The Pacific commercial advertiser. [volume] (Honolulu, Hawaiian Islands) 1885-1921, 1886-11-30
AhhnaI Meeting of the Hawaiian
Commercial Company.

annual Meeting of the Hawaiian
Comm erciaI Company.
At the annual meeting Of the stock
holders Of the Hawaiian Commercial
Company, held in San Francisco re
Gently, out of 100000 shares $1,000
were represented. The following repor
OF the operations Of the past year wa,
submitted by H. L. Dodge, President:
/ To the stockholders OF the Hawaiian
Commercial Company: In presenting
/ this, my second annual report, I shall
endeavOr to give you reliable informa-
! ton with regard to the operations of the
company during the campaign, from
November l, 1885, to October 81, 1886.
In my last report, one year ago, | esti-
mated the crop Of 1886 at II 900 tons. 1t
amounted to 14,025 tons. The average
amount received for it was $85 II per
ton, or 4.255 cents per pound, against
SlO2 Is per ton, or 5.1O9 cents per pound
last year. The amount realized from
sales OF sugar during the year was 81
1913, 705 o., against $687 ,24O % last year.
Expenses during the past year have been
S849, POP "A, or $40, 766 80 per month, or
about So, 300 per month more than the
last year, while the production of sugar
has been considerably more than double
that OF last year. Milling expenses this
year have been 50 40 per ton, against
Sl2 81 per ton last year In addition to
the ordinary expenses, So, OI3 SO have
been expended for permanent improve
ments, such as buildings, fences, etc.
While expenses the past year have
somewhat exceeded my estimate, it
must be remembered that the production
of sugar has also exceeded my estimate
by 30 per cent.
The introduction of Japanese labor re-
ferred to in my last report has neither
been as profitable or economical as was
The company has in use
two steam plows which turn up ground |
to the depth of sixteen inches, which /
increases the production of |
cane as well as the expense of blowing.
So favorable has been this experiment
that another pillow has been ordered. A
very large tie IN of expense is in remov-
ing stances and preparing land for the
first cultivation which in many places
TO $50 per acre.
At the last annual meeting there was
l bonded Indebtedness OF 81, 100, 900 and
an Overdraft at the bank of $II7,4I6 O6.
since that time the Overdraft has been
paid, 100000 of the bonds have been
paid and cancelled, and at the end OF
he fiscal year, October 31st, there was
S9l 900 on hand, about enough to pay
expenses until the next crop comes in,
showing a gain during the year of $685.
Il6 As. When it is remembered that
he last previous years report showed a
oss of $3.50, 400, this showing should be
very satisfactory to the stockholders.
Cane.-The amount of plant cane the
past year was l 900 acres, yielding
Ons per acre, and of rattan cane $50
lcres, yielding 3.65 tons per acre. The
lmOunt of plant cane for next year is
,568 acres, and of rattan cane 1000
Icres. Should we realize the same Weld
Is the past year the crop would amount
c 1860 tons, yet for safety we estimate
t at only 1000 tons; it may exceed
hat amount.
We have reason to expect for the year
S87 yield of about II 900 tons, but
what price it will bring [ will not at
empt to predict One thousand acres
# new land are being cleared, plowed
md planted this year, which will be har
7ested in 1888. And it is expected that
he yield for that year will exceed any
previous year. For information more
n detail of the operations and expendi-
ures of the company during the past
'ear 1 refer you to the report of Secre- g,
airy.
The Secretary submitted his report for
he year ending October 81, 1886. The
assets foot up to So, 747 1874 a Among
he lower figures OF the assets are real
estate, 500, 800; buildings, 1928, $40 IS;
mills, $1,O5S, 40 80; construction ac-
count, Haikee ditch, 1891, 1856 As; rail
road, $3O8, O35 So; plantation, $685.
loo 40. The liabilities are estimated at
81 ,007, 797 81, of which sum the bonded
account is 81, 900, 900; mer-
$6,S11 90; freight due the 0.
:. S. Company, 1886 A. Surplus OF
assets over and above liabilities, So 49,
$50 II.
The following gentlemen were elected
officers and directors: President, II. L.
Dodge; Vice President, J. d. Spreckels;
Treasurer, A. B. Spreckels; Secretary,
E. II. Sheldon.