The Pacific commercial advertiser. [volume] (Honolulu, Hawaiian Islands) 1885-1921, 1902-03-06
Will Meet Again to Discuss Plans for
Raising Money to Take
Off the Crops.
Report That the Receiver Will Direct the Dis.
charge of Every Laborer and Keep
Only the Caretakers.

A
pany are moving with vigor TO saw
| the plantation from impending ruin
Meetings were held yesterday and an
other will take place this morning
/ which may result in the complete turn
ing over of the affairs of the plantation
to another factor than a receiver ap
the crops now coming on for the benefit
OF the stockholders.
The committee appointed by the cred
itors yesterday afternoon will wait up
ing and try to make an arrangement
by which the Mauna Loa will no. be
dispatched for Kona ports until the
stockholders and creditors have reach
add to the feeling of confidence which
has lately been expressed by those at
interest in the matter, B. F. DillinS-
ham yesterday took up the matter of
Of men in the city. whose relations
with business affairs are such that they
feel great interest IN financial stabil-
ity and asked them to help in the sal
vat!cn OF the property.
The activity OF the creditors OF the
company was Gue to tn. fact that il
Ercame kncwn early in the day that
the receiver had signified his intention
to write to the manager OF the
plantation. directing that al 1.-The labor
ers be discharged and She force "f
Ar. e:it ans De reduced To n number suf-
fcient only to guard the movable prop
erty Of the corporation. This letter, it
1t alleged was mentioned to several OF
those Interested in the plantation. and
they at once urged that il be not sent,
but there was no decision communicat-
ed to them other than the original cne.
The fact that this is regarded "a tbe
very worst thing that could happen to
he estate caused the creditors to get
and thus make an endeavor
to secure backing sufficient to carry
Inc plantation through.
The meeting of the creditors OF the
plantation was held in the offices of
Ballou and McClanahan, and
here were present representatives of
he bondholders. the Kapiolani estate
md some OF the stockholders OF the
The discussion was along
he line of keeping the estate going, so
hat there might be no deterioration in
'alues growing out OF discharge and
of the force OF laborers.
[ was stated at the meeting that if
he receiver should discharge the men
/ would mean that they would disap-
ear among the other plantations. and
he expense of rehabilitating the plan
alton in the matter of labor would
each $4,000. There was a long talk
yer the affairs which have led TO the
ecision OF the receiver to sell, and the
ecision was unanimous that if the la
-ould not bring more than a very
mall sum at forced sale. After this
ecision the determination to ask a
ommittee to call upon the steamship
eople and endeavor to secure time for
ne bringing together of the creditors.
, that there may not be this danger OF
eavy loss. was reached.
The basis upon which the creditors
ave moved so far is that there should
2 an assignment made. the present
lit being withdrawn. and the affairs
the plantation placed in the hands ,
s. W. Damon. OF Bishop & Company. {
, assignee. This was the common {
,ssip of the street during the after
,on, and many of the creditors seem
believe that this could be effected
was rumored. also. that the kapio-
nj estate stood ready to act in the ,
-ent Of an attempted pressure upon
e part Of the officer OF the court 10 ,
II the estate without doing any more =,
save some of the growing crop for r
Q benefit OF the plantation stoekhold- i
:.
The estate owns some 400 acres Of the y