The Pacific commercial advertiser. [volume] (Honolulu, Hawaiian Islands) 1885-1921, 1902-05-17

t,r,st OF the Mackay cable. is encour-g-
| ing TO the busnt - community. Mr.. DICK
cuson. who t. n cable expert. Is eSpcrie ne
ing some difficulty In selecting site for
the cable landing. and will return L San
| Francisco on wCdne sday Of next week
| TO ascertain the drauEht OF the ship that
will be engaged In laying the cable. and
other matters in connection Herewith.
Mr.. Dickinson estimates that the cable
/ should be in operation between the main
land and Honolulu by the 18th day Of Mo-
vember next. and in setting this date he
i is allowing one months delay for unfore-
seen difficulties. Mr.. Dickinson viii re-
| turn to Honolulu quickly as possible.
| The published statement TO the effect
that the Australia will ran direct between
Hiio and San Francisco and that the
Alameda and Mariposa will touch at Ho-
nolulu en- route from San Francisco to
| Tahiti. was good news. Messrs. w. G..
Irwin & Co. the local agents Of the Gee
anic Steamship Co. do not verify the re-
port. however.
The Honolulu Rapid Transit & Land Co.
held two important meetings last week:
At these meetings IL was decided to in
crease the present bonded Indebtedness
Of $4,000 TO Si.00.000. to be used at any
time In the future in the further devel-
Opment Of the system which is required
The capitalization was also increased to
81. 900 GO. not To be issued at this time.
The large bond brokerage house of Rol-
Inns & Sons. of New York and Boston
have taken $4,000 worth OF bonds OF
this amount but 100000 was in the treas
ury Of the Rapid Transit Company. the
remaining s29.O00 being exchanged
through local holders. for 6 per cent pre-
ferred stock. TO be transferred 1T any
time at the option Of the holder into
common stock Of the company. With
the completion II these arrangements the
Transit Company will imme diately con-
struct the King street line from Palama
chapel to McCully street. down McCully
street to the Waikiki road. thence on 10
the end OF Kapioiani Park. ending at the
Campbell residence. The King street line
Will be connected with the Wilder ave
nue. line via Alexander street. Another
branch will be built. beginning at the cor
ner OF Fort and Queen streets. running
rv'akai % the water front. thence up along
the water front 70 Aialca street up Ala
"a street into Emma street. along En-
ma street 10 the extension Of the Kua-
KIM road. To Nuuanu avenue. and thence
up to the brick yards. With this line
finished. eighteen miles Of track will be
In operation.
few local wholesalers are eNtcrting
every effort To bring about n combine
with local merchants which viii put fu-
ture business on cash basis. The null
tpiiclty Of failures among the Oriental
merchants - responsible FOR this.
The Oregon Building Company has ef-
aucial difficulties. in the hands OF W. W.
Harris. Of Levers & Cooke. as trustee
for its creditors. All revenue from the
property will be- applied on the indebt-
tdnsss. The life Of the trust s. for two
years. az which time final settlement must
b. made.
II Is quite likely that the Initial INSTALL
mCut on the first five hundred fire claims
viii BE- paid In warrants within the next
ton days or two weeks. Chairman Mac
fariauc % the Commission says that moth
irE Dc Unite has been decided in the prem
isls =. but every effort - being made by
thu government To relieve the sufferers
Foreclosure proceedings win shortly be
By Mrs Ellen McCuiiy Higgins
against the Waiiiki Land * Loan Asso-
citation. for the payment OF a mortgage /
given By the corporation In the purchase /.
u the McCuiiy tract
\ feature - the stock market IL the /
sale 81 a block 81 go shares OF Honolulu 4
Rapid Transit * Land Co. stock belong /
Ing Co Aiev. Young. at par: the purchas- i
IRIS being local parties. 4 number OF .
small blocks Of Eva changed hands ut .
'-iW. there were transfers OF Hawaiian Il
Sugar nj -. although trading ut present 7
= slow at this figure. Considerable X hei .
has been bought by one broker ut $3.50: .
s.cBrydc Sugar Co. sold rcgdly NJ 81 81: u
O.aa. assessable Is offered AT s. and paid
~ at $500: this stock has been dun since
he announcement by the agents that the
ass ssment of s. Will NJ called
n In four equal installm.nts Of s. every
wo months. beginning June e0;h. making
he entire stock paid In By December 4.
9th. Sales Of Waialua were affected NJ
500 the closing quotation being $50 bid
$3.50 asked. \ small block OF Pioneer j
iill was reported At So
Among the miscellaneous stocks Inter
siand Steam Navigation Co. stock was
q ably advanced 10 $40 bid-no sellers.
would be very difficult To secure much /:
4 this stock under par. Hawaiian Elec-
rio Is offered at $500. Wilder Steam
hip Co At $3.50. Sales OF -. r. * L.
gsre effected at 50.
The bond quotations remain about the
anne. Dividends paid yesterday Were !
iutuai Telephone Co. 2i= per cent. o. II.
l.. Co. = per cent.
The mortgage indebtedness Of the ISL
nds has increased since our last report
Iii.705s5 u
The following Instruments have been 1
led the past fortnight: