The Pacific commercial advertiser. [volume] (Honolulu, Hawaiian Islands) 1885-1921, 1902-04-26
CHINESE
NEED Cash
'cSnrInued from Page ~


spe1d time and money in gambling, al
of which is mostly 1t the expense OF
the stoEe6eeper who has trusted them
for the neeessaries of life.
For these reasons IL was decided that
all merchants should>be urged to close
out their lines of credit, and make their
business cash as soon as possible. This
may work son.e hardship but It APP
peared TO be the only chance for some
OF the dealers to keep on without losing
their all. Il was said during the meet
ing that the outlook was that perhaps
half the small stores which are now
opened. kept by japanese huis, would
be compelled to close if there is nc
great revival in business very soon. The
stores kept by the japanese, except in
the case of the higher class of whole
sale businesses. are backed by invest
nents made by several persons. each of
them represented by savings amounting
to few hundred dollars. This capital.
with the credit extended by the whole
saler, Is sufficient to carry on the bust
ness when there is good trade, but in
dull times like the present there is lit
tie chance for keeping even.
Already there have been several clos
Ing down of stores. Along King street.
in the district which was built for the
accommodation Of trade after the fire.
and down to the end OF the tram line
In Kalihi, the lines of buildings are al
most evenly divided into store rooms
occupied and those unoccupied. There
were counted Yesterday forty-five stores
along the street between the railroad
depot and the Kamehameha schools
which were empty. In the Kalihi dis
trict there have been three closings
Cft he OF 81
stores and one OF a Japanese. Yester-
day there was reported the closing of a
Japanese store at King and Beretania
streets, the firm having also a store at
Aiea.
The most important suspension OF a
Chinese firm was that of the Kwong
Hip Chong Company, which did bust
ness at King street and Aala. The
company was organized in 1888 and
owns the building in which was its
store. having a long lease upon the
ground. 1t was known that there was
difficulty about collections, but the
membership of the firm. CON bineu with
the fact that there were rents coming
into the firm from other stores in the
building. gave the wholesalers some
confidence in ii. The firm was COM
posed of c. Chock Chez. manager:
Tau and Ping Fai. The store was dis
covered closed on Wednesday of last
week. and since that time Chock Chez
has not been seen. 1t was understood
that he had left tNe country in the Gaze
lie. and at the Washington Mercantile
Company, where Chong Soy. son of
-Chock Chez. is employed. ii was said
that a note was left by the manager
for his son. saying that he was going
away, having only his ticket for Hong
Kong and seven dollars, as the result OF
his connection with business here.
There was held a II eeting.o the cred
itors of the company and 1t was found
that there are claims against it aggre-
eating a sum in excess of $4,000. AS
a result of the investigation it was
concluded that the assets are the lease
hold ard a bakers Tachine. There are
two mortgages against the leasehold,
and an assignment as we'll The for
rner are given to Chinese, and are for
SUMS aggregating $500. while the lat
ter is made to the Washington Mercan-
tile Company. to cover the bill of the
house for about $1,000 1t has been de-
terrrined that the firm shall go into
at once.
TIE majority OF the American houses
doing business with the Oriental houses
are adopting the cash plan, and they
expect soon to be able to use the plan
entirely. Some of the Chinese houses
have brought their term of credit down
TO one week. and they think this will
enable them to gradually work out their
customers Everywhere there Is the
same expression. that IL there was
payment of the fire claims there would
be an immediate relief felt. for the
h. raI ~ off
heir credits obtained for the purpose
IF going into business again. AS 1t Is !
now there will be no forcing of pay
nent on the part of the established
houses, they feeling that there would |
,e far-reaching effect from any move !
nent for the squeezing of customers OF .
The wholesalers, they being in such
condition that they could not pay and
heir failure bringing down other
houses about them.
The Chinese view the situation with
The greatest fear. owing to the fact
hat the closing of the doors to chi
lese laborers has made II impossible to
hope for any great increase of trade.
rhe older merchants are all drawing In
IN lines of business, owing TO the fact
hat they expect continued exclusion,
Ind consequently see smaller markets
or their imports. 1neTe mas DScii, III
he opinion OF the older men, a great
oss to the Territory in the shutting
,ut of the Chinese, and the change in
abor conditions. They say that the
greatest loss to planting interests is
lot primarily the increase of wages,
,ut the decrease in the productive work
4 the hands. One planter said yester-
lay that where six men, with two more
n harvest, were formerly sufficient to
work twenty-five acres of rice, they
,eing paid at the rate of s13 to SIS a
month. now 1t was necessary TO hire
welve men and pay s25 for months
work. The work done by the double
lumber. II Is asserted. too, is not so
rood as that OF the old force. The men
rave now no attachment to their work,
md leave upon the slightest provoca-
ion. tsaying that there Is plenty or
work to be had.
In another place. Chinese sugar
plantation. where formerly there were
100 Chinese hands. and this number