The Maui news. [volume] (Wailuku, Maui, H.I.) 1900-current, 1921-11-22
Bank of Maui
ToCelebrate Its
Twentieth Year
Main Establishment and Its
Branches Will Hold Open
House Saturday; Souvenirs
for Adults and Children.

1t is twenty years since the first
financial institution to be established
on Maui opened its doors for busi-
ness and the Bank of Maui will eel
ebrate its anniversarv in it's main es-
tablishment and two branches, at
Paia and Lahaina, next Saturday, 1t
issues an invitation to all of it's
friends and patrons to Join in the
celebration and there will be gifts
and souvenirs for all visitors, for the
children there are to be large blimp
balloons and for the adults something
useful and substantial The bank and
it's branches will be open to visitors
as well as for the usual business from
8 o'clock in the morning, throughout
the day and into the evening. There
are also to be released six large bal
looms from the main bank during the
day and there will be a cash reward
paid to the finder or finders for the
re turn of each one of them.
Story of Opening
Readers of "2O Years Ago. in Maui
News have seen how the project
started several months before the
opening of the bank. The need of a
bank on Maui was mentioned editori-
ally and soon afterward c. D. Lufkin
took the matter up. In the face of
difficulties, for there was a financial
depression and the bottom had fall
en- out of sugar" at that time Mr..
Lufkin interested others in the pro-
ject. There was one postponement
in the start but the opening came on
November 81, 1901, that date falling
on Sunday this year, so the anniver-
sary is observed the day previous.
With a capital of $4,000 the bank
opened for business and has grown
and expanded until now it's capital,
surplus and undivided profits are
100000. 1t is has moved twice into
others quarters in the course of it's
expansion and has opened two branch
es, one at Lahaina and one at Paia.
The first officers and directors were
w. j. Lowrie, president w. T. Rob-
inson, vice-president; G.. D. Lufkin,
cashier and R. A. Wadsworth and F.
j.. Wheeler.
Of the opening of the bank the
succeeding issue of Maui News had
the following to say:
when the News ran an editorial
last year, headed, 'Wanted-a bank
many of the citizens of Wailuku smil-
ed an incredulous smile, and some of
the Honolulu papers echoed the
dubious mirth But the editorial was
based on a careful study of the condi-
tions that exist on Maui. which rend-
er a bank at Wailuku almost an i'm
perative necessity"
During this week, careful OBJ
server may have noticed that the
average height of citizens of Wailuku
has increased about half an inch and
that they walk along Main Street
with an erect carriage, their chests
well thrown out, and a self satisfied
and confident-a financial, so to
speak-expression on their faces"
1.-THE reason for this is that on
Wednesday morning the First Ma
tional Bank of Wailuku threw open
it's doors for the transaction of busi-
ness. Will it succeed? There can
bo no doubt of it's certain success for
several reasons. In the first place,
it is the only bank on Maui, and it
will handle the cream of large ex-
change, not only between Wailuku
and Honolulu, but also between Wal
luku, the United States, Europe,
China and Japan"
"In the second place, the right man
is at the head of the concern. Chas.
d. Lufkin, than whom there is no
more popular and genial man on the
Islands is at the same time a thor
oughly up-to-date man of the new
American type, and is thoroughly con-
Versant with the details of the bank
ing business. One of the important
elements of the success of the bank
may justly be credited to his indomit-
able energy and rustic"
"Then the president and the major
ity of the director of the bank are
good, solid Maui men who will go
far to add to it's success. Also some
of its financial hackers are leading
bankers of Honolulu, which renders
it as solid a concern as the Bank of
England"
"The volume of business transacted
on the opening day Is f1attering
testimonial as to the future success
of the bank Already there is in
quiry among the wage earners of the
Island as to the amount of interest
which will be allowed on deposits"
"This of course has not yet been
determined, but the News especially
urges its readers and the public gen
orally, especially wage earners who
have a small surplus every month, to
deposit their savings in the bank for
the proverbial "rainy day." even
though the bank may not at once be
ready to allow interest ON such de-
posits."
"That will of course come in time,
Dbut the interest on such deposits is
not of so much importance as the
fact that fund for the future is be-
ing accumulated for those who have
only their hands to depend upon for
a livelihood"