The Hawaiian gazette., 1903-08-04
WILLING TO
SELL kAMALO
Some Stockholders
Ready for Any.
thing.

The stockholders OF the Kamalo Su-
gar Co. at a meeting last evening au-
thorized the appointment OF a commit
tee to find purchasers for the planta-
ton. There was as well the election OF
a set OF new officers with the apparent
intention to reorganize the corporation
and the directors were given authority
to mortgage the property to pay the
debts amounting to 100000. Among the
smaller stockholders the sentiment APP
peared to favor the closing out OF the
concern at any cost though the larger
holders all seemed to favor retaining
control. DR.. A. Mouritz was elected
DUG Is6eV Il Il peeoons OF IeSeueW
Hitchcock was also displaced, while
there were numerous inquiries as to the
course to be pursued in relation to the
alleged shortage. There was talk also
that Hitchcock, who is deputy sheriff
on Molokai, held an execution against
the plantation and might foreclose at
any time.
There We're represented $4,000 shares
of stock at the meeting, of which DR..
Mouritz and l.. H. Dee represented the
majority.
The first business was the reading
of a report by the committee appointed
to examine into the accounts Of the
concern and of which DR.. G. w. Bur-
CESS was the chairman.
His report contained the letter which
was sent to Hitchcock and which
brought him to Honolulu in a hurry to
answer the charges. The committee re-
ported that he attempted to make an
inI
and that there were 1886 for which no
vouchers could be shown. Hitchcock
admitted that he had drawn on the
company's funds for his personal use
and made no statement in his books OF
the cash account from January i9ol,
to November, 1902. Hitchcock also had
promised to pay to the manager, Meyer,
5000 for salary out of his own pocket.
There was also check FOR $ooo given
to Hitchcock by Ouderkirk of which
there was no account, making the al
legged deficiency s795.55. The committee
found that Hitchcock was extremely
dilatory and negligent:
The cash balance of the company
amounts to s54.6S. An inventory OF the
property was also given.
NEW OFFICERS CHOSEN.
The officers were all UNANIMOUSLY
chosen, through Lucas raised his voice
against the election of DR.. Burgess
though he didn't seem to know why.
The officers elected were: G. w. Bur-
CESS. President; l.. H. Dee, 'Vice-Presi-
dent; David Dayton, Treasurer; A.
Barnes, Secretary; ]. Lightfoot, Audi
tor, DR.. Mouritz and J. j. Sullivan,
Directors.
Mr.. Cunningham made an inquiry
about the purchase Of property by
Mr.. Dee for the company to prevent
sacrifice upon execution, and Dee'
Douthitt, Lightfoot, and Magoon eX-
planned that there was an agreement
by which the purchase was made by
Dee for the company's benefit, and
because Kamalo could not hold more
than one thousand acres under the
Organic Act.
Mr.. Dee, when his motives were ques-
toned in this connection, said he had
stood in the breach during the suits
when George Davis ran away to
Washington and he had to get new
counsel.
Mr.. Dee wanted to know what was
to be done with the property and
Cunningham and Lucas said 'sell 1t
even If it brings only five cents on the
dollar"
DIR. Mouritz opposed this, and sug-
gested that only the smaller pieces Of
land which could not be used. be sold
in order to pay present expenses. He
said that Kamalo had been robbed in
front of his face, that Meyer was
Hitchcock's brother-in-law and did
whatever he said, that Hitchcock used
the plantation for his own pasture.
DIR. Burgess suggested that what
was not good for sugar might be used
for sisal, but Mouritz objected that
the company could not go into that en-
terprise. Dee said he could go out
and sell the plantation for $4,000 and
Lucas moved that he be authorized
to do it, and Cunningham offered him
half of what his shares would bring.
This finally crystallized into a mo-
ton for the appointment of a COM
mittee Of three to get offers. 1t was
stated that Pain wanted the land for
sisal and that Eben Low might buy 1t
for cattle raising. The chair appoint
ed on the committee, ]. Lightfoot, Dee
and Harrison.
Then Mr.. Dee moved that the man.
ager be replaced by DR.. Mouritz which
carried.
Mr.. Mouritz said he would serve
without pay and he was elected unani-
Mr.. Magoon moved to authorize the
to mortgage the plantation
to pay the debts, II necessary and
this carried after some discussion. The
meeting adjourned for two weeks.