The Pacific commercial advertiser. [volume] (Honolulu, Hawaiian Islands) 1885-1921, 1908-05-17

many other enterprises which cover
practically the entire commercial and
industrial field.
The Mitsui banking business was
founded over two hundred years ago
and is deeply rooted in the soil of
japanese finance. These banks financ-
ed the Restoration and in 1871 the Nit
suis decided TO organize Central
Bank of Japan. For that purpose they
erected a agnificent stone building in
Yokohama. But in 1872 the govern
nent decided to adopt the American
banking system and the First National
Bank of japan was organized. This
compelled the Mitsuis to abandon their
plan, but they became the principal
shareholders in the new national bank.
They turned over TO it the house the
family had erected for it's own pur-
poses which remains today one of the
finest structures in the entire Empire.
Later, in 1876, the Mitsui Bank was
organized. Although not the official
bankers of the government, it is a well
known fact that now, in the times of
financial stress, the Mitsui family is
practically carrying upon its broad
shoulders the credit of the Japanese
nation.
The export business of the Mitsuis
is the most extensive in the country.
They ship millions of dollars worth
of raw silk to New York each year,
being the largest handlers of silk in
the world. They were pioneers in the
export of Japanese rice and do an in
ternational business in this staple.
Among the many articles included in
their export business are coal, cotton
yarn, cotton cloth, copper, silver, coral,
cement, timber, railway sleepers, sui
phur, matches and so on.
Their import business is conducted
on an equally large scale. Their COM
mercial Importance to the United
States is shown by the fact that they
are the agents in Japan for the Amer
lean Bridge Company, the United
States Steel Corporation and the Cen
eral Electric Company. The list of
their imports includes such important
items as steamers, warships, ord
nance, locomotives. steel bridges, cleo
trical machines, pig iron, wire, lead,
tin. zinc. machinery of all kinds, and
material for railway equipment. AL |
though equipped with a great fleet |
suis find it inadequate to meet their |!
needs, and are known as one of the
great charterers of steam and sail
tonnage in London and in the East. /
This great commercial concern has +
been engaged in the mining industry
since 1883 when it bought from the
government the extensive Mike coal
field. This tract comprises an area of
square miles. Since the mines passed
into the control of the Mitsuis no ex-
pense has been spared in providing the
best and newest appliances to de-
velop the property and make it one Of
the great mining enterprises of the
world. There are several seams of .
coal in the Mike field. but only the
first and second seams are capable of
being profitably worked. These mines
give employment to over 5000 miners .
and workmen. and the coal is convey
ed to market by 200 schooner-rigged
barges. Aside from the coal mines,
the Mitsuis also own and operate
silver. copper. lead and sulphur mines.
A noteworthy fact about the Mitsui
family is that Notwithstanding its
long history reaching back 10 the six
teenth century, it has not taken on
the crust of conservatism which char
acterizes so many old business es-
adjustments. That if is the head OF
so many phases of the industrial life
Of Japan. that ii is the foundation or
the national credit at this time. and
that no japanese firm is so well known
in the outside world. proves that its
economical influence in Japan is of
the first magnitude.
But the interests Of the Mitsuis are
by no means confined TO those in
1ustries which are conducted under
the family name. The family owns
stock to the amount Of millions in
other concerns in Japan. and on &C