The Hawaiian star. [volume] (Honolulu [Oahu]) 1893-1912, 1903-10-08
PERHAPS FOUR PER CENT.

The telegram Secretary yesterday the
very satisfactory which negotiating He
had opinion lawyer upon corporation
matters the United States who deals with interests
ing hundreds millions and to whom our little loan of million
would very small indeed But his reputation is based
the accuracy OF his opinions and have received valuable
and opinion had been issuing bonds for $780,
ARMED with this opinion and with the Secretary
Shaw OF the Treasury Mr. Carter ready face Wall Street and
lay his bonds before the big hnancers
His step has been have the bonds engraved Samples of
bonds had been forwarded here and had been considered by the
enor the Territorial secretary and the treasurer and the form
bond had been tentatively decided upon before Mr. Carter left the isl
ands The denominations also decided upon Further discussion
has evidently on between Mr. Carter and the ngyers and final
decision come to- These bonds are now being engraved
The question OF the of interest which to have surprised
many people nothing extraordinary Section three OF the loan act
Act 43 of the regular session OF 1903 says A bonds issued under
authority of this shall bear interest payable emannuay
than per per and be redeemab
five and payable fifteen from the date the issue thereof
obligation five interest," there obligation to
pay not than five per
The present issue bonds different shapes what
when Secretary Carter started for Washington They have
which they could have had but for the kindness
helping
had been for Mr. Carriers hard work. clear Of
our case Bonds with the status which ours have should be Aoated
Mr. Carter thinks lower of interest than five per cent and If
he his he going advise that the rate of interest should be
lowered four per That evidently the meaning of Secretary
Carriers telegram, which few words would have rendered quite
clear At government the telegram received yesterday would cost
three dollars dollar would have rendered perfectly
clear Engmatc teegraPhy unsatisfactory and in the
end However the telegram enough the Treasurer who
The prospects then emneny good every
chance OF being able receive the whole o face value
only point below AS to the amount OF saving in interest one
the has been that there would be saving
annually This OF course Figuring the loan at S1ooo
ooo slightly purposes of illustration
the annual interest per would be $4,000 If the loan
the would be $4,000 and the annual
would On the whole allowing that began
redeem in five years the saving might be $ooooo stated in
Stars of last evening but that saving would be spread
period of fifteen In the of the treasury how
$4,000 important item, 100000 would be wealth
Every who blinded by personal prejudice must acknow
edge that Secretary Carter has managed his mission we'll He has
pareny left turned strengthen confidence financial
position The fact that there ghness the current funds
nothing Because the Legislature failed authorize loan
productive public works have had wait Much the loan will
productive which will income Others
while directly productive will bring receipts indirectly for roads
bridges the of lands and these
larger of taxation The interest of the loan is
ahead These Mr. Carter has FORTH He
the magnificent the short he has
the Territory and his fellow citizens ngen heartily and
we'll