The Hawaiian gazette., 1901-05-21
CONNIE RCIAL NEWS.

. building viii ht started or NUndtF on
Fort street opposite thr love block The
rians ana drfirnf wrfc drawn up for o.
~ Fisher hy Howard A Train arohi.
: tccts. nnd present an attractive elevation
~ cement relieved hy limos - pressed
. brick ofnamentvd by cast iron IN coium
; mar aud has relief The Vcnulsting
, pr.lls underneath the window aye OF
! open work and the structure when com.
pletcd will be- decided acquisition 10
Fort street The foundation will be 81
stone and the basement lighted by side
walk lens. Holman n Riley are the
contractors. and will complete the work
hy the middle OF July. The entire build
ing when completed will be occupied by
the Washington Mercantile Co.
HOUSES BEING CONSTRUCTED.
Four pretty houses are being erected
upon kinau street above Alapai for W.
+. Hebron from the plans OF Howard
! q Train. The residences are one and "A
half story high containing seven rooms
and are fitted with all of the latest mod
ern improvements, including servants
quarters and barns. The style is that
known as English half-tmbered. the
houses proper occupying the four cor
ners OF a square divided into equal sec
lions by road and passageway. Work
VIII be completed IN about seven weeks
| time. w. f.. Hebron is the owner OF
| The property at cost of sll,vvV. the
houses being available for rent when fin
lshed.
SUIT AGAINST THE oRPHEUM.
c. S. Desky has brought suit against
the Orpheum Company for foreclosure
on. a mortgage upon the Orpheum block,
including the theater. The original mort
gage is to secure notes amounting to
$500 and interest at the rate of per
nj
paid, leaving the amount due at $4,000
and accumulated interest. According to
the bill the Orpheum Company was on
January l. 1900, seized in fee simple of |
what is known as the Orpheum property |
save for a mortgage of sl55G0. given by |
petitioner to the Hawaiian Evangelical |
Association. The mortgage was to run |
five years from 1898 at I per cent. On |
January l, 1900, the Orpneum Company |
gave a mortgage to plaintiff for $4,000 |
payable on July /, 1900 January 1, 1901,
July /, 1901, January !, 1902, July l, 1902,
January /, 1903, and 81 900 due January l.
1905. Two notes are now overdue, moth
ing having been paid on their account
except the interest on the first six
months of last year. By the mortgage
agreement failure to pay any OF the
seven notes constitutes breach of
contract and renders the contract liable
to immediate foreclosure. Failure of
stockholders to come forward with as
sessments IS alleged by the Orpheum
Company directors as the reason of the
failure to make payments. 1t has been
already decided to make arrangements
at the next meeting of the Orpheum
Company to pay the two overdue notes.
and it is understood that this action, to-
gether with the payment of the interest
and expenses, will be satisfactory to Mr..
Desky. The Kapiolani Estate are hold
ers of the largest interests in the delin-
quent company.
LOCAL SECURITIES.
The feature of the week in the local
stock market is the decline in Waialua
stock.
At the opening of the Stock Exchange
on Monday sales were effected at
$40. Prices fell gradually in this secur-
ity until the midule of the week, when a
few shares were sold on the street by
the brokers at sl05. nut one sale at this
figure was recorded on the Stock Elk
change.
Waialua closed strong at yesterdays
session of the Exchange at 1U71a. Pres
ent indications now show an upward
tendency in this stock.
oahu Sugar Co.'S shares sold as low as
150 The closing Exchange quotations
We're $50 bid and 1922 asked.
1
are many large buying orders for this
stock at 2S
Pioneer Mill Is 100 bid, 1029 asked.
Hawaiian Sugar 40 bid, 4O4. asked.
Waimea Mill SO bid 81 asked.
Kahuku 25ia bid. 261s asked.
holoa shares We're offered at 1885, Kona
Sugar Co. at so; Paia at 1885, Olowalu at
$50; Haiku at 24O.
There was a general weakening among
he x
ception of Olaa, winch was Az bid and
8 asked.
McBryde assessable was offered at 81.
An assessment of 81 per share, payable
on June list, has been called on this
stock. ,
Kihei paid up shares sold at sl2.
The Oahu Railway shares sold at 1O5.
There are many inquirers for this gilt
edged security from abroad.
The week has been characterized by a
heavy demand for bonds Hilo Railway
bonds are sS12 bid. Oahu Railway Land !
Co.'S bonds 1O4 bid oahu Sugar Co. 1011a
bid.
Government per cents also advanced /,
a point. With the retirement of Govern {
ment per cent bonds and portion of {
the per cent bonds, considerable funds
are seeking investment In good bond Sc
curities.
Word was received by the last steamer
from the Coast that Mr.. b. +. Dilling-
ham had succeeded in placing the last
lot of Puma Sugar Co.'S bonds, amount
ing in all to $50, 900. with the Pacific Life
Insurance Co. of San Francisco, of ,
which company Mr.. C. f. Hutchins of I
this City is general agent for these ISL
inds.