The Hawaiian gazette., 1901-12-27
M'BRYDE
BONDS A
GOOD / RISK
So Decides Master
Parker Estate
Matter.
(From Wednesdays daily)

1uaye Humphreys attempt to strike :
a+ Attorney Kinney of the Bar Associa-
tion through the McBryde Plantation
Co fell fiat yesterday. In fact the IN
vestication into the affairs OF the pan ,
tation ordered by the court had Just the
opposite effect which was no DOUBT IN ,
tended for the result will be a natter +
ing report by the master as to the ca ,
liabilities of the property. Ii
When the report of the master, f. j.
Russell upon the accounts OF Alfred W. q
Carter as guardian of Annie 1. IA far- ,
ker was presented for approval rev
days ago Humphreys on his own mo-
ton ordered an investigation into the
affairs of the McBryde Plantation Co"
in the bonds of which property the
guardian had invested SOME Vi h''
wards funds.
The court stated that he did not be-
,ieye the bonds were sufficiently pro-
tected and ordered the master to ascer-
tain the condition of the plantation.
The examination was conducted yes
terday afternoon by Mr.. Russell IN the
supreme Courtroom, A. G. NJ. Robert
SON appearing on behalf of the guard
ian. A. w. Carter. The investigation
was very thorough, both the master
and the attorneys questioning the VII
nesses rigidly. At its conclusion MI
Pusseu stated that he would make ia
yoyable report to the court as he was
fully satisfied that the wards interest
;s nrotected and the bonds of $150,O0O
amply secured by property worth at tre
very least s2,000.000.
NJ. d. Monsarrat was the first witness
sworn He testified that he was sur
veyor and had gone over the McBryHe
plantation in that capacity. Al ne
time of his examination the cane lthG
comprised about $500 acres.
what about this lands suitability Tor
the cultivation OF cane?' asked Mr.. Rop-
ertson.
1T is fine cane land" replied the wit
ness ..and compares favorably with the
land of other plantations. from what |
have seen of the land, i think that II
properly managed. it will pay big prohis'
believe In it myself, and invested III
about four hundred shares. ! think the
management IL doing the best IL can u'"
der the circumstances"
Upon examination by the master, wit
ness stated that he had not purchased
his stock until after he had investigated
the property, and did not believe that the
fact of his holding 1t made any difference
in his opinions.
w. A. Baldwin, manager of Makawen
Plantation, testified that he was familiar
it's soil was similar to that of Makaweh
1T is very fair cane land said the wit
ness land the property is very adVah-
.a....ssaasls- s-situ2teh ln rs present sqnal y,
-S-ers - 0s-SHu l. as -ss9l22 - .l- ~
the Oahu plantation, or of any in Eva
basin"
s. c. Allen testified that he had been
in business here for fifty years, but
hadn't been on the McBryde plantation
since 1855 Il am Interested in sugar
stocks and bonds" continued the wit
ness, "and hold some of the bonds of the
McBryde company l consider them
worth par. and the security ample guar
antee. The authorized issue of bonds is
$4,000, and all have been sold. An I'M
mense amount of money has been spent
in developing the property about $500
oC0, and l guess the plantation will foot
up over s4,0OO,0O0 easily"
do you think the bonds would be good
If the plantation was abandoned?" asked
the master.
Yes. the bonds would be good even II
the plantation was given up l consider
the property worth double the amount ol
the bond issue, without any question
w Baird, treasurer of r. II. Davies &
Co.. testified that all of the bonds, $3.50
600, had been taken up, and all of the
stock excepting 1880 shares issued Al
the assessments had been called in.
j. A McCandless testified that he was
an artesian well borer, and had beer
over the McBryde plantation twice sine,
September. THE soil is of the sam,
quality and character as the Oahu plan
tation, and ! consider it first class.
would value the land at from $3.50 to s2N
per acre. The bonds are amply secured
besides the land there is the mill com
plete, with good water supply, with
railroad, and fully equipped every way
/ should consider the plantation to bt
ha val, Of IA.
bonds"
In answer to the questions of the mas
ter Mr.. McCandless continued:
There is no reason why this enterprise
should not be successful. | think the
McBryde Will produce more sugar thar
the average plantation in these Islands
Al the conclusion of the evidence, Mr.
Russell stated: Il will report that tn
bonds are amply secured. l consider tn
property to be worth not less than s., ,O0D
0M, and 1t affords ample security for IN
SJ0,O0O in bonds. The transcript of evi
dence in this proceeding will be turne
over 10 the court with the report for hi
examination. OF course, l do not knoN
what the court will do, hut in my opinlo
the bonds held by the guardian of Ami
Parker are fully protected"
The report will be presented to Judg
Humphreys Monday morning
COURT NOTES.
Kemilia Kuhia has filed an inventor
OF the estate of Alonzo Kalua Kuhia
showing am insurance policy of 1000
general denial has been filed by tn
defendants in the case of Hawaiia
Hardware Company VS.. Kamalo Suga
Sugar Company
T. A Hemenway has been appointe
temporary administrator of the estate q
IA u biart' with bond of 500. ?