The Independent. [volume] (Honolulu, H.I.) 1895-1905, 1897-07-31
Continued from LIST page.)

portance of this event, the British
seem just as little disposed to pro.
test as the japanese, who are most
interested. Our interest, also, is
very considerable, owing to our
trade with the group, and especially
to our claim to Samoa. But so long
as Germany is weak at sea, the
German Government cannot assert
its trans oceanic interests"
The Glasgow Herald says: The
news that treaty had been signed
by the United States Government
for the annexation of Hawaii led to
some inquiry this morning for the
per cent, bonds quoted on the
London Stock Exchange. This loan
was for an authorised sum OF f400,-
600, OF which first issue Of 100000
was made by Messrs Matheson Il Co.
in 1886 at the price Of SO per cent.
OF course the United States Senate,
in its superior wisdom, may decide
not to ratify the treaty, as it did in
the case of the arbitration treaty
with this country; but spectators
took the risk of that, and attempted
to buy the bonds. They closed
nominally at 100 to 103 last night;
and the dealers quoted The bonds
this morning los to lis, and the
market was described as buyers and
no sellers. To. night the quotation
is sent out officially as 2 higher on
the day at 102 to los, The inquiry
for the bonds was naturally due to
the cheapness of 6 per cent. bond
at the price quoted, if guaranteed
by the United States Government.
OF course there is the question of
redemption to be taken into account
According to the terms of the loan,
there was TO be no redemption for a
period OF 10 years; but that period
having passed, the loan could now
be redeemed at any time, and it must
be redeemed by the operation OF
sinking fund within 30 years from
the date of issue. In the event of
the treaty being ratified, and the
United States taking over the loan,
sinking fund would no doubt
quickly come into operation-if, in
deed, the loan were not redeemed at
once, for the terms OF the bond allow
for such immediate redemption.
Market operators did not apparent
ly contemplate the probability of
Hawaii, in the event of annexation,
retaining their local government
and their own Indebtedness like
other States of America.
The Spectator says: The Amer
lean Executive has decided to annex
Hawaii, the group of islands in the
Pacific, two thousand miles off,
which we used to call the Sandwich
Islands. The measure is entirely
opposed to the policy of the Union,
which is to avoid foreign possessions
and to common sense, which shows
that in annexing islands the United
States compel themselves to keep
up an otherwise useless Navy. The
high tariff mon, however, need the
support in Congress OF the Sugar
Trust, and the Sugar Trust finds
that the American sugar.growers
who rule Hawaii under the form of
Republic are dangerous compe-
titors. They put pressure, there
fore, upon the high tariff President
and Mr.. Mckinley on Wednesday
addressed a message to the Senate
announcing that he had made
Treaty with the government of Fla
wall, the American sugar-growers
aforesaid, annexing the islands to
the United States. 1t is believed
that the Senate, which loves sugar,
will confirm the Treaty.
The Globe says: Judging from
the protest which japan has made
to the United States, it would seem
that the annexation of Hawaii is not
MI