The Pacific commercial advertiser. [volume] (Honolulu, Hawaiian Islands) 1885-1921, 1899-04-05
STILL ANOTHER
Nahiku Plantation Thrown Upon
the Market.
The MULTI OFFICERS ELECTED
A Strong List Of Names-LandS to
be AmaIgamated-
Market.

They are coming thick and fast. Yes
terday another sugar plantation was
organized. This last one is the lIahiku
Sugar Company, Ltd. The promoters
are Senator A. Hooking, J. F. Morgan
and Harry Armitage. The capital
stock is S750,O00, divided into 1880
shares of $40 each, $4,000 to be paid
up and $675, 900 will be assessable.
The lands are on Maui and about 5000
acres will be taken up. A portion OF
this will be occupied by homesteaders,
who will work it on the profit sharing
plan. They have thoroughly agreed to
the plan. A 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 cannec-
ton with the water the only expense
will be the building of fumes and
bitches, pumps and wells being unnec-
essary.
II
will be that only 10 per cent of the
capital is to be called in during this
v2ar The first assessment Is tS5%De 10
per cent, and an additional 5 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 F. 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 were read and
adopted, and the following officers
elected:
President, Henry Waterhouse; vice
president, F. NJ. Hatch: treasurer,
Henry Waterhouse, Jr.; secretary, r.
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 a
committee to draw up bylaws.
Mr.. Waterhouse spoke upon the new
project. He informed the sharehold-
ers that he had secured options on a
large extent of valuable land adjacent
to Multi proper. These will all be
amalgamated into one plantation. The
expenses of running the plantation un-
til 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
$S00,000 available for working pur
poses. This will be used in acquiring
more land, building a new mill, and all
of the latest improvements. Altogeth-
er the prospects are very encouraging.
Mr.. Waterhouse will leave for the
plantation by the Mauna Loa. He in
tends to make a thorough investiga
ton of the whole property, and COM
plete the arrangements for taking up
the new land.
The stock market yesterday remained
in the same quiet condition that it 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 XII
hei. On the day previous a number Of
shares had been sold at about So pre-
MUM. Yesterday, however, it went
easily to SIS premium and at o'clock
an offer of $225O 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 S100 net. Both Kona and
Maunalei were offered at par when, the
market closed. Kahuku is holding
firm at 5000
1t is expected tha- before the end OF