia and Boston Banks. Below we give the returns of the Banks of the three cities since Jan. 1: Date. January 5. Deposits. Legal Tend's. Ag. clear'gs 32,762,779 202,533,564 65,026,121 486,987,787 605,132,006 32,854,928 201,500,115 63,235,386 520,040,028 January 26 251,674,80% 16,014,007 63,426,559 568.822,8 4 Febra ry 2. 251,264,355 16,332,98. 512,407,258 February 9.. Febru'ry16. 508,825,532 82,956,309 196,072,292 Febru'ry23..... 257,823,994 13,513,456 33,006,141 33,294,433 198,01-,914 6,014 195 64,523,440 62,813.039 March 23... 259,400,315 9,.43,913 83,519,401 19,375,6 5 60,904,958 46,534,5 9 544,178,236 496,558, 19 472, 02,3 8 April 6.. 254,470,027 8,138,814 33,774,573 183,861,269 59,021,775 459,850.602 531,835,184 April 13. 250,102,178 8,856,229 33.702,047 182,861,286 60,204,515 525,933,462 April 20. :47,561,731 7,622,535 447,814,375 April 27. 247,787,881 7,404,304 33,601,285 187,674 341 67,920,351 446,484.422 May 559,869,118 May May 11..... 253,682,829 14,95,590 33,595,869 200,342,832 67,998,639 524.319,769 503,675,793 256,091,805 14,083,667 83,697,252 193,673,845 60,562,440 431,732,62 2 |