The Hawaiian gazette., 1907-11-01

sixty days and will be cashed by the Z
Thus the first tangible effect on Ha
vail, of the panic which has been go
ing on for the past two weeks on til,
mainland. reached this city yesterda.
morning, when cablegrams were re-
ceived from the San Francisco bank.
ing interests, stating there would be nc
more shipments of coin to this city
! from the Coast until the financial dis
| turbances had been ended. The ad-
methods OF payments through clear
ing-house certificates has been re-
ceived here by all four banks, but for
the present nothing of this kind will
be done, as it does not appear that
any such measure is needed here, and
it would only have the effect of caus-
ing more or less trouble which is
looked on as unnecessary.
The only effect which the cable
grams from San Francisco will have
on the local financial situat ion is in
ally imported from the mainland for
use in the payment of taxes, and any
rrorrh1a ho-
avoided by prompt action on the part
Of Governor Frear. He has issued no
tice TO all four banks that for the pc
Rod of sixty days payment of taxes
made in certificates of deposit with
any of the four local banks, will be
accepted
By reason of this move the need of
money from San Francisco will
amount to very little. and the gov
eminent will not be Inconvenience at
all on account of the fact that the
Of a large part of the taxes,
now due and delinquent after Novem-
Der Is, has already been made, which
places sufficient cash in the hands of !
the Territorial Treasurer to make all |
payments that are needed.
In order that the cash which is
here now may be kept in the country
as much as possible, two of the banks
have adopted a scheme of endorse
ment, which will probably be follow
I'd by the others. This is to endorse
al drafts of exchange of over $500,
which are drawn on San Francisco,
Payable in clearinghouse certif-
,ates." For amounts smaller than
his the ordinary drafts, without the
will be used.
In speaking of the situation last
light, C. N. Cooke, president of the
Bank of Hawaii, said:
The situation here is normal, and
here is absolutely no cause for alarm.
feelings Of the representatives of the
our banks of the city have been held,
I which it was decided not to adopt I
he use of clearinghouse certificates
ere unless it should be found neces-
airy at a later date. A committee ,
D look into this matter, should it bel
1und best to adopt this course, was
ppointed, consisting of myself and
cell Brown of the First National !
ank- We have not even made any $
arrangements for a meeting as yet, ]
nd do not expect to take any action
! present
The fact that taxes can be paid
the form of certificates of deposit q
i'll have the effect Of taking away j
~ hardship which might be brought .
4
Iange of seed with botanical gardens c
Id other corporations and individuals Il
various parts Of the world Seed Il
many valuable trees and plants n
" to the isla nds have been re- g
lived and are now being propagated OF
the nursery. b,
Perhaps Of the greatest present in pl
rest are two new species Of rubber N
ses from Brazil, sent from Germany. u
ley both belong 10 the genus Mani "
{, Of which the Ceara rubber, so hi
II known locally, has heretofore re
an considered the only rubber-pro-
cling species Plants have been su
lrted at the nursery and sent IN Nal n
lu for trial As IS usual at this to
lson Of the year. many trees and 10
-Hts have recently been furnished to
the schools for Arbor Day plant vi
: ca
The new laboratory Of the Division til
Animal Industry was completed in ag
1tember and is now ready for oc-
,ancy." SCI