New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1898-07-26
pTNOR OF A DEAL IN SUGAR
r,,e TRUST AND THE HAWAIIAN COM
pANY SAID To BE MAKING AR
RANGENENTS.

.o,,,, with the annexation Of Hawaii
-. r,v. been persisten. ruGnors 10 the erect
VIZ. rho Sugar Trust had concluded important ar
'ar.,.erts With ;he Hawaiian Commercial and
s-~,r Company. which owns monopoly IN max
NV sugar on The island Of Maui. one OF the
H'e ,,cor.ant Of the group. This company was
ho.,.ed IN 1Sss under the laws of the state
1sc.u,or,Ia With a subscribed capital of No,OcoOn
'. ,no 400 shares at Slco each There was PAID
y. ., cash s2sle755 since II began business IL mas
Ia IN dividends $4,000. In lS% there was an
S,s,andinr bond indcbt edress OF NlOWo, nut IN
,sx This was refunded by the company in London
:. new issue OF 10000 bonds. having a value or
.s,u, $4,000. the difference having been paid on
=, tho company since that time. besides establish
d. one-,wcntlsth sinking fund The president
- ,he company Is Rudolph Spreckels, and Charles
e Wheeler Is e-president These two are also
!, the board OF five directors the other members
,ser C. A Spreckels. manager; NJ 5. Wilson, a
.su-known San Francisco lawyer. and M H.
Esch:
rhe companv's New-York Office is In the Com
,src,al Cable Company's new building in Broad-st.
y + Nogacker Is the local representatives When
,..n Yesterday afternoon by Tribune reporter
yr Hoffacker said that c. A SprecSeis had LEFT
vax-York more than week ago for San Fran
c,sco Mr. Spreckels had said nothing TO him be-
,ore leaving the city regarding any deal with the
s,sar Trust, nor had he received any word on the
.rh,eot since his departure There was positively
,o,hing OF a definite character which he might say
,agardng Il, Mr. HoMacker gave much informa >
,,on regarding the Hawaiian company.
The Hawaiian company owns about forty thou
sand acres on the island together with an enor-
mons plant erected cost Of over 100000. There
are over seventy miles of railroad track on the
island constructed by the company. on which are
o,nroted four locomotives and so fitted up
,o- rawing sugar cane. The railroad and equip
rcsnt represent value OF STATES There Is large
nrigating system. which represents cost OF sooeSi
aides steam ploughs and implements WORTH
n50o The company owns several stores. ana
there Is over $4,000 worth Of merchandise kept
constantly in stock. This year the yield IN raw
sugar is expected - be 5000 tons. and next year
I-0p IONS This product is delivered in New-York
GRADED AT es centrifugal test and II requires little
manipulating 10 put II in the pure white grade for
the consuming demand. Under annexation there
stl be no duty TO prevent refining the raw product
right up 10 the grade required on the island. and
while the policy Of the company in this particular
has not been announced It would not be strange
4 such a step was taken. Almost the entire output
Of the company has been shipped in the past TO
New-York where the American Sugar Rennlng
Company has been the purchaser.
In connection with The Sugar Trust rumor 1t is
Interesting TO note tina, there has been clean
ng up Of the Hawaiian companys stock in the
ocal market. 1t was only last faN mat me
president of the company sought TO have the
Itock OF the company admitted among the unlisted
I,ocks on April !. 1885 the record shows that
here were only about four thousand shares In
New-York Since that time up 10 last week there
lave been transferred from San Francisco over
twenty-five thousand shares which have all been
AIKEN In view Of the fact that the company mas
lot been declaring any dividends or late, IL wouI9
lppear that some must have a special ana
ngniacant motive in getting hold OF It's stock. From
authoritative sources IL is declared that neither
rudolph Spreckes nor his brother, {. A. spreckes.
las a controlling interest in the stock. Between
hem and a few friends the control is held. but II
here should be a well-planned movement 10 buy
he company and any of these friends shows
he white feather. such project might succeed
I was said Claus Spreckels and his two sons. John
> Spreckels and a. B. Spreckes, are IN the sugar
trust while the two younger brothers, already
Mentioned arc in the Hawaiian company. The
wo latter have been neXatonists. while the for
uer have bitterly opposed taking in the Islands
At the Office of the American Sugar Refining
Company. No. III Wall-st., II was asserted that
iothing was known regarding deal between the
wo concerns Mr. Searles not 10 be found.
md the representative of the company seen by The
Tribune r porter denied that there was anything
the report which he himself regarded as highly
rnprobable Another interesting fact in connection
vt,h the present subject Is that yesterday the
itock of the Sugar Trust was the most active on
ks entire list. there being 62SOp shares sold al a
ret advance Of ~. closing at 1864.