The Pacific commercial advertiser. [volume] (Honolulu, Hawaiian Islands) 1885-1921, 1899-03-22
MONEY COMING IN
Another Purchase Of Sugar Stock
for The City,"
1000 SHARES OF HOROKAA
Sold BY Hy- waterhoase & Co. 20
Edward Poiiitz-Some Views of
the Visiting Broker.
1000 SHARES OF HONOEAA

Mr.. Pollitz dipped into a stocss yes
terday. u was his FIRST buy this trip.
He employed Henry waterhouse'& Co.
as his brokers. That firm delivered to
Mr.. Pollitz 1000 OF the shares of Homo
Soa Sugar Company. For this mcr-
ehandise air. Pollitz gave his certified
check ON the local bank OF Claus
SprCckels * Co. for the sum of $50
600. This was the second really heavy
stock transaction ct the year. The
first big one OF 1899 was when Mr..
Pollitz secured IS per cent OF the stock
OF the onome1 plantation. some seven
weeks ago. Right after that Mr.. Pol
li;z purchased In san Francisco half OF
the stock OF paauhau and has since Sc
cured control. II was Mr.. Pollitz who.
in September of last year. delivered Co
capitalists OF Honolulu the majority OF
the stock Of Hawaiian Commercial and
Sugar Company. Including the trans
action of yesterday. Mr.. Pclli;z has In
vested in these Islands for his clients
about $4,000. 900. He will be in town
until the 3ist inst In y few months
he will be back here again. Then.
after the next trip he will take some
Hawaiian securities east. y. san
Francisco nj present Mr.. Pcliitx and
his partner are daily In receipt OF in
quiries concerning Hawaiian corpora
tiOn interests. Hundreds OF letters
come from the East and many from
Europe. What Mr.. Pollitz t. doing
here shows his faith In Hawaii and In
sugar. He says that there Is any
amount OF money In the United States
thay will readily be offered for sugar.
To the mind OF Mr.. Polli:z the public
conveniences for the transaction of
business have largely enriched the
United States. TAKE the case of a
country merchant said he l1sS even
ing. In the old days he might have q
carry stock OF $4,000. now the
means OF communication and OF ship
ment are such that he needs not more
than $4,000 OF stock. The great pro
ducing estates have made many Peo-
pie so wealthy that they 10 not know
what to do with the interest payment
they receive. The securities have been
taken up till a very low rate OF interest
is acceptable. Any good invcstmcn;
bond or stock Is eagerly sought. Euro
pean securities are now held in the
United States. Nearly all OF cur c-Vn
securities have been brought b1cS
from across the Atlantic. New YORK Is
today just as much a financial center
as London.
The history of Hawaiian sugar
stocks on the san Francisco market is
not uninteresting. The first plantation
listed there was Hawaiian Commercial
which had its ups and down tili Sep
tember OF las: year. when the control
passed To Island people. The capital
of the company Is $4,000. 900 and s.
is paid in on the shares now selling a,
SSl.25 and n one time some years aE1
a drug on the market az 10 cents.
Hutchinson plantation. on Hawaii
WiS 4lSlt4 AT san = EAuCa&eQ N Aect
is capital Is S2.5OO.OOO with shares a,
$50. Il paid 80 cents and then 80 cent.
4 month dividends on each share I'll
the Mckinley bill removed the duty o.
sugars going into the United state.
and gave \ bounty on American grove
, sugar. This was extremely hurtfJl
Hutchinson suspended dividends ~
after the passage OF the Mills bill. Thsa
came the Dingley bill. increasing the
duty on sugars oshsr than Hawaiian
TO S32.7O a ton. The prosperity q th,
cane industry here really dates from
the passage OF the Dinsley bill. for Il
= was on tha; occasion thai Republican,
and Democrats alike wen. On record a.
flv0ring q duty on sugar. OF course az
tbs time the Islands had been p.o;sc;
ed % n more or less degree by the Rec,
iprCCity Treaty. Five years ago Hutch.
inson plantation again paid dividend.
and has kept Il M. 4; first {; was Il