The Hawaiian star. [volume] (Honolulu [Oahu]) 1893-1912, 1902-04-02
meeting
Efforts Co suuphtcn the Affairs of
Sugar Propositions That Suffered
From Arrested Development

AT "a special meeting of the stock
holders of Nahiku Sugar Company
proposition from Hama Plantation Com
pany to lease the property of the Ma
hiku Company was considered. The of
fer was Inn writing i'm the form of pre-
amble and resolution for adoption by
the stockholders of Nahiku.
Whereas, the Hama Plantation
Company has made proposition To- the
NahiSu Sugar Company, Limited of
which the following is a copy.
For a satisfactory lease, for a term
of twenty-siX years from the Nahiku
Sugar Company for an of their right,
| title and interest i'm the water of what
are known as the Makapipi, HanaWi
and Eapaula streams i'm the district of
Koolau, Maui, and Of all the real es-
tate, leasehOlds and other interests I'm
real estate of the Nakiku Sugar COM
pany we viii pay an annual rental of
four thousand five hundred dollars
| $45OO) United States gold coin, pay
| able semi-annually i'm advance and all
the taxes ON the property leased ana
! the Government rental under the NH
| ku Sugar Compny's water license.
and all rents payable on property at
present under lease to the Nahiku SUI
gar Company, provided;
First, That we make contracts
with the Nahiku hOmesteaders for
right of way for the conduct of the
water of these streams over their land.
/ Second, That the Government puts
| up for sale, within six 90 months
| from this day, a lease for term Of
/ twenty-One cd years, but subject TO
| the Nahiku Water License, of the tract
| of government land in the District
/ of Koolau, Maui, lying above and adj
/ joining the 'Nahiku Tract as shown
/ on Public Lands Map No. 90 and en-
! tending from the line Of lease No. 492
| to the Hama Plantation Company, to
| the Puakea stream between the lands
| of Kapaula and Puakea, and provided
| further that we become the purchasers
| of said lease.
The lease from the Nahillu Sugar
| Company to us to be executed immedi-
| ately upon the conclusion of contracts
as aforesaid with the homesteaders,
| and then placed i'm escrow to be de-
| livered upon our acquiring the above
| indicated Government lease.
THE Nahiku Sugar Company must
| produce the consent of the Govern
| ment to the lease. Yours respectfully,
| Hama Plantation Company, by NJ. 5.
| Grinbaum, president
and whereas. Alexander & Bald
| win, Limited, has made an offer TO re-
| lease the Indebtedness to them of Ma
| hiku Sugar Company, Limited, in the
| following terms addressed to James F.
| Morgan. ice-president of the Nahiku
Sugar Company, under date of March
! "a, 1902.
/ I'VE hereby offer to release the in
| debtedness Of the Nahiku Sugar Com
pany to our firm amounting to about
| S31. Ala on the following conditions:
/ First, The Baldwin plantations to
receive a paid up lease for 26 years to
all the right, title and interest of the
| Nahiku Sugar co. in the stream lying
on the boundary between the Nahlku
district public map No. 2O) and the
: Puakca Ahupuaa, and also all the sur
plus water of the streams of Nahiku
District that may not be used by Hama
or the Nahiku homesteaders.
Second. This offer is conditioned
upon the acceptance by the Nahiku
! Sugar Co of the offer of Hama planta-
! ton to lease the Nahiku property for
! period of 26 years, for $4,000 per year
! Very truly yours. Alexander & Bald
! win. Ltd, j. p. Cooke, treasurer
/ "ReSOlVed that the directors of Ma
hiku Sugar Company, Limited are
hereby authorized to complete the SAID
propositions substantially i'm accord
/ ance with the plan above set FORTH
and according to the true intent and
meaning thereof; and the proper oItl-
! GERS are authorized to execute instru-
| ments necessary to effeCtuate the same
and place the same in escrow with
| responsible party to be delivered upon
! satisfactory completion of the nego-
| tiatiOns."
| The financial status of Nahiku was
| presented by j. p. Cooke as follows:
| Assessments paid including the fourth
! $143, 743; assessable stock in the treasury
! %, 04l shares paid up stock in the trea-
sury, 1925 shares. The par value is $40
! a share Paid up stock in circulation
! 125 shares: aSSesSable stock in circula-
! oh
| ginal issue of 1880 shares; debtor to
/ Alexander e Baldwin on March 81, 1902
! S3l. 41474: II 709 shares at 81 paid, repre-
Isenting a total Of SSl,963.
James f. Morgan said Hama Planta-
! ton COMPANY had before this made an
/ offer of $4,000 a year on similar prOpo-
sition and he moved that $4,000 be in
serted in the resolution in place of S4,-
/ 500 as the rental the directors were au-
! thOrized to receive. This amendment
| was adopted and the resolution as
/ amended approved. On the basis Of
| this resolution the directors of Nahiku
are now negotiating to carry out the
! terms and conditions of the proposed
! lease.
! A special meeting of the stockholders
! of WahiaWa Sugar Company was held
yesterday afternoon at the office of An
! drews, Peters and Andrade The COM
! pany holds leases of lands belonging to
]
| lands were leased with the intention Of
starting a sugar plantation. The COM
pany has been unable to proceed with
/ its development. The terms of the lease
! it is said, have not been complied with
/ by the lessee. Improvements have not
! been made and the rent has not been
paid. The meeting was called to Sc
| cure, If possible, from the lessee a sur
render of the leases. Some of the stock
/ holders were favorable to such action.
/ Others objected wanting to wait fur
/ Their to see if something would not turn
| up to enable the company to proceed
with it's development. No action to sur
| render the leases was secured at the
meeting, and the lessons, now, ii is UNI
/ derstOOd will proceed in the courts to
secure the cancellation of these leases.
.KOHALA WILL