The Hawaiian gazette., 1911-09-08
C0NELING HAS
TWO TONS COLD
Bringing Il Along IN the Strong
Box Of Army Transport
Logan.
lFtom weanesdnr . AdtorlI.er. }

(Ffom Wednesdays q Advortiser)
when The transport Logan sailed
from san Francisco yesterday she bad
on board Treasurer d. l.. Conkiing and
81 10000 ia gold, to say nothing Of sew.
eral thousand dollars in permi1ms.
Conkling didn' = take paper from the
back casters; ho wanted the stuff call
in gold, please" and ne got it. The
coin stacks up to a bulk Of 1900 pounds
avoirdupois
Conkling knows that the people down
here like to see real money. They
don't care m1eh for greenbacks-un-
less they are free and then they would
be suspicious of them--nor world one
draft satisfy the popular idea Of a mil
lion and half loan. Therefore tie
treasurer arranged to get the cold cash.
After he had made delivery of the
bonds in New York, Mr.. COnkling at
once banked the gold he received and
went to Washington. There here ar
ranged that he could send the gold
from San Francisco by a transport.
| Always keen to save the Territory
money, Mr. Conkling arranged with
the treasury for the transfer of the
money from the s1btreasury in New
York to the subtreasury in San Fran.
cisco, without cost to Hawai-. He has
also sought to make arrangements
VIII ch will avoid payment of large com
missions for making the money avail
able in Honolulu.
He notified the Governor yesterday
of his departure on the transport and
of the fact that he expects to arrive
here next Monday. HIS ''side part
ner" in the bond floating business, At
torney Hemenway, returned on the
Wilhelmina yesterday and called upon
the Governor shortly after his arrival.
He brought the pleas ng intelligence
that when the Territory goes East for
the balance of the $3,750,O00 loan it
may sell the bonds at an even better
premium than has inst been obtained.
On the Coast, Mr.. Conkling told what
Hawai- is doing in the way of prepara-
ton for the opening of the Panama
Canal. The Call reports him as fol-
| lows.
Hawaii is making great prepara.
tions for the opening of the Panama
/ Canal,' said D. l.. Conkling. Treasurer
of the Territory of Hawaii, at the
Stewart Hotel yesterday. He has just
returned from the East, where he dis
posed of 81 ,500,0 900 bond issue for the
Territory. the proceeds of which will be
used in various internal Improvements
pr; r;ncipal among which are harbor en-
largements, which win be necessary
TO meet the trade expansion expected
with the opening of the Panama Canal
Conkling disposed of the bond issue
more advantageously than any other
ever authorized by the territorial gov
Yernment, placing the 81 800, 900 issue in
Boston, Cincinnati, Indianapolis and
Evansville at premium of 1.5s. The
bonds are twenty-thirties at per cent.
"Harbor improvements, road work
public buildings, water works and sew
Ners will get the major portion of the
proceeds of the issue,' said Conkling,
sfThe Territory's total bonded indebt-
l'edness now is $5,500,000. The needs
are great owing to the rapid develop
ment of the country. In Honolulu wa
ter works facilities are too few, and the
growth of the city is making the prob
lem of supplying adequate sewerage
equipment difficult The need of har-
Dor improvements is great. Very few
people seem to realize what great ports
we nave. The customs district com
prisng the Hawaiian Islands is thlr-
teenth in the United States in the
amount of it's customs duties. The cls,
toms collections are three times great.
er than those of all the other United
States Territories together"