The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1896-11-07
EFFECT ABROAD.
Result of Election Causes Re
neWed Business Activity.
Business in England Has Been
Noticeably Benefited.
DON'T FEAR M'KLNLEY.
Think a PrOhibitive Tariff VIII
Not BE Re- Enacted.
Merchants Prepare to Sell Z.
S. Much Goods.
DON'T FEAR M'KINLEY.


Copyright by the Associated Press.)
London. Nov. THE Associated Press
has commissioned a number Of compe-
tent observers to make inquiries in var
ious business circles in London as to
what effect the election of Mr. Mckin-
ley as president of the United States
has had on the business Of London
Reviewing and summarizing the re-
suits of these inquiries it is shown the
election has had a most favorable eff
feet on financial and commercial inter
ests here The universal rise of values
in all markets here demonstrates TINS
The buOyance is partly due to a react
ion from the strain Of anxiety Wnlcn
has been created in all circles by the
American campaign
lit seems evident also the rise of val
ues in English markets is partly due to
q belief which has gained currency and
which is based on cable advlces from
the United States that while a some
what higher tariff schedule than the
present one is likely to be enacted, Mr.
Mckinley will not resort to the ex-
IRENE protection policy which has gen
orally been attached to his name.
There is a feeling that an era of com
merce is about to begin.
The rise in the prices of American Sc
curities on the exchange has been all
along the line. Notable Instances are C.
N. and St p. which is 81 higher com
pared with the eve of the elections
Louisville is 71ac higher and n. y. @.
1ac. The stocks of re0rganized Amer1-
can roads are in s good demand as the
higher priced shares The chief bust
ness has been done in Atchlson.
1t is said also there is an immense
amount of British capital awaiting in
Vestment in the United states. Some in
surance companies, it is announced. are
prepared to invest 2200, 600 or 8 SOC. 600
each Isl, GOO, 0OO to ST., 500 GOOD in Amerlca
mortgages. The Times remarks on this
point that while the European investor
viii not take American securities blind
". he viii be much more willing to in
vest than under the former conditions.
The Economist notices with surprise
that there has been an increase in the
European loan. Large estimates are
given Of the American orders, orders
which have already been received since
the election. The dry goods business
has been recently Of moderate proper
tons but the Manchester market now
expects a squirt in American trade.
Large shipments for America were on
November 4 contracted on the condition
that they should be cancelled in the
event Of Mr.. Mckinley's defeat
During the recent business depression
cOnSignments were almost as rare as
the IA bled dodo but they are now fall
ing like mama in the desert The proba-
bility of a rise in the American tariff
does not come into consideration for a
moment, the prospect Of Improvement
dWarnng any more remote cOntingen-
Cies
The cutlery trade entertains hopes Of
American
which has lately been much stagnated
but which is improving already, nOta-
bly, at Sheffield, where American ad-
vices have given hope of an improved
business for another couple Of years, es-
pecially in the larger industries.
Reports from Birmingham are that
a strong tone and more disposition to
do business prevail in all departments
there
Unmarked iron is from p to a shill-
ing higher than last week, pig iron has
improved from Cd to a shilling The
steel trade has not been affected vet.
though there is a good demand owing
to the excessive production. The wool
industry has experienced d decided i'm
petus and better spirits are manifest all
around amongst those engaged in that
industry An upward movement in
prices is reported at Bradford, where
prices for all classes of woods hardened
on the improved inquiry The yarn
spinners have already protected them
selves against dearer raw material by
raising their prices. in some cases
penny a pound. The makers Of coatings
and Innings for the American market
are confidently preparing for a big bust
ness
In Nottingham great hopes are placed
upon revival of the American inquiry
for lace The hosiery trade, which has
been Inactive now shows signs Of re
vival. Mr. McKinley's majority has re
established confidence and there has
been an active market at Dundee since
Wednesday, prices especially for the
fine jutes raising quickly and showing
q marked Improvement.
The South Wales iron market is al
ready showing noticeable advances. Pig
iron warrants rose Sd on Wednesday on
the signs Of renewed activity at the iron
and steel centers- The copper market
has shown a better tone since the cleo
ton, ana IT IS expected the result VIII
make further fnrOad on the already
small stock Many transactions recent
ly entered into were open to cancelling
"a n
Prices are now rising and the stocks
in railway warehouses at Birmingham
which a few months ago were 6. 900 tons
are now almost depleted, while little
American copper is being offered owing
to the demand for home consumption in
the United States.