The Pacific commercial advertiser. [volume] (Honolulu, Hawaiian Islands) 1885-1921, 1907-09-05

GLOOMY TALK
Locally Discussed Along With
Honolulu Financial
StringenCy.

THE plague cases on the Coast may
| be the cause of the financial institu-
tions here tightening their purse
strings remarked business man
| Yesterday in speaking of the interview
with John D. Rockefeller, ''or it may
be the natural spread Of money strin-
pency which attacks the mainland each
year and which the administration is
| trying to avoid at this time. have
| a friend here who on several occa-
sions has been permitted by his bank
ers to overdraw to a considerable
amount because his securities were
| considered good, and they are good
even now,- but when he asked for a
loan of thirty-five hundred dollars last
| week he was informed that while it
was regretted the bank could not
| make the loan. Another banker was
sought but with the same result, the
answer to the request being, When
we feel the cold air coming toward
US we naturally put on our coat
THE yearly visitations do not both
err us as a general, thing so that 1 am
inclined to believe that this strin-
gency is due to the troubles on the
Coast and the demand for money
there"
THE ROCKEFELLER INTERVIEW.
(New York WORLDLY
NEW YORK, August 19-On Tues
day night, August Is, the Associated
Press office in Cleveland sent out a
despatch through this service an
nourcing that Mr.. John D. Rockefeller
haG denied the authenticity of a wide
ly circulated interview with him which
had been printed that morning. An
investigation shows that this repudia-
ton of the interview did not come di-
rect from Mr.. John d. Rockefeller, and
was not authorized by him. So far as
the Associated Press is able to dis
cover, the interview was perfectly ac-
curate and its publication fully au-
thorized.
WHAT ROCKEFELLER SAID.
Mr.. Rockefeller said in the interview
now admitted by the Associated Press
to be authentic:
The runaway policy of the present
administration toward great business
combinations of all kinds can Nave
only one result. 1t means disaster to
the country, financial depression and
financial chaos.
1.-THE world already has a fair dose
of this since the extreme penalty i'm
posed on one corporation, with linn
tied number of shareholders, has caus-
ed a loss of confidence, reflected in a
falling stock market, Tightening of
money and a fear of the future. The
newspapers are full of this slump and
reflect the feeling of unrest. They
ascribe it to but one thing.
ALREADY DRIFTING TOWARD
ROCKS.
What will be the effect when SINH
lar action is taken against corpora
tions with myriads of stockholders
scattered throughout the country, the
investors the widows, the orphans.
There can be but one answer. The
present situation will be intensified
many fold. 1t does not require an ex-
pert to reason this out. The most |
superficial thinker can do it.
'I will go further and say today |
with its reports every five minutes of
new actions and of heavy fines, the
country is already beginning to drift |
toward the rocks of financial depres-
sion.
Confidence is gone, and confidence |
is the basis of all prosperity. With |
confidence established there can be no
stopping of the wheels of progress. |
IL oil 10 OF a
1.-THE investor great and small, locks
I'D his money and refuses to venture
forth.
Il do not need your stock market
report. your editorials, your predictions
and forebodings to prove to myself
the truth of my words. l have anoth-
err way of knowing absolutely-a way
which has never failed me in the long
years of my business career. That is
the way l am judging the financial
situation-from the attitude of the
financial world toward myself. Let
me illustrate.
'There was time not long ago, be-
fore the present runaway, hit or miss,
impulsive agitation began, that I would
be called up on the telephone, say by
Kuhn, Loeb & Co., say by Mr.. Nor
gan's office, and in terms asked if I
wanted to come in q syndicate, and
certain allotment of shares would be
given to me, but I was also told that
/ would have to make immediate an
swer. If my reply was that I needed
several days for consideration, the
telephone receiver would be hung up
and in all likelihood when [ called up
several days later and said l would
go in the syndicate 1 would be CURLY
informed that 1 had lost my oppor-
tunity-that the syndicate had been
completed.
IS OFFERED SEVEN PER CENT.
FOR LOAN.
What is the situation now? I am
called and asked to participate IN
many syndicates, but in none of them
is the time for decision fixed on the
instant. Instead of the former attf-
| tude, 1 know they are content to await
my decision, and I know there is no
| danger that 1 will be too late.
II can judge in another way. Re
quests are coming to me today for
| money from quarters it was least ex-
| pected would be asking for money