The Pacific commercial advertiser. [volume] (Honolulu, Hawaiian Islands) 1885-1921, 1903-08-27
PROMOTER
EDMUNDS
Denies That Mrs.
Wilcox is His
Partner.
Says Those Regulating
Ills Scheme Made
Overtures.
No Thrse.Bafl But Benevolent
Pawn-Broking-Theresa Decoy
Duck Among Natives.

Mr.. Edmunds, the new-risen promo.
ton luminary, called at the Adver-
tiser office to request publication OF
statements about the pawnbrokine
| scheme mentioned in this paper or
| the 18th inst. His objects are to give a
first hand statement of the nature OF
the enterprise and to contradict some
assertions made by persons whose
names had been used in the article
referred to. AS an Advertiser report
er tried to see Mr.. Edmunds first of
all, this little accommodation is the
advertising.
The Honolulu Trust, Loan and Dis
count Association and Mont de Piete,
Limited is the highly articulated
| name of the proposed -broking
corporation given in the articles of
| association shown by Mr. Edmunds
Its stated capital is to be 500, 900 in
shares of $25 par value each, 1000
shares or half of the stock to be is
sued forthwith. The privilege is re-
served of increasing the amount of
stock to $500. 000
The s25 share has the appearance
of a fine-mesh net for catching small
fry.
Mr.. Edmunds lays much stress upon
the statement of the objects in the
charter. According to that the Mont
de Piete is designed to engage in the
business of benevolent pawn brok-
ing" 1t is confined to the taking of
reasonable and lawful interest" and
must avoid all usury and unlawful
processes"
Regarding the disclaimers of Messrs.
Schnack and Burnette, the promoter
takes the responsibility of declaring
that Schnack. Fullerton and Brunette,
upon a slip of paper handed to him
which he showed the reporter. offered
to engage that they would go out of
the pawn-broking business Individual
ly for the consideration, to be paid
each, of $3.50 in the company's stock
and $3.50 cash.
IT have not consented finally to do
this Mr.. Edmunds said referring to
the alleged offer. 'They have not been
conducting the business legally. any
way he commented.
81 have thought of giving the man.
agement to someone else" the Piete
promoter said in reference to Mr.. Bur-
nette's denial of any connection with
the ScneI1e.
"Burnette," he proceeded, accepted
the position under certain conditions
and his name was not used without his
permission, but with his permission as
1 can prove.
This is no three-ball scheme as you
have called it, Mr.. Edmunds went on
to say. There is to be no taking of
old clothes, old boots, etc. 1t will be
an institution for lending money to
business men and others at fair and
legal interest.
II want to say that I have no office
on Kaahumanu street as you have
represented"
Mr.. Edmunds was here informed
that an occupant of the Office room
in question pointed out a certain desk
as the one at which Mr.. Edmunds
worked. To this he replied:
IT only write few letters at that
table. My office is with Mr.. Pain. His
Office is out at Punahou.
Another thing 1 wish to deny is
that Mrs. Wilcox has anything to do
with the scheme. 1 have no political, |
social or commercial relations with |
her. She is simply a friend of one of
my friends and is canvassing among |
the Hawaiians for stock subscriptions.