Source type: magazine
Document type: news column
Document title: “Financial”
Date of publication: 28 September 1901
Volume number: 29
Issue number: 1213
Pagination: 619-21 (excerpt below includes only page 620)
|“Financial.” Bradstreet’s 28 Sept. 1901 v29n1213: pp. 619-21.|
|McKinley assassination (impact on economy); stock exchanges; Theodore Roosevelt (assumption of presidency: public response).|
|William McKinley; Theodore Roosevelt.|
|The following excerpt comprises two nonconsecutive portions of the news column from page 620. Omission of text within the excerpt is denoted with a bracketed indicator (e.g., [omit]).|
New York Stock Market.
Somewhat greater activity has prevailed this week, but the augmented transactions were mainly at the expense of prices. The stock market has entirely recovered from the shock caused by President McKinley’s assassination. The manner in which Mr. Roosevelt has adopted the same policy as his predecessor, and the conduct of public affairs upon precisely similar lines and through the same officials, has prevented the change in the executive office from exerting a disturbing effect on business or finance. The influences which have affected the stock market have partly related to monetary conditions and partly to the position of certain stocks and stock-market interests.
It is, nevertheless, believed that large interests have been sellers of stocks. Considerable amounts of securities were bought by the various pools and financial houses in order to support the market when the assassination of the President caused public selling and rendered a severe decline probable. It seems that these holdings have been marketed, and that the position of the money market has rendered the big interests unwilling to attempt any active manipulation calculated to advance prices. Public interest in speculation is certainly at a low ebb, and it seems impossible to enlist active support for bullish movements.