The Pacific commercial advertiser. [volume] (Honolulu, Hawaiian Islands) 1885-1921, 1902-03-01
OAHU ROADS
IMPROVEMENT
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Although the business of the annual
meeting of the Oahu Railway and
Land Company was not concluded yes
terday. there was sufficient to show
that the affairs of the corporation were
IN excellent shape. The reports of both
the railway and the ranch department
were exhaustive, and gave the stock
1 holders an accurate idea of what the
corporation is doing, and it is hoped
/ it will do during the coming year.
There was very full attendance at
the directors room of Castle & Cookies
when the meeting was called to order
yesterday by the president. The first
business was the reports, and that of
the president was presented. President
Allen said that the earnings of the
corporation, net of the operating eX-
penses. were 1921, 5S0.97, from which
must be taken the interest and other
1 fixed charges, amounting to $145,266. IS,
showing net income of S276.214 10.
Dividends at the rate of per cent on
the s4,OO0,OOO of capital had been paid.
which left for the surplus account of
1901. $36,314.19
Receipts of the ranches amounted to
$40. $50 30 from which is deducted the
expense of maintaining them, $37. 013 a.
leaving a net gain from the ranches of
$50, So. So
In commenting upon the work of the
had been completed $40 feet of docks
and iron warehouses. loo 40 feet, with
all appliances, for the automatic car
rying OF sugar. The earnings of the
wharves and coal department We're
$50. $50. SO. To complete the terminal
facilities and the wharves there had
been written off. on account of the
tearing away of old wharves. SOS 05S. sc.
In concluding, the president said
that there We're prospects of larger
earnings for the coming year. owing to
the fact that there was an outlook for
greater crops of sugar from the planta-
tions along the line of the railroad
Acting General Manager CT. p. Den
nison reported that the physical con-
dition OF the line was excellent, and
that the new wharves gave great ia
cility in the handling of cargo, al
though they would have to be increas-
ed. owing to the fact that there were
being made additions to the fleet of the
Hawaiian-American Steamship Compa-
ny. SO that another wharf shed would
have to be built.
1t was set forth also that il is eX-
pected during this year to have an
extension of Queen street from it's
present turning toward King street
which would involve new bridge over
the Nuuanu stream, and when this
was done there would be built a road
way along the head of the harbor line.
which would greatly reduce the
of draying necessary. Com
upon the new construction of
cars for the road. the superintendent
said that in the making of these ears
there was necessary TO import only the
steel springs. holsters and wheels. The
expenses OF the railroad department
we're set down at 1926. 095.91.
The reports were ordered filed and
printed for distribution among the
The stockholders then took up the
of several amendments to
he bylaws. which We're said to be
purely formal. growing out of the de-
OF the business since its m
AS this was a long sub
ect the meeting had to be adjourned
q give way to another meeting, and
here will be further discussion one
reek from yesterday. At that time the
Ulcers of the company will be elected.