The Pacific commercial advertiser. [volume] (Honolulu, Hawaiian Islands) 1885-1921, 1903-04-11
Payment May Be Put
Off Until Bonds
Are Sold.
Special Agent MacLennan Arrives
With Money illness Delays
Negotiations.

W. r. MacLennan, special agent Q
the United States Treasury Depart
ment arrived in the Korea yesterda.
morning. bringing with him million
dollars for the payment of the fire
claims. The gold was Immediately
turned over to the First National Bank
which win act as disbursing agent
Mr.. MacLennan. who is quite i'll. was
taken to the Hawaiian Hotel where he
is under the care of DIR. Golfer
There was no conference between
Mr.. MacLennan and the officials OF
either the government or the bank dur
ing the day and the treasury agent is
undecided as to his plans until there
has been some decision reached after
meeting with Governor Dole and Sec
rotary 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 viii 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 con-
ference with Governor Dole.
Then the records win 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-
ton 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
or the United States on ac-
count of property destroyed in the said
of the bubonic plague"
The certified copy Of the records upon
which payment will be made has not
oeen completed. as after the work had
been begun Governor Dole received a
.ablegram countermanding the first or
Ter. However, the work is wei under
way. and the record can be made ready
within a few days.
The bond matter, if it is held that
ull satisfaction must be given on all
will be settled quickest. if
here are no bids for the bonds at par,
~ getting some of the claimants to
axe them up. 1t is said that many of
hem are willing to accept the bonds.
ooner than to wait for their pro rata
f the million dollars. If the sale of the
'onds is necessary to the payment of
he claims. it will require nearly two
months. even if they are sold in the
ocular manner. Only 10 per cent of
he bid must be paid on it's acceptance,
nd the bidder has the option of pay
ng the remainder at the rate of 20 per
ent each ten days thereafter.
The million dollars came in the strong
OK OF the Korea, and there appeared
D be no extraordinary precautions
AIKEN to guard it. The coin was pack
i in thirty-fve boxes. each containing
20. 900. The denominations were five.
IN and twenty dollar gold pieces,
taking altogether 100000 in gold. The
emainder was in gold certificates
100000 in one thousand dollar bills, the
emaining 5000 geo in FIVE hundred dol
II bills. The money was counted inn
on arrival at the bank and
laced in the vault :,
This is Mr.. MacLennan's third visit