Evening bulletin. [volume] (Honolulu [Oahu, Hawaii]) 1895-1912, 1910-01-01
ffFNf fy'4rTs g-FwtvTt 49,
IN BUSINESS CIRCLES

III DS0ub vo0AD
.ssS 90 sFi :
The year, 1909 holds the record Of
prosperous. years for the city OF Homo
lulu and the, Territory of Hawaii. II
Never in the history of these Islands
has year closed with so much OF
financial prosperity behind It and such
an assurance Of progress In the future.
In what are known as tho boom
days there was perhaps more show of
apparent progress and development.
AT that time great plans were on foot,
the business Of the place was expand.
ing and money was coming in from the
mainland to finance sugar plantations
promoted, and to build the. splendid
business blocks that were put up. But
the Immediate result OF all the devel.
opment and increased business was
debt. The plantations were heavily
bonded. and the people were more or
less In debt to pay for their holdings.
This year closes with the greater
part Of those debts paid of. Hawaii
has changed from section Of. the
country owing much to outside hnan.
cial centers, to commonwealth with
Its cebts paid of, and money to spare
for investment. Besides liquidating
millions Of Its bonded indebtedness,
Hawaii has bought hack from San
Francisco and maitland holders furth-
or millions Of dollars worth Of sugar
stocks. and at figures that have given
the local holders a splendid profit in
the enhanced value of their securities
as well as exceptionally good divl.
dends.
The exact amount Of the purchases
from mainland holders is difficult to
estimate. but It reaches millions, and
the dividends paid out on the stocks
listed on the Honolulu Stock and Bond
Exchange will average In the vicinity
OF six hundred thousand dollars
month or something like seven millions
of dollars for the year.
While the debts have been paid, div.
idends come in and bond issues called
In. there has not been lack of will.
ingness to back. large enterprises and
return the money to local channels for
further development.
One of the notable Rotations OF the
year is the eight hundred thousand
dollar bond issue for the Hakalau ex.
tension OF the Hilo Railway. The i'm.
provement of the telephone system OF
. the city Of Honolulu calls for some
thing like q quarter OF a million dol.
lars or will before 1t Is completed. The
four hundred thousand dollars trans.
action in Alexander, & BALDWIN. stock
meant that an equal amount of money
, and more has gone into development
enterprises, for agriculture and trans.
portation. large sum OF local money
has also been invested. to enable local
$ corporations to handle the great dredg.
Ing contract OF Pearl Harbor that is
. well under way, and also the construc-
ton Of the Hilo breakwater. This will
all come back In due time with good
Interest Of course, but 1t nevertheless
requires coin to start, and courage on
The part of local business men to
tackle government work that has the
reputation In other parts Of the coun.
try OF being not always profitable.
Money has come into the Islands on
account of the high range of prices for
sugar and II has been freely invested
The banks will close the year 1908
with larger SURPRISES than have ever
been recorded. The deposits have In.
creased not only In the total amount
deposited but what is more to the
point, there are more dOpositors. more
savings accounts.
General prosperity IL also evidenced
In the records Of the Registrar of Con.
veyances. The proportion OF deeds Is
f, larger and the number of foreclosures
Is smaller than for many years. More
homes have been paid for and more
residences for what IL sometimes
called the middle class, are built aud
building.
~ Aside from the prosperity resulting
from the good price OF sugar, the sta.
bility Of the sugar and pineapple In.
dustries In consequence OF favorable
: tariff legislation, the activities of tho
! Federal Government have been power,
full factors OF good times for the work.
ing men. ...s ~
~ Schofeld Barracks have been erect
red during the year. furnishing employ.
ment for all the skilled workmen that
i the city had, for a time. The WORT ON
the Notifications at Diamond g Head,
Pearl Harbor. and. Waikiki have all
4; called into action the working men OF
2 the city at good wages. besides adding
TO the number of desirable citizens
brought here from the mainland. Fort
Shafter has been enlarged and the end
Is not yet. And In this connection the