The Hawaiian gazette. [volume] (Honolulu [Oahu, Hawaii]) 1865-1918, 1902-03-07
KONA CREDITORS MAY
SAVE THE PLANTATIO

I"F IN" IHuUH fI another without 10
consent ~ tho owners tuIrf tiIs
clause t is said ther. could be trl1
pW upon any transfer of thr tt. t1
the leases which comprise large n1 &
~ The best lands NJ iho plantation and
90 Or further alleged that the attorneys
~ the kapiolani estate have been
ready for some time to insugurate
proceedings to stop any sale which
might be- made to include these lands.
-. =. Dillingham;, when he heard ~
the lengths e. which the recelvcrship
had gone. at once went out to see what
could be done. lie said that his firm
had all the business be wished % un-
dertake at this time but ne gave his
energies 10 an ondeavlr 90 interest
some Of the money men of the city In
the plantation. Mr.. Dillingham; said
that it would never do TO permit the
impression 10 gain currency In San
Francisco that local sugar properties
We're in any way speculation. The
men there who had taken up the plan
tation issues believed in them but
their confidence might be shattered IL
they became convinced that there was
any lack Of stability or any intent on
the part of courts to take summary
steps In such proceedings. He made
the offer to some of the men interested
that he would be one of the twenty
to subscribe to the 100000 fund needed
to carry on the work of the plantation
and would endeavor in every way to
work for the success of the estate.
Mr.. $. NJ. Damon had not looked into
this feature fully, owing to the pres
ence Of friends on the Ventura, and
would not discuss the plan. Speaking
generally ne thought complete control
of the affairs of the estate must pass
into the hands of some one before its
working could be hoped to be made
successful. In the event of an assign
ment a minority stockhOlder might
make trouble for the assignee. The
only way, i'm his opinion. was to have
the plantation put so that there might
be no changes in the administrations;
that the man sending in his money
could depend upon the control of his
investment.
Mr. j. NJ McChesrey said after the
meeting of the creditors that he was
at loss to understand the moves of
tine receiver, as there could be no
doubt Of the deterioration of the plan
tation once 1t lost its labOrcrs. He
said there was "A plenty of provisions
to b. had upon receivers certificates,
and he thought the receiver might very
well have tried further before he went
to the extreme of disintegrating the
force Of !aboTcrs, to recover which
would cost any successor to the pres
ent corporation Large sum.
Among the heavy stockholders of the
plantation is a Mr.. Scott, OF Kona, who
is in close touch with the estate. He
has said frequently since coming up
last week, that he thought the planters
of the cane would be satisfied with low
wages right along, and that in his
opinion the expenditure of 81, 800 a week
would mean the harvesting of the crop
OF the plantation. He said further
that the contracts for the growing of
cane in the event of any one taking
over the proposition could readily De
changed to suit. and there might be
change to meet the views OF the
agent.
Should the plantation fail to recover
there would be heavy losses out of the
investment of something like $SOO,OOO
and some OF these would fall where il
would be a great hardship, too. One
widow has her all invested, and it
reaches into the fiVe-ngure size. while
there are number of men who have
no reCuperatiVe powers, and the COM
ing of any troubles will break them.
There are said ta be many stOrekeepgrs
who have carried the Kona warrants,
and who would not he able to weather
the storm of depression which would
follow a serious collapse i'm the stock,
The meeting of creditors this morn-
ing win show what may be expected,
and if there is any chance it viii be
grasped.
Judge Humphreys made the following
order yesterday in the kona sugar
Company case:
1t is hereby ordered that the parties
at interest herein be and they are
hereby directed to appear before me
on Friday, the 9TH day of March, a. ID
1902 at 10 o'clock a. m, and show cause
why this cause should not be down fol
hearing on hull, answer and such tes'
timony as may be properly adduced.
A. :. HUMPHREYS, First Judge