Evening bulletin. [volume] (Honolulu [Oahu, Hawaii]) 1895-1912, 1908-11-04
SAILING TOMORROW
SAIL FRIDAY
PASSENGERS BOOKED

Per stmr. Kinau, Gregory, for Ha-
uai, Nov. :, D. III. W. \. Davies,
Miss Helen Mnciarlanc, Miss Alice
Macrarlanc
Per stmr. Claudinc. bennett, for
Maui, Nov. 6, Z y. nc. q. Hotel.
p. G. Hotel. Mrs. Pcnhaliow and two
| children.
= X 81 y - - ~ y ,: y * :. - y - y
means an absolute protection for the
| public. II Is primarily protection for
the bankers themselves. who must be
guarded against the misconduct of
their follows. We contemplate plac.
! ing In operation through the Statn
| Clearinghouse Association u bank
guarantee which will he superior to
any protection that can BE- afforded by
| legislation however broad aud drastic
! IL may be. There will not be the
slightest possibility Of any banking
corporation or private banker impair
! ing resources to such ;u extent that
other bankers and the public will he
! injured.
| "a bank Is not insOlvCnt until its
capital stock, surplus and deposits arc
exhausted. u requires considerable
| time to place a bank in that condition.
and We propose to detect the first ten.
dency toward mismanagemcnt and ar
rest that tendency before the harm
becomes general and disastrous. We
will know every transaction of every
bank and we viii have definite knOwI-
edge of the character Of the assets of
every bank"
Points Out Benefita.
4. ID. Roberts president of the San
Rcrnardino National Bank and num-
Der Of other institutions in Southern
California, cites rs notable benefit
which will result from the Inaugural
ton of the State Clearinghouse AsaO-
citation the return to California, and
particularly to san Francisco and Los
Angeles the only reserve cites In the
State, Of the largo balances which are
now being carried IN New York, Chi
cagO and other Eastern cities. Since
the financial siringency of last fall.
says Roberts, The greater portion OF
the balances formerly carried in san
Francisco and Los Angeles was trans.
ierrcd to Eastern banks. It is IN item
OF many millions OF dollars. and it's
loss has been felt In the State.
THE districts which have been ere.
ricd under the association will have
the effect OF unilying the interests Of
bankers TO such an extent that We
will have Il more complete confidence
in ourselves than ever before. Such
confidence in the banks of our own
districts and our own State can only
be productive Of unreasonable benefit
to California. The simultaneous show
down of bank statcmcnts. which will
he part of the examination system
0f the association, viii also be prolIIc.
tive of great good
Statements viii be Regular.
! Hitherto, statements were shown
down irregulariy first by one bank
and then probably three weeks later
by another bank. II the statement
did not make Il particularly good show.
ing the bank would not publish it ami
We have not had AT any time fair
knowledge Of the condition of Other.
banks. We will not ordinarily have
such knowledge, inasmuch as a banks
business is held in the strictest conf.
dence by tho examiner. But our en-
aminers Will all hc men far above an.
Toach, and We will know Immediately
of the first display of misconduct
Then the other banks through the
president Of their district, and the
committee OF management, can deal
with the offending institution. In this
way We VIII have an incompatible
and hitherto Unprecedented protection.
both for ourselves ana the public. be,
cause the possibility of bank failure
Will be absolutely eliminated.