The Hawaiian gazette., 1909-10-26
Commercial Review

! Commerce
Nearly two weeks of apathy on tn
by sudden, vigorous advance in virtus
back to normal condition, with indicati
No good reason has yet been disco
part of the week of a number of the 81
perhaps, it was the weather, which was |
and dull the faculties even of stockbro
of fresh, bright day, with a booming
traders brains, business became brisk a
The advance, however, was by no
means in the nature of boom. No
commodity was driven above it's nor
NAL price, and consequently there is
little danger of dangerous slump. In
fact, the feeling expressed among the
brokers generally is that the coming
week will see better prices and more
trading.
The most phenomenal stock of the
week was Pioneer, which, opening at
lSl.25 on Monday, was driven down
by Thursday to 1850. and remained
there until yesterday, when it sudden
ly sprang back to 1S2 bid and 1874
asked, several bids of 1925 being
refused after the exchange closed. The
fall in the price, however, is regarded
as artificially produced, one of the
larger outside operators making
strong effort by unloading methods to
beat the stock down to a point at
which he could load up again with
prospects of a good profit to himself.
The attempt, however, failed of sue
cess, and when the pressure was re-
moved the stock rebounded sharply to
normal.
Waialua Slumps.
Waialua was about the only stock
| quoted which failed to respond yester-
| day to the general buoyant movement.
| 1t sank steadily all week from liz
| starting to 1925 when the exchange
closed yesterday. None of the dealers
gives any explanation of the decline.
olaa Up to $50.
Olaa exhibited healthy tendency,
advancing steadily during the week
through all the fractions from to the
selling price Of $50 made yesterday.
Over $50 shares changed hands during
the week.
McBryde Sympathetic.
McBryde also exhibited an upward
tendency, possibly sympathetic, ad-
vancing sharply from 3.s75 to
closing price of 4.50. Trading in this
stock, however, was not so heavy as
in Olaa.
Paauhau Jumps.
The exchange sat up and opened its
eyes yesterday when Paauhau, which
had been selling at 81, was promptly
bid up to 90, with one broker eager to
get it at that and offering to take
from 500 to 1000 at 2S to 1925. The
| advance is said to be a reflection of
the San Francisco market, this being
| Bay City stock. Those who say they
know contend that there never was
any reason for the slump to 81, and
that 90 is no better than a normal
price for the stock.
Eva Up Half.
Eva advanced half a point, reflect
ing the announcement of an extra 2
| per cent dividend. Little offered,
however, and there was no trading to
speak of.
Hutchinson Gains.
Hutchinson made n gain of half
point during the week, selling yester-
day at 16.625, as against earlier bids
| of 1926.
Other stocks were for the most part
| quiescent during the week and trading
| was extraordinarily light.
The bond market was fairly vigor
| Gus, probably because of the large
amount of idle money awaiting
| chance of investment. Hilo r. X. 6s,
opening at 100 on Monday, advanced
steadily throughout the week, reach
ing 1875 yesterday. with amounts to-
falling $4,000 changing hands at the
latter figure.
Caused Furry.
| Considerable of furry was caused
on the exchange yesterday by the err.
roneous announcement in the press
| that Waialua had declared an extra
dividend of 2 per cent AS matter
of fact, it was Eva which had de.
clared the extra per cent. dividend
| and any announcement of this kind
concerning Waialua is premature. The
holders of the stock, however, have
strong hopes that such a dividend will
be declared, but nothing can be done
until after the return of Il. ID. Ten
ncy from the Coast. And, anyway,
Waialua does not pay dividends until
the middle of the month.
Money Is Cheap.
An important feature of the com
mercial situation at present, and one