The Pacific commercial advertiser. [volume] (Honolulu, Hawaiian Islands) 1885-1921, 1901-05-18
NEWS

The foundations OF a new two-story
building will be started on Monday on
Fort street opposite the Love block. The
plans and designs were drawn up for j.
III. Fisher by Howard & Train, archi-
tects, and present an attractive elevation
of cement relieved by lines of pressed
brick ornamented by east iron in colum-
mar and bas relief. The venuIating
grills underneath the window of
open work and the structure when COM
pleted will be decided acquisition TO
Fort street The foundation will be of
stone and the basement lighted by side
walk lens Hoffman & Riley are the
contractors, and Will complete the work
by 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 AIapai for w.
f. Hebron from the plans of Howard
& Train. The residences are one and
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 Engnsh half-timbered, the
houses proper occupying the four cor
ners of "a square divided into equal sec
tons by road and passageway. Work
will be completed in about seven weeks
time. w. F.. Hebron is the owner of
Nf th1a
houses being available for rent when fin
ished.
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
s37, 900 and interest at the rate of per
cent One payment of 5000 has been
paid, leaving the amount due at $4,000
and accumulated interest. According to
the bill the Orpheum Company was on
January / 1900, seized in fee simple of
what is known the Orpheum property,
save for a mortgage of $15,5O0, given by
petitioner to the Hawaiian Evangelical
The mortgage was to run
five years from 1883 at per cent On
1, 1900, the Orpheum Company
gave a mortgage to plaintiff for $4,000
payable on July 1, 1900, January l, 1901,
July l. 1901, January 1, 1902 July l, 1902,
January 1, 1903, and $1,000 due January l,
1905. Two notes are now overdue, moth
ing having been paid on their account
except the interest on the first six
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
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
s11O Prices fell gradually in this secur-
ity until the miduie Of the week, when
few shares were sold on the street by
the brokers at $105. .,ut one sale at this
figure was recorded on the Stock Ex-
change.
Waialua closed strong at yesterdays
session of the Exchange at lU712. Pres
ent indications now show an upward
tendency in this stock.
Oahu Sugar Co.'S shares sold as low.as
I tor
We're 100 bid and 1922 asked.
Eva shares transferred at 2S14. There
are many large buying orders for this
stock at %.
Pioneer Mill is 100 bid, 1929 asked.
Hawaiian Sugar 40 bid, 40A asked.
Waimea Mill SO bid, 81 asked.
Kahuku 251a bid, 261s asked.
holoa shares We're offered at 1855; Kona
Sugar Co. al 50: Paia at 265; Olowalu at
100; Haiku at 24v.
There was general weakening among
the assessable shares with the single ex-
ception of Olaa. winch was 4& bid and
5 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 s12.
The Oahu Railway shares sold at 1e5.
There are many inquirers for this gilt
edged security from abroad.
The week has been characterized by
heavy demand for bonds. Hilo Railway
bonds are 1872 bid. Oahu Railway Land
Co.'s bonds 104 bid. Oahu Sugar Co. 1917
bid.
Government 5 per cents also advanced
a point With the retirement of Govern
ment per cent bonds and portion of
ila,-a 10 fI1rA
are seeking investment in good bond Sc
curities.
Word was received by the last steamer
from the Coast that Mr.. B. f. Dilling-
ham had succeeded in placing the last
lot of Puma Sugar Co.'S bonds, amount
ing in all to $4,000 with the Pacific Life
Insurance Co. of San Francisco of
which company Mr.. C. F. Hutchins of
this City is general agent for these ISL
ands.