Omaha daily bee., 1906-04-24
NETWORK STOCKS AND BONDS
Cont nuing Effect of Financial Losses Felt
in All Worlds BOurses.
WALL STREET MARKET WEAK AND LOWER
Prospective Demand for Capital for
Settling Fire Losses and RebuiId-
ing san Francisco Causes
General Hesitation.

NEW YORK. April 2S-It became evident
very early In todays stock exchange ses-
week did not measure the passing Of the
influence of the California disaster upon
general. The continuing effects Of the n
nanctal losses there were felt In various
degrees in all the worlds markets The
heavy Withdrawals OF gold from LONDON
hardened the rates for money and dis
counts there and passed the effects In TINS
way on to other quarters. While these
tar reaching effects are measure OF the
great magnitude of the disaster, they are
an example of the close bonds for mutual
the world and which serve to distribute
the shock OF disaster into constantly
branching sources and thus help to its final
absorption. The sending forward Of money
to San Francisco was actively extended
today and there was growing understand
ing of the probability that this movement
would not only continue, but increase when
affairs in the stricken city begin to come
IN order and the machinery OF business 20
of the large sums to be paid In insurance
is recognized in the refrigeration of loss
Insurance. e' Claims nG payable By ' foreign in
surance companies, account is taken of the
se insurance @ Sc upon
available supplies Of money in order TO
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
serve tc keep down interest rates other
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-
ualties amongst the insurance companies
themselves remains an open one. Rail
road traffic officials OF the roads running
| TO San Francisco admit the erect to be
/ looked for in reducing traffic. not only Tor
| local account there but from the obstruc-
| ton to the shipping traffic through that
/ port
/ The Immediate destruction of property
involved will necessitate of course heavy
| drain on available capital for Its replace
/ ment and there is to be considered In ad-
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
for which means must be found to carry
/ them out and resulting strain upon capl-
| tai resources is decided for Its erect upon
securities markets, which would De the
! first resource to affect the conversion OF
assets into liquid form. These are but a
/ few of the points Of problems to be faced
by the financial world and the contempla-
ton of which was the unsettling innuence
| of today's market.
The weight OF selling increased as the
day progressed and the whole market De.
| far advanced. Hasty short covering made
some of the last prices a little better than
! the lowest but the closing tone was weak
| and todays losses run generally between
Bonds were weak Total sales. par value,
! $3.50 600. United states Donds were all uil-
changed on call.
The following was the range of prices on
the New York Stock exchange: