The Pacific commercial advertiser. [volume] (Honolulu, Hawaiian Islands) 1885-1921, 1901-03-01
RE suit S
GOOD.
|Waialua Plantation
Stockholders
Meet.
WELL SATISFIED
WITH THE REPORT
Treasurer Bowen's Statement and
Report of Manager Read
to Directors.
y THE ANN1rA1, meeting of IL

T THE ANNUAL meeting of the
~ stockholders of the Waialua Agri-
cultural Company, Limited, held
yesterday morning in the offices of Castle
& Cooke, a resolution was introduced
and adopted by which the company Will
issue S1,00o,008 worth of bonds for the
purpose of making permanent improve
ments anG acquisitions to the property
holdings OF the company. 1t was stated
in the meeting that probably not more
than 100000 worth of the bond issue
would be disposed of for the present.
The bond issue will be, the means OF
allowing the earnings of the plantation
to be devoted to the payment of divi-
Idends No dividends will be authorized,
however, until the directors and officers
are assured that the dividends can be
paid regularly without interruption.
The following officers were elected for
the ensuing year: President, }. u. Ath-
erton; vice president, c. Nj. Cooke; sec
rotary, E. D.. Tenney: treasurer, w. A.
Bowen; auditor I. r. Robinson. Henry
WaterhouSe was aaued to the list OF Oh
rectors of the company. The officers
were chosen by the directors, who were
| first elected by the stockholders.
| Treasurer Bowens report showed that
property valued at So, So, 633.02 Is held by
| the company under the designation Oh
permanent improvements. During the
!! past fifteen months the operating eX-
penses aggregated ssh, 725.79, of which
! 1851 ,167.01 is charged to the crop of 1900;
$3.50, .16 to the crop of 1901; $193,O3l.92 to
! the crop of 1902; $1,000 to the crop of 1903
The total sugar product was $500 w
! This added to other sources of revenue
made the total earnings $45l, 22S90. The
I tot MS a m
The liabilities amount to $3.50, 504.3S, which
include amounts due Castle x Cooke, the
agents of the plantation.
Manager w. w. Goodale, in his report
says that owing to the difficulty in con-
structing the new mill, the crop for 1900
was not as large as it should have been
The crop amounted to $3.50 tons, taken
from 9S5 acres. Had the mill been run
ming, he estimates that the crop would
have amounted to 5000 tons. The 1901
crop will be taken from 1850 acres of
plant cane and 300 acres of ratoons, and
the product is estimated at $1,000 tons,
| TRIPPING that of the present year. For
the crop of 1902 there will be 1,400 acres
i of plant cane and $50 acres of ratoans.
4 The 1893 crop will be taken from 2,50e
acres of plant cane, and 1,500. acres Of
| ratoons.
! He reported that the pumps the
plantation furnish a daily water supply
of 100000 gallons. An old ditch supply
is also utilized having a capacity of 65,-
100000 gallons daily. Twenty-four miles
of permanent railroad have been con.
structed in the last fifteen months, anG
ten miles of portable track has also
been laid
The manager makes the following
statement relative to labor conditions:
There have been no labor troubles
and there have been men enough to dc
all necessary work besides all that ha:
been done in the development of the plan
tation property for future profit.
Owing to the general shortage of la
Dor, however, throughout the group the
standard of wages paid has been forced
higher and the standard of work per
formed per man per day has dropped
lower
I'VE had the same conditions in 1SS
and 1890 at the time the Eva and Ma
kaweli plantations We're started and
great and rapid development of planta
tons all through the Islands.
Wages are higher now than at an.
time since 1890 and for cutting an,
loading cane we are now paying abou
SO per cent more than for the same worl
two years ago"