Newspaper Page Text
TIIE GARDEN ISLAND, TUESDAY, JUNE 21, 1921
Thtr bas been bo much confusion
over tro exact moaning, extent, and
effect ; the reparations burden Im
posed i Germany, says the Literary
Digest rf June 4, that a New York
Stock Kxchnngre house undertakes to
tell Us customers In Its biweekly re
view el business exactly what and
how n-vmany must pay. We are
reminded that by the terms of the
final s.-tlement Germany Is to pay
m.nno. 100.000 (told marks, "and in
addltloi to this a special Indebted
ness d- i to Belgium under the terms
of the Treaty of Versailles, the pre
else nn.ount of which is not stated
but Is -vutmated at not far from 6,
000,000,("iu gold marks." Taking
the ma ki at their gold value in dol
lars. '1' total sum becomes about
$34,000. 10,000, although other calcfr
latlons, It is noted, place It at $32,076
000,000. The terms of payment are
stated - follows in the W. J. Wall
man L to. Review:
1. G many agrees to create $34,'
OOO-.OOO.i' 10 in bonds. These bonds
will be handed over to the Guaranties
Commit -ion, a subcommission of the
Repurat oris Commission.
2. T'2se $34,000,000,000 worth of
. bonds t re divided into three series
Serie; A. $3,000,000,000 to be issued
July 1 ' paying 5 per cent interest,
plus 1 t ,,r cent sinking-fund.
Serie;- 3. $9,500,000,000 to be issued
Noveml t 1, paying 5 per cent inter
est, pi 13 1 per cent sinking-fund
Serie.) .'. bonds have priority on in
terest cer Series B bondB.
Serlr C. $21,600,000,000 ranking
after fc ries B, to be handed over
now i 'tout coupon sheets, to be is
sued fri v time to time in such pro
portion is the Reparations Commis
sion n . v decide, according to the
ability . t Germany to pay. As soon
as any mrtion of the $21,500,600,000
Series f bonds has been issued, then
5 per 'nt interest, plus 1 per cent
stnklr ,nd, has to be paid thereon
Note: ")f the 6per cent Germany
is reqn rod to pay on the issued
bonds, ! per cent is for interest and
1 per i nt for a sinking-fund for re
demptici of bonds by annual draw
ings i.t. par.
3. Tt provide payment of interest
and a s'rkfng-fund for all bonds, Ger
many h' s to pay
(a) $F.OO,000,000 a year in gold, the
first i :f-yearly payment of $250,
000, OK: within twenty-five days from
May J 2, and tho other $250,000,000 at
the end of the year.
fb) T 'enty-six per cent of the val
ue of tl . total of German exports, of
which ? ' per cent Is to be used for
the payment of interest on bonds of
Beyond the direct sympathizers
with Germany, it is obvious that few
would be willing to pay real money
for German bonds without the in
dorsement of the English or French
Government. Perhaps a more de
sirable method would be for the
French to issue their own bonds
against the German reparation issues.
The suggestion that the Am-rlieE
Government would accept German
bonds in lieu of money owed to us
by the Allies is not taken seriously;
neither is it thought that any consider-
fttilt amount of new foreign bonds
could be absorbed here. Some of
our bankers were inclined to Bet
$200,000,000 as the limit, but this Is
doubtless underestimating our will
ingness and ability to cooperate. In
the event that such bonds' are taken
up hero? they would, of course, to
that extent, tend to rectify ths bal
ance of trade and help to correct the
exchanges, providing also goods for
further reconstruction work in
France and elsewhere. In so far as
the proceeds are employed in paying
Interest on debj already Incurred in
the United States, they would have
no effect upon the balance of trade,
but the assumption is that during the
first period of reparation payments,
the proceeds realized from any such
sales here would be used in defraying
tho expenses and meeting the press
Ing needs of reconstruction and other
Look Over Your Old
Tirfcs Before Discarding
; ' $1,400,000 POWER .
At a meeting of the board of dl
rectors of the Oahu Sugar Co. held
last Tuesday morning, it was de
elded, on account of the present low
price of sugar and the poor outlook
In general, that the erection of the
central power plant and the electrify'
Ing of the pumps be postponed for the
time being, Bays the Star-Bulletin of
At the last annual meeting of the
company the stockholders approved
of setting aside the sum of $1,400,000
as a special fund to cover the cost
of the installation of this plant, and
in view of the decision of the direct
ors to postpone action of the erection
of the plant, in the meantime a por
vested In securities, and the balance
tlon of this amount will now be in
held available for possible contingent
Aa the plantation at the present
time is not producing sugar at
profit, with raws selling at 4 cents
per pound, today's price, and as the
directors are doubtful whether any
Improvement in the market can be
looked for in the immediate future,
it was decided to reduce the monthly
dividend, beginning July 15, to 1Q
cents per share, or one-half of 1 per
cent, and to continue dividends at
this rate until further action by the
Series and B. One. per cent Is to
be set tt-ide for Series C exclusively.
In other words, the 1 per cent from
exports i3 to be used for the pu'tios
of providing interest on' Series B
bonds iione, so that in all events
Series '.J bonds will get something;
and t'n debt will be kept alive. Danlol Damlen Iopa, a Hawaiian,
4. Fo,1 the payment of interest and adopted son of Daniel Damlen of Kan-
sinKing-.v.na cnarges on bonds of
EODY OF DANIEL IOPA
t WHO DIED OVERSEAS
BROUGHT BACK ON LOGAN
Seriep'i and B which are to be is
sued du ing the present year. $750.
000,000 tor annum is needed. Of
this am. mt $500,000,000 is to be de
rived f om the fixed annual pay
ments aMve mentioned, and $250,000
000 is evpected to bo received from
the 25 per cent on the export-tax
5. fih uld the entire $34,000,000
000 of lends be issued, there would
be then required $1,700,000,000 in in
terest pir annum. This sum would
include vi provision for reduction of
6. In onnectlon with the above,
it shouh be stated that German pre
war e::p'-ts had an annual value
ranging 'rora $2,000,000,000 to $2,
7. It : '.so should be borne in mind
that Oe -run prewar Imports had an
annual v lue of between $2.125,000,.
000 and 2,725,000,000. It will thus
be seen ' at the imports have always
eohe, who died of wound1? received
in France while a corporal In the
47th regiment, U. S. army, came
home to Honolulu Thursday on the
army transport Logan, the body hav
ing been accorded honors at both
New York and In San Francisco, says
The American Legion will assume
charge of the body and accord It a
military funeral befitting the great
sacrifices which the young man made
Will 'am Miles, who was with the
Naiional Guard and also with the
national army duriu& the war, re
ceived information concerning the
young man's body from a French
priest, and through him made ar
rangements to have the body sent
back to Hawaii for burial.
Daniel Iopa enlisted in the army at
San Francisco. He had been living
at Oakland, working in a shipyard
en the war broke out and he im-
" Many' enr owners using tires
that have developed weak places
in the fabric have wondered
whether in the interests of econ
omy they should scrap the old
tire or spend good money in an
attempt to coux more miles from
it. Innumerable tires are con
stantly being . discarded before
their Usefulness is over.
"Before discarding an old
tire," says Cb as. Fern of Nawili
wili Garage, "it is well to show
it to a competent repairman, lie
will be able to determine whether
the expenditure involved will re
suit in the additional mileage
"Tire repairmen are not taking
the long chances thiy. once did.
The dependable vulcanizer today
recommends only sv.eh work as
he believes will effect a saving to
the motorist. If u repair is
inadvisable he will not reconi
mend it, for every job of that
kind means a dissatisfied cus
"There are a number of ways
in which tires apparently worn
out can be made to render much
greater mileage. If the tread
of a tire is worn down, but the
tire otherwise in fair condition
several thousand miles of service
may be secured by having it re
treaded. " Often a tire reliner
cemented on the inside of the
casing will restore or partially
restore its original strength.
"We have for some time spec
ialized in the production of a
tire reliner of this kind. fr. con
tains four plies of high grade fab
ric, lapered down to a thin .Ige
precluding all dan,er of tube
pinching in the easing.
"Applied properly, it becomes
a part of the tire and gives it
extra life and durability. When
the tire is finally worn out the
reliner may be removed and ap
plied in another tire.
"I know f a Goodyear user
who cemented a reliner in a bad
ly worn 32 x 4 fabric casing and
ran it 4,122 miles at a cost of,
eight miles for a cent. At this,
rate of mileage a new tire cost !
ing $35 would have to deliver
28,000 miles of service to show
equally economical operation.
"Before relegating your "tires
to the scrap pile be sure to look 1
them over carefully. A simple'
repair or a Goodyear - accessory
may add a few more thousands 1
to their mileage."
LAW TO GOVERN TATTOOING
IS BEING FRAMED,,
An ordinance, prohibiting tattooing
In the city and county of Honolulu, Is
being prepared by the city and conn I y
attorney's office. , The ordinance, it
la understood, comes as the result of
vigorous campaign by the local
army and navy authorities flgaiuni
professional t3ttooers because, of tho
widespread infection Baid to have
resulted among soldiers' and sailors
stationed here, says tho Nippu-Jiji.
"It has been reported to the com
mandant that tattooing is being car
ried on by various men In the city
of Honolulu", writes Commander 11.
P. Emrich to S. C. Huber, United
States district attorney, "and that
this work is. a menace to the health
of those who are tattooed."
"Information is requested as to
what step can be taken by the com
mandant In order to have this matter
looked Into by the proper officials
and proper action taken."
The letter was turned over to
Judge W. H. Heen, city and coun'y
K. C. Hopper News Agency
Subscription received for
Magazines, Newspapers and Periodicals
from all parts of the world.
Foreign and Domestic .
Patronize, Home Industry and Save Money
READ THE GARDEN.
FARM BULLETINS FOR
THOSE WHO VANT THEM
kn..H t- 1 iL. J.
uu e.r :r luau lu Prl. ne mediately donned a uniform and was
ta?BrBe 'alance was rael y 1- sent overseas.
terns or invisible" income consisting'
of retrri from the merchant fleet,'
foreign r ets, and the colonies. i
The a! ve summary sets forth the'
amount 'l'ch Germany Is obligated
to pay a 1 the manner In which pay
ments i - to be made. Obviously
the pla-i involves a huge undertaking
. to m'ar'nf t bonds Issued by Germany,
and whit' probably will be Indorsed
either h the particular nation to
which tl y are Issued, or perhaps
a Joint 'lnrsement by the group of
nations vhich constitute the bene
ficiaries m the reparations plan. It of territorial game and fish warden
is assuavd' that for the purpose of by the fish-nnd game commission, ac
obtaining early or Immediate reim-1 cording to announcement made
bursemem, an attempt will be made Thursday by Lillis.
At San FrancUCo exceptional hon
ors were paid the body on Memorial
Day of Iopa and others who died
The young man was about 23 years
LILLIS ACCEPTS POST
AS TERRITORIAL FISH
AND GAME SUPERVISOR
W. .1. (Hob) Lillis, examiner of
chajiffours, has accepted the position
.to dlstril J lo these securities In the
United 3 ; tes.
This t'l'.arclol involvement of Am-'
erica Ir. Germany's debt Is comment
ed on by The American Baur as
The Auto Club and other organi
zations were loath to have Llllls
accept the appointment on account
of his efficiency as examiner tif auto
drivers. He will take on his new
duties July 1. Advertiser.
The Board of Agriculture and For
estry, P. O. Box 207, Honolulu, has
received from Hon. J. K. Kalanian
aole, our Delegate to Congress, a sup
ply of Farmers' Bulletins, as shown
on the list below. Any of "these
bulletins will bo mailed, without cost,
to those who r.ppl;- for them to the
411 Feeding Hogs in the South.
533 Good Seed Potatoes and How to
602 Production of Clean Milk.
612 Breeds of Beef Cattle.
6G0 Weeds: Haw to Control Them.
743 The Feeding of Dairy Cows.
745 Waste Land and Wasted Land
7C5 Breeds of Swine.
624 Home Gardening in the South.
8S3 Home Canning Fruits and Vege
874 Swine Management
884 Saving Vegetable fcaeds for the
Home and Market Garden.
893 Breeds of Dairy Cattle.
920 Milk Goats.
934 Home Gardening in the South.
973 The Soy Bean: "its Culture and
984 Farm and Home Drying of
Fruits and Vegetables.
1001 Growing Fruit for Home Use.
10C8 Judging Beef Cattle.
1073 Growing Beef on the Farm.
1117 Forestry and Frrm Income.
1126 Sudan Grass.
1147 Milo: A Valuable Grain Crop,
1148 Cowpeas: Culture and Varie
ties. 1175 Better Seod Corn.
Back of the 2erolene you buy for your
engine are the combined resources, expe
rience, knowledge and equipment of the
Standard Oil Company. They create an
efficiency in the manufacture of fine lubri-
cants hard to duplicate elsewhere in the
" You gain this advantage in the use of
Oar. Board of Lubrication Engineers
recommends the grade of Zerolene to'meet
the requirement of your type of engine.
Follow their recommendations as embod
ied in the Zerolene Correct Lubrication
Ask for a Chart for your car.
STANDARD OIL COMPANY
OA grade fir each type of engine
A mmelhd'kid Tread
Sharp Edges of
Michel in Universale
Examine th faa3a bn ffi fires you are now ufihg. TJo tliey
give you the all-around protection you get from Michelin
Universal ? If not, is ' unreasonable to ask. ypu to try Michelins j