London Not Worried.

New York Times 100 years ago today, October 7, 1912:
Thinks Balkan War Would Only Hurt Securities of Nations Affected.
Special Cable to The New York Times.
    LONDON, Oct. 6.— After the first alarms, Capel Court took Balkan war possibilities philosophically, arguing that, even in case of hostilities, only securities directly concerned with the belligerent countries would be greatly affected. The panic which displayed itself on the Continental bourses did a good turn to London, for New York took most of the American securities which were sold by the Continent, and thereby lost its grip on the money market here.
    Lombard Street rejoiced in the spectacle or New York selling back gold it purchased in London earlier in the week. It is by no means taken as certain, however, that the American demand for gold will not grow strong again, and, though monetary conditions here are easy enough, caution is the watchword.
    The Statist suggests that the outbreak of war in the Balkans should induce the American Treasury to deposit largely with the banks. "If," it says, "while the war is on, a large amount of gold were taken by the United States from Europe, the American Treasury must see that the money markets would be disarranged, and that it is to the advantage of the United States as well as to Europe that such a danger should be guarded against." The Statist concludes that the American Treasury could deposit twelve or even sixteen millions sterling with banks without discomfort.