Hawaii Holomua, Volume III, Number 104, 4 May 1894 Edition 02 — Needed. [ARTICLE]

Needed.

Htrdly a d.iy goes bv, witliont some tr:insactions before tbe Courts of tbe conntry sbow tbat tbere is sometbing ridic.illv \vrong in regird to the raanner in wbicb trustfnnds are handled. W e do not desire to be pers >n<i! and wo are not called upon to make any specific charges or make any parsontI criticism. Tbe fact remains thongb that tbere 5s a most inexcusible svstem in vogue bere under wbicb trustfuuds aro being used. We bave formerly been in favor of a public ndministrator wbose responsibility virtu illy reste«l in tbe gnvernment. AVe sbouId bo in- | clinedioadvoc ttti tbat tbesystera, | used in all oivilized countries — but we beliovo that the American plan of establisbing ‘•trust M eom- | paniea will fill tbe bill bere, and ' relieve Hawaii of a mueh needed ! demand A company should bo formed wbo.se business it would be to atteud to estates, and all \ matters of trusts. A company that would be wiiliug and able to I protect the fan<ls of widows and ruiuors, aud that wouhl be placed !: on such a secnre financial basis : j tliat tbe investments in person*l notes. or on iuadequate secunti«s i \vould be an impossib:litv. Tie company should also make it a part of its business to fnruidi 1 bouds for employees in respoui ib!o positions as done in aJ the I.irge Amenean citieri I M.iay other specialities conld b» fonnd for snch a corporation anl the financial success would b» nndoubted. The community* taught a severe Iesson uow ii , regurd to trust-fuuds—\vonld hail tbe advent of a "trast” eom pany \vith enthusiasm and a beartv support. We submit tb ; s siiggestion totbespecial consideration <»f meu like J. O. Carter, Geo. R iss, P. C. Joaes or Bruce Cartwrigbt. We doa‘t eveu B.in (uingl ont W. F. Allen nor do we Dīlli(ngbam) Dally witb otber “prafessioaar’ trustees. ( Get a raovo on.