The San Francisco call., 1899-02-09
Eight Thousand Shares
Change Hands.
HONOLULU 'CHANGE B0oMs
BIG BUSINESS TRANSACTIONS
IN JANUARY.
Two New Steamships to Be Put on
the Trans-Pacific Run by
the British-Ameri-
can Line.

HONOLULU, Feb. -Four thousand.
eight hundred shares OF. Onomea sugar
Company stock changed hands. recently
at l3712. c. Brewer and Castle & Cooke
were the sellers. Edward Pollitz was
the buyer. The transaction is an evil
dence of the growing demand in San
Francisco for the island sugar stocks
Mr.. Pollitz buys to sell again in San
Francisco and the certificates of stock
will be made out in blocks of suitable
size for that purpose. The transac-
tion involves no change of management
or ownership. Brewer & Co and Castle
& Cooke each owned an equal interest
in the plantation and alternated each
year in the agency, Castle & Cooke be-
ing the agents this year. Each cor
poration sold an equal amount of stock.
The two together will own a controll-
ing interest and will not dispose of
more stock at any price They will
continue to alternate in the agency.
The plantation has always proved
profitable to it's owners. Mr.. Pollitz
came here to look for good sugar stock
to put on the San Francisco market to
meet the demand that has grown up
there and which has been greatly stim-
ulated by the Hawaiian Commercial
deal recently made He began negoti-
ations through; George R. Garter for
this Onomea stock. The deal was COM
pleted before Mr.. Pollitz sailed on the
Coptic.
The sellers are satisfied, with the sale
they have made The buyer feels that
he has a good thing. Except for the,
Hawaiian Commercial DEAL this is the
biggest deal of the kind in island sugar
stocks that has ever been made. 1t
is the biggest deal ever made in the
islands. 1t amounts to $660.000 and is a,
cash transaction.
January has been a record breaking
month on the Stock Exchange BY far
the largest months business 1t has
transacted since it's organization was
done. 1t is probable that it was the
largest months business in island Sc
curities ever done in the islands. The
sales of the month aggregate practi5
calIy perhaps quite $1,000 900. Figured
at the lowest prices obtained the ag-
gregate for which stock sold is 100000.
The bonds sold aggregate $4,000.
With the tremendous activity and de-
yelopment of steamship lines between
the Pacific Coast and the Orient which
the war has precipitated, the traffic be-.
tween the coast and Australia has re-
ceived an impetus. Word now comes
through authentic sources that two
steamships of the Canadian-Australia
line are to be replaced by larger and.
better vessels. These two are the War
rimoo and the Miowera. They are, to-
be replaced by the Rimutaka and the
Tengariro, each vessel of 1000 tons,
modern in model and in equipment
Both belong to the New Zealand Ship
ping Company. They have large re-
frigerator capacity, so that it is evil
dent there is an intention to push the
fresh meat and provision trade Of the
colonies into this new channel.
According to the plans of the British
American line, the Garonne is only the
pioneer of a through line between Sc
attic and Australia in competition with
the Australian Canadian line. The Ga
rome is British vessel and the capi-
tai behind the line is largely British.
Frank Waterhouse is now in England
arranging the finances for the two new
steamships to ply on this route. Though
the capital interested is British, the
steamships will be built in America, or
at least have American registry, so as
to be able to engage in the trade be-
tween Seattle and the islands. which
will in all probability very soon be
coastwise trade.
The United States steamer Iroquois,
formerly the tug Fearless, arrived jan
uary 2S, about eight days from San
Francisco. The vessel is stationed here
for permanent service.