Evening bulletin. [volume] (Honolulu [Oahu, Hawaii]) 1895-1912, 1909-08-28

Retirement of buyers from the
market for the time peing and the
death of Chas. NJ. Cooke are the dis
tinctive features of the business dur
ing the week just passed. The aucs.
ton will naturally be asked whether
there is any connection between the
weakening of the market and the
demise OF the admittedly strong
leader of business and finance.
There is none. Mr.. Cooke, SO far
as financial power was concerned,
was to Hawaii what Hartman or
Morgan are to the mainland, but ne
did not exercise that power in any
such manner as the mainlanders.
Furthermore Mr. Cooke was known
to be steadily failing for weeks, and
previous to the stroke that finally
ended his life he had passed the ac-
tive administration of his many
business affairs and alliances over to
his sons and younger associates.
The weakness of the stock mar
ket during the latter part of the
week and in the face Of an advance
in the price of sugar was simply one
of those calm spots that must occur
in n market as limited as ours, in
which the people go out OF the mar
ket to take breath. They are all
supplied, and the activity will not
return until perhaps the first of the
month, when more dividend money
will come in and there may be some
change from one security to another.
Although the stock market has
been duh and receding the last two
days of the week. II was not without
Its evidences of strength and new
developments. The sale of a large
block of Hawaiian Commercial to
coast people at 34.5O was a feature.
and also the sale OF $4,000 Of Hilo
Railway bonds at 80, an advance
from SO, showed that the tendency
Is still forward, and that the island
securities are well thought Of
abroad and the new enterprises are
gaining support.
Among the popular stocks, Waia-
lua, after advancing to 116 and sell.
ing strong at that figure, dropped
out of the market, and the quotation
but no stock came out at that figure.
but no stock came on ut that figure,
nor is 1t likely to. With an advanc.
ing sugar price this stock will prob
ably go to 100 unless the agents
give out some statement that will
bear" the market, and this seems
hardly probable, as the property Is
in splendid condition.
Oahu and Eva have held their
usual place on the list, although
the trading is not so active as In
previous. weeks. Pioneer Is advance
Ing and has reached 100 asked and
apparently strong at that figure.
There is considerable bidding for
Honkaa from the coast, but thus far
1t has been below the local figure of
1925 asked. so
lnter.lsland took a tumble this
week, falling OF from III to 1Os,5O
on a sale OF seven shares, and for
no apparently good reason. Brew
cry stock is strong at 23 IA. Pine
apple is not to be ha. The sales OF
such high-priccd stocks as Hawaiian
Agricultural, Hawaiian Sugar. Ono
mea and the like are few and far be.
tween. The course OF the inexpen-
sive stocks is peculiar. Olaa and
McBryde offer better opportunities
for making money on an advance
than anything In the market. yet the
crowd has such a memory of former
occasions that 1t takes only nibble
and then quits One hundred Nc
Bryde sold on Thursday at 3.75,
which is a very low figure, for II
McBryde is not worth more than
this figure 1t isn't worth anything.
The same may be said Of sales of
Olaa at $50. Both Of these planta-
tions promise well, as they are maxi
ing Roadway over their Indebtedness.
but the knocker cannot withhold
from taking 1t out on these old-time
victims. -.'
Money is very plentiful. As a
matter of fact Il Is more than like