Honolulu star-bulletin. [volume] (Honolulu [Oahu, Hawaii]) 1912-2010, 1916-02-03
DOLLAR IS BUSY
ONQUEsTIONOF
PACIFIC TRADE
CONTINUED from page one)


We NAV 20 into the transpac ifiC trade.
Thai prCpCsition is now being ana
lived b, Capt. Robert Dollar OF San
Francisco. who is one OF our direct
CTS and knows the shipping business
On the Pacific as we'll as anybody.
Continuing, in the first formal in
teryiew since his connection with the
COMPANY. Mr. Stone said that while
the plans of the company were natu-
rally not in definite form, II would at
any rate follow the general principles
which led TO the expansion OF the en-
eineering construction and financing
Of public utility corporations by Stone
a. Webs ter and their associated com
panies.
Wide World is its Field.
AS men sent out by that firm
were located in various cities until
they knew their cities and the cities
knew them" he added, so thousands
of men will be sent into foreign fields
by the. new company, will get ac-
quainted with the people, will. study
their needs and desires, and will show
them that American producers and
manufacturers can satisfy them at
the lowest cost.
I'VE are far, behind the English in
building up foreign trade through as
ISOLATION with foreign people and
study OF their ways. The English
have their young men scattered the
world over. Ours have stayed at home
or, when they have 'Ventured forth,
have not had the time or the dispo-
sition for intensive study of the GUS
toms, manners and business OF for
eign people.
The field is the whole wide world.
We have hardly begun to do business
and our office staff is not even organ
lied, yet we have proposals before us
for investment in Central America,
South America, China and South Afri-
ca. Every one of these propositions
implies the employment of Americans
and the purchase of American goods.
For example, We have applications
for loans from a score of munieipali-
ties in South America. One wants
money for sewers, another for electric
lights, another for power, another for
street railways In no case is large
amount of money involved. Most Of
the applications range between $780,
900 and $1,000,000. ~.
Municipal Loans.
No such application would now be
entertained by an American bank or
banking house. 1t would be neces-
sary TO send down men to investigate
the merits of every proposal, and
after that to have men watching the
workings OF the system put in by
American capital. The expense would
be prohibitiye.
I'VE propose to have men on the
lockout for these municipal loans.
We can take a number of them and
finance them by the issuance of our
debentures with the municipal bonds
as security. We can have the Dor.
rowing municipalities widely separat
ed, SO that a period Of depression in
Gne country would not seriously af,
feet the solidity of the financial struc'
ture."
Concerning the plan to have the
government own merchant vessels,
Mr.. Stone said . .. -. r. Il
Government Ownership. ...4
Personally ! do not favor Govern,
ment ownership of merchant vessels
Put, speaking for the company, do
not care to comment on the admins
tration's plan further than to say that
We stand ready to cooperate in any
plan for development Of the country's
merchant marine that seems to us
feasible" 49,
Mr.. Stone was asked If a keen for
eign demand for American products
would not result IN higher prices al
home. He replied that the reverse
should be the case, for If manufac
turers were stimulated to increase
their output the goods should be pro
dueed at lower cost.
Mr.. Stone also said that it was moi
the purpose of the company to &C
quire any foreign field for itself a.
against other American concerns en-
gagged in foreign trade or enterprise
but rather to cooperate with American
firms inyading foreign fields.