The Pacific commercial advertiser. [volume] (Honolulu, Hawaiian Islands) 1885-1921, 1900-05-01
OLAA SUGAR
COMPANY
Annual Meeting is Held
Yesterday.
REPORT FOR FISCAL YEAR
Old Board is Reelected and a Pros
porous Condition of A.
fairs Shown.

The adjourned annual meeting of the
Olaa Sugar Company was held yester-
day morning at the chamber of COM
merce, holders of 1873, 741 shares of stock
being present in person or represented
by proxy.
The meeting was presided over by the
president, Lorrin A. Thurston.
The plantation fiscal year ends De-
cember 81, and reports presented were
up to that date. The regular meeting
was not held in January, owing to the
plague.
The treasul er, Jas. B. Castle, present
ed his report. The assessments already
levied would amount to 35 per cent or
81 per share, by July 1st next In order
TO meet the payments on the mill which
had been contracted for, it was esti-
mated that assessments amounting to
80 per cent, or Sc share, would be re-
CURED between the LIST of August and
! the LIST of January next.
The statement of expenditures show
ed: Expended on crop of 1902, $1S3,-
l14.49; stock expenditures. 1924 $50. 80.
Among the larger items were: Build
ings, SSS,434; live stock, $47,265; first
| payment on mill machinery, 100000.
Managers Report.
Manager McStocker was not present,
but his report was presented and dis
tributed in printed form. The following
facts are CLEANED from the report:
IT. hnCt 1.
of June, 1899, at which time there were
10 acres of cane planted, and so laborers
and horses at work. There were on
January 1st, 1900, TIC acres of cane
planted, and 1929 laborers employed
besides SIC laborers employed by out
side contractors. Live stock consists of
i02 mules.
The varieties of cane planted are: La
haina, 4S7 acres; Yellow Bamboo, 81
acres; Rose Bamboo, 1872 acres; Yellow
Caledonia, So acres.
In addition there were 1886 acres
cleared and plowed. 1,S17 acres cleared
ready to pillow, and 800 acres partly
cleared.
Real Estate.
The promoters had closed options and
decided to the company 13,OOO.S5 acres
in fee simple, and 4,032 acres on a 40
year lease. Options were still outstand-
ing on 1869 acres, which was being
turned over as fast as the options came
due. The company had bought 20 acres
and leased 200 acres On its own account.
The total area of the plantation is
therefore 1S,S72.25 acres. An additional
500 acres was expected to be developed
on the leased land
There have been issued 1O7 1929 shares
of paid up stock in exchange for land.
Hilo Railroad.
The Hilo Railroad was under contract
to reach Olaa by November, but would
| complete its track much sooner. The
/ grading to the mill site was already
/ completed. When completed it would
/ reduce the transportation cost by two
I thirds
/ ILDINGS.-Buildngs for / 800 la
, borers were completed, besides stables
/ for 400 live stock. No further buildings
would be required in connection with
the first crop, except in connection with
| the mill.
First Crop.
| The first crop would be 1000 acres of
plant cane; 5000 on the lower "Keaau"
/ anu l,uUu OH Tue upper Oldd ldHuS.
The Puma Sugar Company had con-
/ tracted to have their first crop of about
800 acres ground at Olaa. Other outside
total first crop area to 5000 acres.
! From the appearance of the cane and
the Judgment of experts, the first crop
1 is estimated at a minimum of tons to
/ the acre, or $4,000 tons in ALL
/ Rose bamboo cane Is months old. cut
at 1000 feet elevation stripped II to Is
feet long. Yellow bamboo months old,
at an elevation of 1900 feet, stripped
/ Z feet long. Cane now growing in fifty
different localities in Keaau and Olaa
presents strong, healthy growth
The grinding of the first crop will be:
gin in December, 1901. Without count
/ ing profit from cane planted by outside
planters, the crop should If prices are
/ the same as during the past year, give
! a gross return of s1,45O.0O0. If the crop
should go six tons to the acre the crop
should yield $4,000.
Plantation Transpol tation.
/ The main transportation of cane to
/ the mill would be by flume. About 900
acres lying below the mill will be reach
ed by railroad. Railroads will be laid
to the amount of 10 miles for the pres
ent.
| Reservoirs with capacity
of 9,500,000 gallons have been construct
ed. These Will be increased to a capaci-
ty of 50,000,000 gallons
Water has been developed by tunnel
ling in the mountains at an elevation
of 1900 to 1000 feet, and a flow of s.
100000 in "a hours obtained in this the
! dryest season known for many years