The Pacific commercial advertiser. [volume] (Honolulu, Hawaiian Islands) 1885-1921, 1899-10-25
NOW To new YORK
Hawaiian Sugar Stocks
to the East.
Broker PoIIIiz the Man to Introduce
Hawaiian Securities In the
New York Market.

The feeling in regard TO sugar shares
is steadily improving. says the san
Francisco Financial Letter OF October
IS. Over six thousand shares OF sugar
companies We're sold on the Board dur
ing the week. The reports from the
Islands are very catering. The rains
have been copiOus. indeed the planta-
tions 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 it 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 Re 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 On 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 company year after year. before
accepting its stock, as a high-class Sc
curity. Gradually it GENES to be rec
ognized at It's true and intrinsic value.
This is a slow process. but there Is
ample evidence that it is going on in
regard 10 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 ali
litigation of every kind against the
company.
| 1t is proposed TO list the sugar stocks
Stock Exchange in the near future. We
understand that Mr.. POLITE intends to
go to New York early in November
for this purpose. While this will ad-
vance the price CT the shares, It may
| take much Of the dealing in them out
of the hands OF cur brokers. Sugar
shares have formed q very considerable
amount OF the business done on the
Board. For the year ending September
| 10th, there were 317.379 shares OF sugar
stock sold on our local Exchange. The
local transactions IN shares for the
same period numbered 665. Asa, so that
the sugar shares furnished nearly one
half the business done during the year.
To take these shares 10 New York or
large part Of them, would probably
result in much less business in them
here. But 10 take any considerable
amount of them cut OF our market
| NOi4u ttlN iASt NItII price. mere -
| little doubt. from the tone Of the mar
ket now. that in j short time local In
vestors will regard sugar stocks with
great favor and when that time comes
the few that are here will advance and
probably sell on an eight or nine per
cent basis. instead CT twelve rs at
present.
Hawaiian sold at s6A. Only a few
shares changed hands.
Paauhau was firm 1t 36is.
Onomea sold in small lots at IS and
closed NJ $3.50.
Honokaa was steady 1t 3424.
Hutchinson opened At 3Ol. and cos
ed at 80.
Makaweli was firm. Il opened at
1855 and closed at 4STS.
Hama sold at 1875 q; the close.