The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1896-11-05
Wild RUSH TO BUY
FOLLOWED THE ELECTION OF
M'KINLEY ON THE LONDON
STOCK EXCHANGE.
INTERVIEW WITH BAYARD.
THE DOMINANT FACT IS THAT ALL
REPUTATION HAS BEEN RE-
PUDIATED.
AS NATIONAL DEMOCRATS VIEW 1T
EckIes and Hopkins of the National
Party Rejoice at Bryan's Defeat,
Not McKinIey's Victory.

LONDON, Nov. 4.-The election of
Maj. Mckinley to the presidency OF
the United States had a marked ef-
feet upon American securities here to-
day Business on the stock exchange
opened with a rush to buy. Mllwau-
kee and Louisville led the advance
quickly followed by the entire list at
advances of 81 to Sc which sent the
brokers flying hatleSs in every direc-
ton to join in the wild hubbub in
side, while in the streets customers
were coming up by the dozens. Ac-
Cording to the general impression, the
election will result in a rapid diminu-
alton of the gold Withdrawals for the
United States, and there is no doubt
that McKinley's victory favors the
stock exchanges throughout
The eStminiSter Gazette states
with the election of Mckinley a great
scare vanishes for the moment. But.
while the perils of free silver are
avoided for the present, the perils of
protection and capital, in their more
extreme form are to be encountered.
Putting out of sight the results to this
country which must follow fresh ac-
cess of McKinleyism, no one who is
friendly to the United States can view
the prospect without alarm. If the
tyrany Of the commercial and financial
corporations is not abated there must
be a growth of Populism and an ag-
gravation of ill-feeling which, when
the next struggle comes, will threaten
the whole country.
On the Manchester stock exchange,
business opened strong and active
throughout, and especially in Ameri-
cans. At the Baltic and on Mark
Lane business opened with the same
confident feeling that there would be
an increase Of business owing to the
result Of the elections and many
operators in wheat, who had waited
during the last few weeks to learn
the result, began this morning to
operate. The market stiffened immed-
lately and good business was done at
cd to Is advance.
U. S. Ambassador Bayard received
last evening from the London office
OF the Associated Press dispatches re-
garding the election. A reporter had
an interview with Mr.. Bayard today:
1.-The keynote that rises above the
confusion and excitement and rejoices
my ear is that the people of the
United States, guided by the instincts
of patriotism and safe preservation,
regardless of past party affiliations,
have Enthusiastically repudiated repudi-
alton in any form and instructed
those who seek official power that they
must at least assume a virtue if they
have it not and that public and priv
the reach of the jackals of this CEN
turY."
The Evening Standard makes this
statement: Although Mckinley Is the
champion of the fiscal policy designe
to close the ports of the United States
to British goods, there can be no doubt
that his defeat Of the free silver canGi-
date is a matter of satisfaction in this
country,
In a late edition the Westminster
Gazette says The brokers found
themselves overwhelmed the first thing
this morning with orders from Ameri-
can dealers to buy in their behalf. Suci!
an enormous amount of business has
not been done in the course Of so brief
a period since the days of the mining
boom, and it is not only from the
United States and specula-
ors here that the demand for Ameri-
cans came. A very large business in
deed was done in these securities il
foreign markets, especially Paris and
Brussels.
The Bimetallic league tomorrow viii
Issue a manifesto claiming that Nc
Kinleys election is a victory for in
ternaticnal bi-metalism and quoting
the money plank Of the st. Louis plat
form. On the Glasgow stock exchange
all induStrials were strong on the re
ceipt of the election news in the United
States and iron ship plates sold a
115S per ton, the best price in years.