The Hawaiian gazette. [volume] (Honolulu [Oahu, Hawaii]) 1865-1918, 1899-03-31
ne RalSlllis 10 Establish q
Bart al San Francisco
kvtloPMkNT or PACIFIC
Capital of So 100000 to BE ps Id
up-Ed~ara PolIi,z Mentioned
as an Official

StN lhANAiHlhf MdIth -os-A lt-
mort is current In local financial circles
that the Rothschilds intend to establish
a great banking house in san Fran
cisco. Those who are interested In the
project are keeping their counsels a
secret as far AZ possible, bat 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.
IL the Rothschilds do not own in full
certain immense mining properties In
Mexico, British Columbia and Alaska
they are supposed TO control them, as
well as to have large amounts Of cap
itaI 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-
yeIopment 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
ali of these interests and center them
Ia this city by means Of a great fnan-
cial institution, as well AZ 10 be In a
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 ID" Philippine
Islands
The Rothschilds never do things by
halves, and Their bank, II 1t De estab-
llshed In San Francisco, will be proyid-
cd with an immense capital; $4,000, 600
is the figure stated. This amount will
not be only IN paper, but Will be paid
up In fuG The proposition has taken
such form that the managers OF the
institution, II IL reported, have already
been selected in the persons Of the
members OF the firm Of Edward POllitz
IL Co, who have SO successfully placed
several large sugar plantations on the
local market Of late. The story goes
that Edward POLITE Is 10 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 10 be-
lieye that this statement OF the selec-
tion OF the Rothschilds as their local
banking representatives. Is well found
I'd. Edward POLITE Is now absent In
sionolulu and does not yet know Of the
offer TO be made TO him. while Henry
-. Goar will neither affirm nor deny
that he has received an offer for his
partner and himself TO take charge Of
the fiye-million bank.
No contract has yet been signed, II Is
said, for the reason that Mr.. ST. Goar
will not act, even in his own behalf,
until Mr.. POLITE has been consulted
and II may be stated as a fact that the
acceptance or rejection of the PROPOSE
lion will be made jointly by the two
gentlemen interested. the chances
seem TO be that they will not refuse the
lion OF the great fnanciers. The busi-
ness to be done by the proposed Roths-
child bank will be that OF q regular
commercial bank. with dealings in
stocks and bonds Of every description.
Recent private advices from New
York announce that Drexcl, Morgan e.
Go. OF that city. will In the near future
establish bank in this city. The bus
iness OF the new bank will have special
reference to San FranciscO's enlarglng
commercial traffic with the Orient. As
ls 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 cap
ital will be slOO0,OOO, nearly all OF
which has been subscribed In New
York
At the hotel last evening Mr.. POLITE
conrteously declined to discuss the
above. He would only reply that al
this time he could say nothing Of the
matter