The New York herald., 1871-12-13
FINANCIAL And COMMERCIAL,
WALL STREET,

TUESDAY. Dec 12-6P.M.
On 'Change to-day wheat was inactive and un-
changed. The cotton market was excited and
strong. Three failures In the cotton trade were re-
ported particulars of which will be found in our
general news columns. The parties involved were
the 'short side OF the market and operating for
o decline
THE EXPORTS OF THE WEEK.
The aggregate exports, exclusive OF specie. from
the port OF New York for the week ending Decem.
Der IL. 1871, were $4,17o.15s.
SUSPENSION OF THE OCEAN BANK.
The Ocean Bank. which for some time past had
been debtor at the Clearing House, was thrown out
OF the Clearing House this morning by resolution
OF the special Committee on Suspensions, which
action was subsequently ratified at meeting Of the
Clearing House Association. Mr.. Hurlburd, the
Comptroller OF tho Currency happening to be In
town and hearing OF the action OF the Clearing
House. ordered the bank to suspend business as
matter OF justice to all its various depositors.
The particulars Of the whole affair win be found
Civ en- at length elsewhere our columns inclusive
OF the statement OF member OF the Committee OF
Investigation that among the papers OF the institu
ton were found checks for $4,000 drawn by MIR.
lender, the National Bank Examiner of this dis
trct. In view OF the position held by this oflcial
and his relations TO the national banks as q SUPER
vlsory agent watching the interests OF the public,
no little surprise was manifested in Wall street at
the fact Of his Indebtedness to the institution.
Doubtless Mr.. Collender can explain the matter
satisfactorily; but TINS afternoon the feeling was
strong that no should, under the circumstances
resign the office Of Bank Examiner.
MONEY STRINGENT.
The money market was stringent, and the lowest
rate was per cent to some OF the more favored gov
ernment dealers. The stock brokers were in some
instances accommodated at l. coin but the bulk OF
business In stocks was at per cent, plus CON-
mission Of 1872 116 per cent. Bank accounts were
again late many not being made up until near four
O'Clock, and borrowers who were out In quest OF
funds after three O'Clock paid lie u per cent
unlll about half-past three O'Clock, when there was
rather better supply at 1882 and interest," at which
rate the market finally closed.
Prime paper was quoted at s q 10 per cent dis
count for actual business, which was limited.
The decline in gold and reduced supply Of com.
mercial bills induced flrmer tone to the foreign
exchanges, and the leading bankers advanced their
rates for sterling 10 1o91s for sixty day and 109X
for sight bills
GOLD wEAK-1o9h 100H.
The gold market was weak unuer the influence Of
the difficulty had In carrying gold, and the decline
thus stimulated was assisted by The quotations Of
our bonds IN London, where the '67's were very
buoyant, and rose u per cent-something extraor-
dnary for so sober O market as London es-
peclaly at this time, when the Prince OF
to nrmness in anything. The decline to 1904
day, when it was reported that the clques who had
locked up money had abandoned the project and
that money would consequently be easy tomorrow.
IN q q