The Hawaiian gazette., 1899-03-24
Another Purchase Of Sugar Stock
for The City,"
1000 SHARES or HonOkAA
sold BY Nv. Waterh use a Co., to
Edward pollitz some Views OF
tho Visiting Broker.
oFrom Wednesday DaIyJ

MI fOIllZ dipped into a stock yes |
erday Il was his first buy this trip
&c employed Henry Waterhouse q Co.
Is his brokers That firm delivered 10
Mr. POLITE 1000 OF the shares OF Homo
Iaa Sugar Company. For this mcr-
,handise Mr.. POLITE gave his certified
'heck on the local bank of Claus
sprcckels a Co. for the sum of $780,
200. This was the second really heavy
stock transaction OF the year. The
first big one OF 1899 MAS when Mr.
POLITE secured As per cent Of the stock
Df the Onomea plantation, some seven
weeks ago Right after that Mr. Pol
litz purchased in San Francisco half of
the stock of Paauhau and has since Sc
cured control 1t was Mr.. Pollitz who,
in September Of last year. delivered TO
capitalists of Honolulu the majority OF
the stock Of Hawaiian Commercial and
Sugar Company. Including the trans
action of yesterday, Mr.. Pollitz has in
vested in these Islands for his clients
about 100000. He will be in town
until the 3lst inst In a few months
he will be back here again. Then,
after the next trip he will take some
Hawaiian securities east. At San
Francisco at present Mr. POLITE and
his partner are daily in receipt Of in
qu!ries concerning Hawaiian corpora
ton interests. Hundreds of letters
come from the Fast and many from
Europe. What Mr.. POLITE is doing
here shows his faith In Hawaii and in
sugar He says that there is any
amount of money in the United States
that will readily 10 offered for sugar
To the mind of Mr.. Polli.z the public
Iconyenlences for the transaction %
business have largely enriched thu
United States. Take the case of .
country merchant" said he last even
ing In the old days he might have u
carry stock Of $4,000, now tn,
means Of communicaI ion and Of ship
ment are such that he needs not NOR
than $4,000 Of stock. The great pro
ducing estates have made many PEG
pie so wealthy that they do not know
what to do with the interest payment
they receive. The securities have beel
taken up till a very low rae Of interes
is acceptable. Any good investmen
bond or stock Is eagerly sought. Euro
pCan securities are now held in tn
United States. Nearly all of our Owl
securities have been brought bac
from across the Atlantic. New York |
today Just as much financial ccnte
as London.
The history OF Hawaiian suga
stocks on the San Francisco market !
not uninteresting. The first plantatio
listed there was Hawaiian Commercial
which had It's ups and down Till Sep
TENDER OF last year, when the contrC
passed to Island people. The capita
Of the company Is 10000, 900 and 81
Is paid in on the shares now selling o
$Sl.25 and at one time some years ag
a drug on the market at 10 cents.
Hutch .nson plantation, on Hawai-
was listed at San Francisco in 1SS!
It's capital Is $2,500,O00 with shares d
$50. 1t paid 80 cents and then 40 cent
a month dividends on each share Il
the Mckinley bill removed the duty o
sugars going into the United state
and gave bounty on American grow
sugar. This was extremely hurtfu
Hutchinson suspended dividends Il
after the passage Of the Mills bill. The
came the Dingley bill, increasing I'll
, I1ttN al Ia. a ~.
to $32.70 "A ton. The prosperity o. III
cane industry here really dates frol
the passage of the Dingley bill, for
= was on that occasion that Republican
and Democrats alike went on record ;
favoring duty on sugar. OF course a
this time the Islands had been prOtoc
ed TO more or less degree by the Re
: iprocity Treaty. Five years ago Hutcl
( inson plantation again paid dividend
q and has kept II up. At first II was
I cents a month a share and T. up to
, cents In May OF last year. Thr,
4 months ago the directors, on the r.
: quest OF the stockholders, reissued Il
, stock in 100000 shares Of s25 each. b
a fore the division into two for one, Il
: stock was selling at SOS. 1t Is no
SSiiiHS ~ aDoul Sof anu lHt uINli'H'
a are 20 cents a month share.
THE stock OF the Hama, Maui. plal
q tat,on, was listed at San Francisco.
A has $4,000 shares OF the par value
: 800 each. They are selling for abo
, SIG, but the directors have promis'
a that there will soon be dividends.
Il II think that during all OF this pc
Tod, say seventeen years, but two 9th
plantations Were listed at San Fra
cisco. These were Heeia and Hal ala
: They were withdrawn In time. The
was no patronage In fact there W
very little interest in sugar stocks I
. 1t became settled that Hawaii was
n be a part Of the United States. Now |
s investment here is regarded safe as
= investment In Connecticut, with I
certainty that It Is much better thi
almost anything that can be found
q the whole OF the United States, The
n Is per cent money In the Unit
Q States. This Is In the East. In I
J. West investors having millions Won
:, be pleased TO got 3h per cent. Sto