The Pacific commercial advertiser. [volume] (Honolulu, Hawaiian Islands) 1885-1921, 1903-03-02
BFRREYS COMMERCIAL REPORT

been holding large sums of money for
long periods when the same might as
well be in circulation.
There is still solid opposition about
town to the revenue item of again i'm
posing the merchandise tax, but it is
favored by many members of the Leg
islature and by a goodly body OF citi-
zens in active business and interested
in various concerns. An effort will be
made at this session to provide for the
collection of poll taxes. though there
has been introduced in the house an act
to wipe out the poll tax entirely. The
sum involved is a large one and the
battle on the revenue item will be
sharp. Another interesting bit OF pro-
posed legislation is the Senate act to
provide for minority representation on
the directorates of corporations. The
California law is submitted and it
commands considerable support.
Lahaina, Maui, is to have National
bank, organized by the owners Of the
National bank at Wailuku. on the same
Island Actual local business is having
a healthy growth on the Island Of Ma
vi which is also promised enlivenment
by a spirited county seat contest in the
near future.
ANNUAL MEETINGS.
More than thirty corporations. nearly
all sugar companies, held their annual
meetings during the present month.
the stockholders were pleased with re-
ports submitted. Hawaiian Sugar and
Kahuku have announced the resump-
ton of dividends. Raw Sugar contin-
ues firm and while the advance is in
the small decimals, there is an advance
all the time. Four cent sugar within
eight weeks is predicted by the men
who make the figures. The shortage
of the Cuban crop is estimated at
12O, 900 tons. louisiana will be $4,000
tons short and Martinique, with its ex-
pected 10000 tons, reports total loss,
or practically no crop at all. Java has
had a drought for four months and
there will be falling off of at least
Is per cent. in the current crop. The
very large beet shortage of Europe has
already been reported and the latest
advices confirm the earlier accounts
of a falling off discouraging to the
planters and factors of Europe, but
happy things to merchants in raws
elsewhere. However, business contin-
ues light on the Honolulu Stock and
Bond Exchange, but with prices adj
vancing in everything listed.
INCREASED CONSUMPTION.
The annual Increase in the consulap- |
ion of sugar il. So per cent. with the
ten and a half millions of
-ons and the available supply given at |
line millions of tons. On the head |
If this 1t may be noted that the re-
lneries throughout the United States |
nave lately increased wages fifteen per |
,ent. This must mean nothing else
han several points more on refined SUI
,ar and that very soon.
It is believed the Territory is going
md there is earnest speculation on
What effect this will have on several
ines of business. The movement is an
organized one and the definite object is
from LIauaii 70 Opa oF thu
tates of old Mexico. The agent for the
and is here an6 the local people have
ent a representative to the ground
nd his report is expected in a very
hort time. The offer is for good lard1
t 81 an acre with fee simple title. An /
lasses of the Chinese here are inter
sted and many of them are well set-l
led in their minds on the project. The
arge bulk of the Chinese here have
cen talking emigration even before the
300 fire which hit them so hard. No
lore of their people are coming into
ne country, which curtails their rler-
handise field and they complain oper-
: that other Orientals have completely
ested them in several lines The Chi
csc are seriously injured. they say,
Y the determination of the local lap
nese to have Japanese rice only. Rice
with the Chinese has ne
ome almost a hopeless business.
SUGAR AND REALTY. {
Mr.. POLITE said lately that the pres
1T Hawaiian sugar crop should return !
100000 Kihti consolidation plans '
ave been dropped for the present c
early all of the plantation reports call i
-tention to retrenchment. Mr. Hede-
ann, who is home again after inspect I
e sugar plantations all over the J
orld, says that the manufacturing i