The Hawaiian star. [volume] (Honolulu [Oahu]) 1893-1912, 1905-08-21
CASTLE CONTROLS
THE FIRST NATIONAL
Continued from page one).


of the stock to j. b. Castle and the
Castle Estate has been completed
said Cecil Brown, president of the First
National Bank this morning, shortly
after the arrival of the Siberia 1T is
perfectly satisfactory to everybody.
Yes, l will remain as president"
The deal is made by the purchase by
Castle of the holdings of Walter G..
Cooper, cashier, and CT. Kunst, the
well known capitalist. These holdings
amount, it is said to 500 900, par value,
of the stock of the First National
Bank, and $4,000 par value of the
stock of the First American Savings
and Trust Company. The price paid
for this stock is not announced, but it
is said to be considerably above par
The Castle interest comes into the
bank with the good will of the Anglo
California Bank which owns or con-
trolls, it is said 100000, par value of
the stock. This, with the stock already
owned by the Castle interest gives it
controlling interest. The new deal
however is with the approval of all in
terests, so that there is no inharmony.
In fact, it is understood that this deal
harmonizes all interests as they have
not been harmonized since the fight
for the control of the bank three years
ago.
The story goes to the effect that a
liberal offer was made to the Anglo
California Bank for its stock but that
institution would not sell the forty per
cent that it owns. 1t was well enough
satisfied to retain it's investment and
to allow the Castle Estate to control
the destnies of the bank
Tenney Peck, who was seen this
morning, said that although he had
every reason to believe that the ar
rancements indicated had been made
he was not i'm a position to make any
statement until he had seen Mr.. Castle.
Before he went away he asked me
if l would take the cashiership if it
We're offered me-" said Peck, but il
would plainly be presumptious on my
part to say anything about the bank
or its affairs until at least have seen
Mr. Castle. AS far as the cashiership
goes. that is an appointment in the
hands of the directors of course.
cannot say anything more"
Il can confirm the news that J. r.
Castle and the Castle Estate will take
over the Cooper and Kunst stock OF
the First National Bank of Hawaii"
said Col. George Macfarlane, who re-
turned on the Siberia this morning.
''Mr. Castle had a conference with the
Anglo-California Bank people. who
own forty per cent of the stock, which
was most satisfactory to all parties
concerned. An offer was made to the
Anglo-California for, their stock which
they declined, stating that they were
perfectly agreeable to having Mr.. Cas-
tie and the Castle Estate in control of
the stock Thus the Anglo California
Bank has no direct part in the deal
which has been put through and the
relations between the Anglo and the
First National remain on a perfectly
friendly basis.
THE stock will be benefited by the
change and viii ! am sure enhance
rapidly in value"
Col. Macfarlane was asked If the
transfer would make any changes in
the personnel Of the board or officers
of the bank
LAS far az ] know" he answered,
mr.. Castle has given it to be under
stood that L. Tepney Peck. viii become
cashier in the ltace OF w. G. Cooper.