The Honolulu republican. [volume] (Honolulu, T.H.) 1900-1902, 1902-01-18
BANKS And BANKING
METHODS In HAWAII
From the Annual Report o; compt.
roller OF the Currency.
Dec >. 1911

WASHINGTON. D. c. Jan 3--ln-
formation relating % banks ana bank
ing institutions il Hawaii has been
secured from txo sources-frst- from
statements transmitted directly to
the Office by 2 number Of banks and
banking companies doing business IN
the Territory. and. second from re-
turns obtained By Dir. A. r Server.
representing this Office in an official
capacity al Hawaii. while on 2 visit
to the islands during the past season
Reports from both sources show the
existence Of banks with banking cap
itsl as follows: Bank Of Hawaii,
capital ss0o.0 900. surplus and undivid-
ed profits 500 900. deposits 1850
COG: First American Savings and
Trust Company OF Hawaii capital
$3.50 090. deposits about $500 900;
First National Bank OF Hawaii. cap
ital 100000: surplus and undivided
profits. 1895; deposits, s741266;
Claus SpTeckels & Co. capital $500
600. deposits ss6s, 7ee: Bishop & Co.
capital $500 600: Hawaii Trust and
Investment Company All Of these
banks and banking firms are located
at Honolulu. There Is also in opera
ton at this point branches OF the Yo-
kohama Specie Bank and the Kei Hin
Bank. Limited. OF Tokyo. In addi-
ton TO transacting general business,
selling exchange. etc. the banks
generally allow interest on deposits
AT HilO. the second town of i'm
portsnce in the islands. there is in
operation the First Bank OF Hilo.
with capital Of $500 900 and deposits
Of 100000. At Wailuku there has
recently been organized the First
National Bank OF Wailuku. with cap
ital OF $4,000.
Several OF the more important plan
tatiol agents have banking depart.
ments in connection with their other
branches OF business and aid the
planters very materially by advanc-
ing funds for the production and
marketing OF crops The demand for
money is apparently steady. as the
moving of the large sugar crop.
which is practically the only crop. is |
N progress the entire twelve months. !
The deposits in all of the banks
ere approximately 50. 800 900. while I.
the actual cash in circulation. includ- /.
ing Hawaiian silver coinage amount I
ing TO $1,000 600. will probably not
exceed 100000. The Hawaiian sill !
Yer coinage was minted at San Fran /
cisco in 1883 and 1884. during the /
reign of Kalakaua. These coins. in !
denominations OF dollars. halves. 4
quarters. and dimes. have the same
intrinsic value as United States sill !
yer.
During the past three or four years 4
new enterprises. capitalized at about I
$4,000, 900. have been launched with I
out sufficient money in circulation to
properly float them: consequently at
the present time there is a great de-
mand for more capital. and loans can
be readily made at =. and . per cent /
interest on what are considered gilt
edged securities. that is. stocks. etc.
Of the sugar industries.
Section of the act of Congress ap-
@royed May so. 1900. entitled An
act to provide government for the
Territory of Hawaii" provides that
the laws Of Hawaii. not consistent
with the laws of the United States or
the provisions of this act. shall con-
tinue in force. subject TO repeal or
amendment by the legislature of Ha-
waii or the Congress or the United
States, and section 90 of the act
provides. among other things. that
lhe legislature may hy general act
permit persons To associate them
selves together as bodies corporate
TOR conducting the business
Of insurance. savings banks. banks
Of discount and deposit tbut not of
issne). loan. trust. and guaranty as
,ociations
The laws Of Hawaii not repealed
and relating To banking are repro
iuced in the appeudix 10 this raDort