Evening star. [volume] (Washington, D.C.) 1854-1972, 1902-06-25
LOSSES IN LONDON.
Postponement of the Coronation Gives
Shock to Trade.

A cablegram to the New York Herald
says:
To no other set of men did the news of
the kings illness and the postponerent of
the coronation some with more stunning
force than to those who had erected gigan-
TIC stands along the route of the process
slons They had invested thousands of
pounds. and hoped to gain other thousands
lney mad sold their tickets with the under
standing. as rule that the money should
De returned to the purchasers if there were
no procession.
L saw number of these men. and ascer-
tanned that in majority of cases, while
the money would be returned, the BUYERS
OF the tickets who are spectators them
serves, would not be entire losers. The
great majority of them had taken precau-
lions to be on the safe side, and insured
themselves against postponement. Some of
these assurances were placed with Lloyds
underwriters, others with insurance COM
panies.
A careful estimate of the number of seats
on stands along the route of the second
Gays procession places it at 800, 900. A
practical builder told me the average cost
per seat to spectators, including lease of
the ground, price of timber, labor and dec
orations, would be about thirty shiings
per seat This would make an investment
of about f9to,C00 in seats alone.
From what l learned today at least one
half of this amount has been insured al
comparatively low premium, so that in
Surance companies and underwriters stand
to lose fi0, U0Ito $500. 900 on this score alone
Those spectators who didn't insure of
course, will lose everything they have in
vested, unless the coronation procession
comes off in the immediate future. There
was tremendous hubbub at Lloyds when
the news of the kings illness first reached
there. The underwriters endeavored to
cover, but, as a,frule, were quite unsuc-
cessful.
Effect on Stock Exchange.
AS to the stock exchange, prices dropped
upon receipt of the, news, but there was no
slump panic. Almost all the South Afr-
can list came down in price. There was
very little selling or offers to buy. Prices
fell out of sympathy and nothing more.
The people who will lose the most Sc
yerely the caterers. restaurateurs and
the men who supply game. meats and veg
etables to- hotels and restaurants. | know
of one ELSEWHERE within half an hour after
the making public of the fact of the kings
illness the merchant received orders coun-
demanding the purchase of hams to the
number of four hundred. Big caterers
were simply flooded all day with kilograms
canceling orders. They, on their part, had
ordered supplies of all kinds in expectation
of being called upon to feed hungry thou
sands. Most of this money will be lost.
Then. of course, every woman who was to
attend the coronation had spent consider
able sums on dresses and jewels. Ii is i'm
possible, of course, to make any estimate of
the enormous expenditure which collec-
lively, they went to.
The vestries of parishes through which
the professions were to go had likewise
made elaborate preparations for decorating
the streets. Most of this will also be loss.
Railway companies have hastily to decide
whether the thousands of excursions they
arranged are to be Cancelled. Steamships,
with bunkers filled. lie waiting to take peo-
pie to the now postponed review. Ten thou
sand carriages. for which horses had been
brought in from all parts of the country,
must be scattered abroad again.
EPSON Gypsy Story Revived.
The story of the king and the EPSON
gypsy is being retod. According to this
gypsy who supposed not to have
known his majesty's identity told him that
he would rise high to the throne itself, but
would just fall short of his ambition at the
last moment and would not be crowned
king.
The same seer told King Edward that he
would be so unlucky on the turf that even
ii one of his horses was going to win a
race it would fall dead at the winning post.
This prediction was fulfilled in the case of
Counterpart, in 1856.
Later, at Homburg. a palmst is said to
have foretold that the king would become
ill as he started for the coronation.
the coincidence of their being current this
year and the event of yesterday are re-
garded as remarkable.