The Pacific commercial advertiser. [volume] (Honolulu, Hawaiian Islands) 1885-1921, 1899-06-29
THAT BEAR PLAN
Manipulators Fail to Keep
Kihei at Bed Rock.
Course of the Market-Ra Aid on Oiaa
Hitting Waialua-Assessab'es-
About Oahu.

1T is extremely doubtful if any more
Kihei is sold at SO. But il is the ex-
pectation of the bear hui to buy today
at SO and even less.
There will be interruption today Of
one of the boldest manipulations ever
undertaken on any stock market and
the first one of magnitude so far und- |
ertaken ere'-Yesterday's Advertis-
er.
The Advertisers bear scheme expose
was the talk of the street and the talk
of the town. All readers, and the deal
ers who we're in the dark before saw at
once how easily and neatly Kihei had
been hammered down with 600 shares
properly placed and offered in the
right way. There was search for the
parties to the transaction OF lVOV
shares at par-s10-but neither seller
nor buyers were inclined TO publish
their business. Kihei closed at sl2 bid.
This was the ruling price. though thir-
ty shares were sold at S11.15.
| The raid on Olaa continues, with
buyers wary. 1t closed at 81 bid and
S125 asked. The ruling price was
S1121a. The face value is 81. The lat
est report on Olaa is that a quantity of
the assessable has been sent from Hilo
to be sacrificed. This particular stock
was taken in exchange for land.
The security hardest hit yesterday
was Waialua assessable. 1t is 30 per
cent paid and when only 20 per cent
paid sold as high as 1920 a share. ii
closed yesterday at $1,000 bid and
$925O asked. with downward tend
ency.
1t is figured that owners of assess
able stocks are liable for in the neigh
borhood of 100000 in cash during
the coming ninety days The conser
Natives say that in the course OF this
period there will certainly be some
bargain days.
A vital question on asSesSables Ia
been raised. 1t is this: Is the orig
inal subscriber liable for assessment
when he has sold the stock, but whel
there is no transfer on the books o
the company? There is a large amour
of stock afioat in this condition. Som
of the subscribers say the subscribe
is liable; others that the holder is liza
l. ble-that liability follows the certif
= cate instead of attaching to the oris
inal buyer. There is no end OF ner'
business on the subject. Difference
are imminent.
In the article of yesterday on ii
bear manipulation there was refe
> ence to Oahu, which has been que
toned. and which should be explain
ed. The stock was included in the ii
of securities that had been disturb'
by the speculations, forced sales, e'
IT remains firm at about the price
a fortnight ago., was the lanSua
used. This is understood and acceI
Il ed by those who have followed .
stock, and it has tremendous I'
lowing. Review: Oahu was so
$500 and 1926 when it was learned
n, the one day, that it was being Doug
UE for coast people, and that there
70 he an increase of capital, with
stock dividend. This caused a hurl
One broker is known to have had
order TO buy regardless. The sto
II went to 1915 at single session OF I
Y Honolulu Exchange. The boom "
j. ON It reached S340, but only fC
shares were sold at that figure. BloC
NOT large-changed hands at IS
Considerable was sold at $3.50. Fr'
This last quotation there was a grad
return. without heavy dealing. TO
rate that had prevailed before rece
of the news from the coast and 1T
the directorate here. The closing y
- terday was $500 bid and s307.50 ask
which the careful ones consider
much. Thirty-two shares were
Yesterday through brokers at S3V4.
..The fact isl said solid man
terday. that money is getting tis
The asessables will go still lower.
gilt-edged ones will not drop In sA
10 patty, but some Of them will go DC
IL when holders of gilt-edged and ass'
able are forced to sacrifice the est
ished securities to get money TO n