The Hawaiian gazette., 1911-07-21
INVITES EUROPE
TO BUY OUR
BONDS
Treasurer COnkIing Is
Advertising Across
Big Pond.
HAWAII ON TICKER
The Figures Of Prosperity
Inform World Of
Our Progress.

lrrom weanesday, Advertisor. }

Il
Financiers of London, Paris and Ber-
lin. as well as those of the principal
monetary eenters of the United States,
have been invited to bid for the Ter
ritory's public improvement bonds. This
fact was learned by Governor Frear
yesterday, it being mentioned by Treas
urer d. l.. Conkling in letter which
the Governor received per the Nip
pom Maru.
The treasurer inclosed copies of the
prospectus which he stated have been
sent to the European financial centers
mentioned and have been distributed in
New York, Chicago, Boston, Philadel-
nhia. Cincinnati and Others of the large
cities of the United States. AS the
nrosnectus contains a financial and
statistical statement showing the as
sessed valuations of property for pur-
noses of taxation, and the values of Inn
ports and exports since the organlza-
tion of territorial government, together
with customs receipts and other figures,
the financiers of the old world as well
as of the new will be able to form an
estimate of the growing Importance Of
this Territory.
Hawaii on the "Ticker."
The prospectus is ten pages in length
and two Of the pages are devoted to
the financial and statistical statement
mention. Treasurer Conkling writes
that since the appearance Of the ad
vertisement calling for tenders for th'
bonds inquiries have been coming II
very generally. He made arrangement
to put the advertisement on the
chicken In that way 1t was put int
the Offices of several hundred peo
ple inerested in bonds in New York
Chicago, Boston and other cities.
Mr. Conkling's letter was writtel
only a few days after the advertise
ment had been displayed on the "tape
but already he had had inquiries. fron
Boston, Philadelphia, Cincinnati an
CHICAGO before he wrote. In addition
he stated that there seemed to be som
demand for the bonds as securities fo
postal accounts.
Financial Statement.
The financial statement which is II
sued with the prospectus shows tina
the total assessed value of real an
personal property, which in 1901 wa
$121, ,l72, ,92s, had grown in 1910 I
$15O,26s,4 ,467, and this year is $l55,OO9
43s.
These are splendid figures but Il
growth in imports and exports is likel
to command even more attention 1ro
the fnanciers. In 1901 the imports of u
Territory were valued at $2,s26,o5
They increased almost tenfold IN te
years, the figures for last year bein
$25 ,13s,247. The exports also have a
4 T..In Abn n
riod, the total for 1901 being $2S,O5S
s43 while for 1910 it was SAG, 6,4s6,4l2.
Customs receipts in 1901 were 81
2l9,61S.93; last year they were 81, ,575
3l9.l5. The port of Honolulu rankC
thirteenth among all ports of entry
the United States for the fiscal ye'
ended June 80, 1910, fact which shoul
impress the financiers of London, Par
and Berlin as well as those of Amerlc
Never Defaulted.
Figures regarding the total indebte'
ness of the Territory are given in Il
prospectus for the benefit of those wi
NAV wish to bid on the present issl
of ST. 100000 worth of bonds. This i
\ debtedness is $4,004 900, which is 2,'
per cent of the present assessed valu
tion of property for taxation. No cou
ty or municipal bonds have ever be-
issued.
European fnanciers who have b;
more or less sad experiences with bon
of Central and South American cou
tries will be particularly interested
the statement in the prospectus tn
neither the Territory nor its predeeesso
have ever defaulted in the payment
interest OF principal of the public del
AS a guide to local investors who mi
be desirous of bidding for bonds t
following form, received by the Go
ernor from Treasurer Conkling, win
of use:
Proposal for Bonds.
1911