The Hawaiian gazette., 1903-07-10
WIRELESS
FINANCES
ARRANGED.
New Deal Pays Off
Old Debts Of
Concern
(From Wednesdays Daily.)

BY the terms of an agreement reach
ed yesterday, between the creditors OF
the Inter-Island Telegraph Company
and the directors of that corporation.
the Wireless concern. the affairs of that
company are in fair way to be ad-
justed. Then Henry Waterhouse Trust
Company will act as the fiscal agent oil
the concern and will advance the
money necessary to place the system
in such physical condition as will en-
able 1t to take advantage of the subsidy
granted by the Legislature.
There were present at meeting held
yesterday morning representatives OF
all the heavy creditors of the concern.
The plans for the arrangement were
submitted at the suggestion of the men
who have had control Of the affairs OF
the Wireless Company. These con-
template the payment Of a substantial
advance against the bills outstanding
and the provision for the completion Of
the system. The Trust Company has
all arrangements made for the finance
ing of the proposition and as soon as
the papers are all signed placing the
company in its hands will order the
work to proceed.
BY the terms of the agreement the
Waterhouse concern will take complete
control of the working Of the Wireless
concern. The business will be trans
acted through its offices and there will
be nothing left of the old management
Some such arrangement as this Is nee
essary as the Wireless is now without
the aid which has been guaranteed for
year past by the business community.
This agreement expired with the open
ing of this month and 1t now becomes
necessary to arrange for the extensions
and improvements which will make
available the $1,000 month which will
enable the system to continue it's opera
ton.
The cash needed at once will be about
$500, which will pay most Of the bills
and salaries. Then the work will go on
In the putting in of the improvements.
Just what these will cost has not been
settled. There are still estimates to be
put in and until all are at hand, there
will be no definite estimate Of the total
of the cost. The immediate work Is the
conpletion- OF the Naw!ltwili station,
which will enable the opening Of COM
-munication with Kauai. There Is now
a proper pole In place and during the
week there will be tests made. The
BARRIERS Point station is ready for
work and communication will follow
Immediately upon the completion Of the
Kauai station.
The land lines will represent the larg-
est expenditure which will be necessary
in the rehabilitation Of the system.
About 100 miles of line must be built.
This will comprise the stretching OF
the wire from this city to BARRIERS s
Point, a distance of some thirty miles,
and from Mahukona to Hilo, ninety
miles. 1t is understood that the tele-
phone companies have agreed to per-
init the strnging Of the telegraph
wires upon their poles, which means
the escaping OF the heaviest portion of
the cost. The land lines are necessary
before there can be the proper connec-
tion as contemplated in the subsidy
bill.
1t is the plan to have the permanent
stations of the company Nawiliwili,
Barber's Point, Molokai Lahaina, Ma
hukona, as the Lanai station is to be
cut out very soon.