The Hawaiian star. [volume] (Honolulu [Oahu]) 1893-1912, 1910-05-17
THE INTER-ISLAND
RATE MATTER UP

President Morgan, of the Chamber
Iof Commerce, has issued a letter to
members of he Chamber in which the
situation in regard to Federal regu-
lation Of inter-island shipping rates
was explained. Opinions as to what
should be done were invited. These
letters have been sent out by Secre-
tary Cooper and answers will doubt
less begin coming in during the after
moon. That special meeting of the
Chamber for the discussion of the
matter may be asked for is quite pos
Isible. In the meanwhile, the DISPOSE
! ton of some of the "higher-ups" in
the Chamber is to side-step on the
proposition.
Opinion in the Merchants Associa-
! ton is not crystallized as yet; but
there seems to be a strong feeling in
favor of endorsing the proposed legis-
lation. From the shape matters are
now taking, it seems probable that a
meeting of the directorate will be call
ed to consider the matter, and that
the subject will then be passed on
to a general meeting OF the Associa-
, tion-also probably, special.
The Delegate and Secretary McClel-
Ian appear to be waiting at Washing
ton for news of the pleasure of Ho-
nolulu's commercial bodies; and this
state of things will probably hurry
formal action of some sort.
Outside of those Immediately inter
ested, the seriousness of the matter as
a community business problem does not
seem to have impressed itself to any
alarming degree.
E>S>SSH<SS<SS<SSS&S SSSSSSeS$ScSeSsSSS
have receded materially from the top
level, weakening the confidence of
holders, and the new crops are only
three or four months distant. The
outlok is now for larger Nexports of
grain and cotton, which will add to the
supply of commercial bills, and thus
render still more remote any POSSIBLE
ity of gold shipments. 1t is now evil
dent that many of the abnormal fea-
lures resulting from the late boon
are correcting themselves, and gra.
dually but surely readiustment will
bring us into more normal conditions.
The outlook for the stock market
| has been distinctly improved by the
placing of these new issues and by
the readjustment which is going on II
the commercial markets. TRADE re-
ports from the West, though conserva-
tive, are generally encouraging. Il
is true there\ has been much specula.
ton in land and other directions, but
these movements do not appear e
have reached danger point, and the
hand Of restraint is already being I'M.
posed by the more prudent class o.
interior bankers. The best authori.
ties state that az yet the business sit
uation has not been endangered ol
these excuses. A distinctly better
tone is observable in the European
money markets, ana the lower rates
for money existing over there will
> facilitate the distribution of American
. bond issues which have generally baei
; placed on attractive terms. The mo
, notary situation here also is improv
ing, the stringency incidental to Ma,
disbursements having been passe,
without any untoward developments
: Our leading stocks have shown mark
ed declines since the first of January
, and are now selling at rates tina
should be attractive to investors. Sc
; curities have been passing from wea
a into stronger hands; the situation ha
been thoroughly tested, and there
now flrmer basis for confidence tha
has been seen any time during tn
current year.