Omaha daily bee. (Omaha [Neb.]) 187?-1922, 1906-04-24
NETWORK STOCKS AND BONDS
Cont nuing Eject Of Financial Losses Felt
in All Worlds Bourses,
WALL STREET MARKET WEAK AND LOwEF
Prospective Demand for Capital for
settling Fire Losses and Rebuild
ing san Francisco Causes
General Hesitation.

NEW YORK. April 2S.-It became evident
very early in today's stock exchange ses-
week did not measure the passing of the
influence of the California disaster upon
the market for securities and money in
general. The continuing effects of the IL
nancial losses there were felt In various
degrees in all the worlds markets. The
hardened the rates for money and dis
counts there and passed the effects in this
way on to other quarters. While these
great magnitude of the disaster, they are
an example of the close bonds for mutual
help which hold together the markets OF
the world and which serve to distribute
the shock OF disaster into constantly
branching sources and thus help to its hnal
to San Francisco was actively extended
today and there was a growing understand
ing of the probability that this movement
would not only continue, but Increase when
affairs I'm the stricken city begin to come
in order and the machinery OF business to
Of the large sums to be paid in insurance
Is recognized i'm the recuperation of loss
hna especially the aTSs sope8 81 the
surance companies, account is taken of the
necessary demand which will be made by
the insurance companies themselves upon
available supplies of money In order 10
pay their obligations
Although payments can be made out of
the accumulated surplus of these com
panies, capital must nevertheless be with
| drawn from the money supply which might
wise. Some liquidation of securities on
behalf of the insurance companies Is also
| looked for. The outcome of the disaster
\ upon mercantile credits for San FRANCISCO
/ account cannot be estimated until affairs
! there are better adjusted and the banks re-
sumo business. The question of the cas-
| ualties amongst the insurance companies
/ themselves remains an open one. Rail-
/ road traffic officials of the roads running
] to San Francisco admit the erect 70 pc
! looked for in reducing traffic, not only for
| local account there. but from the obstruc-
! ton to the shipping traffic through that
port.
| The Immediate destruction of property
! involved viii necessitate of course heavy
| drain on available capital for its replace
ment and there is to be considered IN au-
! dition to this destruction of fixed property,
the large gap resulting in the wealth pro-
ducing power by stoppage OF operation OF
wealth as is involved in the complicated
| activities of a great city. The absorption
of capital in the work of rehabilitation
will reduce this supply available for the
| carrying out of extensive projects in other
| lines of industry and In other quarters.
Vast enterprises are already entered upon upon
them out and a resulting strain upon capl-
tai resources is decided for its effect upon
| securities markets, which would De the
first resource to affect the conversion of
| assets into liquid form. These are put a
few of the points of problems TO De taceu
| by the financial world and the contempld-
ton OF which was the unsettling influence
| of today's market
The weight Of selling increased as the
day progressed and the whole market be-
came very weak before the afternoon was
far advanced. Hasty short covering made
some of the last prices a little better tnan
and today's losses run generally between
and points.
50 COO United States bonds were all UNI
changed on call.
The following was the range OF prices on
the New York Stock exchange; o,...
IA Dh