The Pacific commercial advertiser. [volume] (Honolulu, Hawaiian Islands) 1885-1921, 1906-04-21
H0NOl DLU SECURITIES
HELD On COAST ARE SAFE
No Reason to Believe That the Safes OF the
Big Banks Have. Been Destroyed
in the Confagration.

yenieuce through their possession at
this time. You can say the same OF
Honolulu. The place might burn down
] and yet a large portion of the popu-
lation would not suffer ruin in conse-
| quence Men in this day do not carry
! their wealth over their heads; 1t is
| around about them, but not of them,
| and when trouble comes they can go
! and get it where rust and decay can
! not touch it,
Practically that is the opinion of a
leading financier of the Territory, ana
| his views are conceded in by others
on the same line. E. I. Spalding says:
Il am sure that Honolulu was never
| III a more prosperous condition. and
there is absolutely no reason for alarm
l know of no reason for calling any
loans here and if they are called 1 guess
they will be met. Our local banks are
strong, very strong, and the situation
at the Coast causes no alarm here,
but a feeling of sympathy and regret
more intense than I can express. 1t
occurs to me that We should look upon
the bright side of the affair and not be
too pessimistic in our views as to the
outlook. San Francisco has plenty OF
money and the State has rich mines
that will help materially in pulling
them out of their difficulties Our
greatest sympathy should go out to
the individual losers, those whose
homes have been burned and who may
not be in a position to rebuild or re-
coup their losses. There will be much
suffering among the poor, but you may
depend upon it the people of the State
will rise to the OCCASION
6,t,a
Bank of Hawaii, has not changed his |
mind in any particular since saying |
to the Advertiser on Tuesday night |
that the effect on Hawaii would be in |
considerable. why should we feel
it ?" he asked yesterday. Our banks |
are strong financially, perhaps as
strong as they ever have been, and |
we do not owe the California banks |
enough to make it worth while men
tioning. I speak for my own bank and
L believe / am expressing the situa-
ton regarding all of the others. San
Francisco is going to pull out of this
fog surprisingly fast: she will follow
the pace of Baltimore after the great
fire there. When / went through that
city the last time / was in the States
I could not realize that only a short
time before there had been a confiagra-
ton that wiped out the town. IF there.
are holders of Hawaiian securities who
feel that they may be obliged to have
.heirvalue in money they may send them
here for sale and there may be people
here to buy them, but it does not fol-
ow. The banks over there are as
strong, probably, as any in the coun-
.ry and there is no need to worry over
heir financial condition.
It will be remembered that when the
little New Jersey manufac curing town
If Patterson was burned a few years
ago the citizens in all of the neigh |
boring places came to their rescue
With offers of assistance. Patterson
was all right" said James B. Castle
n referring to the incident, 'and the | ,
mayor wired to those who had offered,
Patterson will take care of her desti- ,
ute and suffering poor
That may sound little perky at this ,
.fme but Mr.. Castle is of the opinion $
hat the great State of California will | :
10 the same thing. r
There was great deal of comment 6
lpon the fact that there was nothing .
iefinite in the dispatches as to the | -,
oss of life; the public did not consider $
hat at the time the message was dis :
PATCHED at San Francisco chaos reign :
.d ana particulars We're not obtain :
bile. That information will come later 7
md until it does the suspense will 4
ontinue among those who have rela- q