The Pacific commercial advertiser. [volume] (Honolulu, Hawaiian Islands) 1885-1921, 1903-02-02

! The report of Berrey's Commercial
Agency appearing under Saturdays
date gives the following statement OF
the past fortnight's business:
| For the second half of this first month
of the year, trade is dull. The volume
of retail dealing is small and citizens
generally are following the rule of close
buying quite rigidly. However, the best
judges of the commercial situation as
sert that the facts here set out show
caution and foresight approaching
timidity, rather than hard times. For
it is very clear indeed that extra good
is money here now and it can be
brought out if sufficient inducement is
offered, witness the success of a
number of cleverly advertised bargain
sales and one real estate auction.
The Government at Washington is
proving a regular Santa Claus for Ha-
wall since the Islands reached the dig
nifty of having a heavyweight Sena-
torial Commission sent down to investi-
gate things generally at Honolulu and
throughout the group. First, there is
the gift of 100000 outright from the
United States treasury for the purpose
of assisting the Territory in the settle
ment of the Fire Claims arising out
ago. This money, the whole amount
OF it, should be here within sixty days,
as the bill passed by both houses of
Congress was signed by President
Roosevelt this week. AS the local banks
could not spare the cash to honor a
draft of s1,OOO.OO0, it is presumed that
| the money, principally in gold dScur-
| rency, will be shipped down either to
the regular disbursing institution or
| under the personal charge of a special
agent of the Treasury Department. In
any event the great sum is to all in
tents and purposes on the way, and
with its arrival and distribution there
will be observed the remarkable thing
of just about doubling, in one quick
| transaction, the entire amount of the
| circulation of the country.
Further, the Fire Claims appropria-
| tion bill passed by Congress carries
with it authorization to the Territorial
Legislature to issue 100000 of bonds to
settle entirely all claims arising out of
the fire. 1t is not anticipated that there
will be any delay in the issuance of
these bonds.
Senator Mitchell, who was chairman
of the committee sent down here, has
introduced in the body of which he is
member, bills carrying these gener-
Gus appropriations for the Islands:
Public buildings in Honolulu, $1,000, 900;
public buildings in Hilo. $4,000; i'm
provement of Honolulu harbor, $3.50, 900;
breakwater at Hilo harbor, 500, 900;
lighthouses and Maintenance of same
throughout the group, $4,000. All this
in any state or territory on the Main
land would spell Boom. but in these
days the people of Hawaii are united
for a steady forward movement rather
than a rush with the dangers of in
flated value and reimbursement
This viii be one of the lightest months
for transactions in the history of the
Honolulu Stock and Bond Exchange.
But the prices are steady and without
a single exception advancing. Perhaps
the most significant feature of the share
market as bearing on the industrial
situation broadly viewed is the sharpl
advance in the stock of the Inter Island
Steam Navigation Company 1t seems
impossible to bring any out even att
s1O5 bid and the only offer is s12O. The
par value is 800, and it is only a few
months ago that the stock was chang
ing hands at considerably below par. |