The Hawaiian gazette., 1899-10-27
NOW TO new YORK
Hawaiian Sugar Stocks
to the Eas'.
Broker Polii.z the Man to INTRODUCES
Hawaiian Securities In the
NV York Market.


is steadily improving, says the San
Francisco Financial Letter OF Octobe,
10. Over six thousand shares of sugar
companies were sold on the Board dur.
ing the week. The reports from the
Islands are very flattering. The rains
have been copious, indeed the planta.
tons that depend upon the rainfall are
in better condition now than they have
ever been known to be in before at this
season OF the year. The superin-
tendents say that the weather has been
ideal for growing sugar cane. From
Honokaa 1t Is reported that the sugar
crop coming in now will exceed $4,000
tons. From Paauhau, Onomea and
Hutchinson the reports are exceedingly
encouraging.
From Maui, the island upon which
Hawaiian Is located, come the same
kind OF reports as from Hawaii. The
manager of Hawaiian states that the
physical condition of the plantation is
excellent. and that the estimate OF the
crop will be verified.
AS to our local market, the specula-
tive holders of sugar stocks are dis
appearing, and the shares are passing
into the hands Of people who intend
to hold them as an investment. All in
|dustrial stocks that finally win their
way pass through this stage of develop
ment. Conservative investors must be
satisfied by the success and prosperity
of a company year after year. before
accepting its stock, as high-class Sc
curity. Gradually 1t comes to be rec
ognized at its true and intrinsic value.
This Is a slow process, but there is
ample evidence that it Is going on in
regard to the sugar shares listed on
our market.
The suit brought against Hawaiian
by the former President of the COM
pany has been compromised and dis
missed The company gets the benefit
of all the work done and pays certain
amount Of money. This removes all
litigation Of every kind against the
company.
1t Is proposed to list the sugar stocks
now on our market on the New York
Stock Exchange in the near future. We
understand that Mr.. POLITE intends TO
90 to New York early in November
for this purpose. While this will ad-
vance the price Of the shares. 1t may
take much Of the dealing in them out
of the hands Of our brokers. Sugar
shares have formed a very considerable
amount of the business done on the
Board. For the year ending September
10Th, there were 3l7,379 shares of sugar
stock sold on our local Exchange. The
local transactions in shares for the
same period numbered 665. 454, so that
the sugar shares furnished nearly one
half the business done during the year.
To take these shares to New York or
n large part q them, would probably
result In much less business In them
here. But to take any considerable
amount OF them out OF our market
would advance their price. There is
little doubt. from the tone OF the mar
ket now. that In Q short time local In
yestors Will regard sugar stocks with
great favor and when that time comes
he few that are here will advance and
probably sell ON an eight or nine per
cent basis, instead Of twelve as at
present,
Hawaiian sold at e6A, Only few
shares changed hands,
Paauhau was firm NJ 36s,
onomea sold IN small lots Al ~ aud
'losed ~ ssA
Honokaa Was steady AZ St4.,
Hutchinson opeDed ~ sos and elos'
I'd ~ 30,
Mahavsl Mas nrm II opened II
lkAs and elossd ~ ts'.
lsaDs sold ~ is's ~ tbs eloss,