The Hawaiian gazette., 1899-04-07
N,lllu Plantation ThJvl Upon
lls Market.
TINE nIUlII OFFICERS ELECTED
A Strong List OF Names Lands to
be AmsIRsmsted The
Market
,From Wednesday, DailyD


They are coming thick and fast. Yes
terday another sugar plantation was
organized. This last one is the Nahiku
Sugar Company, Ltd Tho promoters
are Senator A. Hooking, J. r. Morgan
and Harry Armitagc, The capital
stock Is $3.50. 900, divided into 81 500
shares Of $40 each, $4,000 to be paid
up and s675, 900 will be assessable.
The lands are on Maui and about 5000
acres will be taken up. \ portion OF
this will be occupied by hOmesteaders,
who will work 1t on the profit sharing
plan. They have thoroughly agreed to
the plan. 4 quantity of land which
they have planted in seed cane will
form a part OF the plantation.
The land is said to be the equal of
any on the Islands. The water supply
is unfailing and copious. In connec-
tion with the water the only expense
will be the building Of fumes and
bitches, pumps and wells being unnec-
essary.
One of the features Of this plantation
will be that only - per cent of the
capital is TO be called in during this
year. The first assessment is TO be IL
per cent. and an additional ; per cent
will be called in between now and the
end of the year.
Although the books will not be
opened until this morning number OF
applications were received yesterday.
The subscription lists will be open to-
day at the offices of Jas. T. Morgan and
Harry Armitage.
The shareholders Of the Multi plan
tation met yesterday morning at the
Offices of Henry WaterhOuse & Co. The
articles OF incorporation We're read and
adopted, and the following officers
elected:
President. Henry Waterhouse: vice
president. T. VI. Hatch; treasurer,
Henry Waterhouse, Jr.: secretary, X.
w. Shingle; auditor, Thomas May. In
addition to the officers Francis Gay and
Cecil Brown were elected members OF
the Board OF Directors. The president
and vice president were appointed n
committee to draw up bylaws.
Mr.. Waterhouse spoke upon the new
project. He informed the sharehod.
ers that he had secured options on 9
large extent OF valuable lard adjacent
TO Null proper. These will all be
amalgamated into one plantation. Tn,
expenses of running the plantation un.
ill the end of April are TO be paid by
Judge Hart. This years crop Is to be
turned over to the present corporation
and the returns go into the treasury.
In addition to this there Is about
$500 900 available for working pur-
poses This will be used in acquiring
more land, building a new mill, and all
of the latest improvements. Altogeth'
or the prospects are very encOuragin ing
Mr.. Waterhouse will leave for the
plantation by the Mauna Loa. He in
tends to make thorough investiga
ton of the whole property, and com
plete the arrangements for taking NJ
the new land.
The stock market yesterday remained
in the same quiet condition that IL has
been In for the last few days. There
were very few transactions. as every.
body was busy in taking up the Multi
stock for which they had subscribed
The most noticeable jump was in Ki'
hei On the day previous number OF
shares had been sold at about So pre-
MUM. Yesterday, however, it wen,
easily to SIS premium and at O'Clock
an offer OF s22.50 premium was re-
fused. This big raise is due to the fact
that the doubt in regard to the water
supply has been done away with.
A block of Waialua assessable was
sold at 800 net. Both KOna and
Maunalei were offered at par when the
market closed. Kahuku is holding
firm At 5000.
1t Is expected that before the end oI
the week the prices which prevailed
last week will be reached, as there will
be more money on the market.
The shareholders of the Hilo Rail
road Co., Ltd, met yesterday morning
and elected the following officers
President. b. r. Dillingham;; vic'
president. l.. A. Thurston: secretary
A. w. Carter; treasurer, NJ. +. Robin
son: auditor. Henry Waterhouse. Di
rectors, A. S. Hartwell, F. VI. Hatch
Albert Whyte.
The charter as passed by the Govern
ment was accepted. Operations will b,
hppun i'm m lintply