Honolulu star-bulletin. [volume], May 10, 1913, 3:30 Edition, Page 18, Image 18

About Honolulu star-bulletin. [volume] (Honolulu [Oahu, Hawaii]) 1912-2010

Image provided by: University of Hawaii at Manoa; Honolulu, HI

                
18
HONOLULU STAR-BULLETIN, SATTUDAY, MAY 10, VMX
Administrators
Real Estate
Insurance
liil
TV
V
i
x' ' ; j I J 7.;. j
!,'.',' . . . - ..... '. 1 -;" ' - -- . -
are Deposit
Loans
on
Approved
Securities
Wills
TC m
r "
"Knowledge of local conditions and
personal interest in the work makes
every case a special case."
BUSKS BASIS
IS CONFIDENCE
(Continued from pace seventeen
group of individuals, can sain ia that
arising from the confidence reposed
in him orMhera by the community.
Every town, Urfie or small, seems to
choose a limited number of . men
imercbcntB, manufacturers, lawyers
and bankers) to represent it in the
iranagement of its chief, local indus
tries. These men are entrusted with
f
such heavy responsibilities, because
cf the confidence which their records
hrve established, and only o long as
: j their records . are unblemished do
j 1 1 ley retain such trusts. .
Confidence the Life of Banking.
Those are axioms which' it; seems
almost .idle to repeat. They apply to
all business, but more emphatically,
we believe, to ; banking than to any
other form of commerce. 'To bank
ing the confidence of the community
is the breath from which it draws. its
life. The past is full of examples
where the slightest suspicion as . to
the conservatism, or the methods' of
a bank's management, has destroyed
confidence and drawn away its de
lKJsits over night. Mucfo therefore,
may be left to the instinct and the
farce of public opinion; and finally.
in urging upon you once more the es
tablishment of a sound banking sys
tem, we venture to question the wis
dom of engrafting upon; such - new
system many special provisions, de
signed to guard against particular
evils, but ; which, being restrictive in
their nature, arc likely to to hedge
about the business of banking as to
curtail severely the ' country's devel
opment : We believe that, with a sci
entific banking system firmly estab
lished, many features in our '.' present
situation, perhaps deemed objection
able by you, will of themselves disap
pear; and that this country will en
joy the experience of other countries
which, with nothing like the same
sraount of banking statutes in force
as we. have, are yet immeasurably
freer than America from banking
.V.
....
'. i
is our watchword in the transacting of
our business. No matter how larse or
account or- transaction;
it will have the most careful and pains-
how small' your
taking consideration
Safe:-Deposit 'V
Real Estate Department
Insurance Department
Imwiiiak
! rust
Limited
Company
failures, and from those periodic fi
nancial disturbances which bring mis
icrtune to rich ami fir.or alike and,
except '.'for-which." these United -States
today undoubtedly would be iu enjoy
ment of a" political' and ...national pros
perity far surpassing any t hat has
been known in the world's history.
:' Hesiect fully submitted.
(Signed) J. P. MORGAN & ('O.
New, York City, February 23, 1013.
TRUST COMPANY
SVEP1D OF
(Gontm?ed -from page seventeen)
nectiou to note, that there lias never
Ix'cn a loss in the I'nited Ktatc of ji
i;ingle dollar, in trust funds, wheie
such funds have been entrusted to A
tiust company as executor, trustu? or
adiiiit)istr.itorv On the, contrary, they
frequently save estates from losses,
and increase their value becaus of
expert knowlndge'of conditions and in
vestments. The trust companies have
come to stay,' and they are distinctly
modern institutions which fill a most
important and useful. place in the life
of this community, and Honolulu is
indeed fortunate, in being so well
served in this capacity, ; - i
Many of the afternoon gowns appear
in crepon sole, crepe Uc chine and
cmpon gauffree. '
HENRY CLEWS LOCATES
. SIGNS'OF REACTION
': ...' ' -'.".-'-' ... " :: .it
. Henry Clewst in sizing up the uur
ket for the week -ending April 2K ha3
the following to say regarding the
general business conditions of tho
country. . .. r ' .' '.. ..; ..
'The. signs of , business ' reaction,
though not serious, . are' numerous,
and sire of" course much aggravated
by the pending chapgea in the tariff.
The number of liabilities of failures
are increasing; clearing house re
turns aro reporting smaller gains
than a year, ago; railroad earnings
are also making less satisfactory
comparisons, although this partly tho
effect of the, recent floods In the inter
rior. In ;ennany and England - there
T
are signs, of business rcaetiop, vr a
tonnwrrary felowln j Jaw a JaXter1.' recent
excessive activity. (Sermany is still
feeling b rffovta mt the H.ilkari war,
while England is beginning to realize.
th?t thefdejrekj)niut of her colonies,
partirnlarfy Ca had a, "lias been 'going
on at a rate that demands racution.
Nevrthelcjs, there ' 1st no reason for
any uneasiness, -regarding the -business
sittiatian. 'fin' all VrobaWllty wo
are simply in for a temporary period
cf .slowing down and pos3iblo read
justment to a lower price level gen
erally, especially for commodities."
Tho .Canadian house of commons
has passed the. Japanese, treaty bill
which provides fee Canadian partici
pation in the AnglonJapanesc commer
cial treaty. -
Jfdgir4 ithmcrease' during 1912
' U81,S79rV0r a gain of 21 per
thTs
was
cent
Thirty-five Billions
It will stagger the imagination to
i tate the fact, , ".that the trust com
panies of the United States have in
j their control, wealth to the value of
thirty-five biluoa dollars, which is
more than onaourth the total wealth
of the nation, and fourteen billions of
dollars more' tlian the comTjinedf bank
ing power of all' the national banks
and state banks . reporting to the
"comptroller" of the currency. .
Banking Laws.
The banking Jaws of most, states
have been iramed with the single
purpose in view of making the banks
and trust companies the safest depos
itaries of the fun'(ls and property of
tae people. .Jn. many states a .trust'
company ; may Ji'pld both, but the Idea
of separating , the busines of caring
for funds from that of property Is
growing. .': ..;
A Sacred Duty.
Many of the leading citizens recog
nize the importance of providing for
their familis or heirs when they pass
away. The divil, criminal and pro
bate records of Hawaii, before the es
tablishment of trust companies and
in some instances since, offer elo
quent testimony ; as to the careless
manner in which; wills are sometimes
drawn up, and the loss, waste or mis
use of trust funds, particularly where
the inanagemcnt has been, placed in
the hands of incompetent or careless
individuals.
Widows- and orphans are1 often
helpless in financial matters, and the
temptation is, therefore, great .where
an unscrupulous person is placed in
sole charge of an estate as trustee,
executor or administrator to misuse
funds or property in his care. In
' Philadelphia recently a . prominent
citizen committed suicide after an, ex
posure of property and money left in
his sole care. In fact, the court rec
ords on the mainland contain a great
ninny proofs to warrant the state
me ht that every-year there are milli
ons of dollars' worth of estate,: funds
and. property . wasted or diverted, (be
cause of the1 irresponsible steward
ship. The officials of our own courts
testify to the fact, that there is con
stant 'necessity of urging individual
trustees executors or administrators
to' make and file their accounts,
which does not exist to so great an
extent In the ca.se of trust companies.
Providing Safeguards
" It. .'is in avoiding, just such :1orsps
'?nd in providing greater safegunrds
tha n any one ind i v id ua'I est u give, t h ;i
the trust company fills its greater mis
sion. . Instead of an estate being in
tho hands cf only one person who may
jibscond, snwulate or even falsify the
'nrcoiinfSv Vhcn the property is on-cw-d
to a trust com p?: n y a s t r u s t c r ,
executor or administrator, there is a
v hole "staff of, experienced men taking,
part' and r:' checking- na h other; and a
1 oard of "eminent business liieu who
serve as d i reef ors ; besides m any ot It
er features of protection which are
j-rovided The trust compnny earner
commit . suicide, it lives from genera -
, tion to generation. When an indi-
j Vidual trustee dies, the court is apt to j
, appoint someone to manage the e.-.tar S
j tnd succectl him who was utterly un-j
I known to the tostator. The trust cni-t
pa ny c;u:i;ot . run a way
j its ; keeping. It eanre
; ticn, h?comc the victim of bad ha')ifs,
or he taken ill. It lii'.s both capiU t
I and v'snrpius-' which - is a 'proieeriou
j fund"' for men, wonieu and ciaMrcji
j wlioso property is lu-lii in trust. j
First Dollar Yet to be Lest V . '
?th -funds in ;
r;t c on a - v;?Ca-:
BI8I0P
'. - ft. . . : . I. . . , -
- 'I
1
Ox: srir sbt-v C"
i
r si
i C
- f
i-.t:
w
funds;
Collect
E MANAGE Estates,
Rents, etc., buy
invest
loans on real
s-ell
property
make
estate or stocks
Trustee
Guardian, Executor, etc., draw
wills
buy and sell
stocks and
Bonds
Safe Deposit B
oxes
924 Bethel Street
Honolulu
It
i most interesting ia this con- j