The Hawaiian gazette. [volume] (Honolulu [Oahu, Hawaii]) 1865-1918, 1916-02-18
HAWAHPROSPERS y.
BECAUSE Of SUGAR
NeaE lssnF hs sttAaff
Trent Trust Company Publishes
interesting Compilation and
I Investors Guide

TrenTrusTHcS has issued special
bank, trust company and plantation
number, dated February II, in which
present condition and future outlook Of
some Of the plantations is stated in de-,
tail. A double pag" insert gikes the
condition of Honolulu y banks aud
trust companies at the close Of 1915.
Olaa, McBryde, Oahu, Pioneer, Eva,
Wnialua and- OnOmea stocks are ana
Used aud an estimate is made of The
Performance which may rcasonably be
expected Of each, If sugar nets $40 per
ton during 1916. Ia
A table of general statistics gives
postoftice receipts building permits,
custom house collections, net property
valuations and bank deposits from 1911
to 1915. The assessment value of prop
erty has risen 7,o0o.o0O in the FIVE.
year period, and bank deposits have ~
creased six millions during 1918. :.
Financial Condition Is Sound
As stated editorially by the house
organ of Trent Trust Company.
1.-THE progress of community is
probably better reflected in the period
teal statements Of the financial institu-
tons located therein than in any, other
manner generally available TO the pub-
lie. In fact, the condition of these
quasi-publie organizations often acts rs
barometer, indicating in advance the
tendency of business activity.
lowing to the absence of bank
clearing House in Honolulu it is impos.
sible to secure statistics of the actual
volume of business transacted by the
local banks. The next best source of
information, the semi annual state
D.! ,ments of these, institutions, neverthp
i less gives some valuable and timely
data on our current financial problems.
War Prices For Sugar
81 1t is clearly indicated, even to the
casual observersthat the past year ras
registered a substantial growth in all
banking and financial activities. De
posits have INCREASED over thirty FIVE
per cent durirgjt the year, brushing
aside all previous records. 1t is not
difficult to locate the controlling factor
war Prices for Sugar.
F''One noticeable. feature is the
marked increase in, investments
| ($ ,565, l27.S0)., This has a decidedly
favorable side in that it demonstrates
that the local public has NOT been ear.
! ried away with PROSPERITY enthusiasm
and sueeumbod to its usual temptations
-heavy borrowings and resultant over,
extension of credit.
No Local Bond Issues
The banks have been forced to pur.
chase large amounts of mainland com
mercial paper and bonds, perhaps cN en-
to a greater extent than noted above,
as o number of local bonds have heen
called for redcmption, and no new is.
sues have been offered.
with another few years of high
sugar prices the few remaining issues
of local bonds now outstanding will be
called for redemption, and unless new
capital expenditures are incurred by
our large corporations other than those
which can be cared for out of earnings
the local bond market win be depleted
and purchases of mainland obligations
given added impetus.
Future Seems Secure
with all Indications strongly sug
costing a continuation of the prevail NC
high sugar prices throughout the year
current interest rates are likely to ht
lowered lnitiotive in all lines of bust
t ness endeavOr will thus be encouraged
"A while building activity should show {
\ marked increase. In fact. from a Il
Maneial standpoint everything is rip,
| for business and speculative boom es
| pecially If within the next few week,
the one remaining obstacle, viz: uncer
tpinty over the attitude of Congress OF
the sugar tarif, is removed through
favorable action
4" In discussing Hawaiian financial af
I fairs the sugar tariff issue is neressar
g, lily engendeEed; it is germane to ouI
y every Interest, and no prediction OF tn,
=. future trend of business activity i
4 worth while unless qualified by state
ment on this vital question