The Pacific commercial advertiser. [volume] (Honolulu, Hawaiian Islands) 1856-1888, 1858-11-25

WEDNESDAY EvEsrrc, soy. "a, lsss.


WEDNESDAY wi NOY. "a, 1855.
fr . a common saying that I. one luxury creates another.n 50
In Commercial pursuifs, the establishment Of one branch Of bust
ness creates a necessity for another. For years our business
community managed to get along without a bank, but its esta-
bhshment proves to be = great a q convenience to every one that
fsv VII be hund who, aaer enjoying the facilities Afforded by IL
VII transact their business through any other medium The
establishment q q bank has given rise to another and pressing
want viz a fire and marine insurance company-the need OF
which is becoming seriously fit by our principal business men,
nov than We formerly we're : bot Il Is the fact that We ex-
Posei 10 constant risks which few men would presume to incur in
older countries. where insurance can readily be procured, thereby
reducing 70 absolute safety the risks Of doing business
In regard to nres, our community have thus far been singu-
larry exempt nom them : which appears the more strange from
the fsct that most of our stores and dwellings are Of 90 combus-
tibae . nature, and frequently surrounded, or in close proximity,
30 native thaech housA s<fn ve Nc ezposed 20 . couh.era-
ton, and could local insurance be had at a moderate premium,
not only would stores and dwellings be more generally insured,
but also merchandise stock.
It IS in marine risks, however, that the want OF Insurance is
becoming mcs Seriously felt Nomeans now exists Of insuing
our coaaing hees OF schooners, with their cargoes Of produce
constantly arriving and departing The owners Of produce feel
the want Of some provision to insure, for IL is nothing unusual
Tor a coasting vessel to have on board a cargo worth $4,000, and
even as high rs $4,000 has been at risk, sometimes wholly at
the mercy offs native captain and seamen, entirely ignorant OF
chart navigation
So, too, with or packets carrying produce between this port
and San Rrancisco. We believe they are wholly uninsured, and
most certainly their cargoes never are, although the latter are
Nf1NH wv % tftiu <-ofoSO ~ cOruNO CuNiNA- - AS
risk Of the shippers. 1t is very true that the route between
this port and San Francisco Is one of the safest in the world, and
that losses on it are almost u,kpown-but thst is attributable in
a great measure to the skill and superior judgment Of our ex-
Periencoi captains Disasters may, and doubtless viii, happen
1t Il not many months since the Yankee, on one Of her trips
from San Francisco I've beieve) came within a hairs breadth Of
being cut ~amidships by q loaded clipper which crossed her track.
The night Was hazy and the wind fresh, with full sail set by both
vessels, and nothing but the prOmptness Of the officer on the
deck Of the Yankee in hastily putting down the helm saved her,
while the bark was apparently not noticed by the ship till it
would have been too late to have averted disaster. Accidents Of
this nature o some other may happen in future.
Besides the business of insuring our coasters and their cargoes,
as well as the cargoes and vessels between this port and San
Francisco, our growing whaling interests need some pro-
lection Of this kind, to say nothing Of the cargoes OF whale
ships touching at this port and owned elsewhere, and also the
frequent shipments made from this port to home ports There
IS business enough at this port for any responsible company, and
simply within the range of the interests We have referred to
there arc hundreds Of thousands, if not a million, of property
constantly uninsured, on much Of which policies Of insurance
would unquestionably be taken out here
A Fire and Marine Insurance Company, originated, controlled
and conducted by our business men, has become a necessity.
The principles Of fire and marine insurance are too well known
to require recital here. We have had ard stnI have agencies of
foreign companies, which are all very well but it cannot be
expected that the rules which guide the insurance business in
other countries can be adapted to our wants without material
changes winch may not readily be granted on the part Of the con-
ductors Of those companies. A company established here would
obviate these difficulties by adapting its rules to the wants Of
the community which IL is intended to benefit No insuperable
obstacle exists to the immediate organization Of such a corpora
tion, provided its importance is felt and union Of action IS had
on the part Of our business men, No monster organization is
wanted hut a basis should be chosen just broad enough to
meet the existing wants II a capital Of $50 900 is sufficient
to commence an insurance company, let it have 10 greater one.
We hope to see some steps taken soon to establish one, and feel
confident that it would create and concentrate a business which
would be not only seif-supporting, but perhaps profitable, and
certainly q national benefit
wHALKns, AVERAGE, &c-since our last issue we note the
auivalof q whalers Il Honolulu and Lahaina not before report
ed, and revise our average Of this seasons catch
les right .haler reported last week gave. s7,455 12si,2Oo
q right whalers reported this week give = 1910 10000
1.4Tl,7o
Average-6lob bl.- and 1855 lbs bone
Some hfeen OF more vessels are to arrive yet, which will in
crease the general average somewhat
The whale ship John 4 Ehzabeta, we learn, is to be disman-
tied and sold. as she is considered unseaworthy. She is an old
ship and has seen much service.
TnADE, 6c-Thee has been an improvement in trade this week
in some quarters, mostly in the Quitting department, but as
. general thing business is assonishingiy dull for this season Of
the year. Beyond all question, this has been the poorest season
for trade that We have known; many Of the retailers find them
selves with heavy stocks on hand, and their trade quite trihing;
hence some Of them have been unable to meet their engagements
As promptly as could be desired--
The first clipper ship for New Bedford this season, the Sky
lark, cleared yesterday with a fun and very valuable cargo of
oil, bone and sandries-for a list Of which see our export table
The value Of this cargo cannot be much short Of S350,0oo. The
ships Golden Eagle and E. r. ETHets clear on Thursday. The
Danish bark Candaes cleared on Saturday last for Bremen with
= tuiic cargo Oh ol IN "ohe- n4uslp ltansnipulcus iIoiu ~ i1f
and vhalerA
The bark Frances Palmer sails for San Francisco on satur-
day or Monday, aud viii take a fair freight OF sugar. molasses,
and sundnes- She is waiting the arrival of the LiioLhO-
The brig Eoiss arrived yesterday from MendOcino. with a
cargo Of 22 NJ feet Of redwood lumber, mostly dressed, and co
VI shingles This q the first entire cargo Of any size Of redwood
lumber that has been introduced into this market 1t is exten
siveIy used at the coast, and by many preferred to the northern
fir, on account Of its durability and non-itabnty TO shrink. 1t
is also susceptible of aner dressing for clapboards and flooring
than fir, and on this account has been gradually growing in ia
vor N these islands during the rasttx years.
Much Inconvenience has been experienced among the ship
ping this season from the want Of wharfage facilities All the
available wharf room has been constantly occupied, and in many
cases engaged some time ahead. The completion Of the new
Market Wharf, q Substantial structure and a credit to the city,
will 60 far towards relieving the shipping from their present
crowded state --
-FLOUR-Ther has been some little inquiry for best qualities
OF Eastern, with small sales of Haxal a, sls@s14- The stock
Of domestic continues heavy
has been a speculative movement in prime,
and all the stock In market is lodged in two hands. Prices have
advanced during the week about "a y Dbl. 4
LUMBER-The cargo ex 4Eotns is as yet unsold- Shingles
are scarce and retailing at IS p NJ. The Kotas brings 50 n,
and a quantity is expected by the John Marshall.
BREAD-Therea are but few outside transactions this season.
The stock is mostly in agents hands, and shipping is supplied
at regular rates.
FEgD-rhere have been some sales Of oat straw at lie y h;
oats at &c, and barley 1t 13c- ; ~
EXCHANGING quote whalers exchange and bills on San
Francisco at par to per cent premium. Specie viii probably
be shipped away by next packet, as it was by the Yankee.
four correspondents at Laliaina object TO the quotation Of ex-
change in our issue Of the 11th as rejecting on the interests Of
windxard ports referred to, and say, "Our extreme limit has
been a per cent discount, aud that was regulated by the best
information We could get from parties resident at, and through
the press Of Honolulu Il srf
PORT OF HoMoL ULU.-H. T..
ARRIVALS.
IFor full reports Of RAoieships, see list on 4h page.J
Nov. BAN VII sh Carolina, Harding, fun Ochotsk, I'd season,
600 VII, 700 bone