The Pacific commercial advertiser. [volume] (Honolulu, Hawaiian Islands) 1885-1921, 1899-09-13
ORPHEUM PLANS
Prospectus Of the Amended Ar
tiCleS Of Association.
OBJECTS AND AIMS SOUGHT FOR
FfrSt-ClaSS Cafe to be Run in Cor
junction With the Thearer
and Hotel.

"
Company, Limited, has met during the
two months of it's organization, and
the encouragement it has received from
the growing popularity of the theater,
have resulted in a plan for enlarging
the scope Of it's business, by which it
takes over the title and control of the
theater premises and the adjoining
'Orpheum Block building on Fort
street and undertakes the conduct of
a hotel, cafe and bar in conjunction
with the theater.
A statement made of the theater
| business at the end of the first six
weeks of the company's existence,
showed net profit of 1922, which, had
| there been no rent to pay, would rep
| resent monthly net earning of over
| $40, or $4,000 per year-a profit of
| 12O per cent on the original capitali-
| zation of $500.
| The Orpheum Hotel during the same
| time has cleared about $3.50 per month,
which the absence of rent would in
crease to $475, making an annual profit
of $1,000.
The entire property purchased yields
a rental Of $500 per year, which
amount is now saved to the company.
1
ty is $57, 800, and that of the Mr..
Klemme's interest in the hotel busi-
ness, including $500 worth of new
furniture and improvements, the lease
and good will, $4,000.
| To enable the company to carry out
the proposed undertaking, application
| has been made to the Minister of the
| Interior for leave to amend the Origi-
nal articles of association so as TO in
| crease the capitalization to 100000,
| divided into 5000 shares at the par
value of $40 each. This means an ad
| ditiOn of $92, 800, of which there will
be $42 500 in paid up stock, and $4,000
| in assessable stock-one assessment of
| 25 per cent to be levied at the outset.
| Accordingly, the company will re-
| ceive: Assessments upon orig
| inal assessable stock, which
| is to be made full paid up. s. 4,500 90
Paid up stock to be placed
| on market t................ 42.5OO OO
| Assessment on aSSeSSable
| stock-25 per cent ....... 12,50O 90
Amount to be borrowed on
| 10-year mortgage at 6 per
| cent $1,000 90
| lOtal So4 ,oOU w
| And will pay out:
| For real prop
erty ........... $57 800 90
For hotel fur
nlture, etc. 10000 90
For contemplated
| improvements $500 90 5000 90
Treasury balance as work
| ing capital ............ SO, 500 90
At the present rate of business, with
| out considering any possible increase
| as result of improved accommoda
| tions and superior attractions, the
| annual profits will be:
| From the theater ....$ 5000 90
| Rental from two storerooms 1,2O0 90
| IOldl Sl0,9UU w
| Less interest on $4,000 at
| per cent ...-...........$ 1,5OO 90
| Net profits ..............S14 S14, 400 90
| In the belief that large, firSt-claSS
cafe, to be run in connection with the
| theater and hotel, would pay, it is pro-
posed to utilize three of the stOreroomS
in the Orpheum Block for cafe, billiard
room and bar purposes (proyided a
| liquor license may be prOcured), and
to lease the two remaining StOreroOms
as now. The revenue expected to arise
from these newly created sources will
| more than double the percentage of
profit based on the foregoing estimates.