The Hawaiian gazette. [volume] (Honolulu [Oahu, Hawaii]) 1865-1918, 1903-01-13
BANK STOCK
TRANSFERS
Campbell Estate
Holdings
Sold.

BY the transfer Of the holdings of the
Campbell estate in the First National
Bank and the First American Savings
and Trust Company to syndicate COM
posed of friends Of the management, all
the complications which have surround
ed those institutions are cleared away
and when the meeting OF the first nam
ed is held on Tuesday next it will have
for it's business the reelection of the
present board of directors and the Of
ficials who are now in control of it's
business.
The announcements Of the deal was
made yesterday. and, although the
names of the buyers are withheld, it
was the gossip of the street that COM
bination of capitalists were interested
and, indeed, one Of the number whose
name was connected with the rumors
refused to deny the statement last
evening. The names which have been
connected with this, one of the largest
recent deals in local shares, are those
of Cecil Brown, M. p. Robinson, L. L.
McCandless, August Dreicr. a. kunst,
Harry Armitage, w. G. Cooper and
others. All of these interests are in ac-
cord with the policy of the control of
the institution, and the stock will there
fore be voted in connection with these
previous holdings, which, it is said,
means that of the 5000 shares there
will be nearly 5000 in the majority
party in the First National meeting.
This showing is such that it is believed
that every cloud which has been pro-
jected across the horizon of the insti-
tuition will be dissipated, and that the
bank will continue in it's course Of sue
cessful administration.
The sale of the shares held by the
Campbell estate was the result of
long negotiation. When the differences
arose and the mainland stockholders
failed to poll a majority of the votes
last year, there We're efforts made to
buy the Campbell stock for both sides.
Much of the stock was secured by the
local party, which is in sympathy with
the management of President Cecil
! Brown. The representatives OF the
mainland party then offered. II is said.
( Sl20 for the Campbell stock, and this
bid Is said to have been increased.
While no figures were given out In con-
nection with the deal Of yesterday. 1t
/ was learned that the price OF the Ma
| tional Bank shares was close to $l4o'
! and that for the American stock was
about sl04. This would mean that the
whole price was In the region OF $4,000.
While the purchase OF the National
shares puts the control beyond question
| In the hands OF the management, there
was some feeling that as the Campbell
estate stock had been voted against the
Macfarlane- mainland stock holders AT
| the annual meeting, the sale OF yester-
day might not affect the control OF the
, Savings institution,
President Cecil Brown said yesterday
that the control OF the minor institution
was also safely In the hands OF the
present management, Not only do re-
cent purchases give a new alignment "a
the stock, but as Well recent proxies
have been received from the mainland
and these insure beyond question the
continuation ~ the existing control
4 some ~ the new proxies received ny
Mr. Brown We're given with the under
standing that they are Ia be voted ~
support ~ the existing management
and the owners ~ the stock declared
they had not before understood that
other use had been made ~ pFeNious'
given proxies
II Brokers yesterday Afternoon said that
there we're no more ~ the shares w Tbs
naTksi ANA 4, u nov held ~ ms
strongest hands There 10 Aoi sspselsa
10 hs further selss foF sonas slssvi A.
ihsfs 10 Ro nasilhs sioes