The Pacific commercial advertiser. [volume] (Honolulu, Hawaiian Islands) 1885-1921, 1901-02-27
HAWAIIAN
STOCKS.
Combines
Local Sugar
Men.

INANcJERS of San Francisco are
agreed that Their stock markets
win not feel the effect of the CONF
h,,at,on Of the vast Hawaiian sugar
,,ortation shares until those shares
have been transferred to the Easier"
markets The San Francisco Ne"s-Aeo-
fer of February 16 dilates upon the com
hiuation which is said to have peen ei-
pacted nv Edward POLITE, and says that
the change will enlarge the field OF oper-
ations for the manipulation or THESE
shares which will eventually command
high prices. The first statements reia-
Il tive to the gigantic deal included the
Hawaiian Commercial and sugar So
pany but 1t is denied tna1 TINS pidne
ton figures in any way in the compina
Ition. AS a result of the manipulation OIL
the plantations the prices have risen ac-
col dinghy The Newsletter says
| The subject of the combination just
leHected among sugar companies As'eu
ON the local Stock and Bond Exchange.
has been touched upon very lightly by
the press of this city. The Importance
tof the movement Is not realized, anu
Inossibly never will be until the bulk OF
the holding of shares passes INTO VIC
hands of Eastern investors ms ma
lket is too narrow for the accomnoua-
,tion of so many enterprises OF an IN
ldustrial character, and it matters not
that they may be of the highest class IN
the matter of safety and proht. me
inew arrangement will enlarge the heiu
of operations, and add value 20 tne ~
yestment by an Increased activity IN the
shares. which must eventually command
thigh prices. Only five of the local COM
panies are included in the consonoatIon.
| These are the Onomea, Paauhau, no
inokaa, Hutchinson and Klauea. Neltner
49,, oil
IkaweH are in the combination, as efro.
ineously stated, but several prominent
iIsland plantations, with large proouct-
= i've properties, will be taken IN by the
parent company, which is known as tne
American and Hawaiian Commercial
iCompany. The yield last year of the
five local companies mentioned above. II
connection with the consolidation, Was
1858 tons of sugar. and this Will IN
, Icrease annually as the plantations come
more fully under cultivation; SO ina
the financial status of the new compan!
y will be on a strong footing from Tn
y start. This is one OF the most impor
4. tant transactions in relation to its bear
D. ing on the local stock market %whicl
:, has ever been recorded and one Whicl
u will be productive OF gooo results III va
s. near future
lg The ARRANGEMENT was carried out o.
~ Edward POLITE, of the firm OF Point
s. and Company of this city, which
largely interested In THESE conpauto
lie and other sugar plantations in the IA
waiian Islands. AS usual, dispositio
is apparent to throw cold water on "a
proposition in local financial circles, bu
that is the usual way things go here,
the disadvantage of the community.
Unity of action for the common wee
Is unknown, and twenty can be foun
ready to pull down where one is exer'
ing an effort in building up. AS the er
r. terprise under discussion is backed
Eastern men, broad enough in the
ideas to scorn the petty jealousies whic
animate the action of narrow-gauge s
lurians, 1t will be carried to success
full conclusion in spite of opposition
n this end OF the wire. Prices have hare
u ened to some extent in the local markt
III during the past week, which Is abol
~ the extent Of appreciation which nigf
be expected. owing to the very limfte
demand to which reference has bee
made. When the Eastern exchange
take the matter up. they will soon clea
UP any shares of stock loosely held hei
or elsewhere. There is an assurance {
this. at any rate which is something Il
/, which we may be thankful.