The Hawaiian gazette., 1898-11-04

CANE AREA TO Be EXTENDED
Between 5000 and 5000 Acres
OF New Land = Pumps ORDERED.
Mr.. Lowri. to Take Charge.

Whatever may be The course and
movement OF Hawaiian Commercial
lspreckelsville Plantation stock In
san Francisco. there l. marked actiy-
ity in the security here I'm Honolulu
The last quotation from the Coast (san
Francisco Stock and Bond ExchangeD
was $3.50 on the 22nd OF October. a
week or ten days before that. when
she stock was $3.50 bid and si3 asked
in San Francisco, a sale was made
here at ti5 This transaction was In
530 shares and the purchaser was
man identifed with one of the large
plantations on this Island, but not the
manager OF the estate with which he Is
connected. Il Is a somewhat peculiar,
but perhaps a perfectly natural fact
that a considerable quantity of the
stock has come to this market. II has
been brought by men who anticipated
a change and an advance from the
knowledge of likelihood of the proper
ty or control OF the corporation chang
ing hands through the operations of
the Spreckels boys on the Stock and
Bond Exchange at San Francisco.
None of the stock bought on the Coast
by Jas. B. Castle and his associates
is on the market here. II is not prob
able that any OF II will be for perhaps
years. II is the swinging" block and
will be kept intact for more reasons
than the ordinary business causes or
situations might suggest.
A sale Of Hawaiian Commercial was
made In Honolulu yesterday by Brok-
er Harry Armitage at $50 a share. This
is the first local transaction in the
security representing the mammoth
Maui estate since the sale at si5. An
advance of five points from trade to
trade is unusual, TO say the least. The
stock has decided upward tendency.
1t is now known positively that w. j.
LOwrie, who has brought Eva planta-
ton up TO its wonderful standard, j.
TO be manager at Spreckelsyille. 1t II
che expectation that Mr.. Lowrie will
in due time bring the yield of the Ha.
waiian Commercial estate up to 10000
tons OF sugar In season. The outlook
IL now clear for 10000, which Will be
the greatest on the Islands, though the
new Oahu Is expected to go over 25,OOO
tons In a few campaigns. II. p. Bald
win, one of the most successful plan
tation men of the Islands. Is a large
owner with J. b. Castle in the control
ling interest OF Hawaiian Commercial
and Is to be identified in some measure
with the management. Mr.. Baldwin
has his headquarters on Maui, where
he keeps eyes on a couple OF planta-
tions. The stock in these estates is
away above par. Hawaiian CONNER
cial was at one time sold at sos and
there does not seem to be any reason
why =. should not gain go to that
figure, and 1t may go above It.
One plain warrant for the rapid or
sudden rise in the value of Hawai-
ian Commercial stock lies in the fact
that the cane growing area of the es-
tate is TO be largely increased. The
company owns between 5000 and 5000
acres OF rich land just above the line
of the big ditch and extending up to an
elevation OF $50 feet. This land has
not heretofore been cultivated. Pumps
have been ordered for the irrigation
of this new tract and 1t will be planted
SO soon as possible. There is an un-
limited supply of water avilahle.
Altogether, the change in the out
loOn for Hawaiian Commercial is most
favorable and II any amount of the
stock gets down here there will be
lively trading in il.