The daily morning journal and courier., 1905-06-08
STOCK MARKET FEATURES
ONE OF THE TEARS DULLEST
 DAYS.

,Sut Ptices Ruled strong-NO Stocks
 Were Offered Down-The Equitable
 ROw-Peace Talk Tended to Firmness
 Bull TaIk-Crop Outlook Good
 BulIish on Southern Common.
 It was a remarkably dull day in the stock market yesterday. Prices held well, however, and there was evident support in Amalgamated Copper.
 It was the general disposition to await developments as to movements in favor of peace negotiations between Russia and Japan, and also as to the outcome of the meeting of the Equit- able Life directors that brought the market to a standstill at frequent pe- riods.
 The comparative strength of the steel group excited much attention, in view of private advices from the steel man. ufacturing centers asserting that fur tner reductions in the price of pig iron were being made.
 The announcement that the American minister at St. Petersburg was in con- ference with the czar added to the cheerful feeling in regard to peace.
 Influencing factors yesterday were generally regarded as favoring mod crate recovery in prices, after the ham mering which has been going on for some days. The crop outlook and ab- sence of demoralization in the steel nfo able side had been oVerdrawn-at least so far as developments to date are concerned.
 Crop reports continued favorable and to add to the interest came the esti- mate of an expert that the government statement on June 10 would show condition of 90 for winter and 95 for spring wheat, with an increase in tha acreage of the latter.
 Bull talk came out on Southern rail- road common, and it was bid up to above 31. The continued increase of gross and net earnings on the Southern were pointed to, and it was predicted that the common stock would double in value in year or two. It was pointed out as a good stock to accumulate and hang on to.
 The bull contend that about the only thing the bears now have to attack the market with is the row in the Equita- bic.
 Close followers of the market are in1- pressed more by the absence of im- portant selling than by the presence of so much professionalism.
 The regular 2 12 per cent dividend on Atchison preferred was declared, payable August 1.
 Steel Foundries rallied little on the statement of President Miller that no one had authorized the reports that the dividend would be passed. Much interest attached to the expect ed arrest of member of the stock exchange to-day for breach of the stock transfer law, with view to making test case and pushing it through the courts as rapidly as possible. On the exchange it was reported that there was considerable competition for the privilege of being the martyr" The governing committee refrained from giving out any names yesterday. The railroads also contributed some favor able features to the situation. The New York Central reported a gross gain for May of S7s7, GOO, which was the best exhibit of the day. For the fourth week in May the Missouri Pacific in- creased $65,0 ,000 International and Great Northern $53.0oQ, Central of Georgia $35,0O0 and Texas Pacific $14,OOO., These continued large gains in railroad earn ings over last year and the favorable c.. tive business conditions at present, with s promise of their continuance after the harvests are gathered.
 Statistics of the May anthracite pro- auction were made public and were re- garded as confirmation of the claims made as to the prosperity fthe coal CTS.
 Brokers were discussing the stamp tax and the likely result of the test case which will be inaugurated to-day. There is no incentive for room traders to do business now. with the market regularly acting contrary to expecta- tions, but with the $2 tax definite thing is to be considered.
 An adjourned meeting of the stock holders of the Cleveland, Cincinnati, Chicago & St. Louis Railway Co. will be held in Cincinnati June 21 to vote on the proposition to increase the com pany's capital stock from $2S, ,000 to $4O,000,000. The directors have granted the right to subscribe to the new stock to preferred as well as common stock holders, and, therefore, all stockholders of preferred as we'll as common may subsrefbc to the new capital stock on the terms prescribed (20 per cent. of holdings) and be entitled to make pay ments therefore from June 22 to July 3, inclusive. Certificates of stock will be issued afetr June g for all full shares and multiples thereof