The Pacific commercial advertiser. [volume] (Honolulu, Hawaiian Islands) 1885-1921, 1902-03-07
plan to Withdraw
' Receiverhip
Suit.
CREDITORS ARE
STILL FIGURING
Plan Said to be the Making Of
an Assisnment-Damon
is Wanted.

Nhen the circuit Court opens this
morning there Is an even chance that
the first thing to be done will be the
fling Of a motion to withdraw the suit
for a receiver for the Kona Sugar Co.
The matter Is still In allegiance and not
until this morning VIII final decision
be made by the men whose interests
are most involved.
This move in the matter OF the cor
poration was decided upon yesterday.
after there had been held many meet
irss OF the stockholders and creditors
OF the concern. There Is not yet the
money to finance the plantation in
sight. but there is a chance that IL will
br ready for the concern when the re-
ceIvership Is pau. The creditors OF the
company are doing all In their power
&c secure the consent OF some banker
TO take up the matter. and the negotia-
| tons which were inaugurated by p. F.
piIlingham yesterday are being press
y. though there was no development
Xkhich IL sufficient to- give more than a
hope that the outcome viii be favor
able
There was started yesterday a petit
tion among the stockholders of the
company asking Mr.. s. NJ. Damon OF
the firm of Bishop Sc Company. TO ac-
cept an assignment for the plantation
This was literally signed. but Mr.. Da-
mon yesterday afternoon said that he
had heard nothing OF any such move.
and that there had been no change In
the status OF the plantation in SO far
a. he was concerned. There is some
feeling that Mr.. Damon Will yet be per-
suaded to undertake the matter, fail
ing which there is another prospect
that Dillingham; &c Company. or some
other firm of factors, Will be induced
To make the step.
As IL looks now there viii be such
an arrangement as VIII enable the
plantation to continue its work The
creditors are said to be ready TO make
such arrangements as viii permit the
work to be prosecuted. This VIII mean
the running OF the railroad and the op-
Grafton Of the mill The representa-
tives Of the labor say there VIII be no
trouble made by that interest in the
harvesting OF the cane. and they Will
guarantee that the estate viii furnish
the cane to the mill as contemplated In
the contracts
Receiver Wundenberg said yesterday
that he could see nothing TO do but TO
liquidate the plantation. as he had
made every endeavor that man couid
make in this city to secure the money
TO carry on the operations Tne letter
which went forward to Manager cow
an in the Mauna Loa yesterday Is bas-
-.~Fs 10 ,rrr uxrh
permits the receiver to incur expense
for the purpose of preserving the live
stock and personal property of the es-
tate The letter says only that the
employees around the place shall De
suspended for the present, and this, ac-
cording to Mr.. Wundenberg. VIII not
affect the cane. except in that IL VIII
render IL harder to mill the product !
when such steps are undertaken Tne |
cane is not grown by the plantation
but by private planters, and tnese are
located all over the country ana 50
are responsible for the holding togeth-
er Of their own men. The regular Ia
Dor OF the plantation will not be affect
ed. speakfug in the general sense, as
for the past four months there has oeen
a practical stoppage Of the work ana
the men have found existence easy In /
the Kona country. i
Mr. wundenberg. however, arrangeu
for a credit for the manager. with the 1
local branch of Hackfeld & Company
which will enable the men who are re-
tanned 10 be kept in shape. There VIII
be plenty of food. but this has little
effect upon the laborers. as they suosis'
largely upon the products OF the coun-
try. II was found that of the supplies
which were provided by Receiver w uh-
da,bs-o~ rrhar he Was there, much OF i
-four and other groceries which were
drawn were sold later for half the reg
uIar price. as the men were not in need
and wanted the supplies only for the
return which they could secure from
their sale.
Receiver yundenberg has now closed
his labors until there is n hearing on
the part of the bill. He has ne says
exhausted the financial resources OF the
city 10 obtain the money needed. anu
when that was done he considered tha-