The Pacific commercial advertiser. [volume] (Honolulu, Hawaiian Islands) 1885-1921, 1888-08-11
The Oaha Railroad.

Mr.. EDITOR: l notice in your paper
of to day letter from Mr.. Gribble. AS
this gentleman has, much to my sur
prise, raised question of veracity, I
feel it my duty to reply, and will be as
brief as possible. In regard to the
points in the interview or catalogue"
disputed by Mr., Gribble, [ maintain
they are absolutely as reported. I have
made no statements which 1 do not
know, or believe, are true, to which 1
would make oath.
In regard to Mr.. Gribble's reference to
the $3.50, 900 for building twelve miles Of
street railway, beg herewith to submit
g copy of that portion of the Hawaiian
Tramways Company prospectus, which
refers to the contract for building the
twelve miles of road. EGO, 900 is not quite
$3.50, 900: this l will admit, unless COM
puted at So to the pound, as was pro-
posed in the first set of bonds sent from
England. The paragraph in said pros
pectus is as follows:
The present holders of the concession,
Messrs. Skinner & Co., by a contract dated
the 23d March, 1888, between themselves
of the one part and the company of the
other part, have agreed to transfer the
concession to the company, and to under
take the entire construction and equip
ment of the above mentioned lines, and at
their own expense to manage and work
the Same for three months after compile
ton for 100000, payable in cash, deben-
lures, or shares. The present issue will
provide for this payment and leave 95 900
for working capital, which is considered
ample. There is also a contract dated the
23d March, 1888, between the company and
Mr.. Theodore Graham Gribble with refer
ence to his appointment as engineer to the
company,
Mr.. Gribble has referred twice to the
publication l made of the Tramways
Prospectus, as though some wrong had
been committed. It is public docu-
ment, and l can see no reason why the
people in this country should not read it,
unless Mr.. Gribble thinks his suggestion
to me-not to show the original copy
(Which was sent to me by a friend in
England), as people here might not
understand it''-was not duly regarded
by me. Mr.. Gribble says: @ The idea
of giving the Tramways Company con-
trolling interest in the steam railway by
the subscription of the majority of the
stock originated absolutely with Mr..
Dillingham;" This statement is simply
overwhelming. When l was given to
understand by Mr.. 'Gribble that he must
have the control of the Pearl River road
or he would oppose me, did very re-
luctantly try to make an agreement that
would protect the rights claim in the
enterprise in question, without COLI
sion with the Tramways Company. Ac-
cordingly after our return from the trip
in the country, [ drew up a form OF
agreement, and met Mr.. Gribble by ap-
pointment in the evening One of the
first points of objection raised by him
was the right l had reserved for the
people in this country to raise 40 per
cent. of the capital. He anticipated nv
intention to secure if possible two more
shares after the scheme should be float
ed, and thus hold the control, and he
told me frankly that if we bought two
shares more we would have the control,
and said his friends would not agree to
such a proposition. He forthwith cut
the option for subscribers here down to
40 per cent. He objected to nearly every
point l made, and finally I told him to
draw upwhat he thought the agreement
should be. AS time passed on [ became
convinced that it would be impossible
for us to agree; | could see no good
reason why l should be forced to sign
any agreement of the kind.
The. g practical question: to which |
Mr.. Gribble refers, in closing, beg to
touch upon. If the Tramways Company