The evening world., 1906-04-23
M4LLSzRH.Z


MONDAY April e
m the l%ancubzt of John W. Gates. an
Important 'af.or laekre ln To-day
stock m.rlrt ul- sunshlac. Tac gloom
% tire weltler o,erwhelned % naturally
bu.lish continent Speculative nervous
moss. whica Nis cXcitcd by money suin-
ecney and thteair az d coal strike, boo
came go a~r-vavat,i by the appalling
calamity on tle Pacific coast that 81 is
now ~1srcg.ih.e even 80 iucal weather
Influences Dulnesa ana weakness fol
lowed n fairly active opening. in which
a few specialt.es advanced sharply The
watchful bears were so successful in
hamuc.ns Reading that they turned
their attention to Union Pacific, South
ern Iaciac and Atchison. An ohe,tiFe
point was made OF the fact, that the
railroads running to san Francisco are
now losing money and VIII probably
show a heavy Joss IA earnings for the
next thirty or sixty days. These ROADS
arc carrying refugees out OF the devas-
ntcd city free and are making no
charge FOR hauling the vast quantities
81 relief supplies westward from the
Mississippi River.
one encouraging feature OF the mar
ket is the rapid recovery of the stocks
OF the United Railways Investment
Company. OF a Francisco. The com
mon stock opened 2l-2 higher this morn
Ing, and subsequently advanced two
more points The United Railways
bonds. which dropped u points the day
after the earthquake, have already
rallied E or 6 points. The frank state
mcnt OF the company regarding IT'S
losses. its esources, and its purposes
has brought about n very friendly feel
ing IN Wall street toward the property
as wen as a feeling OF confidence.
can money loaned during the forenoon
at 5 per cent. al which rate most OF
the renewals we're made. one OF the
large banklng firms received word from
London that engagements for 100000
Of additional gold for the United states
would be closed there o-morrcw- ABOUT
10000 was transferrei BY the W.
Treasurv to san Francisco to-day.
While disposed 70 attack the raiio'1
<tooks Unfortunately, the pear opel-
ators are letting the steel shares sew
orciv alone II Is generally eonoedeu
q, the wall stree. district that the Ia
sird" that blew drtruction to a
Francisco has given an u~npreceuehtou
impetus to the steel industry. Au
nlans for the rebuilding OF the stricken
c,,v Involve the consumption OF an
quantity OF structural steer
The L. 5. Steel Corporation and other
big steel companies are Fastening work
ON extension plants so as TO be aols
ia NEE, the expected abnormal demand
for structural steel. Most OF the steel
Mills In the United states are already
overloaded wiki orders FOR this year
delivery. 1t Is calculated tina deii1
cries OF steel In san Francisco for
building purposes will not begin until
next fan. and will not assume largo
proportions before next spring. Much
preparatory work must bee done in san
Francisco before the actual rebuilding
re.s underway. The u. : Steel Cor
por,uou will equip is new $4,000
plant in Indiana with a large struc-
tural steel mill. ard tie Jones * Laugh
lin Company. in Pittsburs, already has
a new structural plant in operation
a steady demand for southern Rail
way shares from s-rong quarters has
excited curiosity aud conjecture on the
part OF the non-professlonAl element
For sometime a bullish sentiment re-
vardlng Southern Railway issues has
boon developing. Careful Investigation
shows no other cause for this bulllsh