The Pacific commercial advertiser. [volume] (Honolulu, Hawaiian Islands) 1885-1921, 1885-04-28

guarantees furnished by the National Banks
in the United States, with this difference in
favor of the National Banks, that whereas
the United States Treasury issues 80 per
cent Of their bond deposits in notes to the
National Banks and pays interest on all the
bonds, the Hawaiian Government issues
no circulating medium against their bond
deposit to Messrs. Claus Spreckels * Co.
The security to depositors is identical in
each case; but were Messrs. Claus Spreckels
i Co. to establish National Bank in San
Francisco instead of bank in Honolulu, they
could use 90 per cent Of their bond deposit
in their banking business while drawing in
terest on the same, instead of locking it up
as is done here.
TERMS GOVERNING DEPOSITS AND WITH
DRAwALs.
The terms of deposits and Withdrawals
are very liberal, and should encourage thrift
in the community, by providing for the
profitable investment of small savings. Two
dollars is the lowest amount that will be re-
ceived on deposit in the savings bank. In
terest at the rate of 5 per cent per annum
will be allowed on all deposits up to $4,000,
which is the maximum single deposit, ex-
cept by special agreement. No interest will
be paid upon fractions Of one dollar. To
draw interest, deposits must be continuous
for at least three months. Deposits are
payable in the currency in which they are
made, and will be 80 entered in the books of
the bank. Notice of withdrawal Is similar
to that required in savings banks in the
States.
These are the general features of the
savings bank, and should be widely and
generally known among the native Ha-
waiians especially, whose tendency to I'M
thrift is proverbial. If they thoroughly IN
ders TODD CT comprehended the advantages to
themselves and families, in depositing their
surplus earnings and money at interest in
the savings bank, we are certain that they
would avail themselves very generally of its
adVantag White men, also Chinese and
Japanese will readily recognize the benefit
they may derive from this institution.
THE COMMERCIAL BANK
Will be conducted on the most liberal policy
suggested by sound banking principles and
general experience. Deposits will be re-
ceiYed to be drawn against by checks. 1t
may, however, be as we'll to mention in this
place, that Messrs. Claus Spreckels 4 Co.
stated to us, ia reply to the question, that
while the currency Issue remained unsettled
they would be com PEELED to keep gold and
silver deposit accounts. This informa ton
we give for the benefit of business men.
Banking connections have been established
in the United States, England, Germany,
Portugal, China, etc. Exchange will be
sold on all the leading cities in America,
Europe, Australia, China and India. In all
other respects Messrs. Claus Spreckels & Co.
will conduct a commercial banking business
upon the lines adopted by the leading bank
ing institutions of the world. We congrat-
ulate. the business, labor, and producing
classes of Honolulu and the Hawaiian king
dom, upon this important and signal ad
vance upon existing banking facilities, and
we predict for the new institution a long
and prosperous career.