Evening bulletin. [volume] (Honolulu [Oahu, Hawaii]) 1895-1912, 1903-02-02
THINKS HAWAII STOCKS
SHOULD Be DISTRIBUTED

III your issue of yesterday with the
heading More Hawaiian Stocks Want
ed In San Francisco" justliies at this
time a reply from me. being quite quail
flied to do so.
The statement credited to Mr.. POLITE
to the effect that Hawaiian securities
lead In the volume Of business trans
acted on the San Francisco Stock EN-
change proves conclusively that We
must continue to transact our business
in the great money mart Of the west.
More particularly as we are heavy Dor
rowers of money from that center of
finance and capital. made necessary IN
order TO extend the field of productive
ness by the clearing and planting OF
large areas in cane and the erection ii
modern sugar mills, and in the tiding
over the period when the cane is matur-
ing. Personally. | consider It would
he a decided advantage IL the stock OF
a greater number of desirable sugar
properties were listed upon the San
by the brokers of the Mainland, as It
materially assists in extending the
market for investment In Hawaiian
securities not only In the United states
but likewise in Europe.
when several of our most extensive.
plantation properties were yet in their
swaddling clothes and requiring large
capital to place them upon a solid
footing. we turned to the capitalist and
banker OF San Francisco to supply our
Heeus III 'ha' uiree,'on' "nu 'ne SUI,
cess met WIN Is wen KNOWN 10 se'era,
iocai nnancIers VINO were ihs.ruihen'a'
~ ehec',nB Tue 'o"hS "''hOu' any "p'
parent ehor'
pur'ns your inter'Ie" win MT u NJ
Iooke ne says IL our s.ochs are suen
a nice thing tor ,ne san Francisco
nrokers' why snouIu not we keep as
h"ch as possio'e Oh the business Ut
poine'
There Is but one reply to the above.
Suppose A should be selected TO nego-
tiate a loan OF $4,000 for some plan
tation on the island OF Hawaii, and he
approached banker Of San Francisco,
fortified with a long array OF carefully
prepared reports and an abundance of
self assurance. and In n lengthy per-
sonal dissertation tells the bankers in
the words of Colonel Sellers: There
lie millions In It," Then the banker has
his inning by asking the promoter: "If
your stocks and bonds are such nice
things why don't you keep them as
much as possible at homer"
Numerous companIes. principally
sugar companIes. have been formed
during the mast three or four wears for
the deyelonment of the SMEAR industry
OF the Hawaiian Islands. and their
stocks and bonds have been placed on
the financial markets of San Francisco
MANY of them were centralized at yer,
high figures. hut like other stock. n de
cline took place in most OF them Mt tn,
ltime. Then came a period of low price
for raw sugars, and the conseauen
Tightening OF the money market. Over
lures were then made by representa-
tons from the plantations (already
Irlaced at good figures In San Fran.
aisco). to the bankers for the necessary
funds. who. Notwithstanding the enor.
nous amount already advanced
stepped into the breach and furnished
the necessary capital.
Again. the sugar industry has grown
10 such a magnitude that II has become
a financial necessity for many of tn,
more extensive plantations to establish
branch agencies in San Francisco II
order to expedite the handling OF thel
business by being in close touch will
the financial center Of the entire west
ern country.
Annexation has given rise to an ex
traordinary development in trade be
tween Hawaii and San Francisco. Cap
ital has poured into the islands sine,
their political future has been settle,
lhoynnJ oil Jnuht aud tho uruar In