The Hawaiian star. [volume] (Honolulu [Oahu]) 1893-1912, 1900-05-10
THE EVE Of A BIG BOOM.
POSITION OF HONOLULU AT THIS
DAY.
An Immense Lot Of Money to Go Into
Circulation in Short Time-One
Flnancier Says $t2,OOO,OOO.

Financlers and the better students
Oh UusIness CUnCeue tnat uonoIuIu lS
ON the euge OF a tremendous business
Doom. II IS even preuIcIeu tnaL the
nVely days of Marcn, 1893, VIII De dup
heated IL not surpassed. Inere is AN
almost teVerlsn Ieeilng OF an carry
rush of the buns upon AL lines of pusi-
ness ana that money Will be plentlIul
as 1t never was before.
several things comDIne to bring this
about. First OF all is, of course, the
passage Of the Hawanan bill and the
nnal and absolute assurance of conf
pIete stability. This of itself would
ordinarily cause a boom. AS it Is,
even with the recent plague epidemic,
there is certain to be in the immedi-
ate future a rush of mainland capital
to the country. Eastern capitalists
have simply been waiting for wnat has
now occurred. Colonel Macfarlane, Ed.
POLITE and others are already on the
ground over there; ready to turn the
tide investment seekers to Honolulu.
On top of this comes telegram from
President Mckinley approving the bill
lately passed by the Council of State.
This makes available over s., 1000, 900 adj
ditional money, a large part Of which
will go into circulation at once. II,
tact a considerable item in the bills
which will now be settled.
Again: Secretary Gage announces
that within forty-five days the Wash
! ington government will call in the $4.-
! 100000 Of bonds assumed by the United
| States and pay for them. Probably
! 81, 900 900 of these bonds are held by
! Hawaiian people and it is conservative
estimate that $2,000000 are in the ISL
ands at this time. Certain it is that a
! large part of these can be taken up at
once under their own terms and the
| balance by compromise. Out of the
deal it seems probable that nearly or
| quite $2,O00,000 will be returned to the
people in this way. AS the investors
/ in bonds are usually the wealthy, who
| wish to keep their money out all the
time, other bonds, stocks and invest
ments will come into heavy and siren
uous demand.
Added to all this is the near approach
of large dividends to be paid by the
plantations. This will come in June and
July. In view of the settled condition
of things none of the plantations will
hedge but will pay promptly and as
| largely as possible. Some of the plan
tations will pay the last of this month
1t is impossible to approximate the
sum to be distributed in the next few
months but it will go into the millions
The money will fall to men all the way
from the banker to the candle sticH
maker
In connection with this same matter
comes reports from Broker Pollitz, who
is now in New York securing orders
for Hawaiian securities. that fnan
ciers are greatly interested and that he
q meeting with unexpected success
AS five per cent (rate of Hawaiian
bonds) is considered eXorbitant inter.
est by Secretary Gage it is not hard t.
guess the result when Hawaiian SUI.
gar stocks appear in Wall street.
Altogether, the situation seems mos
encouraging One financier said thi.
morning that S12,OOO.OOO would be IL
circulation in Honolulu this summer
This is big sum, but he had figures
to show it.