The Hawaiian gazette., 1901-08-13
|, WHITE LABOR FOR SUGAR GROW.
|, ING

itorial discussing the debates now going
on in the new Australian Federal parla-
ment on the question OF "a White Aus
tralia. The sugar growers In northern
Australia, and more particularly in
1 Queensland have at an early date Sc
cured from their home government the
privilege of securing indentured kanaka
labor from the islands of the South Seas.
just as Demerara and Trinidad In the
British West Indies secured the privilege
of bringing In coolie labor from Hindoo-
stan.
/ This new great Anglo-Saxon fedora
ton in the Southern Hemisphere is APP
parently destined to work out n splendid
future, and It's statesmen may well pom
der seriously the race question and the
expediency, or inexpediency of maintain
ing their already considerable sugar in
dustry on foundation of colored labor.
We In Louisiana are confronted with the
same problem, but our labor is entirely
free There Is no indenture, no appren-
ticeship, no ten years term OF scrvitude
under which latter conditions the coole
and Kanaka labor system is thus far
based
We have no doubt that the Australian
Federal Parliament will decide upon the
matter in the end, but at present the
Queensland sugar planters are very much
exercised concerning til. y, Planter.
SUGAR TRUST EXPANSION.
NEW YORK, July 29.-The New York
Sun says: The stockholders of the Amer
lean Sugar Refining Company will receive
in day or two "A communication from
the board of directors in which IL is pro
posed that the stockholders authorize the
issue of sl5,0O0,000 OF new stock of the
company. The communication will be
sent to each OF the 1900 stockholders as
soon as It comes from the printers. The
text of the document is as follows:
TO the Stockholders of the American SUI
gar Refining Company:
IT is proposed TO issue Sl5,0D0000 Of new
stock of the company, one-half common
and ont-half preferred, payable in cash
at par and to give the right to subscribe
to the preferred stock to the holders of
preferred, and to the common stock to
the holders of common, in the proportion
of their holdings. one share new for five
shares old. The board of directors have
= passed resolution that such increase
is advisable and have directed that to
take such action about II, n meeting
of the stockholders, common and pre-
ferred, he called for September 18th next.
at Il m, at the Office of the company in
Jersey City. To authorize the issue OF
the new stock requires that two thirds
in interest of each class of stockkhoders
shall vote in favor of it.
1t is the opinion of the board that this
Increase is In the interest of both classes
OF stockholders and that the right to
subscribe should be given as hereinbefore
: stated. The company, at It's organize
ton authorized an issue of SO 900 200
! mortgage bonds. 1t is proposed that
thes" bonds and the mortgages should be
. cancelled,
The company has expended in the ac-
QUESTION Of property for its business per
manent improvements etc, the sum OF
over S15,000,OO0. This has benefited both
classes of stockholders, the preferred
stock in the added security which IL has
r gwen, and the common stock In the add
ed value OF the property of the company
} and in increased facilities FOR the trans
action of its business. The $1,000 vp
which the proposed increase will bring
to the treasury of the company will be
, used for it's business purposes As cap
ital it VIII benefit preferred stockholders
in promoting the preferential value Ui
: their stock. That the common stockhold-
! ers are interested that the increase shall
be made seems. to the directors, to DE
manifest.
Increase of the business requires an in
crease of capital. The strength of the
= business consists la It's freedom from
. mortgage debt and its entire pccuniary
independence. The entire amount real
lied from the new stock will come into
the treasury of the company ana will he
available for its business uses.
Herewith the directors enclose proxies
which, so far as given, will be voted foi
= the proposed Increase. While the dirc"-
!. tors desire that tbs Stockholders should
act according to their own Judgment
, they feel justified in saying that, in thcii
opinion, stockholders are Interested that
] this actiua Will be taken. Respectfully.
e TIE BOARD or DIRECTORS.
The meeting OF the board of directors
. at which the issue of the above eommuni.
cation was approved. was held last Wed
nesday. The document Is now In the
hands of the printer. and as soon as suf.
hcient copies can be turned out they will
: be sent to the stockholders. The direc-
tors of the company who approved the
proposition are: Henry o.. Havemeyer
Charles III. Senff, Arthur Bonner, Wash
ington b. Thomas. John f.. Parsons John
Mayer and Lowell NJ. Palmer The pres
ent capital stock of the American Sugar
Refining Company is S75OOO,OO0, half com.
, mon and half preferred. When Presiden,
, Havemeyer was asked about the circu-
! lar he said:
Nothing should have been known
, about 1t until after the stockholders had
received 1t, but since you have It, don't
know that II will do any harm to let the
perverted rumor about the proposition on
! the tape this morning, sent out from
Philadelphia. That stated that the mon
. ey obtained by the sale of the new stock
would be used to acquire properties of
some of our competitors. There liz not a
, word or truth In such statement The
American Sugar Refining Company does
not purpose to buy up single independ-
ent plant We have no use for any more
, properties. And this includes the Ar
buckles. We have made no settlement
with them and have no intention of maxi
, ing one. IL you were to say that me Su-
gar Trust had in mind some operations
In fields outside the United States, but
not far from our shores, you might come
pretty near hitting the nail on the head -
. do you mean Cuba. Porto Rico and
Hawaii?' asked the Sun man.
. Hawaii is too far away" said Mr.
Hayemeyer, but they grow pretty good
|, sugar in Cuba and Porto Rico Tho gu