The Pacific commercial advertiser. [volume] (Honolulu, Hawaiian Islands) 1885-1921, 1898-08-24
STOCK EXCHANGE
San Francisco Man Says
Should Be One Here.
Trading at Present Unsatisfactory
to Seller and Buyer-ExtenslVe
Asking for Island Stocks.

Edward POLITE. founder and now
vice-president of the san Francisco
stock and Bond Exchange, is at the Ha-
waiian Hotel and viii be in town for
nearly a fortnight YET. Mr.. POLITE ar
rived by the Mariposa and is here on
business in his own line. He has been
established in San Francisco more than
twenty-five years, has been in the EX-
change seventeen years. has connec-
tons with all the American and Euro
pean centers of business and is we'll
known in the big financial circles. But
three Hawaiian stocks are listed at San
Francisco. These are Hawaiian,
(SpreckeIsyiLe) Hama and Hutchinson.
There is a good deal of trading in all
Of them and Mr.. POLITE wants TO see
more Island corporations on the call
sheet. He says that since annexation
has been accomplished there is inquiry
from the great American cities and
from Europe concerning Island Securl-
ties and that there is a demand for
them. Capitalists and ordinary buyers
as well look with great or decided faV-
or upon Hawaiian investments under
the new political condition.
Are stocks too high here?' was
asked of the veteran broker.
Not vet" came the reply. There
does not seem to be any booming, any
fictitious valuation. We do not hear
OF any watered stock here and the
property is regarded as substantial. L
should say that stock will here come to
or reach the ten per cent basis. That
/ is, money will be put in readily on the
! prospect or belief or confidence OF get
/ ting ten per cent on the investment.
What is needed here continued
/ Mr.. POLITE earnestly, is an exchange.
/ They can call it what they will, but IN
/ the interest of both seller and buyer
there must be common quotations. l
should think transactions here now
would be very unsatisfactory TO all con-
! cerned; whereas, if there were author
lied statements of bids and asked, bOth
/ holders and investors would know JuS'
what they were doing. 1t is now SIM
NV individual trading and to the eyes
of those having familiarity with Stoch
business has many odd features. 1t i
NOT on a systematic or correct OASIS
I do not cast any reflection on anyone
when | go so far as to say mat Ih'
present method is not quite falf' Ever
/ the brokers SO1IeH. uey NOuhu w
much better were there an eXchang
and there would be much more busl
ness. | assure you. have spoken U
some of the dealers and to many OF III
owners who have large holdings ana al
70 whom | have preached the SuDJec
are in favor of an exchange. When W
started on the Coast the charter mem
hers put in $50 each. Now a seat IN III
exchange is worth $4,000 and we nav
an insurance feature. The calls al
made twice a day and the lowest hgul
Is the quotation for asked. II the g
change is established here our firm WI
take it's chances with others IN "a
Q Francisco on getting share OF pus
ness If the local men do not esta
fish an exchange, it will be done |
- San Francisco men so soon as the CAP
&c laid and the business Will go TO 81
Francisco.
Mr.. POLITE is in conversation d mo
interesting business man and at on
imnresses his caller. Mr. POLITE n
: deep faith in the sugar business
> conducted by the companies here. +
was careful that the Stock and Bol
Exchange should not be COMPOUNDED
anv way with the mining eXchanE
which is we'll known as little else tn
gambling institution. Reference
the daily reports of the Stock and 30
Exchange develops at once that OF
the best securities are listed.