The Hawaiian gazette., 1914-11-20
Contention Made That Change In
Treasurership InyaIidated
Sale Of Bonds
NEW YORK LAW FIRM
F.. MAILING NEW OPINION
Governor Pinkham Says Placed
Whole Matter Before Same
i. 49,. Law Firm

b
Although plans have been made BY
Governor Pinkham anil Territorial
Treasurer Charles J. Mccarthy for the
sale locally Of large block Of bonds
Treasurer Charles J. MCCARTHY for the
legislature and approved by President
Wilson, there remains some doubt Ia
regard to the legality or the delivery
Of the bonds.
Bond Lawyers Render OPINION
When D, Lloyd Conkling returned
from Washington and New York hn
brought with him an opinion prepared
by Dillon, Thompson and Clay, tho
celebrated New York legal authorities
on bonds. According TO this opinion
the delivery Of the bonds might %
questioned unless carried out by C0nt.
ling himself, the cx,treasurer having
made all the arrangements for the
preparing of the bonds, signing them
rs treasurer Of the Territory and al;
tended to all other legal formai.ties IN
connection with the big issue
conkiing Gave oninion To Governor
This opinion Mr. conkling turned
over to his successor, after notifying
the Governor. Since then, the Cover
nor has ben publicly quoted to the
eject that he did not place much faith
or confidence In this opinion, an opin
ion prepared by the best known au-
thoritics on the subject Of bonds lt
has been said that no bond issue OF
any Importance Is placed in the market
l in the mainland before the firm Of Dill
Ion, Thomson and Clay has pass :.
finally on il.
| shortly after Mr.. Comkling's retnra
from the nhinland tho Governor asked
him for his resignation and Il was ton
dered and accepted only after Mr..
Conkling had apprised the Governor Of
tho situation in regard to the question
on the legality OF future delivery OF
those bonds. n question which mpy
arise at any time, according TO the
Iopinion now in posscssion Of the Gov
ernor. &-
Governor Refuses To Give opinion on;
Governor Piakham was as..ed yes
terday by The Advertiser for a copy
of the opinion for the purpose OF mais
ling II pnblie in order that ali concern
ed might be advised in tho premises.
This request the Governor refused p
aeeedc to-
~ won give the opinion out ror
Inublication, said the Governor, AMI
there was inality spelled in ms man
! ner,
Has written For New opinioh
81 have written the law firm OF Dii-
lon, Thomson and Clay and lgid the
whole situation, mp 70 the time Of
writing, before these lawyers. / re.
ceived cable today from the niyt
saying that written opinion was be-
ing mailed to me, win walt TO go
what the firIu thinks. nov that the
whole situation has been placed be
fore it.D
Bond IssGs Fell Flat
When bids for taking up tie bond
Issue were opeped simultaneously IN
lHplomlu and New York, local bidders
offered TO take np only $60,5O0 0t
bonds AT par. The bids in New York
were even for smaller amount and
not one of the bidders came near Of
fering par for the bonds.
Kauai people have recently signihe1
their intention Of subscribing for
50 400 worth of these bonds at
small advance above par, Chairman
Forbes aud the other members OF tho
harbor commission propose ,lnring their
coming tour of the Island Of Hawaii to
advocate the taking up of bonds by
the Big Island people, this being, 4p-
parently, the only way the harbor and
other improvements which are now be-
ing DELAYED because of failure 10 float
the bond issue can be attended to.
still, there is the legal Question
hanging over the whole propositions
nnd. until Il is settled, say those who
claim they know what they arc talk.
ing about. IL seems that future sales Of
bonds win hang fire.