The Honolulu republican. [volume] (Honolulu, T.H.) 1900-1902, 1901-09-11
FOUR HUNDRED THOUSAND DOL
LARS is THE SIZE OF
STAKE.
Shamrock Makes Fine Showing in
Her Seventh Trial spin-still
Trying Columbia and Constitution
to See Which Is Best.

international yacht race bet of $780,
GOO between an English syndicate rep
resented by Walter J. Kingsley OF
London and group OF Pittsburgers.
represented by William l. Muslin, was
finally arranged this afternoon. The
entire sum was deposited in the hands
of the stakeholder, Kingsley turning
over s15O,000 in British bank notes
and Muslin giving a certified check
for s250,000.
here this morning Muslin promptly
put Kingsley in communication with
his principals. who were speedily con-
vinced that the s150,000 of British
money was awaiting their convent
ence. Kingsley, on his part, agreed to
accept a certified check for the full
amount of the American side of the
wager.
The meeting was held in the Office
of Darr, Moore & Brydon and this
gave rise to the report that this firm
would act as stakeholder, but the
members of the firm say they will not
serve in this capacity. The name OF
the stakeholder is kept a close secret,
b0N II 10 oaAA Nhdt - a nun 'NA-
prominent in financial circles.
The stake is to be paid within one
week after the concluding race, the
place of meeting TO be New York. The
wager is simply s150.000 TO s250.000
that the Shamrock lifts the cup. There
are no conditions as to accident. Both
Mr.. Muslin and Mr.. Kingsley. the
brokers of their respective 6yndicates,
will receive handsome commissions.
Kingsley is to get per cent of the
whole amount in case the Shamrock
wins and 2I1s per cent of s150,000 in
the event of her losing.
Mr.. Mustin's compensation for his
share in the arrangement of the bet
is 5 per cent of s250.00O. which was
paid to him as soon as the wager was
consummated this afternoon.
The names of the men composing
the syndicate are kept from the public.
They are all well known Pittsburg
gentlemen" said Mr. Muslin. 'but for
obvious reasons their names are be-
ing withheld They are backing the
American boat because they antici-
pate another victory for the Yankee
shippers and look on the matter with
the eye of business men. However. il
the Englshmen should take the
cup away. they would not turn hair.
They have the spirit of true sports
men. every one of them. and If their
quarter of a million should be taken.
they would be the first TO say. Bully
fer Upton
NEW YORK, Sept. 3.-K. Montgom-
cry Smart of the Produce Exchange
received a dispatch this afternoon
from ]. II. Kingsley, agent of the Eng
lish syndicate. who placed $50. 900 on
Shamrock II at Pittsburg today, say
ing he is ready with s150.000 at the
same odds or half that sum. Mr..
Smart Immediately communicated
ranged the former wager and has
since put up $4,000 against $4,000
that the Shamrock II will not lift the
cup.
American Yachts Race Again.
BATEMAN'S POINT. R. l., Sept. l.
"A breeze of eight knots came up at
noon today. The yachts Columbia and
Constitution started on a race. the
result OF which was expected to aid
tA t.CtttAAS tAC HACS&AOd "
shall defend the Americas cup in the
coming series for the cup with Sham
rock II. The Constitution came down
the harbor under three lower sails
and club topsail. She was followed by
the Columbia with jib topsail set 10
get out 10 the start on time.
At 1870 the committee hoisted the
course signal for a fifteen-mile beat
TO windward and return. the course
being south-southwest with the turn
ing mark anchored about four miles
east of Block Island The Columbia
crossed the line first in & fine posi-
ton on the weather Of the Constitu-
ton. but the latter, instead of fol-
lowing the old beat over the line.
wore around and headed for the line
on the port tack. crossing over min
ute after the Columbia
Trying To improve Constitution.
NEWPORT. r L. Sept. 3--The cup
challenge committee Of the New York
Yacht Club decided not 10 send the
Constitution and the Columbia 10 race
today as had been originally intended.
There were two reasons the first be-
ing the probability of day without
any wind. the second that Mr. Duncan
wished TO overhaul the Constitution
thoroughly before sending her 70 the
line again
So surprised are all connected with