The Hawaiian gazette. [volume] (Honolulu [Oahu, Hawaii]) 1865-1918, 1913-03-07
ARE OPPOSED To
ANY CHANGE
IN Law
lFrom rhnr.day AdverlLseTl

Bankers, heads OF trust companies
and others, representing many millions
of dollars in. capital in which they are
directly interested and additional mil.
lions placed in the care by patrons oil
banks and trust companies in the Ter.
ritory, were present mt meeting OF
the senate committee on ways anu
means Yesterday afternoon TO protest
against the passage of senate bills NOS
1s. 10. 30 and 2l, which have been in
troduced by Senator Brown, who Is a
banker.
Bill is provides for the appointment
of n bank examiner. The other three
propose what many claim are radical,
If not revolutionary and dangerous
amendments to the banking and trust
company laws of Hawaii.
AT the meeting yesterday the oppon'
ents of the bills did not make any et'
fort TO mnce words. A. Lewis, Jr, one
of n committee of three selected by the
bankers and trust companies, strongly
intimated that Senator Brown had
more than public interest in the pro
posed legislation and called upon the
senator 10 show where demand Tor 0
change in the present laws had come
from the people.
MIR. Lewis showed that under the
present laws, which have been in effect
since 1894 and 1905, there has not beer
single bank failure in the Territory
He added that the proposed changes 10y
Senator Brown are opposed by every
bank and trust company in Honolulu
with the exception of the First Ma
tional Bank and the First American
&c oh sol
speaker, Senator Brown is the head.
Ignored Invitation.
II was shown further that Senate
Brown had been invited to attend
meeting of those who would be affected
bv the so.called radical legislation
Senator Brown, said the speaker, di,
not deem it necessary to accept the in
vitation and aid in the discussion o
the measures.
"lf it can be pointed out, sai'
Lewis, 'where our present laws nee'
changing the legislature can easily ar
range for the appointment of com
mission to see that the needed legis
lation is enacted.
Lewis was followed by W. O. Smith
He also pointed out the danger of al
lowing banks and trust companies t.
NIX tntlT luHuS, dS Nbulu bt ptlilis
sable under the Brown bills,
T.. |. Spalding intimated that Senate
Brown was fathering the bills with
view of receiving benefits Tor his ow1
bank. Spalding stated that the sam
purpose could be accomplished by Sen
ator Brown securing a trust compan
license.
'sThis would enable him to do tn
bn IN
breaking down our banking laws,
said the speaker.
Orchard Trent was equally empha
ic in his opposition to the measures.
"These bills might become a serior
menace to the welfare of the people {
the Territory of Hawaii he conclu'
ed after pointing out the dangers {
meddling with the present eXcelleI
banking and trust company laws of Il
Territory.
Opposition General.
Herbert Walker, William w. Char
berlain, John r. Gait and dozen OF
ers equally prominent in banking ci
cles, were present, ready to voice the
opposition.
Lewis stated that the committee WI
not prepared at that time to present
ueIhlleu aTBuHlNHl uBdlnst htndte "
IS, which provides for the appointing
of bank examiner. He asked that
future date be set for this. Senat
Rice of the ways and means commit
fixed Thursday. March l3, at thr
O'Clock, as the time. In the meantir
action on the four bills fathered
Senator Brown will be deferred
Senator Brown, who is member
the ways and means committee, W
present at the meeting yesterday.
attempted no defense of his measm
beyond stating that they are necessal
The action yesterday means reopeni
a fight which was one of the featui
of the senate session two years al
AT that time similar legislation was
p tempted and after several spirited S
sions of the ways and means commit
two of the bills were tabled and
third, providing for the appointment
bank examiner, was defeated by
close vote
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