The Pacific commercial advertiser. [volume] (Honolulu, Hawaiian Islands) 1885-1921, 1898-09-29
OF '83
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 10 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, 1888. according to the
files of the Advertiser and TO dOcu-
ments at hand "a preliminary meet
ing was held to consider the adyiSa-
biHty of forming a stock and bond eX-
change" ]. B. Anterior was called to
preside and P. {. Jones was made sec
rotary. 1t was voted 20 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.
AthertOn. VIM. o. Smith.
A second meeting was held on the
25th 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
ton of officers as follows:
Presidential J. 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 1883 did a 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 $50.
WaimanalO was an active stock. Some
of the others prominent were Haiku,
Hamakua, Waikapu, Makee Sugar Co,
OokaIa, HonOkaa, Hawaiian AgricuI-
turaI, OnOmea, Reciprocity, LaupahOe-
hoe. c. Brewer & Co, now steady at
$500, was $120 bid and $13O asked. Not
much was done in the two railroad
stocks. Inter Island Navigation was
S141 to S145. z. o. Hall & Son sold
at above par right along. KOlOa and
XiIaUea 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 E. 2.
Adams. J. H. Patty, Henry May, A. S.
Hartwell and T. r. Foster were deal
ers. Other names seen are: John
Fowler, G. BOlte, A. H. Spencer, A. H.
Smith, A. LOwenberg, w. H. Bailey, c.
Brewer & Co., F. NJ. Hatch, IT. A.
Widemann, w. R. Castle, c. r. Bishop,
d. F. Dillingham;, F. w. Macfarlane,
JOS. Brewer, S. NJ. Damon, w. H. Read,
w. o. Atwater, Geo. J. TheobaId, 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 well to have the
fullest and most complete showing of
their transactions. The writer is in
formed by a gentleman who was a
of the first exchange that
every sale made between boards was
reported This is not done now, as the
is assured on most excel |
Lent authority. Just why some of the
brokers of 1898 fail to report transac-
tons 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 at |
all is Of course an error.
This list includes, with the officers |
given above, the complete. membership |
IF the first exchange:
Executive COmmittee-W. G. Irwin. |
P. G. Jones, H. May, J. H. Patty, F. A |
Schaefer.
Arbitration Committee. B. Ath- |
erton, Theo. H. Davies, J. F. HackfeId |
Other members were: Chas. R. |
Bishop, W. R. Castle, S. B. Dole, A. G. |
Ellis, J. Lyman, H. r. MacfarIane, L. |
A. Thurston, S. G. Wilder.
The sessions of the old board were |
leld every Wednesday at Il a. m The |
Exchange was operated for several |
months