The Hawaiian gazette., 1911-05-26
GONELING Off TO
RAISE THE WIND
SAILS TODAY TO TALK BONDS
WITH FmANorhRs ON
WALL STREET.
IrTom wcdncsday's Advortlsor,)

NNrum MNNuNtuAN AANtNNAHtAsl
Territorial Treasurer d. l.. Conkling
will leave for the Coast on the Matson
liner wilholmina this morning, in com.
pany with Attorney Charles r. Hemen.
way, TO attend the fiotation Of the mil
lion and half dollars worth Of bonds.
They will proceed direct to New York
from San Francisco. Treasurer Conl.
ling will conduct the negotiations with
the finaneiers while Attorney Hemen
way will take care Of the legal end
of the bond issue. During Mr.. Conk.
ling s absence from the Territory, Hen
~ c. Hapai, registrar of public ac
counts, will be acting treasurer. Audi.
tor J. H. Fisher counted the cash last
night and Mr.. Conkling turned over ev.
erytbing to Mr.. Hapai, so that the lat
ter will be in charge as soon as the
office opens this morning.
owe have had several inquiries as
to the issue and they appear to come
from people who will probably be bid
ders,' said Mr.. Conkling last night.
The matter of the bond issued en-
gagged the earnest attention of Gov
ernor Frear during practically the whole
of yesterday and the previous day. The
Governor has prepared two statements
dealing with the finances of the Trri-
tory which show a singularly healthy
state of affairs. One statement shows
the bonded Indebtedness of the Terri
tory from its organization on June IA,
1900, to May 1, 1911, the bonds issued,
those retired and the outstanding
bonds. The statement follows:
Bonds Issued.
June IA, 19OO-Bonds outstanding, so
May /, 1903-Fire claims bonds,
5-15, 49e, $685.
October l, 1903-Publie Improvement
bonds, 5-15, 4 1870, 100000.
January Q, 1905-Public improve
ment bonds, 5-15, 1-4g6, 100000.
October 4, 5-Refunding bonds,
5-15, 4Go, 5000, 900.
January 2, 1906-Public improve
ment bonds, 5-15, 1875, $750,0O0.
| October l, l907-Public improvement
bonds, Sis. 8 1870, 1924, 900.
| October /, 1909-Public improvement
bonds, SIS, 3 1870, 100000.
Total, $S,S73,4OO.
Bonds Retired.
(By biennial fiscal periods.)
Paid by the United States under
agreement of annexation, cash 6's and
SIS, 1924, 400.
Paid by Territory:
June IA, 1900, to June 80, 1901, cash
SIS, $4,000.
July !, 1901, to June 80, 1908, cash
SIS, $4,000.
July i, 1908, to June 80, 1905, cash
ISIS, 100000.
|. October 4, 1905-Proceeds of 4eS re.
fund bonds SIS, 100000.
July 1, 1905, to June 80, 1907, cash
ISIS, $4,000.
July l, 1907, to June 80, 1909, cash
AS, $l55,OOO.
Total, $4,369,40O.
Balance outstanding, $4,000, 900.
Outstanding Bonds.
Statement of the outstanding bonds
of the Territory, May /, 1911:
Fire claims, 40, 100000.
Refunding, 4fc, 100000.
Public improvement, 1920, $1,000.
Public improvement, 41.49s, $1,000.
Public improvement, sl.29o, 1924.
Total, $4,oo4,Ooo.
Credit Is Good.
The second statement deals with
public improvement bonds issued under
the present laws and shows that Ha
waii' 8 credit in the financial world i.
steadily improving, as indicated by the
actual interest the Territory has to pay
on its various bonds, and the price
which they fetch. When Hawaiian five
to fifteen year bonds were sold in New
York, October l, 1903, they bore inter
est at four and one.half per cent. anC
the issue of $l,000,00O sold at slightly
over par. In January, 1905, anothe
! million dollars worth of fve-fifteeI
year bonds were sold in New York
bearing interest at four and one quar-
} ter per cent. They sold at 100.1O, whicl
} made the actual interest on basis o.
! 420.
On the next occasion that the Terri
tory sought TO sell bonds in New York
[ which was year later, three and one
1 half per cent. was the amount of tn
! interest; the price received for eacl
! one hundred bond was 99.125, whicl
made the actual interest 3.57. TIL
issue was for $750,000.
: In October, 1907, the Territory dis
> posed of an issue of $4,000 FIVE t.
, fifteen year three and one-half pc
: cent bonds at 98.115, which made tn
actual interest to the purchasers 3.5
per cent, The whole issue was take
in Honolulu. Another issue of 100000
. made on October l, 1909, bearing in
terest at per cent, was also take
locally at 1925, which made the actua
interest yield $50.
Five Issues.
These FIVE issues aggregated 1924
J 600 out Of $75Oo,OOo authorized. Bond