The Pacific commercial advertiser. [volume] (Honolulu, Hawaiian Islands) 1885-1921, 1901-10-31

liams, Dimdad & Co, of San Francisco,
and in consequence an arrangement was
made with those parties to consign i've
eighthS of the crop to WEIGH & co. ana
three-eighths of the crop to Williams,
Dimond & Co., they agreeing TO, apply
the whole of their commissions to reduc-
ing the debt. This was our first business
arrangement with WEIGH & Co., which
has continued ever since. We also had
business relations with J. G. Merrill &
Co., of San Francisco, who were our
regular agents, but soon after this the
house was implicated in the smuggling
of opium in their vessels. The modus
operandi was to bore holes in redwood
posts, put in the opium, plug up the
holes, then have the posts delivered to
parties here. who did the selling, etc.
In this connection it Is well to relate
our more intimate relations with WEIGH
6, Co. In August, 1873, Mr.. Bishop, of
Bishop & Co., notified US that it would
be impossible for the bank to furnish US
funds for the between season" of that
year. and advised us to make other ar
rangements. 1t was decided that | should
go to San Francisco and arrange for the
money. The plan laid out was to offer
WEIGH & Co. and Williams, Dimond &
Co. each one-half of our business. Will
liams, Dimond & Co. declined to make
any duNduGeS. l. lie lOldt dIIlOuul we re-
quired was SIPS, O00-and get each house
to advance half the sum. Before going
to Dimond, l advised Mr.. WEIGH of our
plan, and it met with his hearty APP
prevail. After w. D., & Co. declined l
went back to WEIGH &, Co. and asked Mr..
Welch if he would take all our business
and make US the advance of $125,000. He
replied: II never asked for any business.
but when your business is offered to me
1 gladly accept it, and you can depend
/ upon having the amount you require.
! l then said L was prepared to furnish
him ample security for the advance of
funds. but he said he was perfectly sat
| isfed with the standing of c. Brewer &
Co, and did not care for any collateral
Our agreement was that we were to
draw so per cent on each invoice of sugar
and apply so per cent to the overdraft.
Later, on the way to the steamer by
which L was to return, Mr.. Welch said:
Now, Jones, if you find you need more
money, you can draw for $4,000 or 5000
more by giving me thirty days notice"
| Most of the other sugar agents We're
compelled to mortgage growing crops, at
a high rate of interest, to provide funds
for carrying on plantations between
crops. One year the Hawaiian govern
iment loaned the agents money for a sea-
son, but c. Brewer & Co. never went
outside of Welch & Co. for all the money
they needed.
The year 1875 showed gain in profits
of about 10 per cent over 1874. January,
1875. Mr.. Fred Macfarlane entered the
| employ as bookkeeper and continued to
January. 1877, when he left, to take a
position with Bishop & Co., bankers Mr..
Bishop knew a good man when he saw
him, and made no mistake when he took
Macfarlane from us. L took the books
again, did that branch of the business
until May, 1877 when Mr.. w w North
was employed for the position, remaining
with us to our entire satisfaction until
June, 1879 returning again in 1899 to oc-
cupy the same position, and is still with
US
In 1876 the reciprocity treaty went into
operation. Just before the passage of
the treaty we purchased a lot of second
and third sugars of the Kohala planta-
ton from Castle and Cooke. making a
profit on same of SO, 1886. That was the
most profitable year we lad ever had.
and after making the closing entries for
the year, 1 wrote on page 262 Of Journal
9. the following:
so ends the year 1876 Praise God -
During the year 1876 the ship Marian
iNottebaum" arrived in distress, and we
undertook to make the advances for her
repairs. We took drafts on the agents
in New York for $40, S93. Sc, and came near
losing the entire amount. as her agents
failed before the drafts reached New
York. Mr.. J. D. Brewer, our junior part
ner, was in New York on the arrival OF
the drafts, and persuaded one of the
owners, who was very rich man. to
pay them and hold the securities himseIt
Ia bottomry bond on the ship, thus saw
ing the profits on our most prosperous
year.
During the year 1878 we took the agency
Of steamship line TO do business be.
tween Hongkong and Peru. The steam
ship Perusia made only two trips and or
her return from Peru, the second voy.
age, we supplied her with stores anc
coal. The vessel arrived on Saturday
and the captain was anxious TO take II
his coal on Sunday. very reluctantly
consented We took the captains draf
for $5042.30, which came back protested
the owners having failed. and we nevel
got a dollar back. I have always fei
that the loss was in consequence of VIC
lating the Sabbath day and thought
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