Monetary and Commercial English News [excerpt]

LONDON, Saturday, September 14, 1901.          

     The serious relapse in the condition of President McKinley yesterday and his death this morning has caused much grief here, and on every hand we hear expressions of sorrow that your illustrious President should in spite of the apparently favorable progress after all have passed away. The news of his relapse, attended as it was by heavy selling of American securities and the advance in the value of money in New York, has increased the expectation that a considerable amount of gold will be sent from Europe to relieve the money market. It is not anticipated, however, that any untoward results either in the stock market or in the money market will result from the deplorable event which has just occurred, as it is recognized that the United States are in a very prosperous condition, that the balance of trade is largely in their favor and that the States are in a very sound economic condition.
     The Stock Exchange was closed last Saturday when the news of the assault upon the President was received, and by Monday morning the shock had passed away, especially as the bulletins issued by the doctors in attendance had given hope that the miscreant’s intention would not be realized. There was in consequence very large buying of American securities, both on British and German account. Other departments likewise improved, especially British Government stocks and mining shares.
     Generally it may be said there has been an improved feeling throughout the week [. . .].