The Cairo bulletin., 1905-06-26
EXPECTSSEASONOF
GREAT PROSPERITY
HENRY cLEWs QUITE oPTlMls.
TIC OVER OUTLOOK - ZIG
WHEAT CROP WILL GIVE FAR
MERs LOTS OF MONEY.
speeIal % De BuIleLIn.

Special TO the Bulletin
New York, June 25.-The stock
market has shown a better abArecia-
lion of the improved technical position
outlined in these advices a week ago.
And the weeks developments have, IL
anything, added to the strength Of this
position-at any rate there has been
what may be termed a general clear
ing in the financial atmosphere. The
larger market interests have given
evidence of quiet but persistent buy
Ing in antieiDat on of subs antial in
Yesfment demand to follow The first OF
lnly disbursements, ana have received
additional incentive IN this direction
as a result of the improved conditions
reported from the agricultural sect ons
Of the country A large almost a
bump winter wheat heaviest ia
now practically assured. and Il would
take an improbable combination of
untoward Developments in the spring
wheat section to eliminate the wheat
situation as a whole from the list of
favorable stock market influences. ia
VII ch, at tie present time. il holds a
commanding position
Improvement Of Crops.
But it Is the Improvements in the
great surplus CROPS corn and cotton
that has been the most encouraging
feature. In beth Of these there has
been the usual indication Of now rapid
" snort period of ideal growing
weather win counteract The disad-
Yantages incident To d late and othen
wise unfavorable start, An additional
factor is the highly renunerative
prices Of which the farmer IS already
assured for his products, the septem-
ber and December deliveries Of whea
now selling notwithstanding the favor
able crop outlook, about 5 cents per
busRe higher tAan at this time las
year when a small crop barely SUI
ficient to supply home requirement s
was In sight; and tue difference iii the
ease Of corn Ii just ahoat the same
When therefore. We figure an Increase
Of about cents per bushal on the
millions Of bushels that the farmers
VIII sall We hava certainly substantial
basis for expecting 4 season Of grea
prosperity IN the agricultural eecti0ns.
aad this in the case Of our country
is tantamount 10 prosperity in the ma
ten al large.
The Equitable Matter.
The report BY the New York State
Superintendent Of Insurance. Mr. Hem
bricks, Of his Investigations into the
management Of the Equitable Life AS
surance Society may, | think, be ac-
cepted as ending that unfortunate DC.
curreucc as a factorat any rate as
an adverse factor-in the financial sit
Iuatlon. The influence from now on
should be in the oIher direction. Mr.
Hendricks report follows very closely
what me Street was inclined to ex-
poet. An important feature i'll the
report is that condemning he soc etys
relations with subsidiary financial
concern holding, as they have been ac-
cusr9med to DO, vast amounts of the
Equitable funds to their great profit
| The net result VIII eventually be the
reduction of these great denominations
of capital to a normal working basis,
the investment Of the residue in stand
ard investment stocks and the posi-
Die limitation Of securities available
for Investment similar to the limi.a-
TONS governing savings banks invest
ments. Whatever new conditions may
arise in this direction will. il shoulI
be remembered, apply not alone to-
the affairs Of the Equitable but to an
the great Insurance companies doing
business in this state
! O:her Influences Terminate.
The termination OF the Insurance
controversy will remove the last Of d
series Of influences under which the
market has stood up with remark
able fort tude, showing tina. pres snt
holders Of securities are not to be
easily frightened into parting Will
them. Among these Influences, most
Of which have now happily been re
! moved, may be mentioned (1l the dis
| quieting crop reports (2) the Japanese
| and Russian war; CD the war talk b..
tween France aud Germany, CAV The
prolonged liquidation by the profes
sional element, (5l the attacks on the
market by tho bear comb nations. (6)
the unjust tax Of s2 on each 10t
shares Of stock sold The last.namat
influence naturally IS handicap OF
the traders, whose keen pursuit d
fractional advantages initiates strong
ly in making an active market I'm
like the others have summarized
this stock TAX has not yet been re
|, moved and It's removal Is certainly |
matter Of sufficient importance 10 ner
4 the cooperation to that end Of iinan
cial interests generally. Owing 10 tn
injustice DC this TAX ! suggest the ad
visibility Of corporations substituting
some kind Of 4 bond for stock issues
= thereby protecting dealers in their "a
cnrirics from the payment Of this in
vidious and unconstitutional taxariOr
Beyond this minor influence nothln
would seem ID BE orcrhanging the W
uation to prevent more active an