The Pacific commercial advertiser. [volume] (Honolulu, Hawaiian Islands) 1885-1921, 1889-02-05
OAHU RAILWAY AND LAND CO.
The Prospectus Issued-A Business-like
Document.

The Prospectus Issued-A Business-like
Document.
The prospectus of the Oahu Rail
way & Land Company is printed and
ready for distribution. It is con-
else presentation of the inducements
to subscribe for the company's bonds,
of which it is proposed to ISSUE
100000 at 7 per cent, secured as a
first charge or mortgage upon the
entire property and undertaking Of
the company. The capital stock is
100000; the first issue to be $3.50
shares of the par value Of 500, to
cover the entire property of the COM
pany, including fifteen miles of rail
way and equipment. The stock will
be held by members Of the company
until portion of the bonds be re-
deemed
The seven per cent. bonds referred
to above are offered for public sub
scription at par, in denominations of
$25, 500, $500 and $1,000. Twenty
per cent. of the subscriptions for
bonds will be payable on application,
the balance in four equal payments
July 1st, ensuing. 1t is proposed to
| issue the bonds in three series of
! 100000 each Series A will be re-
redeemable at the option of the COM
pany any time after two years from
! their date. and not to exceed ten
years therefrom. Series B will be
redeemable at the option of the COM
pany after four years and within ten
years of their date. Series & will be
/ redeemable at the option of the COM
pany after six years and not to ex-
coed ten years from their date In
| terest will accrue from the dates of
the payments of the instruments, and
will be payable on the first of Janu-
airy and the first of July each year
Arrangements are announced for
subscriptions by clubs, whose mem
bers take bonds to be redeemed in
payment for land on the completion
Of the road.
Officers of the company are as fol-
lows President, Hon. w. II. Cas-
tie Vice-Presidents, Hon. j. [. Dow
sett and Hon. w. &. Wilder Score
tary, Mr. Geo. q. Williams Treas
urer, Hon. NJ p. Robinson; Auditor,
! Hon w F. Allen; Directors, Messrs
s. &. Allen, r.. Levers and Thos. r.
Walker. Other information con-
tanned IN the prospectus has mostly
been laid before our readers already
by Mr.. B. T. Dillingham;, promoter
of the whole scheme. There are,
however, some fresh points Of in
! terest.
The number of lots to be laid out
| at the further terminus of the line,
Pearl River HarbOr, will probably
exceed 1000; size Of lots will be Tex
200 feet, say $4,000 square feet each.
The upset price willrange from 500
and upwards per lot, according to
| desiraSility of location. Terms of
payment will be easy, probably not
over one third cash, balance in two
to Eve years, with interest at not
over seven per cent per annum.
Purchasers of property from the
company Will be able to secure com
IN utation tickets at special rates,
which the company feel sure will be
found satisfactory
The line has been surveyed as far
as the Eva Court House. A good
portion of the bonds have been sub
scribed for. A contract for the build
ing and equipment of the line be-
tween the company and Mr.. B. F.
Dillingham; viii shortly be made,
when the work Will be commenced
and pushed to a speedy completion
Copies Of the prospectus and forms
of application for bonds may be OBJ
tanned at Bishop & Co. and
| Spreckels ~ Co.'S banks, or at the
office of the company. All cOmmun-
ications should be addressed to the
/ Secretary of the Company, Mr.. Geo
{. Williams, Z. =. box 9S.