The Pacific commercial advertiser. [volume] (Honolulu, Hawaiian Islands) 1885-1921, 1896-07-14

Honolulu is such wee bit Of place
in some respects that man or woman
can do nothing that his neighbors will
not learn of and talk about. 1t some
time happens that rumors are circulated
about individuals that are not strictly
true, though they may bear the blurred
finger marks of yeracity itself.
One of the rumors which has been
going the rounds of Hawaii for the past
three years bears directly upon the
private matters of President Dole. 1t
has been used in different shapes, for
and against the President, but quite re-
Gently it has drifted across the ocean
and is utilized by enemies of the Gov
eminent in San Francisco as sort of
campaign lie. When everything else
failed to show that the Government of
the Republic was not stable, its enc
mics abroad submitted President DOle's
act in sending money to California as
an evidence of his lack of confidence.
A gentleman with some surplus cash
wanted to come to Honolulu and invest
it. He announced intention TO his
friends and they at once tried to dis
suade him. His story to a representa-
tive of the Advertiser is amusing.
81 wanted to come here" he said
'and invest some money, but 1 was
scared out of it. 1 had heard the Gov
eminent was not stable, and that an
overthrow might come at any time; but
1 took that cum granum sails That
long to have any weight with business
men, but when 1 was informed that
even President Dole was sending his
money to California for security rather
than let it remain in Honolulu, began
thinking there might be some reason
for leaving my capital in the United
States until l could investigate"
did you understand that the Presi
dent was sending his money there on
deposit or for investment"
Banking was the word used and
that was what staggered me. Any one
has the right to invest his money, and
strange for a man with the foresight
the President is credited with having.
to put his money into six per cent in
vestments in the United States, when
he could realize more by investing it
here. AS l have said, it might cause
little wOnderment on my part, but l
cannot say it would deter me from COM
ing down here if I was inclined to in
TynS my
said about the money being sent for in
vestment; it is understood in San Fran
cisco that it is on deposit there
'Slathers of it, l suppose" ventured
the reporter. Nov, let me ask if YOU
ever heard that the President has a
brother in California who has a large
family of children? Have you ever
heard that the President has a small
orange grove at Riverside? No! Well.
1 will tell you.
You are probably not aware that
back in 1888 the sugar industry in
Hawaii was big thing; men interest
ed in sugar had more money than they
knew what to do with and this coun-
try was on the crest of a financial
wave of prosperity. MakaweH, Ka-
huku and Eva plantations were start
ed so that men could get rid of their
surplus cash. President Dole was
then all associate justice of the SUI
preme court at a salary that did not
trouble him to get rid Of Nor was it
large enough to permit him TO become
a sugar baron.
About this time there was q boom
in Southern California and d great
many people here were carried away
with the prospects of becoming; rich
through the probable rise in real es-
tate there; thousands of dollars that
came to Honolulu men through sugar
investments went into land over there.
Mr.. Dole was not one of the lucky men
who grew suddenly oppulent through
sugar. but he was human in his wish
TO get in on the ground floor in Cali
fornia land. The Presidents brother,
George, a resident of Riverside, got in
on the boom and held his land. In
1891, the President bought a small
orange grove near Riverside and has
held it ever since. That is the extent
of the Presidents investments in the
United States.
"In addition to President Dole's ex-
penses. which are large, and do not /
leave much of surplus for any kind |
Of investments, he has for years been /
assisting his brother at Riverside in .
the education of his large family of 7
children. The president has no children .
and it has been pleasure to him to I
assist his brother in this way. Outside |
Of this expenditure and the conduct of /
the orange grove which he bought in
1891 he has no investments outside OF
he Hawaiian Islands.
If he had put his money there in
those days. when things were prosper
Ous and he had followed in the foot
steps of ten out of every eleven men
who invested their money there, he
would probably be using every dollar
above what he uses for living expenses .
IL l.; lnln