The Hawaiian gazette., 1902-03-28
WANT NEW
RECEIVER
Kona Stockhold-
ers Will Try it
Again.
drom rhursdays da.lg)

By the steamer Kinau yesterday
there went forward t' Hawaii "a copy
~ the proceedings of the First circuit
Court. disCharginE the receiver for Che
Kona Sugar Company. At The same
time went Instructions Co Attorney
nadewel for the company Co apply 60
Judge Edlngs Of the Knna Circuit
Court. for the appointment of reCely-
er for the property.
1t is understood that the same course
has been followed with the Judge there
as was taken with the First Judge OF
the local courts, In that he has been
asked II he considers the interests of
the investors would be served by the
appointment Of one who has some con-
cern In the salvation of the estate. His
answer was the same, that he did so
think. and that the name presented by
the creditors and stockholders was one
which appealed to him as being for the
interests OF all. II Is therefore with
confidence that the creditors who threw
the case into the local courts will make
a new application for receiver
The expectation is that the court In
Kona will select for the position Of re-
ceiver for the company NJ. +. Scott,
who has been greatly interested In the
concern from the first Mr. Scott has
made many preliminary Investigations,
and has reported to the stockholders
here that in his opinion there will be
no trouble in starting the mill, and
that in his opinion further there would
be no difficulty In arranging for the op-
Grafton of the railroad, as the money
from the sugar which is made this year
would pay for the entire line, and If
these payments are made on a perCen-
tage basis, there would be little diff
Guilty in securing the right to operate
the line for the hauling Of cane up to
the time the entire debt to the contrac-
tors is paid
with this outlook there is every belief
that the plans for the revivlng of the
estate, through its being handled by n
friendly court and receiver, win be sue
cessful. There have been made arrange
ments whereby there will be plenty Of
supplies forwarded, and the workmen
are said to be ready to push the har-
yestinE of the cane when they find
there is a prospect that the sugar viii
be taken off and sold. The work will
be of a light character for a time, ow-
ing to the fact that there are two
breaks I'm the railroad line, one about
four miles from the mill and the other
at the extreme end of its eight mile
length. These will be filled In at once
and after that is done there will be
no difficulties in the way of running
the mill for two shifts during the day
The mill will be started with the old
triple effect, as this was connected VI
after the order of Receiver Wunden.
berg that all work be stopped. The new
effect which was bought from Spreck
f.T a.
something like three tons an hour. viii
be put in place at once. This will give
the mill a capacity of about forty t.
forty-eight tons a day Of two shifts
There will be a ready sale for sugar
here at a price which viii permit the
plantation to carry on its work until
the end of the season, which will take
place about October LIST.
The sugar on the plantation viii bring
in something like $l50,0OO when the de-
terioratiOn which has resulted from the
months delay in court is taken int
consideration, and this il is though
will pay for the work of the season an,
the railroad, as well as the fixed charg
es of the estate. This viii leave only
three months without any sugar mex
year and the progress made with tn,
work will. it is expected, enable thi
estate to be worked safely and well
so that it will come to the next croI
without any difficulty.
The appointment of Receiver Scot
will be only temporary, If the second,
airy plans of stockholders are carried
out. The plans for carrying on the es,
tate have nothing to do with the visit
of Mr.. 5. NJ. Damon, yet it is the hops
Of the directors that he will consen
to take up the work OF managing thD
estate. II this arrangement can b.
effected the receivership OF Mr.. Scot
will be ended by a resignation and Mr.
Damon will be given charge of tn
property. This would men that the es
tate would be carried on with a goo,
supply of cash at once, the principa
debts cleared of and the whole thinl
put upon a basis Of permanency whicl
cannot be hoped for at present owinl