The Hawaiian gazette. [volume] (Honolulu [Oahu, Hawaii]) 1865-1918, 1899-05-30
General Desire 10 Secure a New
Sugar Stock.
An ELEVATOR KEPT BUSY
Applicants In Line or the Fourth
Fioo'-Checks and Cash-inves.
tors and Spectators In Field.
lFrom Saturdays Daily.)

There were gentlemen in the know"
who were willing to wager last even
ing that the stock OF the McBryde
Sugar Company, Promo.e Dilling-
hams latest. would be subscribed twen-
ty times over. There was meant the
block Of assessable at which the gen
eral public would have a chance. Just
how much this will total is OF known.
borhood Of half a million. It may be
much more. OF course all the paid up
stock was reserved for use by the COM
pany and the directors and officers
were made allotments OF assessable 1t
is believed this has been done in all
the fotations here. There has been
some street criticism Of Mr.. Dilling-
ham, but he does not seem to mind it.
He says he has always kept faith with
the public and will continue to do SO
at any cost. Talk was heard in various
quarters of concessions to brokers, but
these alleged transactions vanished
when followed. 1t seems to be true
that considerable quantity Of the as
sessable stock has reached people who
will hold 1t for advance, but there is
nothing irregular in these dealings. 1t
is known that Mr.. Dillingham; has been
approached many times with proposals
that would return him very handsome
| ly, but that in every case he has de-
clared his determination of adhering
to his plans as outlined in the begin
ming. Such assessable stock as has
gotten out in advance has been turned
over to fulfill some Of the agreements
necessary in a great deal involving SO
much money and so many people and
Interests.
| The rush for McBryde was simply
something unprecedented. 1t was more
than the same affairs for either Kihei
or O!aa. The Office IS in the fourth
floor of the Judd building and is in
charge of Messrs. Paxton and White.
These gentlemen were behind a tenn
porary counter and stretching away
from them was line of people to the
Elevator. The lift did the business of
its career yesterday and will have a
big run today. Mr. Paxton received
the signatures, the money and checks
land Mr.. White made out the receipts.
About $50 persons subscribed during
the day. The hours were a. m. to s
p. m. and will be the same today
Messrs. Paxton and White were quick
at their work, but not minute were
Ithey without business at hand. Pay
ments were in check, gold and silver.
There was great pile of cash.
The proportion of solid people after
the stock was large. The speculative
element was we'll represented. Some
individuals one would naturally place
in the investor class were apparently
up for a flyer while others considered
dealers acted as though they were 60
ing into the company to stay. The ap-
plicants figured and figured on the
probable apportionment. but were I'M
able to reach any solution that was at
all satisfying. A lot of the people
came with all the money they could
raise and with no thought Of paying
the second assessment. 1t cost 81 a
share to get in yesterday. The hope of
the one who CANDLES is to get back
about 81, or perhaps few dollars
more, for the 81. The assessable was
quoted on the street yesterday all the
way from 81 to s. premium. There
| was not much of 1t for sale. There
will not be much OF 1t on the market
till after the apportionment Is made
and quotation established. The stock
will be listed by the brokers without
delay. Some of yesterdays applicants
were rather playing with fire. They
had strained themselves to get cash for
representation during the few days be-
tween the time of application and the
time when negotiation, with the tenn
perature rising every minute, will be
the order. Resources are mighty
mysterious" was the remark of one OF
the conservatives as he saw clerk
whose employer could not arrange to
take stock put down for a goodly
bunch" The indications are that
there will be frantic times on the street
when the ball of dealing in McBryde