The Hawaiian star. [volume] (Honolulu [Oahu]) 1893-1912, 1906-01-13
The Delay In The
Bond Sale

Secretary arranged everything practically
all that left for the Treasurer deliver bonds
receive the money
1t is quite evident that the Governor is anxious believe
have the public believe that the delay difficulty due his
departure Act the Legislature
but demand for money Wall Street which
call money up very high figure Perhaps this is the
complete subject conjecture
be good another and the Governor entitled select
the conjecture he chooses to adopt
Nevertheless
least significant In the first place be borne mind that when
Atkinson the bonds had been issued Whenever he
spoke prospective buyers banks bond dealers
panes through whom the bonds might be sod OF prospective
approved by the President the United made available
by he secretary OF the treasury o uePoS with e treasury depart
men by national banks AT that stage OF negotiations no question
of the technical regularity of the bond issue could arise All negoa
lions then would be the assumption that the bond issue would be
Technically everything was yet to be done except the pass
the authorizing 1t this stage of the nego-
taons that the question of the price would naturally arise Sece-
tary Atkinson offering three half per Hawaiian bonds
technical regularity Of the issue of which assumed Anyone
whether the legal He would simply consider assuming
the bonds be legally issued approved by the President and author
deposit Secretary the Treasury will
justify paying a three and half per Hawaiian bond"
That the time when questions Of whether the interest rate was
high enough would be considered Apparently they
considered avoab when Secretary Atkinson negotiating
There has been material change in the situation since Call
up high figure temporarily, but stocks and bonds did
suffer showing merely temporary and superficial condl
beginning of the year larger distributed in
than distributed before The crops
been phenomenal and the There nothing to
indicate that the bonds could have been sold month two months
ago. that they be there objection to the technical
treasure Campbell now in New York with the bonds ready to
deliver them and take the purchasers money Now another set OF in
The prospective purchaser Deoe parting WIN MS
money know that all the proceedings of the bond issue
technically rgheter in fact these the bonds authorized by
legislature He will know the legislature passed
proper and the journals Of the House and Senate which have
been for will show that He will want to know the bonds have
the legislature, and the a
waan together with the journals of the Senate and House OF
Representatives will show how the Legislature has acted and then
the bonds been issued accordance with the
of the egatre IT, Senator McCandess has strongly maintain
there authority in law for bond issue of the amount which
issued prospective buyers will be very
thoroughly assured that point That question which the
President did Of necessity have consider when he had the mat
of approval before him. He could readily that the only
question before him to the financial wisdom and necessity OF
issuing bonds proposed leaving the matter the technical
arv issue the Territorial officials and the purchasers He
could very we'll decline take the responsibility deciding Of
having his Attorney Solicitor decide tech
nical regularity the bond issue He would know that he decided
that they regular and prospective purchasers disagreed with
him they would While if he decided against technical
regularity and purchasers willing to take them he would simply