The Hawaiian gazette., 1917-05-08
WORRIED
/ BY WEAK SDPPQRE
Of LIBER1Y[0AN
/, i4'Ht .77 a@,ii
Anxious To Have People Get Be-
hind Movement and Subscribe
To Beat Teutons
UNABLE TO ACCOUNT FOR
HoNoLULu,S INDIFFERENCE
Financial institutions Here VIII
lainbiTo Aid Small slmesiorglt.
ap FIn Every Way asioF

Deprecating the unprecedented lack
Of interest which has been displayed
BY local people in the Liberty Loan,
for which subscriptions are now being
taken, bank o6icials 81 H6Rolulu yes
terday united u urging Honolnlnhs to
announce their subscriptions al once IN
order that the banks may cable the re-
suits to Washington a. early a. pos.
sible. gf S'.l'ss We va
Officers Of local banks are unable 70
account for the failure so far Of locaf
people to put their money d6wh for
blocks Of the Liberty bonds and point
out that Honolulu has never been 10
backward before The corporations,
they believe are waiting for their
boards Of directors ID meet, buf the
small investor has no reason for delay.
The banks have offered their re-
sources 70 the small investor, in state
mehts made yesterday, on the most gen
efous terms with q patriotic instead Of
business basis and not with the inten-
ton Of making money themselyessa 81.
~ g pointed out that a half million
q minute Is being subscribed m the
states, although they know nor more
about the loan there than here. The
Federal Reserve Bank at San Francis
60 has eabled the First National Bank
Of Honolulu TO the effect that Il will
wire the particulars Of the bonds "a
soon as they are issued. y is n NIl!
81 am dfsappointed that residen4, 80
Hawaii have not come forward more
promptly, said Mr.. Buehly lvester!
day. They have always subscribed
literally to everything in the PAS. and
1 had thought there would have been
. big rush from local Investors 10 the
Liberty Loan. itetr Nplsl 81 hel 81
cit lisa gilt.edged proposition back
ed by the United States government \,
he added, ttand We are in hopes Of n
good response being made tomorrow.
There is no need for delay. Daily re-
ports from the mainland show that sub
seriptions are pouring in at the rate Of
| $500, 900 a minute in practicaI nv : evarv,
State in the Union, and they are inst
as ignorant Of the details there as we
are here.n iFs VI la'E n
Mr.. Buehly said that as far ms he
could tell the bonds would be issued IN
determinations Of 500, $500 and $1,000.
dated July j, 1917, and bearing Ter,
est at the rate Of three and half per
cent payable semi-annualIy; the bonds
being registerable as regards principle.
For thes benefit of the small in.
weston" continued Mr.. Buchly. sit
will probably be the policy of the First
National Bank of Hawaii to loan citi.
zens seventy-five per cent of the par
value Of the bonds at four per cent in
terest, the amount to be repaid by in.
stalments convenient to the investor s
purse. +"
| This would mean that a person who
can only afford $25 could borrow from
the First National Bank of Hawaii SIS
AZ four per cent, in order TO purchase
500 bond, and while he has to pay
the bank $3sa year interest be win re-
ceiye $3.50 from the government loan
fund - s,,sr.a Z, - M
| We are not out to make any profit
on the transaction - declared Mr..
Bnchly but are merely anxious TO co.
operate with the government in every
way to make the loan as popular as
possible. , j.. X
- 1t is a matter of no Importance to
us, Z he added, whether they sub
scribe to the bonds through our bank
or any other, but hope that investors
will make n decided move tomorrow.
Secretary of the Treasury McAdoo
has asked for the approximate amount
that will be subscribed locally TO be
Photographed him at the earliest posi-
bic moment, and we would not like to
reply that residents of Hawaii are
holding back for particulars, especially
when every other State is making such
fine response.
~ know we are as patriotic here as
anywhere else, concluded Mr., Buchly,
''but let us show it.,s
When seen yesterday, Abe Lewis IT.,
president of the Bank of Hawaii, said
that although his bank has received
q few subscriptions of substantial
amounts and a few of smaller sums, the
response has not been up to antieipa-
/ lions.
1.-THE slowness with which corpora.
tion subscriptions are coming in, he
said, "may be due to the calling OF
boards of directors meetings to consid.
er the subject. / think that many big
amounts will be handed in either Mon.
day or Tuesday.
- pronounced feature of the sub.
seriptions thus farp added Mr.. Lewis
sis the lack of moderate sums, but
ii is hoped that the small investor will
Also contribute more rapidly. This
opportunity Of investing in such a sound
proposition should not be missed; and
more especially when its purpose il
taken into confederation ln