The Pacific commercial advertiser. [volume] (Honolulu, Hawaiian Islands) 1885-1921, 1906-04-21


nebulous There was not sufficient III
formation on which TO build more thal
a conjecture and the facts as the.
have been transmitted during the pas
4,,,a,,tx,-fo,,r hours have sustained SOM
Of the theories and upset many more.
message was received by Manage
Gaines about ten o'clock in the morn
inc IN the effect that the cable com
pany would attempt to install an Oh
flee in the burnt district and IT Woui'
he presided over by the Oakland op
orator This was sufficient to cause
the men of the city to gather on TINS
corners and discuss possible results
shortly after IL o'clock Messrs. III
Hackfeld & Co. received wire from
their house in Bremen, but it was sc
full of narrowing detail, coupled with
the fact of it's having been transmitted
via Manila from the European CITY, II
;u-peIIed the public toward the opinion
that it was tempered with In the Fhl-
ippiae capital Later when the service
messages came in to Manager Games
the Hackfeld news was, to a certain
extent. confirmed, lacking mainly IN
that portion referring to the damage
IN cities outside of San Francisco
The whistle shortly after 10 o'clock
announcing the resumption of the ser
vice was followed by the posting OF
dispatches on the windows OF the ca
BILE office and the news was, in sense
a relief to very few, for there were
those in the crowd whose severe neh-
tai suffering had left its trace on theH
countenances. To them the news was
rot in the nature of relief; women
in the crowd, and some of the men,
were on the verge of nervous pros
tration and it was only by encourage
rnent from their friends that they were
kept from breaking down.
One man was heard to say, Il am all
in; everything L had has been ourh-
ed" There were others of the lnou-
sand who watched the posting OF the
dispatches who could have said the
same. The cable office was the news
center and the calamity the sole topic
of conversation. Anything else was
forgotten. Even the fact that the
Johnson jury consumed less than five
minutes in reaching a verdict of guilty
was ignored.
In the business offices during the day
the result of the calamity was less
matter of speculation; men were will
ing to advance an opinion as to the
situation and the effect it may have
upon this community. The financiers
are as firm in the belief that Honolulu
will not be affected as they were when
the extent of the damage was specu-
lative and they base their opinion
mainly upon the fact that the sugar
crop is being sold largely in the East
and the money in payment for the car
goes will be paid in New York and will
be handled between New York and the
islands until business in San Francisco
becomes settled.
The value of the Hawaiian securities
held in San Francisco is the same to- |
day as it was before the fire and it !
will remain so unless there should be |
a considerable amount thrown upon |
the market, contingency that is not !
believed will arise An immediate I'M |
loading will be accomplished by as |
prompt a shrinkage and it is not |
thought that the holders will be so |
hard pushed as to warrant sacrifice. |
For the reason that present prices will |
obtain only in the event of the own |
ers holding on, it is not thought there
will be many offerings.
L. Tenney Peck says there is no real |
cause for anxiety in so far as Homo
lulu is concerned so long as the sugar
finds a market in New York and the |
money is handled there.
If the cargoes were going direct"
he remarked. the affair would be diff
ferent, but they are going around the
Horn or through the Straits. Our
people are not large investors in San
Francisco realty and they will meet
with no losses in that way
He does not believe that the finan-
cial institutions will lose much through
the fire for the reason that their Sc
curities are in their large vaults and |
when the fire cools off they will be
found intact LAS to loans on real es-
tate" he continued, the land is still
ttere and the buildings are usually in
sured up to the amount of the loans |
II there are numerous cases where the
loans We're beyond the insured value /
tnen there Will be a nipping. but l do |
not believe it will be considerable The
potential value of the land can not |
have changed unless ii should follow
the example Of Chicago and take ali |
upward tendency. Back there it wa
thought after the fire or. 1 NAV saw
during it, that the values would de-
crease, but the opposite was the cast |
and they began climbing before tn.
ashes had cooled and they continued
10 do so until stopped by the disas
trous panic of 1873
Another thing: San Franciscans ar,
Iarge holders OF securities outside O
the city and in some cases. perhaps
5000 many, outside of the State. Thin
OF the money in mines and in ranches
wen. those securities are as good to
Jay as they were before the fire ant !
the holders will not suffer any incon-