The Pacific commercial advertiser. [volume] (Honolulu, Hawaiian Islands) 1885-1921, 1902-03-06

, id-iuS embraced in the plantation and
the lease which has been entered into
:; by the estate gives it certain powers
! which are said to be sufficient to cause
; trouble in the event of an attempted
sale. The contract contains a clause
which sets forth the reservation of the
lessons. that the lessee may not trans
fer the lands to another without the
consent of the owners Under this
put upon any transfer of the title to
+. the leases which comprise a large part
OF the best lands of the plantation. and
ii is further alleged that the attorneys
of the Kapiolani estate have been
ready for some time to inaugurate
proceedings to stop any sale which
might be made to include these lands
B. F. Dillingham;. when he heard of
the lengths to which the receivership
had gone, at once went out to see what
could be done. He said that his firm
had all the business he wished to un-
dertake at this time, but he gave his
energies to an endeavor to interest
some of the money men of the city in
the plantation. Mr.. Dillingham; said !
that It would never do to permit the |
Francisco that local sugar properties !
were in any way a speculation. The
men there who had taken up the plan
tation issues believed in them, but !
their confidence might be shattered if
they became convinced that there was
any lack of stability or any intent on
the part of courts to take summary
steps in such proceedings. He made
the offer to some of the men interested
that he would be one of the twenty
to subscribe to the 100000 fund needed
to carry on the work of the plantation
and would endeavor in every way to,
work for the success of the estate.
Mr. s NJ. Damon had not looked into
this feature fully, owing to the pres
ence of friends on the Ventura, and
would not discuss the plan. Speaking
generally me thought complete control
IF the affairs of the estate must pass
into the hands of some one before its
working could be hoped to be made
successful. In the event of an assign .
nent a minority stockholder might
make trouble for the assignee. The
1nly way, in his opinion, was to have
he plantation put so that there might
De no changes in the administration;
hat the man sending in his money
,ould depend upon the control of his
Investment.
Mr.. j. NJ. McChesney said after the
Meeting OF the creditors that he was
Il a loss to understand the moves of :
ne receiver, as there could be no
!oubt of the deterioration of the plan
alton once it lost its laborers. He
aid there was a plenty of provisions
o be had upon receivers certificates,
md he thought the receiver might very
veil have tried further before he went
o the extreme of disintegrating the :
orce Of !aborers. to recover which ,
would cost any successor to the pres
mt corporation a large sum.
Among the heavy stockholders of the
lan;ation is n Mr.. Scott, of Kona, who :
5 in close touch with the estate. He
as said frequently since coming up
ast week, that he thought the planters
( the cane would be satisfied with low :,
-ages right along, and that in his
plnion the expenditure OF $500 week :
-ould mean the harvesting of the crop o
I the plantation. He said further C
hat the contracts for the growing of -
ane in the event of any one taking q
yer the proposition could readily De
hanged to suit, and there might be W
hange TO meet the views of the :,
gent. b
Should the plantation fail to recover II
lere would be heavy losses out of the \
.vestmeat OF something like 100000. -.
nd some OF these would fall where it $;
ould be a great hardship, too. One a
idow has her all invested, and it u
aches into the five-figure size. while p
iere are a number of men who have b
D recuperative powers. and the COM fa
& Of any troubles will break them. ~
here are said to b. many storekeepers n
no have carried the Kona warrants. =