The Pacific commercial advertiser. [volume] (Honolulu, Hawaiian Islands) 1885-1921, 1885-12-01
The Hawaiian Commercial
and Sugar Company.
A Full Report Of the Annual
Meeting and Financial
Condition of the
Company.
Isan Francisco Merchant. Nov. 2Oth.l


Commercial and Sugar Company was
held at their offices, 327 Market street, on
10Th inst, Mr.. H. l.. Dodge, President OF
the Company, in the chair. There were
between forty and fifty stockholders pres
emit, representing rs, 264 shares.
On motion of William Center, seconded
by Hugh Craig, it was decided that repres-
entatives of the press be allowed to remain
for the purpose of giving correct report
of the proceedings.
At the request of Hugh Craig permission
was granted to his attorney to be present.
PRESIDENTS REPORT.
The President, H. L. Dodge, read the
annual report of the Directors, as follows ;
To the Stockholders of the Ha,0aiian Com
merciaL and Sugar Company
Herewith beg to submit my first annual
report of the condition of the company,
with a general statement of the operations
during the past year.
During the year from November l, 1884,
to October 81, 1885, the production OF
sugar amounted to 6,666 1971-2OO0 tons,
Wn1cn was sofa NJ tn0 dNcAdSO PAASO "a
100000 cents per pound, or $I02 Is per
ton, Welding the sum of 1851, $40 %.
As compared with our sales of last year,
$87 SO per ton, we received $14 % per ton
more than last year.
Crop of 1886-From advices received
| from the Superintendent of the plantation
we have good reason to expect 1000 tons
during the campaign of 1886. This crop is
nearly ready for harvesting, and grinding
] is expected to commence about the first of
next month.
Crop of 1S87-The Superintendent re-
ports that the young cane Is the finest
stand of cane ever seen on the plantation,
and that good crops may be expected IN the
future.
Expenses-The, expenses during the year
have amounted to $50, 1928 90 per month,
aggregating 1907, LAG so.
| In addition to which 500, 800 16 have
been paid for land and permanent improve
ments, $4,000 having been paid to Claus
| Spreckels tor land decided to the company,
| being the amount he paid for the same.
An effort has been made during the year
+, to introduce Japanese labor on the planta-
ton, and $25, 900 has been paid for the
passage of Japanese to the Islands, and
| 800 are now at work on the plantation,
| which has already caused a material re-
| duction in the item of labor, and the Sup
erintendent confidently expects to reduce
expenses next year to 100000 per month.
| If this expectation is realized, and see
no reason why it may not be, II, 600 tons OF
sugar at a fair price will leave handsome
| surplus for the ensuing year.
Deed-During the past year the land
embracing about $1,000 acres, the mill
bitches and all personal property of the
company heretofore held in trust by Claus
| Spreckels have been conveyed to the COM
pany and the deed was placed on record in
Honolulu, June II, 1885.
! Bonds-The indebtedness of the COM
pany,, which at the last meeting was 81,
| 100, 900 has been funded as authorized at
that meeting. deed of trust was made
to NJ. Ehrman and P. N. Lilienthal, and
| bonds issued for 81, 100, 900, running 10
years at per cent interest, the company
reserving the right to redeem any portion
of them at their pleasure.
These bonds were all taken by Claus
! Spreckels, no other party applying for any
of them. The low price of sugar during
the year, coupled with considerable outlay
for railroad stock and other expenses, de-
tailed in the Secretary's report, to which
you are referred for particulars, have COM
bined to make our present showing about
| $3.50, 900 less than last year.
The company has forty-three miles of
railroad, TOUR engines ana 40 cars IOr maui
ing cane. All of which is respectfully sub
! mitted. H. L. DODGE, President.
San Francisco, November 16, 1885.
The President announced that a number
of letters from the Superintendent of the
property were on file and accessible to the
stockholders if they wished to read them.
The substance of the letters was all incor-
porated in his report.
Secretary Frank N. Walton then read the
Secretary's report, which was accepted and
placed on file.
sECRETARYs REPORT.
Hawaiian Commercial aud Sugar Company from Oct