The Pacific commercial advertiser. [volume] (Honolulu, Hawaiian Islands) 1885-1921, 1901-10-03
MUCH MONEY
IN THE POST
Increase in Order
Business Now
Done.
ORDINARY SALES OF
THE ISSUES HEAVIER
Cash Paid Out Through the
Local Office Shows a Very
Great increase.

The money order business OF Ine
postoffices of the Islands has shown
within the past year an increase in
the number of the orders issued which,
while it is not sufficient to make the
sum total for the quarter just ended
greater than for the equivalent period
of last year, is in fact an evidence that
the general business is much heavier
During the first three months of the
control of the local office by the Unit
ed States authorities, with the reduced
rate of exchange which it afforded,
there was a general disturbance of the
exchange market. The introduction OF
the rate of the postoffice. 80 cents
hundred, was so tempting that one
large business house bought $4,000
worth of exchange. As the limit OF
the size of an issue under the United
States regulations is 500, this one Or
der sweIled the number of issues, as
we'll as the total of business done, and
taking this into consideration there
will be evidenced a much greater
growth than appears on the face OF
the report.
During the three months ending Sep
TENDER Is, 1900, there were issued 3,25U
domestic money orders, calling Tor
$102, 625.04 During the same period OF
this year there We're sold 4,l61 orders,
the amount of money being involved
being 49,, 625. 80. Taking out the one
transaction of 800 issues, 100000, to one
house, as there was never again such
a transaction, the growth of the gen
eral business done by the office is
shown. During this period the for
eign business shows most phenome-
nal increase. While last year there
were only 2S2 orders sold in the three
/ months, the amount of money being
; $4,14S.79, during the present year there
! has been a total of SIS, 162 80, trans
ferred in 469 orders.
While these figures show great
! business done by this office in the
/ sending out of money, there is even {
more tremendous showing in the loCa
, payments. There was only SITS, 4S7 81
paid out during the three months o.
= 1900, but the payments which are rec
orded for the past quarter amount Il
$47S,2 6S. 81. The numbers of paid orders
involved were, in 1900, 5,091, and thi
year, 1859.
/ Honolulu is the clearing house fo
the other offices of the Islands, some
! thing like sixty in number, and these
/ transmitted to the officials here durin:
the three months just past, S493, 1872. 81
| in cash. This class of business has in
| creased to an enormous extent since
| the national government took over thu
postal business. There is a constan
! stream Of orders being cashed at thu
/ local office, and the business done take!
| the force on steamer days. While
| there are no more of the eXtremel!
| large transactions which marked tn
opening days of the advent of tn,
{ United States system, the use made o
| the office here is greater in proper
/ ton than in any ordinary office on thu
Mainland. Mr.. z. T. Banks, the eX
! pert sent here from Portland to organ
! ize the business, says that the US,
made of this branch of the service il
/ extraordinarily extensive, and tina
/ there are often orders for issues ag
| gregating $500 for one purchaser.
Since the first few months the banks
| have not felt the competition of tn,
! postoffice in the matter of exchange
! The result of the introduction of tn,
lower rates of the government had tn
effect of cutting down the bank rat
| for exchange. The rate was made tn
same as the postal charge to SaI
! Francisco, but to New York it wa
permitted to remain at a slight!
| higher figure. Since the first furry
| there has been a settling back of tn
business until according to one banker
! there has been a complete resumption
| of the old course, and the belief il
that there would be just as mucl
! business done, if the former rates OBJ
| tanned