Evening bulletin. [volume] (Honolulu [Oahu, Hawaii]) 1895-1912, 1902-03-31
CORRESPONDENT THINKS
DIFFICULTIES INCREASED
Receiver Scott Very Non. COmmital On
What He Intends 10 DO-SOme
Stockholders Are in Actual
Want

Editor Evening Bulletln:-Our us
appointment was great when the Maui
ma Loa arrived with no money for the
Kona plantation. The Japanese had
been compelled to seek employment,
and quite number have left the dis
trict. 1t Is now doubtful If there are
men enough on the plantation to har-
vest the crop eXpeditiously.
Mr.. Scott to whom all looked as the
savior OF the place, was as non-com-
initial as a sphinx when he landed. 1t
became current on Thursday that an
application was TO be made to Judge
Edings on Friday morning for the APP
pointment OF a brand new receiver, and
II was understood that S. VI. Damon
had been offered the honor, and had
declined. Speculation was rife as to
whom the receiver would be. Some
said a fnancier with plenty of money
had at last been found. There were
doubling ones. however. who said that
Mr. Scott would be appointed, and
this came true, as he was appointed
without objection under a bond for
100000 which had not been furnished
up to the sailing Of the steamer Kinau.
This move Is. of course, to enable the
crop to be harvested, but many people
believe 1t is but delaying the evil day.
In case the crop is taken off, the
money, 1t is expected. in some myster-
ious way will go to the payment of the
unsecured creditors, and the stock
holders will thereby he all right. To
the thinking man, this Is not quit
clear. The crop Is conservatiyely esti-
mated at 5000 tons which will net. 10
the plantation. $50 per ton in HonO!u-
In, or $l5O.0O0. The expense of harvest
ing will he high. on account Of the de-
tached fields. Then there are lien
claimants to large amount, and back
rents. Then there is the difficulty OF
getting labor to harvest the crop, even
! If such thing were now possible. In
all probability II will not be possible to
| get labor to harvest this crop unless
some portion Of the amount due the
laborers Is raid.
Where, then, would there be any
thing for tn ecreditors? What about
the trustee for the bondholdeTs? Is he
going to see the plantation dismantled
in this way? II will be seen that nc
provision has been made in the fore.
going for the expense OF carrying on
the plantation, and preparing for the
next crop. When the present crop IL
OFF. what Is there left for the bond
holders?
| Who Is responsible for this terrible
mismanagement? 1t is the same story
, The poor people suffer. There is but
one man in particular here in Kona
who Is advanced in years, who has pu,
In three years of hard work, to finC
himself without food, even for himself
and family. II is believed that his Il
not the only case. There are man!
persons here who thought that a sal,
by the receiver was the only solution o.
the difficulty. There would have beer
a great loss to the unsecured creditors
and stockholders, to be sure. but tn,
plantation would undoubtedly. in tina
case, have been bought In by the bond
holders, who would be in position L
reorganlze 1t. In so doing they would
in all probability, protect all partiel
as far as in their power lay. Some
thing, In all probability, would have
been saved, and best OF all for us II
Kona, the enterprise would be per
petuated. There are persons, however
who are uncharitable enough to hin
that the large landholders have squeez
ed the plantation for exorbitant rents
that the plantation could get alonl
without the J. ID, Paris lease; that Il
the system Of planting under contrac
Is due, In a large measure, the disas
trous condition, and think that re
ceiver's sale would have wiped out al
OF these Objectionable features. II
that case the leeches which are suck
ing the life blood from this plantation
in whatever shape they exist, could b
: made to loose their hold. and the plan
tation, without them. would flourish
to the lasting benefit of this district.
CORRESPONDENT.
North Kona, Mar. 80, 1902.