The Hawaiian gazette. [volume] (Honolulu [Oahu, Hawaii]) 1865-1918, 1898-09-30
EXCHANGE OF SO
Organization Of Brokers Here Many
Years Ago.
There was a Call Once Each Week.
Securities and Dealers Then
Best Known.

The Stock Exchange now operating
here Is the second to exist in Hawaii.
This statement will surprise a good
many people, even some OF the brok-
ers, who suppose that the present or
ganization is pioneer.
On July 20. 1883, according to the
files of the Advertiser and to docu-
ments at hand, "a preliminary meet
ing was held to consider the advisa-
bility Of forming stock and bond ex-
change" ]. b. Atherton was called to
preside and p. G. Jones was made Sec
rotary. 1t was voted to establish the
exchange and to have calls once each
week. These gentlemen were made a
committee to prepare a constitution
and bylaws: A. J. Cartwright, j. b.
Anterior, VIM. o. Smith.
a second meeting was held on the
25tk Of July, at the Office OF the Plant
ers' Labor and Supply Company, over
the store of J. w. Robertson & Co." Or
ganization was completed by the cleo
tion of officers as follows:
Presidential. ]. Cartwright.
Chairman-E. p. Adams.
Secretary and Treasurer-H. Remen-
schneider.
Assistant Secretary-P. c. Jones.
Reports and books found show that
the Exchange of 1888 did pretty fair
business. Stocks were listed very gen.
orally, there being no less than thirty
seven corporations represented on the
board, besides a number Of plantation
and Hawaiian Government bonds. Gov
eminent bonds Of the par value OF 500
each and drawing six per cent interest
are shown as being sought at $S5.
WaimanalO was an active stock. Some
of the others prominent were Haiku,
Hamakua, Waikapu, Makee Sugar Co.,
Ookala, Honokaa, Hawaiian Agricul-
tural, Onomea, Reciprocity, Laupahoe-
hoe G. Brewer 4 Co., now steady at
$500, was $120 bid and $3.50 asked. Not
much was done in the two railroad
stocks. Inter Island Navigation was
Sal to S145. L. o. Hall 4 Son sold
at above par right along. Koloa and
Kilauea were excellent sugar stocks.
Perhaps more interesting than the
stocks, is retrospect Of the men who
were in those days buying and selling.
VIM. o. Smith was one Of the leading
brokers and had in time for his part
ner l.. A. Thurston. A. G. Ellis was a
broker and had his Office with L. r.
Adams. J. II. Patty, Henry May, A. s.
Hartwell and 7. r. Foster were deal
ers. Other names seen are: John
Fowler, C. Bolte, A. II. Spencer, A. II.
Smith, A. Lowenberg, w. H. Bailey, c.
Brewer & Co., F. NJ. Hatch, II. A.
Widemann, w. X. Castle, c. II. Bishop
b. +. Dillingham;, +. w. Macfarlane
JOS. Brewer, S. nj. Damon, w. H. Read
w. o. Atwater, Geo. ]. Theobald, OF
San Francisco, c. NJ. Cooke, H. f.
Poor, r. Stirling, T. H. Hebron, Alex
Campbell, Bruce Cartwright.
In the days of 1888 the brokers were
anxious to prepare and correct lists for
the newspapers and as we'll to have the
fullest and most complete showing OF
their transactions. The writer is in.
formed by gentleman who was a
member of the first exchange that
every sale made between boards was
reported. This is not done now, as the
Advertiser Is assured on most excel.
lent authority. Just why some OF the
brokers of 1898 fail to report transac.
tions is not clear, but most likely
there are good private reasons. The
rules OF the Exchange do not compel
between board sales to be reported
The belief of the public that a blank
sheet indicates no stock business al
all Is of course an error.
This list includes, with the officers
given above, the complete membership
of the first exchange:
Executive Committee-W. G. Irwin
p. c. Jones, II. May, J. II. Patty, +. A
Schaefer.
Arbitration Committee. B. Ath.
erton, Theo. Fl. Davies, J. +. Hackfeld
Other members were: Chas. X
Bishop. W. r. Castle, 8. B. Dole, A. G
Ellis, J. Hyman, II. r. Macfarlane, L
A. Thurston, s. G. Wilder.
The sessions of the old board were
held every Wednesday at II a. m. The
Exchange was operated for severa
months.