The Pacific commercial advertiser. [volume] (Honolulu, Hawaiian Islands) 1885-1921, 1892-08-24

consented to do Almost the first
thing that was brought up was this
map about bringing the water over
on to the west side taking In another
600 or 800 acres, and | said that l
thought we would like to retain that
because there was talk of consoll- +
dation of the Wailuku and Waikapu
plantations. Just then letter came
In from Brewer q Co. to me asking
me before coming to settlement of
all the commons to hold back until /
Mr.. Jones could go over to San
Francisco and consult Mr.. Welsh |
and Mr.. Bailey who were over
there and large stockholders in |
the Waikiki Company, that be |
thought they would agree to pro-
position to consolidate Wailuku and
Waikapu. And 1 read this letter ;
and I was in the act of reading it
when Mr. Spreckels Immediately
bundled up all his papers, and took
the maps and everything and told
Mr.. Williams, or whoever it was with
him, that he did not want to discuss
the thing any further and broke up
the meeting. / had given the arbi
traitors before that little outline of
the thing, and they understood per-
fectly about the question to be arbi
trated Mr.. Spreckels entered into
little discussion with Mr.. Bishop,
which grew little hot for moment
or so. He said, as near as can re-
collect, that he would take what land
he wanted of the commons, and we
could take what land we wanted, and
he would pay at the rate of pasture
land for it; and Mr.. Bishop said that
was an absurd proposition, because
he said this is sugar land, this is not
pasture land; and then Mr.. Spreckels
then said something about it being
his water that was brought on to the
land, and said what is the good of
this land without my water, and Mr..
Bishop smiled little and said l
would like to know first what is the
good of your water without this land,
and l saw then that they were going
into little hot argument about it, and
we tried then to smooth the thing
down, and just at this point this
letter came in from Brewer & Co:
Honolulu, H. l., March 9, 1891.
MEssRs. @. w. MACFARLANE q Co,
DEAR SIRs: A conversation having
taken place between Messrs. Cornwell
and w. II. Bailey in reference to consol-
idation of the Waikapu and Waikiki es-
tates, we write this with view of ascer-
tanning whether the negotiations my be
reopened.
Our Mr.. Jones intends visiting San
Francisco by the s, S. Australia, and
will meet Mr.. Bailey for the purpose of
discussing the ACCESSIBILITY of consolidat-
| ing the estates, and devise, if possible, to
take with him a proposition from the
owners of Waikapu for consideration.
A consolidation of the estates will be
so manifestly advantageous for all per-
sons concerned that we trust you will
prepare terms for presentation to Mr..
Bailey, who holds controlling interest
in the Waikiki estate.
Asking for an early reply, We are, dear
sirs,
Very truly~yours,
G. BREWER & COMPANY,
Per %. Carter, Secy.
| And when 1 had read about half of it
aloud, that annoyed Mr.. Spreckels
so that he picked up all his papers
and went right off. Mr.. Spreckels
Immediately set to work then to buy
Mr.. W. III. Cornwells shares, and
Mr.. Cornwell came to me and told
me that Mr. Spreckels had made him
proposition to buy them for GER
tain amount, and asked me what [
thought of it ; that he felt ner-
vous and worked up over this
affair, and did not know what
would be the outcome of any suit or
litigation, and asked me if I had any
objection to his selling his shares,
which were half of the shares of
the Company, that he would like to
sell provided had no objection, but,
as / had been his partner all these
years, that we would work together
on a perfect understanding, that he
would not do it if he thought it
would have the effect of selling me
out or placing me in the hands of
Mr.. Spreckels or the Hawaiian Com
mercial Company. I deliberated on
the matter very carefully, and after
consultation with two or three of my
friends decided that it would not
weaken my position any if this thing
had to go to law. Mr.. Cornwell then
went to Mr.. Spreckels and told him
that he was prepared to take his offer.
Then Mr. Cornwell came back to me
and said that he could not sell those
shares, as Mr.. Spreckels had said he
would not buy those shares of his
unless he could buy the note of Mrs.
Cornwell for about $4,000, which
had some of my shares as collateral.
/ then went and consulted Mr.. Bishop
about it, and Mr.. Bishop and Mr..
Damon both told me that they would
advance the money to take up Mrs.
CornwelPs note. Mr. Cornwell went
back to Mr.. Spreckels and said he
would sell those shares, but he could
not get his mothers note for him,
and that he could take those shares
or leave them alone, and Mr.. Spreck-
els then concluded that he would buy
the shares. The next thing, they
found on the record book that Mr..
Hind had some shares absolutely
transferred to him, some $4,000
worth that had sold him, but with
the private understanding that he
would sell them back to me at the
same rate that I had sold them to
him at any time, and then Mr..
Spreckels sent up to Mr.. Hind to buy
those shares, and Mr.. Bishop took
thoaa lharpS nm for mo fbon wont