The Hawaiian star. [volume] (Honolulu [Oahu]) 1893-1912, 1901-09-11
VALUATION OF STEAMERS
THE APPRAISERS FINISH THEIR
REPORT.
Vessels of the Wilder and Inter-Island
Companies Are Said to be Worth
About S55O,OOO.

The board of appraisers appointed to
pass upon the property of the Inter-Isl-
and and Wilder steamship companies
has completed it's work and handed In
its report. In round figures, the ves-
sells of the two companies have been
appraised at $550,0 Just how this ap-
praisment will be received by the stock
holders Is not known as It is just about
half of the joint capitalization of the
two concerns.
The report of the valuations OF the
holdings of the two companies was
made in pursuance of the desire of the
directors to have a conference with a
view of consolidating the two COM
panies and conduct them under one
management and in other ways effect
a more economical system of manage
ment.
The Wilder Company is capitalized at
$500,000 and the Inter-Island at 5000. 900.
The discrepancy between the capital
ization, all of which is paid up, and
the returns of the appraisers is not so
great however as would seem at first
glance. In passing upon the property
of the two companies, the appraisers
took practically nothing but the diff
ferent vessels. These were valued on
the basis of what they were worth at
the present time. No consideration was
taken of the good will and other prop
erty of the two companies. Were these
items to be valued also they would no
doubt bring up the holdings of the COM
panies to some thing like the amount of
the capitalizations.
No account was taken in the ap-
praisement of the improvements of
landings or the control of the same or
of any other property than the vessels.
The Wilder fleet consists of the
steamers Kinau, Claudine, Maui
Helene, Lehua, Kaiulani, Hawaii and
Mokolii The first four of these YES
sells are steel. The Inter-Island fleet
consists entirely of wooden steamers
They lave the Hanalei Mauna Loa, w,
G.. Hall, Mi1ihala. Niihau. James Ma
kee, Ke Au Hou, Iwalani, Kauai, Waia-
leale, Noeau, and the schooner Fannie
Adele. According to the valuation made
the Wilder company is given $1,000 more
than the other company. The difference
is so slight however that it will make
but little difference in the result.
According to the present distribution
of the island business, the Inter-Isl-
and has the exclusive run of Kaua
trade which is quite extensive, while
the Wilder people have the only lint
running to Hilo, and the Hamalxua anC
Kohala coast, except Kukuihaele. Th
Wilder company can well be said II
control vast majority of the business
on Maui and Molokai and considera bl
on Hawaii although the Kona and Kal
coasts is handled largely by the Mauni
Loa.
The intention of the two companies
before the consoida ton of interests cal
be affected is it is said, to have the di
rectors of each pass upon the returns o
the appraising board and then, If th
figures are considered satisfactory t.
hold a joint meeting of directors ant
discuss the best means of affecting tn
consolidation. Nothing will be done il
the matter however for the present AM
from what was said this morning it will
be a month or more before the join
meeting of directors can be held.