Evening bulletin. [volume] (Honolulu [Oahu, Hawaii]) 1895-1912, 1903-03-17

March II says Of the closing down OF
the California Hawaiian refinery re.
ported in the Bulletin cable dispatches:
A truce has been declared in the |
sugar war and the truce Is on a sub. |
stantial basis. Previous advances of
20 cents in sugar will in all probability |
be followed by further advance Of |
% cents today or tomorrow. The big
plant of the California and Hawaiian
Sugar Refining Company will be shut
down today. and was. to all intcnts
and purposes, closed yesterday. On
the best of authority IL Is stated that
the plant has been bought and abb
sorbed, together with all OF its con.
tr.acted.for raw products. by the Spree.
kcls Sugar Refining Company, for the
sugar trust.
No more interesting bit Of news has
come to the ears of the outsiders dur.
ing the recent progress of the sugar
war: and as a result the words along
the whole line for a tip on the outside
stocks is. Buy, buy, buy" The tip
/ few around yesterday and the day be.
fore when limitations of the Califor.
nia-Hawaiian deal became rife, and
the brokers will doubtless have dc.
LUCE of buying orders on the outside
stocks today.
The principal holders of the Califor.
mia. Hawaiian stock. which was all
closely held and never on the market,
We're WelCh & Co. with its constituent
plantations in the islands, Colonel Y.
s. Spaulding OF Honolulu, Brewer 4
Co, Honolulu, and Castle 4 Cooke, Ho-
noulu. The capitalization Of the com.
pany was between $3,OOO,OOO and &c..
10000
The taking over of the big plant and
property and existing contracts Of the
concern has been n step in the peace
tactics looked forward to by insiders
for some time and to those Informed Is
no surprise. For days the tip In the
street has been, Look out for some
thing big doing in sugar" but to the
small outsiders II has been n mystery
just what the big thing" was. 1t was
even known that Louis Saroni, one of
the biggest sugar dealers and handlers
in California, had tipped off the some
thing to his friends and that they had
in confidence bought sugar stocks
from the news he gave. That tho
deal was on was evident from the So
cent rise of Saturday, and yesterday it
was known that there would be rise
OF 25 cents more today or in the imme'
date future.
Heard Of the Deal.
The veteran broker in sugar stocks,
Edward POLITE. was told few days
ago that something was going to hap.
, pen in sugar, but did not learn until
; yesterday just the nature of 1t. Last
= night he said: Il have heard that tLe
California.IIawaiian Company was GO
} ing to be Immediately absorbed by the
) trust, but not until today did get any
thing like a substantial veriiiCation OF
ii. have no doubt that the deal has
been made, although while have been
recently in conversation with PTesi'
dent Rithet, Vice President Vesper and
the SpreCkcls, | have heard nothing
. from them on the subject. have just
: returned from the Hawaiian Islands
-
a there. Naturally, | am very much in
,terested in the situation. am frank
to say that my own diagnosis Is in ac
> cord with the information which
have received"
A sugar man. prominent In the bust
: ness throughout California, who could
not. obviously. and would not allow his
,1.,Nt
: said:
Il am told, on the highest authority
and my information comes straight
: that the pool OF the California inter
I Csts has been made, and that the fight
D. ing Is all OFF for good. There Is M
! question but the plant of the Calilor
II nia.Hawaiian concern has been takeT
a over
n 1t was learned that the big plant 81
! the company at Crockett was practi
Cally closed yesterday, as ii was worl,
- ing only ON such material as was part
ly transformed from the crude to thu
finished state. The only reason ascrih
at Crockett for the closing of thu
% Plant was that the raw material con
tIolled by the company, which was I,
Q have been worked up this summer, ha,
I. been sold to the Spreckels' or direct t
the sugar trust. II Is said in San Fran
b. cisco, however, that the Spreckels' act
r, ed as the agents OF the trust in tn
II deal.
While it Is given out that the mill /
to be closed for this season only, it /
e. not believed by any means by even out
Il, sidcrs or employees Of the compan
n that such Is the case. Information
"a which has leaked out from the insid
n directly contradicts this statement
"a While the plant may again he opel
ated there is no certainty as to whe
operations will be resumed The of
r. ,EAN..ALlu $40 Belt for SIS
~ ~ : E4gsa DIR. AIden's Electric Belt
~