The sun. [volume] (New York [N.Y.]) 1833-1916, 1906-04-30

NeSI DAN iiOiO ~ NhA@N WIZ
insurance companies will not be willing
to pay for damages arising solely from
the earthquake, and disputes land 1t may
be liigation) on this point may delay the
settlement OF claims. II Is to be remem
bered. however, that losses by fire con
stitute much the larger share OF the claims
So, too, calculation Is still vague as to the
exact amount Of insurance money that
Is to come from abroad. The foreign
companies will have their losses reduced
the same as will our " fire insuranc &c
concerns, by money paid for reinsurance
and the question as to the quantity Of actual
gold remittan oes that will be made de-
ponds somewhat upon the Offsets that
the European bankers may produce In
the shape Of matured finance bills drawn
by our own countrymen. No doubt what
ever money is sent will be concentrated
at New York as q central point OF distri-
button, and this will be a very favorable
stock market factor. Another very help
full circumstance in this regard Is the dis
tinot and what seems to be the growing
improvement in all financial, social and
political conditions in Europe. The general
tension arising out of the Moroccan and
oNiC uAplOilldIlC ullllCulliCo " buDcluCu
the Russian loan has been oversubscribed,
and the Bank Of France necessarily
feels thereby a greater willingness to re-
lease her grip on her large accumulation
Of reserve; while the French Government
seems to have matters we'll in hand with
its striking laborers and troublous factions
Of one kline or another Finally, the entire
situation has unquestionably derived and
must continue to derive encouragement
from the immense and ready display Of
generosity and financial resource made
throughout the country after this great
catastrophe. A very dramatic and in
spring sight was that movement Of relief
trains to the Pacific COAST The money
subscriptions for The sufferers, not to in
clude in the reckoning the vast ~outpouring
of supplies Of every description, reached
unparalleled before in the worlds
history; and all this was poured out of
the nations abundance within a few days.
A country that can rise to such an emer-
gency and with such ease and quick COM
mand Of every facility Is "A country that
can, without any suggestion OF undue
boastfulness, be said to be in the very
Of the worlds progress and where
prosperity has set its heel.
Discussion concerning tho disaster and
its results was absolutely the only visible
influence of the week. The re-
lusal Of the directors OF the Bank OF England
20 raise the discount rate Of their insttu-
tlon n the continued parleylng between
the anthracite operators and their men
some little attention, but they
were, in reality, hardly thought of. The
reduction, or apparent reduction, in the
Consolidated Gas ~Company's dividend rate
TO 4 per cent. seemed to be an event that
had been entirely anticipated, and the United
Steel Corporations splendid report
Tor the March quarter passed almost I'M
noticed. In the rebuilding OF San Fran
cisco the use OF structural steel and iron
shapes must play a very large part, and
even H. as some OF the trade journals say,
here has been an exaggeration OF the
OF materials that will be used in
his construction, the additional consump-
ion OF steel and iron products that il neces-
must still amount to an important
factor; nor can the work of renewing
he city take place without an enlarged
lse of copper products of every kind. A
natter that no doubt accelerated the de-
tendency of prices of stocks during
he week was the continued heaviness of
he bond market and the relatively large
all in the price OF some stocks of the great
companies where it is known that
lew security issues are impending. New
took and bond ISSUES are at the m
admittedly difficult of sale. and many of
'ur railroad companies are resorting to
he expedient of selling short term notes
It a high rate of interest in order to obtain
unds. 1t is extremely problematical if
here has vet been any considerable lioui-