The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1901-09-15

business men of Salt Lake are bowed
in grief over the tragic death of Pres
ident Mckinley. they are at the same
time confident that the business of the
country win not suffer any permanent
injury as the result of the crime. In
brief, they hold that the business Of
the nation is on too firm a basis to be
affected by the death of any one man,
even the president; that there will be
no radical change in the policy of the
administration under President Roose-
welt, and that the large financial insti-
tutionS Of the country have discounted
the effect of the presidents death dur
ing the week in which he was battling
for his life.
w. 5. Mccormick, the head of the
banking firm of Mccormick & Co, said:
The only thing 1 expect to see affect
ed by this tragedy is the stock mar
ket and the effect there will be but
temporary. There will be no stock ex-
change in Boston and New York today
and on the day Of the funeral and this
Will minimize the effects even in this
branch Of business There will be no
depressing effect on business in gen
eral, except for a few days. while the
people are partially stunned by this
terrible blow struck at their free in
situations through their president. 1
look upon, Mr.. Roosevelt as a StronS
firm man; good man and a man OF
good judgment. He will make a good
president and will command the con-
hdence of the people"
Event Was Anticipated.
John Z. DooIy of the Wells, Fargo
& Co. bank-TEe death of President
Mckinley should have no injurious eff
feet on business. The time that has
elapsed since the assault was made has
enabled the people to anticipate the
sad event. Mr.. AIcKinley's successor.
Mr.. Roosevelt, has been many times
tried and never found wanting. He is
a Ern
judgment and enjoys the confidence of
the people, irrespective Of party.
l.. s Hill, president of the Deseret
National bank-The effect on business
will be but temporary. There is a class
OF men who Will depreSs stocks for the
purpose of making money out of the
calamity, but general business will not
be affected.
w w Ritter, president of the Deseret
Savings bank-I don't look for any-
thing serious in the way of a business
disturbance. There viii be an increase
or conservatism for a time, but that
Will be all Mr. Roosevelt is inapulsive,
but responsibility sObers a man, and
president.
Elias A. Smith of the Deseret Saw
1ngS bank-There will be no serious
business change. Mr.. Roosevelt has
the confidence of the people. and the
effect of the presidents death on bust
ness has been discounted for the past
week, anyhow.
George NJ. Cannon, cashier of the
lions Savings bank-The death of
President Mckinley will not affect
business at all in Utah, and I look for
no bad effects any place The policy of
the new president will be conserva-
tive and there will be no radical
change of any kind
No Permanent Depression.
Frank Knox of the National Bank
of the Republic-The. effects of the
presidents death will be depressing for
a time. but don't look for any perna-
nent depression. The effect in Utah
viii be hardly noticeable, but the stock
market in the east will be weak for
a time. I have full confidence in the
l look for no radical change in the
nations policy.
John w DOnnelIan of the CONNER
cial NatiOnal-The great financial in
stltutiOnS of the country have had time
in the past week to prepare for the
change-this is one of the advantages
of the great combinations of the banks
and industrial institutions. The effect
of the change will be very slight. In
Utah it will not be noticed outside of
the mining stock exchange. That has
grown to be an important institution
in this community, and much business
is transacted for outsiders. If these
should withdraw their support for a
time the influence would be felt, but
that would be only temporary.
No Local Effect.
Joseph Z. Game of the Utah Com
mercial e. Savings bank-The death of
President Mckinley is a great personal
aff1iCtiOn to every true American but
great as the calamity is, I think il will
have no marked effect on the money
market. Locally, il will not be felt
at all, as all the banks are in good
condition and are holding reserves far
above the safety mark. Any shrink
age that might occur in mining stocks
would not be felt by the banks, as few
if any, advance money on these Seeuri-
ties. President Roosevelt is a strong
man and will inspire confidence among
the people
Samuel c. Park of the Bank of Com
merce-The death of the president will
cause a depression, of course. in all
business, but it will be temporary
look for no permanent bad results, as
there will be no change in the policy of
the administration.
L. H. Farnsworth Of Walker Bros.
Bank-The country is so prosperous
and money is so plentiful that I look
for no serious results. There will be a
temporary check till President Roose-
welt has been tried; but he made a first
class governor of New York. and / am
confident that he win make good
president.