The Pacific commercial advertiser. [volume] (Honolulu, Hawaiian Islands) 1885-1921, 1902-08-21
COMMERCIAL NEWS.



Business conditions as reflected by
the serni-monthly circular of Berrey's
Commercial Agency are somewhat
easier The report which is just out is
as follows:
The purchase OF the Pain and Neu-
mann interests in the Lanai Ranch
Company, by Mr.. Charles Gay, of Kau-
al, at the public sale held in front of
the judiciary Building on August 18th,
created considerable interest among
bankers, (real estate) brokers and men
of affairs. The property was knocked
down to Mr.. Gay for the sum of $685.
O00 1t is said that in addition to this
amount Mr.. Gay will protect Mrs. Neu-
mann to the extent of her claim against
the porperty. Mr.. Gay has secured
control of the Irwin and Spreckels
lands on the island and in all proba-
bility will take over the Hayselden in
terest This will give him full posses
sion of the island. Mr.. Gay began
negotiations for the purchase of the
island, through Henry Warehouse &
Co. over one year ago. He estimates
ranging about 10000 head of sheep and
about 5000 head of cattle, when he gets
the ranch we'll underway.
Miss Kathryn Widdifield, by order of
the First Circuit Judge Humphreys,
will sell the McCully tract at public
auction on Saturday, the Both day of
August, to satisfy mortgage deed by
the Queens Hospital. The defendants
in the suit comprised the Waikiki Land
& Loan Association, Ltd, Ellen Nc
Gully Higgins, James Mckee, j. NJ.
McChesney, n. w. Griswold and Geo.
H. Paris. The court declared that Nc
Chesney, Griswold and Paris have no
interest in the premises.
The property consists of 140 acres
facing the Waikiki road and King
street.
The Waikiki Land & Loan Associa-
ton purchased this property of Mrs.
McCully Higgins nearly three years
ago for S140,vvv. The present amount
due on the mortgage is s137,371.71. This
mortgage was afterwards assigned to
the Queens Hospital by Mrs. Higgins
for 100000 advances. The sale is to be
subject to a mortgage of $4,000 given
by the Loan Association to James Nc
Kee. In all probability the tract will
fbe bought in by the McCully Land Co,
recently organized for the purpose of
taking over this property.
Judge Robinson has appointed c. F.
Reynolds, commissioner under $1,000
10 sell the quar- bIOCh at pNUiAS
sale, in order to satisfy a decree of
judgment rendered in the partition suit
of Lee Chu and c. K. Al against Isaac
Noar. There is a probability that the
matter will be settled by Mr.. Noar buy
ing out the opposing interests.
The Chinatown fire of Sunday morn
ing will entail losses of between $40, 900
to $4,000. The losses will be covered
by insurance TO the extent of about
$685. Secretary Gurrey, of the Board
of Underwriters does not believe the
fire to have been the work of an in !
cendiary. In all probability an inquest
will be held
The Hlo Mercantile Company Limit ,
ed, has been awarded the contract for ,
laying five miles of underground pip
ing for cable purposes, from the Wal A.,
kiki landing at Sans Souci, to the main
offices in the Young Building.
Bids for the construction of the
Cartwright Block, corner of
Fort and King streets. have just been
opened by architect Traphagen. 1t is
that the Hawaiian Con-
struction e. Engineering Company, F.
]. Amweg, manager. is the lowest bid
der The bid is in the neighborhood of
S17 900. This does not include the cost
Of the steel and terra Gotta.
The mortgage Indebtedness has in
creased since our last report $9e ,610.3S.
The following instruments nave been
lied the past fortnight: