The Daily bulletin. [volume] (Honolulu [Hawaii]) 1882-1895, 1889-11-09
MAKAW ELI,
-... - ,-.-.--.---
Che Great New Sugar Plan
tatiOn Oh Kauai.
.-.a--.-
Formation Of the Hawaiian
Sugar Company,
Capital 100000
HAWAIIAN SECURITIES III LONDON.
Interview With Colonel George w,
Macfarlane.


him and asked him if he could give
the BULLETIN the facts concerning
the negotiations in London in float
ing the large sugar company that
had been coniided TO his care by
Messrs Gay, Robinson and Sinclair
(owners of large tract of sugar
land on Kauai, and certain Homo
lulu capitalists. Mr.. Macfarlane
courtcously replied that he had
been successful beyond all e! pee a.
tions in syndicating the company,
the scheme rs presented by him
having Immediately recommended
itself TO his English friends and in
vestors; but as Mr.. w. Kenny
Watson, the principal subscriber in
England and the moving spirit in
the whole plan, had decided to join
hands with Mr.. Henry p. Baldwin
in the enterprise, they at the latter's
suggestion concluded to make it a
Hawaiian company for the present,
incorporating il under the laws of
this kingdom. And, until the charter
was obtained and the company fully
organized he did not care to give
the facts to the public, as it would
be little premature. But once all
the points were definitely settled and
the organization completed the Bull
LETlN would have all the facts that
would interest its readers and the
investing public. Yesterday, there
fore, our representative succeeded
in finding Mr.. Macfarlane and OBJ
tanned the following interview;
Reporler--Now that the Kauai
company has been organized, Mr..
Macfarlane, and its officers elected,
can you give Inc the particulars you
promised the BULLETIN on your re-
turn from London q few weeks ago?
Mr.. Macfarlane-Yes, with pleas
ure but be careful you note down
the figures correctly, as the omission
or addition of a cipher would throw
my statements considerably out of
joint. The enterprise is large one
and we deal pretty much in round
figures.
R.-What is the capital of the
company?
Mr.. M.-Two million dollars divi-
ded into 10000 shares of 500 each
par value. 1t is limited liability
company.
R.-Who are the principal sub
scribers?
Mr.. M.-Henry p. Baldwin, VIM.
Kenny Watson of Glasgow, John
Fowler & Co. and Col. j. I. NORTH
of London, estate of Andrew WEIGH
of San Francisco, Z. NJ. Walsh
(manager of the company, Chas,
II. Bishop, Geo. N. Wilcox, Albert
Wilcox, J. A. Hopper, c. Brewer
& Co., Castle & Cooke, S. C. Allen
G. NJ. Cooke, Gay & Robinson, w.
G. Irwin, II. Morrison, j. Mott
Smith, estate T. r. Foster, and
others, their subscriptions ranging
from $500, 900 down to $4,000. A
number of shares will later be APP.
portioned to smaller investors, ran
ging from IS, 900 down to $500, a:
1t is Mr.. Watson's and Mr.. Bald
wins policy to give the small inves'
tors of this country 2 chance. We
are at our wits ends, however, t.
meet the demand from all directions
as, since our company was formed
and the shares allotted [ am daily
besieged by applicants for stock
and over 100000 above our capita
stock of 50 900, 900 has been applied
for. | have given up $4,000 0
my shares and Mr.. Baldwin $35, 00'
of his to meet this demand of tn
small investors, and | hope to obtail
$25, 200 of Mr.. Watson's shares 70
this purpose. All the large sub
scribers have been cut down con
siderably on the amounts they APP
piled for, and the English subscriber
about onc-half.
R.-What is the size of the cstat
and what do you expect the annua
crops to be?
Mr.. M.-We have about 500
acres of the finest sugar land in th
country, all virgin soil, which it i
proposed to irrigate by water car
ried from the mountains through
large ditch. Mr.. Baldwin estimate
that the annual crops will be fror
10000 to $4,000 tons after he ha
got the estate well under way. MI
Baldwin with Mr.. Walsh as manage
has the general direction of the lay
ing out of the estate and the con
struction of the ditch, and on dc
tails of this kind perhaps Mr., RalG
win can give you fuller informatio
than l can.
R.-Ilow many miles of ditto
does the estate require?
Mr., NJ, MIR. Baldwin is now on til
estate with surveyors completing I'll
survey, but believe it will requir
from eight to twelve miles of dltcl
some parts of which will requil
large quantities of syphon piping {
~ inches diameter.
R.-Will there be a full supply
water from the mountains