The Hawaiian star. [volume] (Honolulu [Oahu]) 1893-1912, 1910-08-02
ARMY Of TOURISTS
HEADED THIS WAY

The Promotion Committee received
big batch of letters by yesterdays
mail from people all over the United
States telling of their plans to visit
Hawaii in the near future, and refer
ring to other people who are coming
The letters taken altogether indicate
that an army of tourists will be head
ed this way in the autumn and winter
and that at last Honolulu's hotels will
have their hands quite full.
One of the most interesting of these
letters is from L. F. Cockroft, general
passenger agent of the Oceanic Steam
ship Company, who was recently here
and who is taking live interest in
the Islands. Mr.. CocIroft states that,
bookings are already very heavy for
the Sierra, leaving san Francisco on
August 20, and for the same boat sail
ing from the Coast on September 10.
He feels certain that this is only the
beginning of an unprecedentedly busy
season of travel in this direction.
Mr.. Cockroft informs the committee
that his company Is inaugurating a
most extensive campaign of advertis-
ing trips to the Hawaiian Islands.
These advertisements are being pub
lished in the papers of San Francisco,
Los Angeles, Portland and Seattle.
S%+-~+:.%+-%+:~-:...c.' 80.
later on. Improvement is already de.
veloping in the cotton goods industry,
the necessities of consumers COMPEL
ing buyers to take hold with more
freedom. The copper industry is still
in very unsatisfactory condition ow-
ing to continued overproduction, but
apparently well founded rumors of
agreement to curtail between the big
producers this week have impaired a
decidedly letter tone in this import
ant industry.
Liquidation in railroad stocks has
been radical Six months" decline
has brought no important failures,
and produced no signs of real uneasi-
ness. Foreign opinion is still criti-
cal of American securities and Anne
rican management, yet the fact re-
mains that Europe has made no bet
ter investments outside of it's own
domain than in the United States. Our
credit abroad is good, and when the
turn comes Europe will no doubt
} again be found ready purchaser of
our investments, having absorbed not
less than $1SO,OOO,OOO during the first
six months of the current year. The
present is not a time for despair in
Wall street. Readjustment has been
going on for many months, and the
unfavorable conditions not observable
elsewhere have in many instances
been fairly discounted. Our financial
leaders are wisely indisposed to en-,
courage any stock market boom at
this time with period of possible
financial stringency before them. The
probabilities, however, are that high
grade securities are scraping on rock
bottom. Many such issues are selling
at a level exceedingly attractive to in
vestors, and current dividends pay
more than present carrying charges
AS for dividend prospects there is nc
reason for anticipating shrinkage, un
less it be in the industrials, which
have declined less than railroad
shares and will have to take the brunt
; of any business reaction; Nationa
Lead being an. unpleasant example
It is true railroad expenses have in
creased enormously during the pas
half year, sometimes offsetting the in
crease in earnings, but considerable
portion of these outlays were for i'm
provements and extensions, which
= when completed will be an assistance
: and not a burden to earning power. +
J is always within the capacity of the
: railroads to effect important econo