The Hawaiian star. [volume] (Honolulu [Oahu]) 1893-1912, 1909-07-03

This week may be set down as an
exceptionally satisfactory one in a
business way. Money has been easier,
a fact plainly noticeable at the count
ers of the retailers. Country orders
have been fully up to the mark of the
preceding week, the wholesalers begin
ming the new month with a most pro-
missing and satisfactory outlook. Ship
ping to the other islands was estonish-
ingly brisk for this seaon, indicating
that the outside markets have in no.
wise felt the nervousness, incident to
the strike on Oahu. Conditions as a
whole have been remarkably good: and
week closes with hand full of pro-
mise for the coming days.
The banks have had very satisfac-
tory week. Inquiry at all of them
disclosed the fact that business has
been better than had been expected.
Collections have been easier than at
any summer period in years. During
the week the banking house of Bishop
& Company filed a most satisfactory
statement of it's business-a statement
which came in for no little praise from
commercial men. Even more satisfac-
tory, perhaps, was the report of the
Bishop Trust Company, which, al
| though small institution in point of
capital stock, came up with a remark
able showing. A similar report was
made by the Waterhouse Trust Com
lpany.
Several things had TO 40 with the
| stimulus experienced by general bust
ness in the last days of the week.
PAY days" around the first of the
month was an effective agency. Then
the payment of something like $3.50, 900
by the larger corporations in dividends
swelled the flow of gold into the chan
nels of trade. 1t is true that only a
small per cent of such dividends starts
the rounds at once; but enough found
its way into circulation to materially
affect business to the good at the close
OF the week. Another help to business
has been the steady flow of dollars
from the wages of the strikebreakers
This nay occur to some as of small
conseq oence; but these same strike
breakers are creating the biggest boom
the shopkeepers and small dealers have
had in years; and the shopkeepers and
small dealers pass much of their pros
lperity along to the wholesalers.
The decision of the Oahu Railway &
Land Company to call in 100000 OF
its six per cent bonds and to issue il
their stead a like amount of five pei
cent bonds had a most gratifying ter
mination. At the banking house Of
Spreckels e Company, where the ole
bonds were to be turned in and either
cashed or covered by the new bonds
comparatively few holders called fol
the cash, preferring the new bonds al
a lower rate This was a great sur.
prise, indicating, as it surely does, {
stronger financial condition than haC
been anticipated; and, further, tn,
complete confidence of the public il
Oahu Railway securities, even at a low
rate of interest The new bonds are
now being printed and win be ready
for distribution on Tuesday or Wednes
} day of next week.
On June 30 the Honolulu Rapid Tran
sit & Land Co. paid a dividend of
jper cent on preferred stock and a quar-
terly dividend of / per cent on com
mon stock.
There was a decided Strengthening
in several plantation stocks in the las
days of the week. Oahu, which haC
sold as low as sos SIS earlier in tn,
week, rose gradually until Friday, whel
a number Of sales were made as higl
as $30.25. This was a remarkabl,
gain for quiet times in so short
period. Waialua, also, showed new vi
gor, advancing from $SS 80 to $91, ant
even at that figure offerings we're hare
to obtain. The remarkable success o
Oahu in weathering the strike trouble
and the success of Waialua in escaping
the bugaboo, had the effect of enlistini
a mighty interest in those stocks. Ont
great help to the strength of Oahu wal
the decision to keep up the dividends, /
report that they would be cut down
having much to do in precipitating tn,
lslump earlier in the week. One O.
the CitV DanQrs gave as a reason 70