The Pacific commercial advertiser. [volume] (Honolulu, Hawaiian Islands) 1885-1921, 1885-07-10

stopp~Q q. lnen ne proposed to refer TO
some uaexpressed dissatisfaction and
anger, which he entertained at the meet
! ing, based upon the misconception that
| the title TO lands in Hawaii was vested in
| Claus Spreckels, and not in the Hawaiian
| Commercial and Sugar Company. But the
| witness was ignorant on the very subject
! 70 which his anger and dissatisfaction re-
ferred; for the declaration Of trust and the
assignment OF 1878 and 1882. of neither Of
which he was aware, had already been
put IN evidence, and he did not know how
much land the company owned, but sup.
posed II to be about 900 acres. He bought
MS stock in September, 1882. when Claus
Spreckels was on his seven months trip to
me Sandwich Islands. where he was work.
ing Tor the interests OF the company in the
matter of the lease Of crown lands and in
me matter OF water rights and therwise
de did not purchase from Mr.. Spreckels
or MS sons. He was aware OF the fact
that there had been large expenditures for
permanent improvements. ne had made
no personal investigation of the books of
the coinpa y. he had not inquired about
the title u the Hawaiian lands from the
attorneys for the company, whose thorough
COMPETENCY AND Responsibility
Are Endorsed by the other side, and through
whose hands ali the pagers had assed.
At the meeting he heard a report read
Whlcn showed an excess OF assets over
liza little, ~, 10000 or thereabouts and
which included for it has Ueen read here,
as part the assets, the very lands which
that the rates II sugar in this market last
year had been low and that, owing TO the
temporary and pa tial failure of water
schemes incidental To all new enterprises
the crop realized by the company had been
oily aUOUL 100 or 200 tons ilste #
5000 or I,UN. He heard every question put
to Mr. Spre kcls al the meeting promp ~
and cOHrtoOus4N answered. lie wItne Ssed
the ap ONT emit of n committee OF three
out OF the gene al bod Of ne stockholders
70 report fu-'y On AL the topics pro 20 sed at
the meeting. He uu know he fact that
Mc Spreckes him Elf wiped out the in
dtbtedness r he co many. at least FIR
the present, by taking its bonds to the
amount o. l, 10 90 nd yet, under alI
these circUmsC n Is. alan 81 destitute OF
access bic in orm ion. wrong in every
propos ton, he t .cs ,hs gentleman was
put forward 10 cor opor4te the false and
libelOUs c 4 .gcs g.. the Chronicle s me of
which ne HIM sci q nie4 and t. contradict
Claus Sprc kei-, William r, enter and Mr..
Harrison. The rea! secret OF his dis, ontent
was that he ought stock for Il speculation
ana. on %OVem Ter 10 lS-4 II was selling at
20 cents e. share. Mr.. Spreckels and his
sons held their stock an investmet and
cared not Ing To- oreratiOn on tn street
or in the stock Board with which they
had never inter. erco. And, out of forty
or hfty stockholders present at the meet,
ing. ne coul1 only me AiJn two. Dr.
Barkan and 5; a.. Martin. who spoke
out with any degree Of emphasis. II
MERCANTILE CORPORATIONS
public bodies. and IL it be true, and it ia
true. that news. aperS ere bound o inquire
Il ON the best sources before they speak
and that they are responsible for their
statement OF Kat I, as well as their pin
ions. L leave IL to you, gentlemen, to de-
eide whether the testimony of Mar. raig
furni hes the slightest excuse for the in
famous calumnle5 u the chronicle on No
veniber IL, I;oi; whether it does not in
fact atfirmatively prove that the article of
that te was iaIse and lOelOus. and that
any Grim that was committed about that
time was committed 10y he chief t,rosecu-
TOR on this trial when he deliberately pro.
posed that innocent ana respectable gen.
Llemen, including .laus Spre kels. should
be Grimm lily and ciNilly punished for do
ing their duty. Mr.. McAllister, who com.
plet ly riddled MIR. Craig, testimony, and
EFT it necessary for me TO allude to 1t only
TO maintain the cOnsCcutiVeneSS of my ar
gum Mt, has fully brought before you that
while for lor 6 time he led US to suppose
hat he was com planning of Mr.. Spreckels
he sum OF $1,000, 100, he remembe red on
that Mr.. Spreckels had only
asked, so far as the land was concerned.
20 be reimbursed to the amount of 10000,
which he had expended in the purchase of
'ome out 'tanding interests. Mr. McAllis-
er has also fully gone over the evidence
II DR.. Ba kan and ID. K. Martin. whose
contradict the Chronicle arti.
lie, although they were called by the pros.
,cution in rebuttal, and who deny thag
hey made any demonstrations whatever
u m0CI nllil1 dIO CI6dTly pace MI. Craig
n the attitude OF the only
DISSATISFIED sToCKHoLDER.
II. Bendel, who has also been dealt with
~ Mr.. McAllister. was originally inter.
,sted in the Hawaiian Commercial Com.
)any and whatever loss he sustained was
N his original investment. so that he
ould not have been "roped in" by the
fvidends declared in 1882, years after his
and besides, he participated in
be profits which his partner, Mr. Iillmann.
called by the sale OF 900 shares to Claus
preckelS for $3J,OOO.
So much for the article of November 10.
834. one of the very worst in the series,
7hich was manufactured and false in
very essential particular, and involved
ne commission Of forgery, If not in a legal,
{ all events in a mo al sense.
The very next day, Monday, November
7, I8 4, two days before the shooting, ap-
cared the last article In the record which
va5 an editorial under the head OF The
Id Story" to be found at page 73I Of the
acord. This article states hat all there
Of value i the assets of the Hawaiian
commercial and Sugar Company will be
ugust 81, 1882, the Directors declared q
ivIdend OF $4,000, when they only had
Il, So in the bank; that in . tober, 1882 &
le same Directors, of whom Claus
ere two, had declared another dividend II
900, @d this increased the bank in
sbtedness of the company TO oil 1900; 4
lat the OBJ ;ect OF declaring these di vidends Z.
as to bull the stock. aud that, for declaT-
g them out OF borrowed money" the II
ire tors including Ilaus Spreckels. G. A.
oreckels, Ex-Governor Low and w. II,
abcOck, were civilly and criminally r.. .
'onsible, and could be indicted and con. Il
cted." n
1t VIII be remembered here that Claus
)reC kels Was absent, and when he re. Il
rned
DIsAPPRovED or THESE DIVIDENDS:
lat when the first was announced there
as money 20 meet It, and that at the time Il
the second !. -. SpreckelS 81 Brothers N
ed the corporation about 100000, or
uble the amount OF the DIVIDENDS, and n
at he statement that either dividend
ID been declared out OF borrowed
onfy y was IL firm and substance abso- NJ
tely al5e. III
Bnt d FORGOTTEN for the moment tho
andard BY which h Chronicle proposes
at we hall dyed. IT course TO say II
at Claus SprccG"4s, that his youngest
ing son, that an Ex-Governor OF the
ATE, and that an OIL merchant, whose
m Is the very synonym for integrity,
a perpetrated crimes for which they
ght To be ami could be indicted and
nished, was not personal and was not
eIous.
Ana now gentlemen. have finished
tn this IA bored and d stasCeful examine
n The CHFo1Jt d. articl s. and the re-
lind OF my task VIII be comparatively
y and pleasant. Ell
yr. McAlilster 8 read from the testi
1By of Ca US Spreckel5, OF William
inter-, or lsldor Cutie, II Charles Hess
;, or samuel Sus5msn, OF w. Is. Daven-
TT and of w. /. h. Walter, seven wit.
SECS, who are not cont. addicted on these
ints, and has conclu lively proved what
My rec pitulat5:
first That the "a articles were all read
the defendant, g. A. Spreckels, Nv
secOnd-1hattheyw were discussed by the \
fendant on the basis that they were
lndalou5 and false. as thi X both My
,AliiSter and myself have clearly she .l Z
1t they were, and OF course their b. C