The daily morning journal and courier., 1905-06-13
STOCK MARKET FEATURES
OPENING FEEBLE BUT PRICES
 CLOSED STRONG.
Peace Talk Was the Governing Pivot MetropOIitan's Strength-The Gov ernment and the Banks.

ernment and the Banks.
 The market was weak and then strong yesterday according as peace prospects were considered darker or brighter. '..
 The lower quotations at the opening and during the morning were due to re- ports that Russia was indifferent to the peace overtures and might not respond to them,
 Brokers on the floor professed disap- pointment that the public did not come into the market on the settlement of the Equitable fight.
 Saturdays enthusiasm in the stock market over the peace prospects and the Equitable Life affair was not re- vived at the openidng, and there was very general disposition to assume more conservative attitude as to both events.
 A Chicago dispatch says that the grain tonnage last week fell off 24 per cent. while the tonnage in miscella- neous freights surpassed the estimates.
 Manipulation in the Metropolitan stocks was renewed, and these assun- ed position of special strength on va- rious rumors as to the future policy of the company. 1 ...
 The day's developments were con- sidered as promising, such as peace prospects, crop prospects and the Equit able settlement. But on the other hand the view was fioated that Superinten- dent Hendricks report on the Equitable situation may be so drastic as to dis turb public confidence and call for greater readjustment than most per- sons have been expecting. Hence many thought it was was to await develop ments in the insurance world before at tempting to put stocks up further. The reply to this was that Ryan knew what Ee was up tod.
 The Whit-Monday holiday in Europe took the foreigners out of our market, and New York alone of the worlds se- curity markets was relied upon for an expression of sentiment as to events that occurred over Sunday.
 Much of the selling was credited to Boston, which led to the theory that the operator who periodically attacks Wall street is again trying to depress values.
 It was evident that a campaign against Union Pacific had been planned for at the opening. H. Content & Co., offered Union Pacific down with sales of 10000 shares. Tower & Sherwood sold 5000 shares. It was thought that field was one of. the bear party. The stock rallied, however and closed stron strong.
 To most thoughtful finaneiers, it is said, the facts that Russia is hopelessly beaten. and that she has agreed to ne- gotiate, are conclusive as to the out look for an end to war.
 The bear party made Copper their target. It was the first of the active list to show point decline. It sold off to about 30, with Boston houses supplying a good deal of the stock Lawson's advertisement was the basis of the attack.
 Both the United States Steel shares were higher at the opening, in contrast width the rest of the list. But they soon followed in the general decline. Later they rallied to the best prices of the day, and the impression they gave throudghout the day was that of firm ness under support and short covering
 As to spring wheat prospects it is re- called that there have been only five out of the past dozen years when there have not been at least 10 per cent. de- terioration between June and Septem- Der, and in five years of the period 20 per cent. decline was made.
 A Washington dispatch says the sec retary of the treasury announced that the payment of the second installment of the public deposits called from de- pository banks will not be required on July i, the date named in the call but may be made by the banks at any time on or before July 15. The purpose of this change in the date of payment is to separate the transfer of funds of the treasury from the heavy payments of dividends and interest falling due on the 1st of, July. The. unpaid portion of the second instalrnent to be paid by the banks to the treasury is about st2OOo,- 900. -'.'.- ..+ '%.
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