The daily morning journal and courier., 1905-06-12
STOCK MARKET FEATURES
FAVORABLE NEWsIMPARTSNE NEW
 ACTIVITY.

The Change fin Equitable Affairs and
 Good Crop Report stiffen Prices and
 Make Bulls Aggressive-Time Money
 Dearer.
 The general rally of prices on satur- day was due to the news of the change made in the direction of the Equitable company's affairs and to the favorable crop report by the government.
 The market opened active and gener- ally strong, as it was expected it would with the announcement of Mir. Ryan's Equitable coup. The improvement in commission business was slight, but the room traders both covered and worked for a quick turn on the long side. Total transactions during the first half hour amounted to 133,000 shares, as against .183, 1000 all day Fri day. During the first forty-five min- utes the transactions exceeded the to- tai of the day previous.
 There is to reason to believe that in- siders are once more bullish on Amal- gamated Copper and that there is a fair-sized short interest in the stock. The important thing about the state 1nent is that Mir. Rogers and his asso- ciates have felt obliged to abandon their policy of keeping the stockholders in utter ignorance.
 The government crop report said: Preliminary returns to the chief of the bureau of statistics of the department of agriculture on the acreage of spring wheat sown indicate an area of about T,613;0o0' acres, an increase of 472,000 acres, or about 2S per cent, from the estimate of the acreage sown last year. The average condition of spring wheat on June I was 93.7, as compared with 93.4 at the corresponding date last year, 95.5 on June 1, 1908, and a ten-years' average of 944. The average condition of winter wheat on June l was s5.5, as compared with 92.5 on May 1, 1905; 77.7 on June i, 1904; &S2.2 at the correspond ing date in 1903, and ten-years aver- age of 79.2.
 As figured by the statistician of the Produce exchange the government re- port indicates a yield of 42S,011, ,000 bushels of winter wheat, comparing with the May estimate of 460, FOG, ,0O0 bushels, and with last years harvest of 332,0O0,O00 bushels. The indication on spring wheat is for a crop of 299,- 421,000 bushels, against a crop of 219,- 164171 bushels in 1904. The total esti- mated wheat crop is 727 ,4S2,000 bushels, comparing with last years harvest of 552,399,617 bushels.
 The Chronicle says that during the month of May very satisfactory re- suits were revealed in railroad gross earnings
 No further dividends will be declared this year on the preferred stock of the Kansas City, Fort Scott and Memphis, all of which is in the hands of the trustees of the Kansas City, Fort Scott and Memphis Frisco certificates. The action corresponds with the action on the Chicago and Eastern Illinois.
 The adjustment of the Equitable sit- uation was practically the sole topic of discussion in the financial district The sharp advance in Metropolitan Street Railway shares was naturally connect ed in the popular comment with the fact that Thomas F. Ryan, the head of the syndicate purchasing the Equi- table control from MT. Hyde, is the dominant interest in the Metropolitan system.
 The announcement of the favorable reception by Russia and Japan of Pres ident Roosevalt's peace negotiation proposal contributed to the improved feeling, but the principal factor was the settlement of the long and bitter Equitable controversy.
 Time money was distinctly ffrmer in tone, although the advance in rates was slight The demand was more &C., tive than for some time past and was met with much less freedom by lenders than heretofore.