The Hawaiian gazette. [volume] (Honolulu [Oahu, Hawaii]) 1865-1918, 1903-04-14
COLO FOR
THE FIRE
CLAIMS
A Million Dollars
Is Here at
Last.
(From Saturdays Daily.)

(From Saturdays Daily)
the United States Treasury Depart
ment, arrived in the Korea yesterday
morning, bringing with him a million
dollars for the payment of the fire
claims. The gold was Immediately
turned over to the First National Bank,
which will act as disbursing agent.
Mr.. MacLennan, who is quite i'll, was
taken to the Hawaiian Hotel where he
is under the care of DR.. Cofer.
There was no conference between
Mr.. MacLennan and the officials Of
either the government or the bank dur
ing the day ana the treasury agent is
undecided as to his plans until there
has been some decision reached after
a meeting with Governor Dole and Sec
retary Carter.
The money is on hand and ready for
distribution among the claimants, but
it is little doubtful if it can be paid
out until after the bonds are sold.
This will mean April 20, at the earliest
and it may be delayed for nearly two
months.
Mr.. MacLennan, however, is of the
opinion that he will not be delayed by
the bonds, and he said yesterday that
the coin would probably be ready to
be paid out pro rata without waiting
for the remainder Of the amount due
to be realized by the sale Of the bonds.
He was unwilling, however, to make
any definite statement as to the plan
to be pursued until he has had COLI
ference with Governor Dole.
Then the records will first have to
be examined by the treasury agent,
and there is still the question Of bonds.
Cecil Brown, president of the First
National Bank who has given the mat
ter considerable study, said last even
ing that he believed the bonds would
have to be sold before any payment of
coin could be made.
The act under which the appropria-
tion of million dollars was made
seems to bear out this idea. The act
concludes as follows:
Before any such judgment Shall be
paid hereunder the Governor of the
said Territory must certify that the
same is genuine and was duly rendered
in pursuance of the act of the Legisla-
tive assembly of the Territory; and the
payment of said judgment shall be in
full satisfaction and discharge of any
and all claims or demands against said
Territory or the United States on ac-
count Of property destroyed in the said
suppression of the bubonic plague"
The certified copy of the records upon
which payment will be made has not
been completed, as after the work had
nnIn a
cablegram countermanding the first or
der. However the work is well under
way, and the record can be made ready
within a few days.
The bond matter, If it Is held that
fun satisfaction must be given on all
will be settled quickest IL
there are no bids for the bonds at par,
by getting some of the claimants to
take them up. 1t Is said that many of
them are willing to accept the bonds,
sooner than to wait for their pro rata
OF the million dollars. If the sale of the
bonds is necessary to the payment OF
the claims it will require nearly two
even If they are sold in the !,
regular manner. Only 10 per cent of /
the bid must be paid on its acceptance, |
and the bidder has the option of pay |
ing the remainder at the rate of 20 per |
cent each ten days thereafter.
The million dollars came in the strong
box of the Korea, and there appeared
to be no extraordinary precautions
taken to guard 1t. The coin was pack
ID in thirty-five boxes, each containing
$40 600 The denominations We're five,
ten and twenty dollar gold pieces.
making altogether 100000 in gold. The
was in gold certificates
800, 900 in one thousand dollar bills, the
100000 in five hundred dol
ar bills The money was counted i'm
nediately on arrival at the bank and
placed in the vault.
This is Mr.. MacLennan's third visit
to Honolulu. He came the first time
With four million to pay the Hawaiian
debt, as taken over by the United
states upon annexation, On the second
occasion he was the agent who super
Intended the paying of the depositors
n the Postal Savings Bank.