The Daily bulletin. [volume] (Honolulu [Hawaii]) 1882-1895, 1892-03-24

hlldlltu.
OF the cash assets, two items, o.
T. Shipman $1,000 and j. II. Wilson
$111S. 81, are for live stock and trans
portation plant sold TO them respec-
lively, which are being paid for out
of their monthly bills against the
Company %. 7. Shipman by fur
nishing the Company with beef, but
ter and milk, and Wilson by trans
portation on the Kau side.
Although these two accounts will
probably be paid in full during the
year, they are not now available with
which to pay debts.
There is therefore needed to pay
all liabilities of the Company, the
amount of the above last two items,
plus the deficiency above indicated.
In order to meet this deficiency it
is necessary to borrow the amount,
or sell stock sufficient to pay it. The
number of shares which would have
to be issued to cover the debt would
be 159.
The number of shares still availa-
BILE for issue is SO. The issue of
shares proposed would be, therefore,
101 more than the present authorized
issue.
Since making up this statement II
shares amounting to SITS have been
subscribed for, leaving S2206.9S bal
ance to be provided for.
THE BUSINESS OF THE COMPANY.
The following brief statement of
the business Of the company will af-
ford basis for estimating what can
be relied upon in the future.
The company took over the Volca-
no House and the Punaluu Hotel on
the lst of March, 1891. 1t was ex-
pected that the new buildings would
be completed in July, but owing to
the great difficulty of transportation
of lumber and material they were
not completed and ready for occupa-
ton until about Oct. 1st.
From June to October there was
an average of over 20 workmen at
the house, making it difficult to prop
erly care for travellers with the lin
tied accommodations available. Tray
elers who came were cared for as
well as the circumstances would adj
nit, but no advertising was done and
no effort was made to increase travel.
October lst is therefore the date from
which data should he drawn upon
which to base an estimate of future
business.
RUNNING RECEIPTS AND EXPENSES OC-
ToBER lsT TO MARCH lsT.
Receipts. Expenses. Dehcien cy.
1891.
October S603.90 $1l8762 S583.72
Novem'r 835.25 ll06.l1 270.86
Decem'r S44.55 901.8S 57.33
1892.
January 73l.9O $500 127.1O
Febru'y l36S.75 l373.69 4.94
Totals. .4384.35 5429.3O l043. 50
Total deficiency during last three
months, Sl89.37, or an average OF
$63. II per month. From this show
ing il appears that to meet expenses
it will be necessary to increase the
receipts or decrease the expenses
$63. II month. 1t is believed by
the directors that both can be accom-
plished.
FIRST DECREASE OF EXPENs Es.
One item of expense has been TIN
Punaluu Hotel. The net running
expenses OF this department over and
above the receipts during the last tiv
months has been at the rate of abou
S25 "a month. A new arrangement
has been made beginning with thu
lst of March, by which the hotel il
rented out for SIS a month, the les
see paying the ground rent of $l2j
per annum.
There will therefore be an incom,
of Sl7 per month instead of an ex
pense of S25, equivalent TO reduc
ton of SAP month in the difference
between the receipts and expenses.
This leaves only S2l to be dispos
ed of.
Heretofore there las been nj
charge made for steam baths, billiar'
. table, or for use of horses and car
) riages at the hotel.
A regular schedule of charges 10
these items went into effect Marc
LIST, and the receipts therefrom WI
Y considerably more than equal tn
above deficiency.
THE TRAVEL TO THE VOLCANO.
The number of tickets issued du
ing the five months has been as TO
0 ! lows