The Pacific commercial advertiser. [volume] (Honolulu, Hawaiian Islands) 1885-1921, 1902-01-31
MORE STOCK
IN TREASURY
Rapid Transit is
In Very Good
Shape.
STOCKHOLDERS
NAME OFFICERS
Managers Report Shows Excellent
Work Being Done by
the Line.


holders of the Honolulu Rapid Transit
Company, held yesterday afternoon, the
corporation received the reports of its
officers and chose a board of directors
and officers which show few changes
from that of last year
The reports show the company to be
in excellent financial condition. For
the purpose of extending the road the
stockholders decided that the capital
stock of the company should be in
creased to 100000, addition of $780,
600 to its capitalization.
The meeting of the company was a
large one, there being 2,O51 shares out
of a total of $500, represented. The
elections resulted as follows: President,
L. A. Thurston; vice president, J. B.
Atherton; secretary, J. A. Gilman;
treasurer, L. r. Peck; auditor, Charles
II. Atherton; directors in addition to
the above, w. r. Castle, George Castle
and J. H. Fisher. c. G. Ballentyne
the manager, was also made a director
ex-officio. The report of the manager
which was read at the meeting, sets
forth the condition of the company in
full and is as follows:
The Stockholders of the Honolulu Rapid
Transit and Land Company, Homo
lulu:
Gentlemen:-In presenting this third
annual report your manager is glad to
be able to state that after experiencing
the delays and setbacks with which you
are all more or less familiar, the COM
pany completed the installation of it's
power plant and the construction of its
roadbed and overhead structure from
Alexander street, on Wilder avenue to
Wyliie street, on Liliha, via Hotel and
King streets, distance of 4,726 feet,
and on the 31st of August the operation
| of this part of system was begun,
| the Governor of the Territory, with APP
! propriate ceremonies, turning the throttle
valve and wishing the company the sue
cess it deserved by reason of the install
| lation of a plant of such superior char
acter.
| On the 23rd of April contract was en-
! tered into between the Rapid Transit
Company and the trustees of the Oahu
College and the Island Realty Company
! for the extension of the company'S tracks
| from the intersection of Punahou street
and Wilder avenue to and through the
| land tracts of the Oahu College and the
| Island Realty Company, a distance of
1856 feet, they agreeing to supply all the
ballast, perform all the labor required in
laying the tracks and building the over
head structure, and pay a bonus of ST.
1
supplying the track and overhead mate
rial. This extension was completed, and
operation, in accordance with the re-
Quirements of the contract, was begun on
October 31St.
| On the 31st of October contract was
entered into with James S. Mckee for
the construction of an extension COM
mencing at the junction of King and Lii
| liha streets, to Kalihi, a distance of 10 go
| feet. This contract was completed as
IN the Ira COMMANDS stables
and operation of this portion of the road
was begun on November 21st. The re-
naming portion of this extension was
completed on December Sth and the serv-
! ice extended to Kalihi. This gives a
! total track mileage in operation, includ-
! ing turnouts, of S44 miles.
These lines are now being operated in
three sections, known as the main line,
extending from Alexander street and
Wilder avenue to Kalihi; the 'Liliha
street line" from Wyllie to King street.
with transfer point at King street; and
the "Manoa Valley line" with a transfer
point at Punahou corner.
Your directors are glad to be able to
inform you that the success met with in
the operation of these various lines has
exceeded their fondest expectations, the
income not only meeting the expense ac-
count but far exceeding 1t. The income
TO December 31st-four moGths--was
s42, S99.S5. and the operating expense &C
count, S24, 10000; leaving balance of slS,-
609.65, or Sc clio per cent of the income,
which IS certainly a very favorable show
| ing. and one with which the shareholders
have every reason TO be satisfied. As our
mileage increases we hope to be able to
make even more favorable showing.
! especially so when we have our lines eX-
tended TO Waikiki and King street.
One item to which 1 wish to draw your
attention is the fact that there has been
but one serious accident, and the COM
pany was entirely exonerated for respon-
tIera Hr-. T,a irrrx a
where everything is new and the great
majority of the motormen and conduc-
| tors without previous experience, this is
! a showing that cannot be excelled by any
road in the United States.
| We are now operating ten regular cars
with four extras during the heavy morn
| ing and evening traffic. At this date we
| have Is motor cars and four traliers set
up and ready to operate. Our entire car
| equipment will consist of 35 motor cars
and 10 trailers.
FUTURE EXTENSIONS.
| A contract is about to be entered into
for the extension of our main line from
the corner of Wilder avenue and Alexan-
der street to the Waikiki road at or near
the KaIia Cor John Ena) road a distance
of about S 10 feet. This line will follow
| Alexander street to Beretania street, Ber
etania street to McCully street, and Nc
Gully street TO and across the McCully
tract to the Waikiki road. This will ne
| CeSSltate q rock Ill across the McIulE
tract, which will be made at the expense
lof the Waikiki Land and Loan Associa-
ton. 1t is expected before this work has
been completed that arrangements will
be made for the extension of the line to
and through the Kapiolani Park. After
this has been completed, the construction
of the King street line will be begun.
This line will then constitute the main
| line to Waikiki. with a transfer point at
| McCulIy and King streets, for the line
now in operation. Consideration has also
been given to the construction OF a line
| commencing at foot of Fort street and