The Hawaiian gazette. [volume] (Honolulu [Oahu, Hawaii]) 1865-1918, 1899-10-13
Cause Of The Biz Furry ID de
Stock Yesterday.
sRsxERs HAVE A susy DAY
Hawaiian Commercial WIN Grind
k,hsi Cane for Ten Seasons
The Rumorsd Generalization.


terday and It was all on account of XII
hei. On Monday afternoon there was
a sale Of 100 shares at 910.50 seller z
days. but the FIRST sale made on the
board yesterday morning was $50
shares at 913. At prices Auctuating be-
tween $3.50 and 1925 the sales OF the
morning session footed up 1.19O
shares. Between boards q sale was
noted Of 70 shares at $3.50. A. the
afternoon board the first transaction
took place at $3.50, the stock closing
strong at $685., 1926 shares being sold
in short order.
BY the time the news Of the rise in
the stock reached the street orders to
buy came piling In on the brokers
thick and fast. and the price soon
reached SIS. One would-be purchaser
was upbraiding his broker on the
street because he could only get 20
shares at that figure when 80 was
wanted. By o'clock another advance
of 80 cents took place, the stock clos
ing strong at that figure, with many
brokers unable to Ill orders. It was
common talk yesterday that the stock
would 60 to par as soon as the facts
which led to the rise yesterday became
more generally known.
Briefly stated, these are: The award
ing Of the agency of the plantation to
the firm Of Alexander & Baldwin on
written contract for term of years on
the most favorable terms to the plan
tation. The entering into contract
with the Hawaiian Commercial & STU
gar Company by which the latter
agrees to grind all the cane raised on
the Kihei plantation for the first ten
seasons at an agreed price of $12 per
ton. the very best contract ever made
in the Islands for grinding cane. And
finally the general superstition, arising
from the known desires of the heaviest
stockholders Of Kihei plantation, that
a consolidation of the two plantations
is only a matter Of very few years,
or possibly very few months.
From a gentleman who Is very heav-
lily interested In the Kihei plantation
and who Is sufficiently close to the
inside" to obtain reliable information
an Advertiser reporter CLEANED the fol-
lowing:
About the agency. You must re-
member that the stockholders have
never made any contract with their
agents. Under verbal agreement
only have Alexander & Baldwin been
acting up to this time, and 1t Isl
thought by the directors that the time
has now arrived to reduce this to q
written one. am unable to state how
long the contract Is to be made for, as
| think that 10 to be left for the stock
holders to decide on at the meeting al
ready called for the purpose. As to
terms of the contract? You would
hardly have room to print them II !
could get them for yOv, which I can
not. l can say this. however, that they !
are the most favorable ever made by
any plantation with its agents in the
Islands. 1t Is very much on the same
lines as the contract entered into be-
tween the Olaa plantation and Messrs.
T. H. Davies & Co.. only more favor
able to the plantation in many re-
spects.
LAS to the grinding proposition? It |
Is proposed by the Kihei directors to
give contract to the Hawaiian Com
mercial & Sugar Company by which
TIC oBICCb " 6Iiuu TIC C6uC
produced on Kihei at $12 per ton of SUI |
gar produced. This Is by long odds the
most reasonable contract ever made
here. In all the contracts heretofore
made the mill has always had the long
end of 1t, as the saying goes. To GER
tain extent 1t may have In this case.
but there are offsetting advantages. as
you will see. The Hawaiian CONNER
cial people agree to take the Kihei
cane from the end Of the portable track |
(they do not agree to cut ~. transport
II to the mill at their own expense. |
grind 1t and turn 1t into sugar for $12
per ton OF sugar produced. Under this |
arrangement you can see that 1t Is to |
the advantage Of the mill people to
extract the very last ounce Of sugar |
in the cane. for they get paid for the
sugar they extract: they don't buy the |
cane, remember that. 1t IL true. as
one ~ our afternoon papers remarks, |
that II the Kihei output IL 10000 tons
It will cost $4,000 year for milling.
but ! emphatically dispute the asser.
ton that at the end OF Ave years tho |
100000 required for q mill will hare
been expanded and the plantation viii! |
have nothing to show for its outlay
Does interest on the money invested |
count for nothing? Suppose Kihei |
puts up q 100000 mill, does not tnrt
represent $4,000 year or more for
interest alone? Deduct that from the
$40. paid TO Spreckelsville. as well
as the cost Of transportation OF cane
from the feld TO the mill. and the out |
lay for milling the cane will be cut
down 10 about es per ton OF sugar pro-
dueed, Did you ever figure on how
much II costs 10 mill ton Of sugar |
IN the best mill In these islands, No. |
! thought not, Well, have, You viii
Ind the very lowest estimate ~ actual
milling expenses Ia be about et,b9 per |
ION, You viii say, VI course, ,hat that |
allows the mill $3.50 per ton prohi, II |
may slye spreekelsyille that profit, but
y would not siye kihei ~. same,
WIN the capacity ~ the kihei mill
compared With sprsekslsyille, the adj
,anlass II All Ia favor " tho blsgsf
mil Where the his mill nould be- run
~ . psoni tha little one vould be- ran
~ loss' NoS that u gbs sAacl guss'