Evening bulletin. [volume] (Honolulu [Oahu, Hawaii]) 1895-1912, 1912-06-29
Prices Are Sagging So As To
Discount Future Sales
Few
GENERAL BUSINESS GOOD
DIVIDENDS CONTINUING
Army Forces Have Pay Held Up
but Business Is Going on
and Money wm PrObayy
Be Available Soon

The rcadjustment predicted early
this week in this department has been
going on with moro or less of Il VEN
gcance.
With Mondays session of the Stock
Exchange there began general seal
ing down OF prices all along the line
and the tendency seems still down
ward though the number of sales is
not large. The slump is not confined
to any particular security: II is the
lcveling of all to suit the future posi-
bilities.
The reason for this state of affairs
IL the same as stated in previous is
sues. II is a combination of politics,
worlds prices. Cuban crop. and the
dry weather throughout the islands.
Dividends have not been reduced in
single instance, though there is some
talk of McBrydes dividend not mate
rialixing; future conditions are being
discounted on basis of worst COM
ing to worst. That is the way the
Honolulu market usually operates and
thus far the town has had the good
fortune to always be in good condition
TO meet a period of hard times.
The Bulletin does not see any
occasion to anticipate such period
of hard times as some people talk, or
even repetition of 1900.
Any tampering with the tariff will
Of course be serious to our enterpris-
cs. On the other hand, our financial
condition and the labor situation are
better prepared than ever before to
stand stress of weather." Hawaii
has surplus funds, whereas in 1900 II
was owing money to San Francisco
and Boston. The labor conditions are
easy and certain ~ carry through to
fifteen months hence when the Pana-
ma Canal will be open and the direct
steamship lines running to Honolulu
with a good supply of European inn
migrants.
This has to do with sugar Given
surplus of funds and an open labor
market, Hawaii has a good fighting
chance against any odds that may Of
fer.
Hawaii now has other assets to de-
pend upon so far as the merchant is
concerned. The tourist is very i'm
portant factor for the merchant, and
the tourist Is coming in increasing
numbers. The United States Govern
ment Is also adding to the population
OF this island both Through the troops
stationed here and the civil employees.
This population will be permanent
and sufficient of itself to support
good-sized town. So the future has
nothing dark or dismal for the Terri,
tory of Hawaii. though we have to
admit that If the National legislators
go on tariff tear they can do us
harm.
Congress is waiting on the action of
the National nominating conventions.
The Republicans have acted and are
sound on the tariff, as was to be ex-
pected. This places Hawaii as a nat
ural supporter Of Republican doc
trines. The Democrats are now striv-
ing to secure a nominee. The nomi-
nation of Clark or Underwood may
be accepted as unfavorable to Ha-
wall. Wilson or Bryan would be more
favorable. A dark horse may be Sc
lccted. In any event the declarations
OF the platform will have good deal
to do with whether this Territory has
cause to worry. II the platform makes
an out-and-out demand for free sugar,
then nothing Democratic can have
much of q place in Hawaii. II on the
other hand the tariff plank on sugar
II straddle. II will show that the
Democrats have some regard for tho
industries of the country and will not
start In Immediately on campaign of
destruction. As for the Roosevelt
Progressive party, it will probably be
a low-tariff party but not so radical as
the Democrats.
Conditions on the plantations are
fnT h.
drouth. to which previous mention has
been made in this department.
What will be done in connection
with the McBryde dividend will be
made. known after the return of Mr..
j p. Cooke from a visit to the prop.
erty. There has been report about
town that the dividend will not be
paid and on the strength of this the
stock has dropped two and three dol
lars a share, Mr.. Cooke will settle
the question when he makes his re-
port TO the directors of the corpora
ton.
Waislua water controversies seem
difficult to end. The first Of the week
the report came that the House had
killed the McCrossen bill, and that
source of friction was supposed to be
came the news that the bill had been
taken up In the Senate. Consequently
the fiat is in the fire" again. Waialua
II in splendid physical condition,
though the dry weather may prevent
planting as large an area as was ex-
pected for the 1914 crop
The record of the Stock Exchange
sales for the week follows.
Monday, June "a.
Sales-Between Boards: 200 Olaa,
$3.50; so Oahu, $3.50; 80 Oahu,
S2750 Session Sales-l0 Olaa, $3.50;
10 Olaa, $3.50; 40 Olaa, S737h; 80
Oahu. S2725; 10 Eva, S3l.7j; Eva,
$31.75; 10 Oahu, S2725; II Pineapple,
$40; . Onomea, s52.5O; so Olaa, 1925;
so Olaa, 1925; 20 Oahu, S2725.
TUESDAY, ,lune %.
Sales--Between Boards l05 Ono.
met, $3.50; so Onomea, $3.50; 80
Oahu, $27; 80 Pineapple, $40; 50 Pine,