Honolulu star-bulletin. [volume] (Honolulu [Oahu, Hawaii]) 1912-2010, 1912-09-12

nOmSSteduers ana corporations, the
Secretary asked IL he thought there
should be a limit to the amount d
land corporation might hold. Tc
this Mr.. Bishop replied that he would
rather not express an opinion at this
time. .@..
The hearing then adjourned to 9:3(
o'clock tomorrow morning.
Mr.. K. Faxon Bishop was called
upon by Secretary Fisher. and the
hearing was as follows:
Fisher: Mr.. Bishop, would you
mind making few statements?
You are connected with the house
Of Bishop & Co.?
Bishop: No, / am connected with
the house OF c. Brewer & Co.
Fisher: How long have you been
a resident OF these islands,?
Bishop: Since February, 1883.
Fisher: How did your connection
begin here? .-.
Bishop: My connection began here
as Office boy for c. Brewer & Co.
Did you come here in that capacity
or were you connected with that firm
on the mainland?
| came here as protege of a rela
tive and began working for that com
pany only after coming here.
And that concern Is largely interest
ed In sugar plantations?
Yes sir. " a
How extensively?
Last year think we acted as rep
resentatixes and agents for about
10000 tons of sugar.
Fisher: You have heard the DIE
cussion here with Mr.. Goodale. VIVA
would you say the interest chargs
would have to be on money borrow
ed2
Bishop: Well, assuming that ey
erything was going along fayorably
there would be no difficulty in raisfn;
so per cent OF the bond issue on SOM
OF these plantations. or course ii :
great many plantations desired e.
raise money, there might not b.
enough money In the Territory to
around. But II the Waiaiua Agricu
tural Company wanted money ! don
think there would be any difficulty /
raising bond issue Of per cent
so per cent of the value OF the capits
stock
Fisher: But If you wanted to rails.
so per cent you might have to pa.
as high as per cent.
Bishop: / think So
Fisher: Current rates Of interes;'
here. we were told the other day, are
higher than that for good commercial
paper.
bishop. think good commercial
paper can be generally. discounted
at the bank for 8 per Nent.
Have you given confederation to
the question Of the general policy OF
homesteading heref
I hayef
What do you think about Ii?
The more ! think about It. Mr.. Sec
Rotary, the worse get fuddied on
this proposition.
Fisher: what seems to be the,
natter
Politics Play Part.
Bishop: ! think that what is the
matter with the situation is largely
due to the consequence Of misrepre-
sentation. After annexation here,
campaign orators started the ball
rolling by inDuing into the people
here the idea that 1t was the Ameri-
can policy to divide up the public
lands among the people putting them
on 1t. And as Is frequently the case
when people are conducting q CAM
paign. they tell people what they like
to hear, regardless Of whether the
policy they outline can be carried out
satisfactorily And people started IL
on the homestead idea under those
conditions. Then the law was enact-.
ed; but that law was not 9 good one
in many respects, to my mind; the
law on that question Is topheavy II
you are going 70 have q homestead
ing policy. think II has to be fairly
alike. People do not like the idea of
waiting ten years for q title to their
lands. and don't blame them; and
then under some Of our forms OF land
division here they still have string