The Pacific commercial advertiser. [volume] (Honolulu, Hawaiian Islands) 1885-1921, 1893-07-01
Sugar.

trifugal, So deg, A; granulated, 90
The sugar market is fiat, and no
local features, except arrivals of Ha-
waIian.
A Havana dispatch of June 18th
saws: The improved price of sugar
mas given the planters of cane great
encouragement. Many sugar estates
aye charging their facilities by put
mo in additional machinery and new
patent burners. Sugar-making for
The season has closed. The statistics
Of the crop of 1893, brought up to the
nst of May, show falling off 14O,-
BOO tons sugar, compared with 1892,
or 20 per cent.
The Pacific Bank Fails.
The Pacific Bank on the northwest
corner of Sansome and Pine streets,
the oldest chartered bank IN the
state" organized in 1864, and the
most widely advertised, did not open
its doors for business on June 23d.
1t has been the first to feel the
financial pinch, and last night issued
The following formal notice:
THE universal and continued con
traction of the money market and the
Ssneral inability to realize upon as
lets have made it necessary for us to
temporarily suspend business
"Depositors will be paid In full"
Senator Stanford Dead.
Senator Leland Stanford, the mil
ionaire, railroad king, and founder
of Leland Stanford, Jr., University of
California, died suddenly of heart
disease at his home IN Palo Alto on
the night of June Goth. A dispatch
says: IN
Leland Stanford was born at Elm
Grove, in New York, on March 8,
1924. His father was a railroad
builder. and it was from him that
Leland got his experience that stood
him in such good stead IN after years.
He reached California In July, 1S52-
For four years he conducted a store
in Michigan Bluff, and in 1856 moved
70 Sacramento and joined his brothers
in a large mercantile business. Then
began his political career and the be-
ginning of the accession of wealth
Which reached the magnificent sum
IF S50G00,000.
The objects OF the great university
founded by the deceased, will be car
red ont b. his widow, under the adj
vice of the senator's warm personal
friend, Steven Gage. The deceased
eft an estate valued at from 3O,OOO,
BOO to S7O,O00,000, and had had an in
come of 81, 100000. The remains will
De placed in the great tomb at Menlo
beside those of his son. In his death
California loses its greatest philan-
ihrophist.
The Financial Pinch.
The march of the financial panic
mas steadily proceeded from the east
10 the west, and has been worse IN
he latter section than in the old
,tates. Banks and manufacturing
Institutions have gone to the wall by
he dozens, owing to the fact that
EAST amounts of money have been
withdrawn by timid holders and
ocked ND from circulation. Cali
sornia has been the last to feel the
pinch. it is here now and Is creating
havoc in the southern part of the
tate. One has suspended in River
,ide. two in San Bernardino, one IN
Auaheim, and within the past two
laws, two in San Diego and six in
Los Angeles. 1t appears they were
all solvent, but depOsitors became
heedlessly frightened and forced
he institutions to close before they
could gather in their resources Ihe
leading ones will probably resume
business shortly
The causes for the financial strin'
yence throughout the United States
are said to be the heavy export OF
gold, the uncertainty Of the coming
action of the Cleveland admlnlstra
lion with regard to the tariff laws
and the operations of the Sherman
silver purchase law. The result Is
there is a general demand for an
extra session Of congress to settle
The two latter questions. Cleveland
seems to be unable to grasp the stu
alton and Is being severely crltl
eized for his do nothing policy Wher
she country Is on the verge OF imam
eial wreck
In New York and Chicago the ex
eitement Is decreasing but the STRAIN
On business is yet very great. LII Il
announced that the flow OF goie
from Europe to this country mas
II egun.
Lizzie Borden Acquitted.
The famous Borden murder case
in which Lizzie Borden, OF tal
River, Mass, was accused of Staying
her father and stepmother with
Ratchet. and which has occupied thu
attention of the whole country To-
many months past, has finally beer
,ettIed. so far as the guilt OF tn
Eoman - concerned. The trial ha
seen in progress several weeks ant
was expected that the State had
.ase which no defense could with
,tand but, when the evidence wa
ali in. it was found that the govern
ment had proved nothing OF II
charges. and the jury, in accordance
nth the instructions of the court
promptly acquitted the defendant
he crime is one of the most mys
ions in the annals of this country
the best detective ability ma
Nv. n unable to unravel 1t or get
clue, Notwithstanding 1t wa
he untitled in broad daylight IN