Evening bulletin. [volume] (Honolulu [Oahu, Hawaii]) 1895-1912, 1900-04-28
THURSDAY, April 26,

( THURSDAY April &c.
inquiries made among those inter
-sted in stocks and business men in
general show the feeling to be That the
lsting OF Hawaiian plantation Stocks
n New York, by Edward POLITE, and
he passage OF the cable bill will have
/ most beneficial effect on the COM
nercial and financial affairs of these
Islands.
George Il. Carter said that in all
probability Mr.. POLITE will only list
hose stocks in New York now listed
m San Francisco; these may be follow
ed by the listing of others. The larg-
er the market the better will be the
prices of the stocks listed. It will have
a good effect, If we can let New York
investors have some of our dividends.
me cable, of course, will be ve-y
great benefit to all kinds of business
and will be great help to private in
| terests as well. While he did not lock
for the cable to bring boom, still the
gross receipts would probably he much
larger than anticipated, and the bcne-
fits TO the Islands would be incalcul-
able. The laying of the cable would
directly stimulate the markets here by
putting us in touch with the business
centers of the world
J. II. Fisher, president of the Homo
lulu Stock Exchange, said the listing of
the stocks in New York would have the
immediate effect that the better class
OF our stocks would be bought up there
for the large dividends they will pay.
Communication with the Mainland by
caole cannot have anything except q
beneficial effect. Access to larger
money market would raise the price
of our stocks. We certainly have large
dividend paying properties here and
our securities would be sought after;
this fact would cause prices to 30 ip
When our stocks were listed in San
Francisco II had had a tendency to
raise the prices of those plantation
stocks listed; like effect would fol-
low their listing in New York, which
is great monied center. The success
of the matter would largely rest with
the majority holders here, as to wheth-
er they care to let go of good invest
ments.
|. r. Burns said he believed the list
ing of stocks in New York and the lay
ing Of the cable would make a finan-
cial boom in the Islands which would
be felt in every department of bust
ness. He did not agree with some vino
thought our sugar industry threatened
through competition; all that was
needed now to make new benefits APP
parent, was to get to work under the
new territorial government as soon as
possible.
Will L. Fisher said the Islands were
In nf ~ 81
which should at once be interested
here. Capital was quick to take ad-
vantage of opportunities and there was
plenty of 1t awaiting the action Of
Washington, on the territorial bill, to
seek investment. The chaotic state
of the Islands in the past and present
has had more or less to do with keep.
ing capital from investing here. He
was in receipt of letters by every mail
asking for proper investments, but
they had all been contingent upon the
passage of the territorial bill As soon
as that is passed and the cable laid,
Hawaii may look for wonderful pros
perity. He had great confidence in Mr..
POLITE and with the listing Of our
stocks and the completion OF the cable
the Islands would reap the greatest
financial and commercial advantages.
Harry Armitage said the cable
would make final success of the Pol
litz case. Stock transactions were
now badly hampered by the necessity
Of transacting business by mail. The
cable means large increase in the
stock business. Real estate would also
be influenced and prices would Ed-
vance; but Il was the stock and sccur-
ity market that would be benefited
most. The need of the Islands was
an increase of ready capital and with
the cable this would come. It was i'm
possible now for brokers to carry the
large orders from the Mainland, but
this inconvenience would disappear
with the completion of the cable: then
capital could be transferred at once
from the Mainland to Honolulu and
stocks, paying the largest dividends In
the world given in exchange. This
meant good times and boom in
financial circles.