Evening star. [volume] (Washington, D.C.) 1854-1972, 1905-06-10
Increased Animation Marked
Today's Dealings.
ADVANCES AT OPENING
CONDITIONS THAT CONTRIBUTED
TO STIMULATING INFLUENCES.
Urgent Covering of Short Contracts and
Cancellation of Selling Orders
The Bank Statement.

NEW YORK, June 10.-1he reasons for
the greatly increased animation in this
mornings stock market were perhaps 50
obvious as scarcely to require recital
here. The striking and generally unlocked
for turn in the affairs of the Equitable
Life Assurance Society might perhaps De
named as the most influential overnight
development. and second in Importance was
the definite intelligence that the prelimi-
nary step had been taken in the negotia
lions looking to a termination OF the Russo
Japanese war.
Additional stimulating influences were
forecasts of the weekly bank statement.
indicating that the showing might be much
more favorable than has heretofore peeh
expected and, finally 1t was the opinion
that the government crop report. which
will be published late this afternoon, would
likewise make a favorable exhibit
The combined influence of these matters
was reflected in opening advances in the
stock market, ranging from l to points
in practically all of the active STOCKS. Dur-
ing the first hour of business the trans
actions amounted to over 2o0.OO0 Shares
as against only about $1,000 in the same
period yesterday The London stock mai
ket was closed. as IL Will be until next
Tuesday so no influence was exerted from
that direction. All of the European stock
exchanges will be closed on Monday also
The immediate effect of this morning
important news was reflected In an urgent
covering of short contracts and the can
celia ton of many selling orders. In add
ton. buying of better quality was re-
ported in practically all quarters Of the
market than has been witnessed In many
weeks. These technical circumstances were
sufficient for themselves to account fully
for the results of the days transactions.
1t Is not often the case that on single
day the financial markets should be re-
lieved of the incubus of two such weighty
matters as those the practical solution of
which was announced this morning.
IL was only natural that so far as the
Equitable Life Assurance affairs were con-
cerned the striking developments there
should give free play to the Wall street
imagination. but aside from the innumer-
able conjectures In this respect which could
be heard today. 1t was the general and calm
conclusion that the financial atmosphere
had become suddenly clarified to an meal
cuiable degree, and that the effects of this
latest stroke of high finance would be prac-
tically illimitable
The Bank Statement
Today's bank statement was very much
complicated in its figures by the large finan-
cial transactions involved in the distribu-
ton of the payments made against the Jap
anese loan subscriptions. In other respects
the statement was out of line with the pre-
liminary calculations also. Whereas all Of
the forecasts had pointed to a decrease in
actual cash, that item actually rose $4,000
The loan account was curtailed to the
extent of S11. T62, 100 and deposits fell S12.-
Gii 900. In consequence of the other changes
surplus reserve increased $3rI11 900. and
the banks now hold 81. S27 900 in excess of
the lawful requirements. Their surplus
holdings at this period of last year were
ST.. 5s:2 OG0; in 1903. S9,4TI 900. and in 1907
Sl3 3u2 go.