The Honolulu republican. [volume] (Honolulu, T.H.) 1900-1902, 1901-03-24
more mem CAPITAL
HAS BEEN ATTRACTED
PACIFIC MUTUAL INSURANCE CO.
INVESTS IN HAWAIIAN
SECURITIES.
Largely BY Way of Return For Bush
ness Of Million Dollars Obtained
Hereunder New California En-
zctruent.

An important intlmation was given
70 the public yesterday by Clinton j.
Hutchins. agent for the Pacific Mutual
Life Insurance Company This cor
poration has been working for num-
Der Of years to have the California
civil code amended by the Legislature.
no that it might have permission 20
invest its capital in securities outside
Of that Safe. This has finally been
accomplished.
Under the authority thus gained the
first thing the company did was to
purchase some of the Honolulu Rapid
Transit & Land Co.'S bonds and it is
now negotiating for a large block OF
bonds OF the Hilo Railroad Co. Mr.
Hutchins has been instructed to look
up the best conservative Hawaiian
securities for investment II is prob
able that the president OF the com
pany. DR.. Geo. A Moore. will come
down himself within the next six
months to make a personal inyesti-
CATION.
Il am particularly delighted" said
Mr. Hutchins TO a reporter of The Re
publican yesterday afternoon. Ito be
able to invest in Hawaiian securities
from my knowledge OF their safe char
acter conjoined with a high rate of
interest.
This departure of the company will
be the means of making number of
immensely wealthy men interested in
Hawaiian affairs. Besides President
Moore there are such men as w. NJ.
Croker. president Of he Croker.
Woodwork National Bank. Henry J.
Croker. Wakefield Baker of Baker &
Hamilton, p. n. Lilienthal. manager
OF the Anglo-Californian Bank, and
Henry T. Scott. president of the Union
Iron Works-'the man who built the
Oregon.
The Pacific Mutual Company has
made a remarkable record. II was
started in 1868 by Senator Leland
Stanford. who was it's first president,
retiring sometime in the 70's. DIR.
Moore succeeded Mr.. Stanford by one
remove and has held the presidency
many years The company took over
and reinsured a large company in the
middle west. increasing its business
enormously. About seven years ago
II began TO write accident policies in
conjunction with life. year later
taking up industrial business which
has been a success. Last year the
company made the largest increase of
any company in the United States in
new business. The assets are close
upon five million dollars. in addition
to which under the laws of Califor
mia. the stockholders are liable for the
entire debts of the corporation. Brad
streets estimates the company's
wealth at s20.000,O0O.
'The entry into the Hawaiian field
of investments, was brought about
particularly by the enormous business
the company has been getting here.
This agency was started in 1899 and.
in spite of the plague. we have just
about a million dollars of insurance
in force. yielding a large amount of
premiums"
Mr.. Hutchins is himself one of the
most prominent insurance men in the
world. from his extensive travelling
in that time OF business. His tours
have extended from Pekin to London.
For the past seven years ne has been
exclusively devoted to insurance, be-
sides having had considerable of u
former experience therein.