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THE EVENING BULLETIN, HONOLULU, H. I., JANUARY 27, 1899.
AN EVERY-DAY SCENE ON MARKET STREET.
IT WAS A CLEVER DEAL.
While the multitude is flocking
into the Hawaiian Islands, with
capital in hand, ready to grasp an
opportunity by which to swell its
wealth, that great intermediate
world of brokers, commission men,
or by whatever other name you
might wish it designated, has been
busy framing plans and combina
tions to meet the requirements.
Honolulu and its surrounding is
lands arc a wealth in agriculture,
such as the new El Dorado of Cali
fornia was in minerals, hence the
influx of men and capital and their
natural forerunner, the middleman.
The latter have shown themselves
as indispensable in this case as the
grub stake prospectors of olden
times, and through their reports
can be traced the extraordinary
I rush to the newly annexed tcrri-
I Early among the pioneers who
pledged their faith in the future
grandeur of Hawaii were Edward
I Pollitz and his partner, Henry St
Goar, of San Francisco. Stock and
bond brokers for years in that city
of speculation, they were not slow
to understand the immense possi
bilities ahead of any progressive
man in Honolulu. They, and a few
choice spirits, men who had been
their clients, fot years, and who re
lied on their sound judgment, en
tered upon a deal which stands on
record as the greatest handled to
date in Hawaii and California. It
was the purchasing of a control of
the Hawaiian Commercial and
Sugar Company stock.
The company's stock had been
considered of the best. The plan
tation was in excellent order, the
crop promise was of the best, and
everything sccmct' to be moving
properly financially, when suddenly
the stock began to tumble. Large
blocks of it were offered in the San
Francisco market at less than the
market price. Rumors of an as
sessment were common on the
street. An increase in the capital
stock was indefinitely pop;scd.
Moderate investors began to be
Henry St. Goar remained in San
Francisco to watch and take ad
vantage of the situation while Ed
ward Pollitz, slipping out to Hono
lulu, investigated the company's af
fairs and found them in unimpeach
able condition. So good was the
company's credit in the Islands
that he had no difficulty in form
ing a syndicate to buy from him a
control of its stock at a good mar
ket price. He did not own or con-'
trol enough stock to do this, but he
was a broker, and this did not
worry him. He sold the control
just the same as if he did o.vn it,
contracting to deliver it in sixty
days. Then he returned to San
Francisco to make good his word.
He started in buying small lots,
but with such extreme reluctance
that the bears were deceived into
unloading on him all the stock they
had. ' So successful was he in his
ruse that the price of the stock ac
tually declined under his manipula
tions. A control once gained, he
asked for the management of the
company, which was perforce turn
ed over to him. He filled his con
tract with the Hawaiian planters,
pocketed the difference in the buy
ing and selling price, and both he
and those who stood with him in
the pool were not only saved from
loss, but came out with riches from
O. M. 08BORN
8. A. NEVILLE
E. T. B. MILLS
NEVILLE & CO.
Important nncl Mnnunictiirura of
Bags, Twines, Nets, Burlaps,
Hop Cloth, Tents, Duck,
Awnings, Flags, Covers, &c.
31-33 California St. San Francisco
LACHMAN Sc JACOBI
California Wines... ...Grape Brandies
111 iSfoVwl fMlJHf3?il2f-' Jv
80L AQINTS in Hawaiian Islands
m2ZSZ San Francisco
TOYO KISEN KAISHA
(ORIENTAL STEAMSHIP COMPANY.)
Imperial Japanese and U. S. Mail Line
from SAN FRANCISCO, via HONOLULU
CALLING' AT YOKOHAMA, KOBE, NAGASAKI (via INLAND SEA OF JAPAN), SHANGHAI AND HONGKONG.
A A A A.A.A.AAAAA4444AAAAA4444
Connecting at HONGKONG
with Steamers for...,
and all INDIA POUTS,
KOBE or NAGASAKI,
CHEMULPO and other
Coroan Ports, and
Operating the !N"ev, Fast, Palatial Twin-Screw 6000-Ton Steamers
"NIPPON MARU" "AMERICA MARU" "HONGKONG MARU"
FOR JAPAN: I V
from HONOLULU, 1899:
NIPPON MARU February let; April Oth
AMERICA MARU Feb'y 28th May I3th
HONGKONG MARU-Mar. 24th; June 8th
FOR SAN FRANOlSOOi
AMERICA MARU--Feby 4th? April 19th
HONGKONG MARU-Feby 28th; May 16th
NIPPON MARU-March 25thj June 10th
Passongors booked to all Principal Points and AltOUND THE WORLD. RETURN TICKETS to various points at Reduced Rates, good for four, six, nine and twelve
months. SPECIAL BATES (first-class only) granted to Missionaries, members of tho Naval, Military, Diplomatic and Civil Sorvicos.
Built specially for this service, fitted with all modern conveniences, cusino unexcelled. Beautifully Appointed Statorooms and Trained Servants. Tho Stoamors of
this lino will prove tho most attractive in which to make tho voyage across tho broad Pacific. No Cargo rocoived on board on day of sailing.
Fop Freight and Passage, apply at
W. B. CURTIS, General Agent.
COMPANY'S OFFIGB, 421 Market St.
SAN FRANOISOO, OAL.