The Hawaiian star. [volume] (Honolulu [Oahu]) 1893-1912, 1908-03-27

Henry Clews banker is opsmisc than
in his weekly circular at hand TO-DAY He saws that the money market
has easy that good borrowers money is likely be
plentiful comparatively rates for time to and adds
that the stock market steadily improving The following
of his comments and forecasts:
The disturbing feature the political situation It will be
the interval likely witness less political agitation Just
be good politics to attack railroads corporations
capital any form This unfortunate and highly injurious but
is be hoped that this phase o political demena will pass
off, and that politicians well the public will to
settled political Much of the agitation against the
railroads only public revenge for past mdeed but also repre-
positive fear the part of the public concerning the enormous
power welded by agnates The tendency power
grow the country becomes dense settled and railroad
systems expand Such fear perfectly NATURAL and the way
escape venting itself in udged attacks upon the railroads
eecua of government oversight regulation
Wise regulation of the aropads will prevent all the evils and
good public ownership Of methods of control
naguaed cand for they matters of experience
wisdom and time One Of the greatest of public fear how
tendency of railroads toward combination although the
public could in be better served by the unicaton OF
of great systems.
he eff $8 100000 the 100000 York State
per cent loan at 100 highly suggestive They Showed
that there abundance of capital seeking investment where
cuy and credit unquestoned Contrast this with bids of $780,
for the $5ooooooo New York City AZ per about
1914 State was subscribed
city loan only about five tves while the cent State issue
brg much better price than the city ~ cent bond Some
allowance must of be made for the difference size of the
two loans and the fact that financial conditions somewhat better
for the State issue But this does not fully explain the difference in
the issues New York city has been extravagan only its
increase of running expenses which have been out of all proportion
to its growth in population but its OUTLAWS various public inn
These have been carried supendous SCALE and
oen at much greater cost than done by private capital Many
of these improvements have been imperative particularly those rea
ing transportation yet they could have been better accomplished by
private capital properly regulated and then the cys credit would
not have been threatened now is New York net the only city
which has injured its credit this Conservative well
governed cities England and Germany have also had the
pence Municipal ownership ideas proving extremely costly for
the taxpayer and already plain that had better return to pr
vae enterprise the furnishing of public utilities Proper regulation
will easily prevent repetition of past abuses and there would be less
water in such investments than Of the costly public works
where ineficiency multpies
Il quite of the opinion that proposed of the
Stock Exchange will be welcomed by that body The Exchange itself
has nothing fear for there business organization in the
try where higher standards of honesty prevail Commissioner Knox
Smith, sure will be given every opportunity for investigation
and the results will doubt do much towards removing the
sonng prejudice against the Exchange and the legitimacy and
necessity OF its operations for prepared open the books
of my firm to his inspection Every transaction will be proved eg
mate Ny customers always promptly advised of purchases
sales for their and the brokers the