The Pacific commercial advertiser. [volume] (Honolulu, Hawaiian Islands) 1885-1921, 1889-01-21
Oahu Steam RaiIroad.

seem out of place. 1t is about three and
a half years since l ventured TO try to
interest the people in this country in a
scheme to unlock its waste lands, by
bringing certain large and valuable
tracts on this island within easy reach
OF this city, by means OF railway fifteen
to twenty miles in length. Had l
formed any conception of the work to be
done, money to be expended, time to be
| consumed or patience to be exhausted,
l should never have had the courage to
undertake the Herculean task. 1t is not
my purpose now to infict upon the pub
lie detailed account OF my experience,
a very little OF which is pretty generally
| known. However wild and visionary
the scheme may have appeared to those
who had never given it a thought, it was
! sound enough to commend itself to the
! fortunate owners OF the tramways fran
| chise, and but for the desperate fight
made during the session OF the last legis-
| lature, for what seemed to me to be my
| just claim-a foreign syndicate, with no
| interest in this country beyond desire
| to get all they can out OF it-wOuld have
owned another valuable concession. 1t
! is one OF the weaknesses of human
| kind to condemn things without trial,
or even an investigation. 1t is the habit
OF many people to express opinions in
very emphatic way, OftentimeS calcu-
| lated to influence those around them,
with no knowledge whatever OF the
merits or dement's of the subject under
consideration. Comments made about
the street tramway enterprise are illus
| trative of this propensity OF many OF our
| we'll meaning people. 1t was amusing
to hear people waste their sympathy on
the London dupes who had more
money than brains" Time Will soon
prove who are the "dupes." l am not
| afraid to congratulate the Hawaiian
Tramways Co. upon their prospect Of
! receiving more than the entire actual
years during the whole term OF their
franchise (thirty years.. A better in
vestment for our own capital could not be
found l think in this country. 1t is the
reward of enterprise, and while [ rejoice
in their success and prosperity, l could
not be true to the interests OF this my
adopted country if l did not say [ wish
we had had the foresight and enterprise
manifested by Messrs. Skinner q Co.
Think of a city the size of Honolulu pay
ing $3.50, 900 in single year for hack
hire and supporting an outfit OF private
carriages equal to almost any city III the
United States with twice the population.
Almost any enterprising town in America
with population of 200 to 5000 can
boast of a we'll paid horse car system.
This place is as good as a gold mine for
such an enterprise. II there are any
doubling ThOmases still in our midst they
will not have to live many months more
to be convinced of this truth. Now let
us consider the pearl River scheme"
The franchise granted to the home com
pany for the construction OF steam rail-
roads on the island of Oahu is good ana
valuable one, though it was something
of damper upon my enthusiasm to wit
ness the successful effort OF some of our
statesmen in cutting my franchise down
from thirty to twenty years, and to know
that it was their wish to grant no exclu-
/ siVe right WhateYer-while in the same
session an extension was granted to the
London Company for a thirty years
right to extend their line through some
of our principal streets. While all this
was anything but an inspiration to wan
ing courage, it was accepted for an
honest intent to serve the best interest
! of the country.
1t was said [ would only sell the fran
chise, that it was impossible to get any
subscribers TO the enterprise here. This
led me to state through the press that
would neither sell the franchise nor seek
capital abroad until the people of this
country had had an opportunity to refuse
to invest in the scheme. Barely four
months have elapsed since the franchise
in question became a law. The rails for
fifteen miles of track are ordered TO be
| i II, a. J,,lF 10
bonds are subscribed for. 1t is due to the
courage and enterprise of Hon. NJ. p.
Robinson that this work has been SO
quickly accomplished. Had he not
turned over 1000 acres of valuable land
in fee, $4,000 acres under lease for
nearly twenty years, and subscribed
$22, 500 towards the construction of the
road, the rails would not have been
ordered in time to catch the January
vessel, which would have deferred the
construction of the line at least four
months, and It is possible that none OF
the subscriptions which followed would
have been made. Some of our largest
firms and best citizens have since sub
scribed, and more will follow. lnsinua
tons which | accepted as a joke were
made to me because native members OF
the legislature all voted solid in favor OF
; giving the Hawaiian man the franchise.
Yes, did promise them something; ii
was this, and nothing more: that
would do my utmost to make this a Ha-
waiian Company, and carry it out if pos
sible to a dollar with Hawaiian capital
That l would try to secure lands which
should be divided and sold to the people.
That | would try to make it a safe invest
ment for any one, and finally, that
would make the bonds or portion Of
them small enough so that the native
people with limited means could share
equally with the wealthy foreigner OF
white man, in this national enterprise.
Accordingly the company will issue a
part of the loan, say 5000 to $4,000,
in first mortgage bonds in denominations
of $25 each secured by the entire pro-
perty of the company and bearing inter
est at per cent. net.
Now we come to the question of the
soundness of the enterprise and safety OF
investment. The following is a schedule
of the property which Will be mortgaged
to secure the payment OF the bonds:
Exclusive right to operate steam rail
road or railroads for the Pearl River
line " for twenty years with all the
rights and privileges conveyed by the
special Act to r. f. Dillingham;.
| Fifteen miles of railway with 30 Ii