The Pacific commercial advertiser. [volume] (Honolulu, Hawaiian Islands) 1885-1921, 1886-09-01

niger in the fence" If they put in that
4 limit some one would get IL
Hon. Mr. Macfarlane said loan could
not be placed on the London market with
out a syndicate The latter would put
/ them on par with the Is per cent Chinese
/ loan, which was placed at IS If those
bonds were only received at 80 on the mar
ket the syndicate would get badly left.
Hon. Mr.. CIeghorn said he had no idea Of
getting money from abroad. They had
two banks here with good credit. 1t looked
as if the Hon. Mr.. Macfarlane was intim-
ately connected with these gentlemen who
were interested in the loan and expected
to get something.
Hon. Mr.. Macfarlane said he had not ar
| ranged to get one single cent, nor had he
any promise Of anything. 1t would be a
benefit TO have English capital here. If
| they could get the money here, all right;
if not, then they would have TO go abroad.
He understood it was the intention of the
Government TO place a portion of the loan
on the London market If they do they
cannot float it without they pay 5
per cent commission to the syndicate.
Mr. Hayselden said that sugar agents are
paid 21l per cent here and ~ per cent in
California.
Hon. Mr.. Bush-Sometimes per cent
Mr.. Hayslden said he did not see why
these bonds should not command a
premium. If it was right TO pay COM
mission to sugar agents the same argu-
| ment would hold good in this case.
4 motion to adjourn was lost
Mr.. Brown was in favor of the amend
| ment. The credit of the Government was
such that they could not place loan. If
the people of their own country had no
confidence, 1t could not be expected that
people in foreign countries had any. That
was proved by the statement that 81 SOC, 900
had been sent away.
Hon. Mr.. Bush asked if those people
were not trying to get their money back.
Mr.. Brown said he did not know
Hon. Mr.. Bush said that those persons
who had invested their money abroad
were anxious to get it back.
Mr.. Kaulukou moved the previous
question, which carried
The amendment by the Hon. Mr.. Cleg
horn was put and lost.
The amendment offered by His Excel
lency Mr.. Gibson was passed.
Mr. Brown moved to insert the word
"Privy" in place of Cabinet" Lost.
Mr.. Thurston moved to insert at the
end of the section as amended the words
provided, however, that such commission
shall not be allowed for any bonds sold in
this Kingdom or to residents of this King
dom" Agreed to.
The section then passed as amended.
After section had been read His Ex-
cellency Mr. Gibson moved it be amended
by substituting the new schedule of
twelve items.
Mr.. ThurSton said it was hardly proper
for the Ministers to come in at the eleventh
hour and present this schedule. The
members ought to have had some means
of studying it. If they were going to
rush this bill through, as he understood
the orders were, they had better adjourn
and get some supper. The Ministers
could only stick to their places on the con-
dition that the bill was passed to-day.
His Excelency Mr. Gibson said this was
purely one of Mr.. Thurston's imaginations.
He was again bringing in street rumors.
The Ministers were under no apprehen-
sion whatever.
Hon. Mr.. Bush said the schedule was
easily understood, and there was very
little more to do to the bill.
Mr.. ThurstOn thought that a rather re-
markable statement.
Mr.. KaulukOu moved the section pass as
amended and then moved the previous
question, which carried.
Mr.. Dole said it was a most dastardly
thing to move the previous question.
The amendment carried and the section
was passed as amended.
Sections 5, and Z, the enacting clause
and the title were passed without debate.
Mr.. Hayselden moved the vote by which
the enactment clause was passed be re-
considered. Lost
On motion of Mr.. Keau the bill passed
to engrossment and was ordered to be
read a third time on Wednesday morning.
At 5:45 the House adjourned to 10
o'clock Wednesday morning.
TDI. NJ l., foI-a he