The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1896-11-07
EFFECT IN ENGLAND.
British Money VIII Seek Tnvest-
ment I'm the United States.

LONbON, Nov. 6.-The Associated Press
las commissioned number OF competent
observers to make inquiries in various bust
ness circles IN London to what effect the
election OF Mr.. Mckinley as president OF the
United States has had on the business out
LOOK IN England. In reviewing and summar-
izlng the results of these inquiries 1t is
| shown that the election of Mr. Mckinley has
had a most tfyorahfe effect on financial and
commercial interests here. The universal rise
or values in all markets demonstrates this IN
user. rms buoyancy is, perhaps, partly due
TO reaction from the undoubted strain of
anxiety which haA been created in all circles
evident also that the rise of values In Eng
iisn markets as PANTY due to belief which
mas gained currency and which is based on
cable advices from the United States. that
whlie a somewhat higher tariff schedule than
the present oPe, is likely to be enacted by the
incoming congress- Mr.. Mckinley in the
Whlte mouse VIII not resort to the extreme
| protection policy which has generally been
! attached to his name
There Is @5feeling prevalent in the city
mat an era OF long and active business deal
gin on the stock exchange the buoyancy
which has characterized American securities
since tuesday is expected to extend to other
departments. The rise in the prices of Amer
| lean securities on the exchange has been gen
eral all along the line. A notable instance
is chicago. Milwaukee & st. Paul, which is
I "a nishef compared with the OF the
elections, some other advances being SIC and
| III. me stocks of reorganized American roads
| are IN as good demand as the higher priced
/ stocks.
| 1t is said also that there is an immense
amount Oh British capital awaiting investment
| In the United States. Some insurance COM
panles. II Is announced, are prepared 10 in
! vest tZoo,00 or f300, 600 each in American
! mortsases The Times remarks on this point
! tnat while the European investor will not buy
american securities blindly, he will buy the
securIlieS OF sound companies which have
been neglected lately, owing not to their own
oe1ects. put to the general distrust of Amer
| The Economist notices with surprise that
there has been no advance in the United
States loan government bonds. In CONNER
eial quarters in London large estimates are
given OF the value of American orders which
nave already been received since the election.
The dry goods business has recently been CT
moderate proportions, but the Manchester
market now expects a squirt in American
| trade. Large shipments for the United States
were until Nov. 4, subject to the condition
| that they should be Cancelled If Mr.. Mckinley
4 forward.
| The traffic canvassers for the American
steamship lines are already feeling the
change in this respect. During the recent
most as rare as the tabled dodo, but they
are now falling like mamma in the desert.
Fhe probability of rise in the American
/ tariff does not come into consideration for
moment in this department, the certainty
of immediate Improvement dwarfing any more
remote contingencies.
| AhO OutAC1y eIhuo eHtefldInS SiIHlldr hopes
Of revival of their American business, which
| lately has been stagnated but which is i'm
| proving already, notably at Sheffield, where
/ American adyices have given hope of an i'm
| proved business for another couple CT years
| especially in the lighter industries. The de-
mand for the material used in the cutlery ard
plating trades is also unusually great.
| In the iron market the effect Of the election
| of Mckinley is already being felt. Reports
! received from Birmingham that strong
tone and more disposition to do business pre-
rSad iron
| is from half crown to five shillings higher
than last week; pig iron has improved from
| I'd to q shilling. The steel trade has not been
affected yet, although there is good demand,
| owing 10 the excessive production.