The Pacific commercial advertiser. [volume] (Honolulu, Hawaiian Islands) 1885-1921, 1900-06-29
Capital RAISED TO
Five Million
Dollars.
a.a.-=-.a-.. -.-.
De TAILS ARRANGED
Nos, Of Stock Already Subscribed
Fer and Only Small Amount
For Market.

20 NcHolu Sugar Plane alton has
.t..1 ~ exist II is now called b1
HoH..uIu itntation Company. \ dsIl
b. ..at been cnestod by which the MIN
ar.1 has changed HANDS and the capl.
a.u.0u Increased from Sgm.OJo toegi .
pU9
Tho change has been quietly made
fVurh she agency OF Henry Wator.
.oufs q Go. ord others In the city a,
saHgrton with Mr.. ~ Ohlandt OF san
Francisco. ms is one % tho most i'm.
rf."t plantation moves that has taken
sa,o for some time and Will nut tho
plantation On a basis from which IN.
5rst possible benefits will accrue. n "a
nl
ST. N Oulandt, head Of the firm Of
aHIHdt a co, Of san Francisco. who
yurrsd TO the Coast on the last steam.
r after IIs annual tour 81 the islands
Hfa exceedingly pleased with the
r.Hgorous condition Of the sugar indus
.fy here. lie stated that IIawairs de-
u0lmcnt during the past two years has
tson remarkable. and he firmly believes
UIt another three years will see Hawaii
ending to market In the neighborhood
% 10000 tons OF sugar. As TO prices.
ho would not be at all surprised II sugar
commanded 500 per ton this coming
Toar.
Tho hrm Of Ohiandt a Co. Is largely
Interested In several sugar estates To-
.iiod on HAWAII and Oahu. including
uakalau. raauhau. Hutchinson. wal
mnnalo and Honolulu Sugar Company.
The property In which they are most
.onccrncd ~ that % the Honolulu sugar
Company. located Just short distance
outside tho limits Of Honolulu. on the
Eva side Of Halawa mill This planta-
uou was started In iS9S under the man
segment % James A. Low. and has been
developed almost entirely by foreign can.
tai For this reason very little has been
snown In Honolulu financial circles about
ne inside affairs OF this corporation.
While here. SIR. Ohlandt gave out some
Interesting Information concerning the
f'cent action of the directorate Of the
honolulu Sugar Company In San Fran
cisco. which nus resulted In the transfer
o. all the property owned Ia the name Of
ho Honolulu Sugar Company. w..a a
capitalization OF 100000. TO the Honolulu
Plantation Company. with a capita. III
uon Of E.ooo.Uoo. The facts Of the trans
Pr are substantially as follows:
The company was organized with a
capital OF 5000. divided into 5000 shares
% ne par value OF 500 each. out OF this
stock the company paid 1900 shares.
Equivalent 90 $4,000. and 5000 cash for
W' procurement OF leases, which are
costly psi4 up for a period Of fifteen
Years. The remaining $4,000 had practi-
u.y al been spent In the development
% me company's properties. by the end
% september Of last year.
The original Intention Of the promoters
Tus 90 establish plantation which would
Rave an annual yield Of 1900 tons. but IN
ne requirement Of new lands IL II con-
tdontiy expected that this will enable
The plantation to yield In the course OF
hroe years, In the neighborhood OF 25.-
20 tons annually. This enlargement OF
ne plantation has aecessitated increased
facilities In the way Of mills. pumps and
railroads., ana will require at least three.
luarters 81 n million dollars more 90 car.
~ the plantation over TO its producing
stage.
The problem confronting the directors
vas either % levy assessments or GO form
a new company with a capital stock suf
fcI'ntly large. so that the property could
Do sold 20 such new company for y sum.
Client amount On stock wniCh. when event
unlly distributed % tho original stock.
loiicrs would ave them what might IL
Seemed 90 be fair value Of their pres.
one hold ngn. 10 was planned at the SAND
Time that this would leave sufficient
stock in the treasury OF the new com.
t1ny. aa n working capital. which. wher
cold would raise enough money TO car.
fF the plantation along until the tim,
when q would be able to produce an In.
come Tor itself
The hitter policy was pursued u wa,
Seeded after 10 thorough study OF tls
value OF The Company's property. that The
NI.NIrEH and actual Investments mad,
were easily worth NOOOOo0 or more. n
Nlr determined that the new company
should uo formed on the basis Of 5000. on
ui rIutul stock. and the old corporation
VS. given Nnoo shares 90 the par value
or 90 pCr snare or total Of 100000 pr
Hu.h. This left In the treasury of The
new corporation 1900 shares of stock o.
'o total par value % 100000.
or thp 10000 shares in the treasury
M.rr have already been placed some ~
shares the purchasers being mostly
SIN Francisco and Honolulu investors
Ihr remain rE boUo shares Will In al
probability uc placed IN the Islands. Th'
NfHfrrre firm Of Henry Watcrhouso a
.1. at The present time is negotiating ~
.'..r disposal these shares have beef
t.Hrrd on tho market az $50 per share.
Tho new corporation has not yet beef
I.tri on the Honolulu Stock Exchange
lut u III Understood that u will bo soon
r ur later.
The uonoiuiu plantation began Will
f'1 acre. of land I'M the District ~ EVA
u'st % which was suitable for can
cultivation. The estate nov embraces u
Hr neIrhbortood % Sn00 acres.
no .H enid that an abundant supply %
water has been developed. Two hll
pumping plants having an aggregate ca
l1..tr ~ 5000 ooo gallons daily are nov
'n operation. and another plant r 1000"
gallons capacity WIN be running YER
hnrUv Three more plants have beci
olrred with IN aggregate capacity o.
F"no ono SALONS. making n total Of ".
n0 gallons % water daily alre7d'
slammed FOR. A system % reservoir
'oos me upper portion Of the land pro