Evening star. [volume] (Washington, D.C.) 1854-1972, 1906-04-20
LOCAL TuAncxAx Hxws.

The strength Of the New York stock mar
ket, az exhibited today. indicates . recovery
from the effect Of the disaster at Gan Fran
cisco, the promptness Of which 10 q cause
of considerable SURPRISE II 10. however.
supposed that the withdrawal Of sastsru
deposits. which. II n presumed. Will follow
the increased needs In that locality as well
az tn other Influences, win tend to stfffen
money rates to some extent In the future.
There Is always temporary stimulus
given to business by the necessity for SUPP
plying the place OF SO much property that
has been destroyed by such Q calamity, and
termed an era of prosperity in that stricken
city while the work of repairing the losses
Is going on.
While the loss of property 1t Is estimated
will reach nearly two hundred and fifty mil
lions. yet men who are experienced in fire
Insurance matters are coming to the con-
ciusion that the fire insurance companies
will have to pay out about one hundred mil
lions. OF this amount somewhere In the
neighborhood Of one-ha6 Is believed to be
payable by American companies and the
balance by foreign concern&
In the event this latter figure comes near
the true amount Of the liability OF the IN
surance companies then 1t will be about a
quarter more than was paid as the result
of the Chicago fire and about two-thirds
/ in the great Baltimore fire.
There is a local interest on account of
one large property holder In San francisco
that Is Of more than usual Importance, and
that Is the Sharon estate. In addition to
the large property interests in the western
city held by that estate. which included
the Palace Hotel, the Sharon estate is the
largest individual owner OF property out
side of the old limits Of this city;
This property Is held in the name OF the
Chevy Chase Land Company, and COM
prises valuable series of tracts of land,
mostly unimproved which extend along
both sides of Connecticut avenue, extended
from Cleveland Park or the Zoo beyond the
District line at Chevy Chase, and including
that settlement and a mile or more into
Maryland:
1t Is not believed that the interests here
will be imperiled by the San francisco
disa ster. owing to the vastness of the re-
come OF the estate wifi no doubt be consid-
erabty reduced, as tt is understood that
the annual income from the Palace Hotel
alone amounted to about $506. GOO.
There was no change in the condition
of the local stock market as the result of
the meeting today: An almost total tack
OF business continues to characterize the
market. and there are no apparent pros
poets of change IN the near future:
EXACTLY what is the trouble no one seems
to know. but as 1t affects the entire line of
securities It is pretty safe to conclude that
the cause whatever tt may be, is a general
6ne. The most obvious explanation is, of
ccGrse, that the buyers are loaded down
with securities. and the present level of
prices affords them no opportunity to realize
with profit:
In the case Of the railway stocks, there
seems to be no demand at all, and exactly
why they should be offered on the present
level Is not understood unless it means that
the apprehension of unfavorable legislation
Big Congress is being discounted:
The Lanston Monotpye Company at its
animal meeting yesterday elected the fol-
lowing directors: ). e. Maben. w. NJ. Laf-
fan, H: E. Hallenheck. Henry Parsons. r.
Suydam Grant, H A. Seixas. w. H. Goodby.
j: Maury Dove. Maxwell Woodruff. Adrian
W. Larkin and Joseph Bryan.
President J. Maury Dove announced a
per cent dividend; payable April q: