The Hawaiian gazette., 1899-06-30
THAT Bear PLAN
Manipulators Fail to Keep
Kihei at Bed Rock.
Course Of the N arket-Raid on Oiaa.
Hitting NEUTRALITY-SUSPICIOUS.
About Oahu.

1T is extremely doubtful If any more
Kihei is sold at $40. But 1t is the eX-
pectation of the bear hui to buy today
at $40 and even less.
There will be interruption today of
one of the boldest manipulations ever
undertaken on any stock market and
the first one of magnitude so far und
ertaken here Yesterday Advertis-
err.
The Advertisers bear scheme expose
was the talk of the street and the talk
of the town. All readers, and the deal
ers who were in the dark before saw at
once how easily and neatly Kihei had
been hammered down with 600 shares
properly placed and offered in the
right way. There was search for the
parties to the transaction of 1000
shares at par-$l0-but neither seller
nor buyers were inclined to publish
, their business. Kihei closed at $l2 bid.
This was the ruling price, though thir-
ty shares were sold at $11.75.
| The raid on Olaa continues, with
buyers wary. 1t closed at 81 bid and
| $l.25 asked. The ruling price was
I$1.12R. The face value is 81. The lat
est report on Olaa Is that a quantity of
, The assessable has been sent from Hilo
to be sacrificed. This particular stock
was taken in exchange for land.
The security hardest hit yesterday
was Waialua assessable. II is 80 per
cent paid and when only 20 per cent
a ...1I toll,
closed yesterday at S90.50 bid and
$3.50 asked, with n downward tend
ency.
| 1t is figured that owners of assess
able stocks are liable for in the neigh
borhood of Sl,000,O00 in cash during
the coming ninety days. The conser-
vatives say that in the course of this
period there will certainly be some
bargain days.
A vital question on assessables has
been raised. II is this: Is the orig
inal subscriber liable for assessments
when he mas sold the stock, but when
there is no transfer on the books of
the company? There Is a large amount
of stock afloat In this condition. Some
of the subscribers say the subscriber
ble-that liability follows the certifi-
cate instead of attaching to the orig
inal buyer. There is no end of nery-
BUSINESS on the subject. Differences
are imminent.
In the article of yesterday on the
bear manipulation there was a refer
ence to Oahu, which has been ques-
toned, and which should be explain
ed. The stock was included in the list
of securities that had been disturbed
by the speculations, forced sales, etc.
1T remains firm at about the price OF
fortnight ago." was the language
used. This Is understood and accept
ed by those who have followed the
stock, and 1t has tremendous fol-
lowing. Review: Oahu was $3.50
1920 and 1926 when It was learned ON
the one day. that II was being bought
for coast people, and that there was
10 be an increase of capital, with q
stock dividend. This caused u Hurry
One broker is known 20 have had an
order 10 buy regardless. The stock
went to 1915 at single session OF the
Honolulu Exchange, The boom was
on II reached $3.50, but only -four
! shares were sold AT that figure, Block'
not large-changed hands At $685.
/ Considerable was sold AT $3.50, From
this last quotation there was gradua
return, without heavy dealing, 90 IA,
rate that had prevailed before receip
| Of the news from the coast ana from
| the directorate here Tho closing yes
terday wac 5000 bid ana 1907 80 asked
which the careful ones consider tp
! much Thlrly-tWO shares were slll
! yesterday Through brokers az S3pl,
THE fact Co., sail q solid man yos
irrday, Ihli money Do getting ilRhl
Tho asrssaulfs win go atlll lower IN
E|.lrrdFri uurs VIII not drpp in 6ym
, pthy hu some uf them VIII Eu dos
Nh.H hYldrr ~ FIli-eigod aHa lssu
aUlo u forced io HlrrIhrr lhr rsial
lIahri snruIIllu NO Brl money 'l Wu
sanasmruif