The Pacific commercial advertiser. [volume] (Honolulu, Hawaiian Islands) 1885-1921, 1899-03-30
The R0thSChildS to Establish a
Bank at San Francisco.
DEVELOPMENT OF PACIFIC
Capital of 100000 TO Sc PAID
Up-Edward Poiiitz Mentioned
as an Official.

SAN FRANCISCO. March pa re-
port is current in local financial circles
that the Rothschilds intend TO establish
great banking house in san Fran
cisco. Those who are interested in the
project are keeping their c0unsels a
secret as far as possible, but few de-
tails of the project have become public.
The kings OF the worlds finance, as is
well known. have large mining inter-
ests on the Pacific Coast. and are also
reported to be largely represented in
the recent development OF the sugar
plantations of the Sandwich Islands.
If the Rothschilds do not own in full
certain immense mining properties in
Mexico, British Columbia and Alaska
they are supposed to control them. as
we'll as to have large amounts of cap
ital invested in some of the California
mines In addition, they are currently
reported to have entered the Hawaiian
field since the annexation of the
Islands. and to them is attributed in
some quarters the late wonderful de-
velopment of the sugar interest in that
group, and, inferentially, in San Fran
cisco. The object in establishing the
bank in this city is to gather together
all of these interests and center them
in this city by means of a great finan-
-, -arI he In. n
situation to take full advantage OF the
other developments on the Pacific
brought about by the new political
conditions on both shores of the great
ocean, as well as in the Philippine
| Islands.
The Rothschilds never do things by
| halves, and their bank, if it be estab-
| lished in San Francisco, will be pTovid-
ed with an immense capital; S5.O00.OOO
| is the figure stated. This amount will
not be only on paper. but will be paid
up in full. The proposition has taken
such form that the managers of the
institution. it is reported. have already
| been selected in the persons OF the
members of the firm of Edward Pollitz
& Co, who have so successfully placed
several large sugar plantations on the
| local market of late. The story goes
| that Edward Pollitz is to be the out
side manager. and his associate. Henry
| st. Goar. is to be the resident and
| financial manager, both under very
| large salaries. There is reason TO be-
lieve that this statement of the selec-
| ton of the Rothschilds as their local
banking representatives is well found
ed. Edward PollitZ is now absent In
Honolulu and does not yet know OF the
offer to be made to him. while Henry
st. Goar will neither affirm nor deny
that he has received an offer for his
partner and himself to take charge OF
the five-million bank
No contract has yet been signed. IL Il
said, for the reason that Mr.. St. GoaI
will not act, even in his own behalf
until Mr.. Pollitz has been consulted
and it may be stated as a fact that the
acceptance or rejection of the PROPOSE
ton will be made jointly by the two
gentlemen interested. The chances
seem to be that they will not refuse the
flattering and remunerative PROPOSE
ton of the great financiers. The bust
ness to be done by the proposed Roths-
child bank will be that of regular
commercial bank. with dealings in
stocks and bonds of every description
| Recent private advices from New
York announce that Drexel. Morgan 4
Co. of that city. will in the near future
establish a bank in this city. The bus
mess of the new bank will have special
reference TO San Francisco's enlargins
commercial traffic with the Orient. As
is well known, silver is the money
medium of trade in the Far East. and
the new bank will engage extensively
IN handling Mexican dollars and silver
exchange. 1t is reported that the can.
ital will be $1,000. 900. nearly all OF
which has been subscribed in New
York.