The Hawaiian star. [volume] (Honolulu [Oahu]) 1893-1912, 1901-12-11
STOCKHOLDERS MEETING HELD
TODAY.
A Crop Of p asa Tons of Sugar Pro-
ply and Financial Outlook.


The Chamber of Commerce meeting
which was appointed for the same hour
was adjourned until 10 tomorrow MORN
ing. The reports of the officers were
received and accepted and the follow
ing officers elected: President Paul
Isenberg; 1st vice president, NJ. p. Rob-
inson, in place of b. f. Dillingham; End
vice-president. F. NJ. Lewis, in place of
M. +. Robinson; treasurer, H. A. Isen-
berg; secretary, f. Klamp; auditor, Il.
Hanneberg; board of directors; S. G.
Allen, f. j. Lowrey, j. A. McCandless
and II. Focke.
Treasurer II. A. Isenberg in his report
to the stockholders Of oahu Sugar Com
pany, says
"Of the total authorized issue of
bonds, viz: $3.50 000.00 the sum of $780,
10000 has been disposed of during last
year. leaving $150,000.0O bonds available,
which are now being offered for sale by
Messrs. Bishop & Co.
LAS the sum of $500, 100000 of receipts
for bonds had to be applied towards the
cost of permanent improvements made
during the year ending September 30,
1900, only $3.50 900 were available for de-
fraying the cost of permanent improve
ments made since that date
During the year ending September
80, 1901, the sum of 1851 404.61 has been
spent for permanent improvements and
the estimated outlay during the present
year for such improvements will
amount to approximately $2S5, 100000;
consequently, about 1886 100000 will have
to be spent for permanent improve
ments over and above the amount
available from the sale of bonds, and
must be provided for from the profits
made on the crops of sugar"
The operating expenses for the year
have been $453, ,9Sl % charged to the
crop of 10000; 1921, ,929.S4 charged to
the crop of 19O1-O2; $1S5, ,62S.01 charged to
the crop of 1902-03; $4S, ,S27 charged to
the crop of 10000; a total of 81 1,016,366
.0S. The total income, partly estimated
was 81 ,434. .S45.O2, making the net esti-
mated earnings $41S.47S.94, besides pro-
fits from the plantation store of $4,000.
The resources of the plantation are
placed at $4S50, ,958.37. The liabilities,
including capital stock, bonds payable,
agents accounts profit and loss and all
other items is the same amount.
The crop of sugar for 10000 was 2l,-
Asa tons. That of the year before 1880
tons while the operating expenses OF
this year over last were only sos. us
The chemist p. A. G.. Messchaert
made an interesting report on the
chemical part of the milling process.
OF mechanical influences in the milling
process he says:
1.-The labor question not only in
huenced the field work but the mill
work as WELL the cane cars being load
ed so miserably and small that at times
there were hardly cars enough to keep
the mill going, Furthermore a large
amount of trash and rotten cane was
mixed amongst the good.
Though 1t kept the boiler room full
of fuel it caused us great loss of su-
gar extracting a considerable amount
of cane juice which made the loss OF
sugar in bagasse as much larger as the
weight of it's fibre amounted to, in pro-
portion to the weight of the fibre in the
cane.
1--WE have not been really short of
labor but the men do not work as well
as they used to do before the United
States laws came into force. The cane
has been stripped badly, consequently
there were many stalks rotten when the
time for harvesting came. The cane
| loading men were too lazy to separate
them from the healthy cane and sent
them down to the mill where they spoil
ed the juices"
Manager Ahrens reported among
other things:
The crop last harvested exceeded my
estimate although not my expectations
which would have been somewhat
larger. This result, while requiring ne
| EXCUSES, was uue 10 the nedNy Idluldlls
of last February which were response
BILE for reduced yields on so many plan
tations.
| II know that in our case one tor
more of cane was required to produce
a ton of sugar than was used the yea
before which would have increased th'
tonnage fully to $4,000 tons. The milling
was done by the same men employed
the previous year with improved ma
| Io1, co no oil 10
sible. l am confident, however, that m
dissatisfaction can be felt when com
parison with the previous, year /
drawn. The coming crop will consis
OF 2100 acres plant cane and 1000 loni
ratoons, which / estimate conserva
lively at $1,000 tons of sugar. The fol
lowing crop that of 1902-O3, will b
about the same tonnage, possibly lit
tie larger, owing to the probability O
taking off short ratoons from Ford
Island and Peninsula.
There can be no doubt that our eS
pansion has been retarded at least tw
years by the failure of two of ou
pumps, (Which there is no necessity
name, this means a great deal an
was "A grave misfortune to young col
poratlon not yet five years old. Know
ing fully we'll, after 1t was too late, this
a terrible mistake had been made
ed a good one, not to plant any moi
than we were certain Of being able
take care of, although we were COZ
siderably out on the labor of clearir
and plowing a large area.
1T would have been folly to id
walt and run on in a cOngested cond
tion at this period, so a bond issue WI
authorized to cover the cost of ne
improvements and install new pumps
take the place of the proven failure
This was severely criticised i'm son
quarters but it Is transparently pla
that the larger acreage we get in an
the quicker it is done the sooner al
sureT will be substantial returns. r.
pits and retaining walls of these ne
plants have cost large sum Of none
in the first instance to go deep and &
nearer the water level, and in the Sc
ond, strong walls were proven indispe
sable,-a lesson taught by the misfo
i tune of others who suffered collaps,
1T Is very gratifying to know tn