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Image provided by: University of Hawaii at Manoa; Honolulu, HI
Newspaper Page Text
PW W j . m K fer .. & & Ik 12 BtK , UEHBIHiH THE EVENING BULLETIN, HONOLULU, H. I., JANUARY 27, 1899. Fjmi wwrtm rtHJ LJK LriTi LmM fc'WIM ifln 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 tory- 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 frightened. 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 the deal. O. M. 08BORN PM8I0INT 8. A. NEVILLE vioi-pnieiDiNT E. T. B. MILLS 8ICR1TARV NEVILLE & CO. (INCORPORATED) 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 ll.IIACKFELD&CO., L'td, 80L AQINTS in Hawaiian Islands m2ZSZ San Francisco $fl?;vflg)g ii 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..., PHILIPPINE ISLANDS SIAM, BURMVN, JAVA, CEYLON and all INDIA POUTS, ET. ETC. TTTTTfTTTTTTTTTTTTTTTTTT JkAdkAkikAAAdkkJli1k Connecting; at, KOBE or NAGASAKI, JAPAN, for CHEMULPO and other Coroan Ports, and VLADIVOSTOK. Operating the !N"ev, Fast, Palatial Twin-Screw 6000-Ton Steamers "NIPPON MARU" "AMERICA MARU" "HONGKONG MARU" FOR JAPAN: I V from HONOLULU, 1899: Sailing FOR JAPAN: 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. A 'wok SAN FRANOISOO, OAL. &35 'Wtyfp'Y