The alignment of propulsion shaft systems by the fair curve method has been developed over the past twenty years and in recent years its basic problems have been almost solved. At the present time, studies on introducing actual conditions are being undertaken. In a fair curve alignment, its aim is to achieve a stable shaft system which will be relatively insensitive to misalignment or the influence of external factors such as thermal variations due to the sunshine, speed change, etc. The key point of fair curve alignment is the calculations of reactions in the straight support and reaction influence numbers. The present authors have developed those calculating method by the matrix method of the three-moment theorem. The fair curve alignment is based on the analysis of propulsion shaft system which is assumed as a continous beam on multiple support points. The propeller shaft is divided into several elements. For each element, the nodal point equation is derived by the three-moment theorem. Reaction of supporting points of straight shaft and reaction influence numbers are calculated by the matrix calculation of each nodal point equation. It has been found that results of calculation for the model shaft agree well with those of experiment which had been measured by the strain gauge method. Results of calculation for the actual propulsion shafting of the steam turbine had been compared also with those of Det norske Vertas.