The Pacific commercial advertiser. [volume] (Honolulu, Hawaiian Islands) 1885-1921, 1900-03-30
REPORT.
The Oahu Railway and
Land Co.
4 Prosperous Year Improvements
Made - Increase in Business,
Passengers and Freight.

The ninth report Of the o. r. & L.
Co. was submitted 70 the shareholders
day before yesterday by George P.
Denison. acting general manager. Il Is
l0r the year ending December 81. 1899.
The net earnings for the year were
S2I2. 23S.sO. being a net gain OF II per
cent on the stock outstanding. out of
the earnings a dividend OF per cent,
or $3.50. was paid September 1, 1899.
The net balance Of earnings at present
for 1898 and 1893 is 1881 .220.09. The
increase in the freight carrying was
very great, being over So per cent
greater than 1898. The passenger
traffic in 1899 was much greater than
the previous year. 236.4S2 people being
carried during 1899 The average
earning per mile Of road operated was
s.. 45S.72 as against Sass for 1898.
The affairs Of the ranch department
still have the benefit of the guidance
OF Mr.. H. NJ Won Holt, whose ability
has been so amply demonstrated in the
past management OF the ranches. The
net receipts of ranch department were
S27. 9S2.20 and the rents collected from
land were S422419. making a total net
gain from land used for ranch purposes
and sugar cultivation Of SIO,2O6.69,
which is an increase over similar earn
ings for the preceding year OF ST.
59S.7S. The prospective increase IN
business all along the line is predicat-
ed on the probable increase in the out
put Of sugar along the route anu other
known conditions.
New engines have been received and
erected, new machinery added TO the
shop equipment. and the electric light
plant formerly at Remond Grove is
now installed at the machine shop. In
addition to keeping all the rolling stock
in repair the following new work has
been turned out by the car shops:
rive secOnd-class coaches. 80 Bottom
box cars, 20 Bottom gondola fiat cars. 20
lotion fiat cars, 2 boarding house cars
(for work train. 1 pile driver ear. 4
section push cars. All the lumber is
framed ready to erect twenty 3O-ton
box and twenty Bottom gOndola fiat
cars. Five first-class coaches are ready
for painting. This lot of fOrty-five
cars would have been finished by De-
cember 31st If the ironwork which was
ordered last May had arrived when il
should.
The dredging now being done in the
harbor near the railroad wharf il is
expected will be finished in about FIVE
months. Since the contract was let
for the dredging, which included an
area about 400 feet square adjoining
the harbor line and the mud bank be-
tween the harbor line and deep water,
an agreement between the Hawaiian
| Government and the company has
/ been reached and sent to the United
States Government at Washington for
approval. by which it is proposed to
dredge out an area about 700x1200 feet
between Queen street and the sugar
warehouse. This will give room for
| 200 feet of wharf frontage, 300 feet
of this to be built and owned by the
company, the balance to be built and
owned by the Hawaiian Government.
| By this agreement your company will
receive in exchange for portion OF its
| harbor, Kawa Pond, which has been
filled, and a good portion of Kuwili
! Pond adjoining the present freight
yard.
There has been expended during the
| past year for new equipment in rolling
stock, as hereinafter described, $1O7,-
294.3l. This comprises the building of
l2O cars for passengers and freight, all
OF which are nearly completed, and
which it is thought will be sufficient 10
handle the traffic for some time to
come. The capital expenditure for 1900
will be comparatively light, save in the
matter OF much needed wharf improve
ments now in progress.
The reserve fund of the
company had a balance
Dec. 81, 1898. of ........ .$446. OSO 90
Increased during 1899 as
follows:-
25 Shares Hawaiian Fruit
& Plant. Co. stock IS $500 90
339 Shares Oahu Assessable
stock $50 per cent? e.. 27.120 90
3S9 Shares Oahu Assessable
stock as per cent? Cd
issue ................. 25,425 90
339 Shares Oahu Paid Up
Stock ................ $4,000 90
s535.OZ5 90
Decreased during 1899. as
fOllows:-
Sale Of bonds ..............S 80. 400 90