The Hawaiian gazette. [volume] (Honolulu [Oahu, Hawaii]) 1865-1918, 1901-03-01

q INANCIERs Of San Francisco are
- agreed that their stock markets
will not feel the effect of the com
bination of the vast Hawaiian sugar
plantation shares until those shares
have been transferred to the Eastern
markets. The San Francisco News-Let-
ter of February IL dllates upon the COM
binat.on which Is said to have been eff
fected by EDWARD POLITE. and says that
the change will enlarge the field OF opur-
atoms for the manipulation OF t"ose
shares VIII ch viii eventually COMMAND
high prices. The first Statements Ieia-
tive 10 Inc gigantic uea. IILIuutu Liir
Hawaiian COMMERCIAL and sugar Com
pany, Dut II ueh.ed that tu.s pldnta-
lCn ngures III any way .n tne uOnlD.na-
ton. As result Of the mdnlpuiat Ca oi
the p.antations the prices have rIseu ac-
CO G.Lgls. 4 he Newsletter says:
The subject of tne ComDinauJn just
effected among sugar companies listed
on the local stock and BOND Exchange,
has been touched Upon very lightly by
the press of this city. The Importance
of the movement is not realized, and
possibly never Will be until the bulk OF
the ho.d ng of shares passes into the
hands of Eastern investors. This mar
ton of 80 many enterprises OF an In
dustrial character. and 1t matters not
that they may be of the highest class In
the matter of safety and profit. The
new arrangement will enlarge the field
of operations. and add value to the in
vestment by an increased activity In the
shares. which must eventually command
high prices. Only five of the local COM
panies are included In the consolidation
These are the Onomea. Paauhau. Ho-
nokaa, Hutchinson and Kilauea. Neither
the Hawaiian Commercial nor the Ma
kaweli are in the combination. as erro-
neously stated. but several prominent
Island plantations. with large product
i've properties will be taken in by the
parent company. which ID known as the
American and Hawaiian Commercial
Company. The yield last year of the
five local companies mentioned above, In
connection with the consolidation, was
36.53s tons OF sugar. and this will in
crease annually az the plantations come
more fully under cultivation; 30 that
the financial status OF the new company
Will be on n strong footing from the
start. This IL one OF the most impor-
tant transactions In relation to its bear
Ing on the local stock market which
has ever been recorded, and one which
will be productive OF good results In the
near future.
The arrangement was carried out by
Edward POLITE. of the hrm Of POLITE
and Company OF this city, which is
largely Interested In these companies
and other sugar plantations In the Ta-
wa Ian Islands, As usual, disposition
IA apparent to throw cold water on the
proposition In local financial circles, but
that is the usual way things go here, TO
the disadvantage OF the community,
Unity or action for the common tvenl
IL unknown, and twenty can be found
ready to pull down where one In exert
ing an effort In bu lding up. AZ the en-
tcrprise under d'scussion is backed nv
Eastern men, broad enough In their
Ideas to scorn the petty ieaIous'es which
animate the acton OF narrow-gauge 81
lnr'ars II win he carried IN n SUCCESS
ful conclusion m snite ~ opposition ~
this end NJ the wire. Prices have hnrd-
e7ed TO some extent IN thu Local market
during the past week, which 's about
the extent Of appreciation witch roirh,
y" sypcctod. owing n I've verv limited
d"Uand 70 which reference has neon
made. When the Eastern avchnn~os
r. ke the matter mp. tNev win soon oIoan
M any shares ~ stock loosely hold horo
~ elsewhere. Thera 10 nm assurance NJ
th's, at any rate, VIII Oh 70 something for
which we may be thankful.