The Pacific commercial advertiser. [volume] (Honolulu, Hawaiian Islands) 1885-1921, 1898-08-25
FOlT City Brokers Quite Agree
With Mr.. P0lIitZ.
WOULD Be MORE SATISFACTORY
Increase of Business Certain-San
Francisco-Now in Order for
Someone to Lead.

The interview with Edward PolIitz
on the subject of a Stock Exchange
for Honolulu, published in yesterdays
Advertiser was the one topic of
thought and discussion among brokers
during the day and created general in
terest and comment among business
men and investors. Lots of money is
pouring into stocks every day. There
is great deal of idle capital in Homo
lulu. The unsystematic state of val
uations is the cause of slowed money.
The condition of things is unsatisfac-
tory to brokers, sellers and purchasers
of stock. All are working, in a meas
ure, in the dark.
suggested itself before 1t was i'm
perative in Independent Hawaii. At
that time one broker thwarted the
idea. He was opposed to it because he
had a big trade and could get along
without it. With annexation, however,
a new phase appears. Hawaiian stocks
can no longer be confined to the Homo
lulu market San Francisco and New
York money will demand them. There
must be a stated, positive daily valu-
alton here. 1t must be established by
Change. No broker or hui can do it.
When the cable comes the figures will
be posted on Change in San Francisco
and quotations and offers will be
made simultaneously in both towns.
Willard e. Brown, a prominent and
successful broker, said of the idea:
4 have always been in favor of a
Stock Exchange. With the number Of
brokers here and the amount of stock
changing hands daily it is a necessity.
When in the States l studied closely
the subject and am constantly receiv-
ing literature relating to the business
of the most important exchanges.
am convinced that the purpOsed Ex-
change is imperative-We must have
it. As our system now is a purchaser
has to visit every broker in town to
find out what a particular stock is
worth. A probable seller does not
know what valuation TO place on his
property, because he does not know
what the market will stand. Brokers,
operating individually, are frequently
as much in the dark. The situation
sometimes leads to trouble, in which
all parties are innocent A party buys
certain stock of me for $3.50. Ten
minutes later he learns that another
party has bought the same stock from
another broker for $345. Naturally he
thinks I have bested him. What we
want is call board with absolute
selling and purchasing figures.
Let the Exchange be. established. I
do not care to take the lead. There
are older brokers than l here. But
| will help the scheme to my utmost
ability"
Harry Armitage is another enthusi-
astic advocate of the idea. If the cOUn-
try had remained Independent he
thinks matters could have logged along
in the old way. But with annexation
and a cable everything changes. There
would still be difficulty, Mr.. Armitage
thinks, in working abroad without the
cable. Daily figures would have to be
known on time, and where stocks have
to be transferred on the cOmpany's
books there must be prompt eOmmuni-
cation. Mr.. Armitage is thoroughly
alive to the Importance Of an Exchange
and will support the movement most
heartily.
George R. Carter is one of the oldest
and firmest advocates of an Exchange.
He has had experience Of years in
stocks and has perhaps had more prac-
tical experience with Exchanges than
any broker here. He realizes most full
ly the Importance of a thorough work
ing Exchange with annexation and
direct cable communication with money
centers.
w. A. Love, the newest stock broker
expects that when the cable is laid Ha-
waiian stocks will be eagerly sought in
San Francisco. All of the plantations
will be on the board. Valuations there
must come from regularly organized
Exchange here-nOt from brokers or
individuals. II is just as important
that negotiations at this end be on a
business basis as offers from the other
end. Mr.. Love will support the EX-
change idea and feels that there should
be no opposition to it.
Indications last night were that all
of the brokers were willing and pre-
pared TO organize. 1t is understood
that about a half dozen other men,