The Pacific commercial advertiser. [volume] (Honolulu, Hawaiian Islands) 1885-1921, 1904-12-09
Continued from Yesterday


From the foregoing brief outline Of
agricultural opportunities TO be found
IN Hawaii, we will turn to the splendid
chances for investment offered here, and
to the dominating island industry Of
sugar production The sugar industry
has. made Hawaii what II Is today; has
| created almost all the existing wealth OF
the group. and out OF total value OF
| export shipments during the fiscal year
ending June 80, 1908, of SEQ cot
sugar alone furnished S25, 3Io,725. In
other words, there were, apart from
sugar, less than 100000 of other
domestic merchandise exported to the
United States and foreign countries.
There are on the islands today some
| thing over 100000 acres planted to sugar,
or the crop OF cane, OF over 100000 acres.
marketed each year. and which furnished
during the year 1908 a total crop of
437.ooT tons OF raw sugar to the re-
hneries IN the States. This great crop
OF last year was against crop OF
Io6,43e tons IN 1894, gain OF 27I55o
tons since the fall OF the monarchy,
eleven wears ago. The sugar crop of
1908 was produced on seyenty-one plan
fatioTls scattered over the four islands
OF Hawaii, Mani. Oahu and. Kauai, or.
with a pro rata production OF 9, I6o tons
of sugar per plantation. I his is not, OF
course. sustained by the actual facts. as
some OF the plantations are but small
affairs while some OF the great planta-
tons produced over 10000 tons each. ALI
OF The plantations on Oahu, and many
on the other islands, are irrigated and
fortified and these produce phenomenal
~ per acre, the great Eva plantation,
on Oahu. averaging I-2 tons OF raw
sugar to each acre of cane The general
average on all the plantations, irrigated
and f1on-irrigated. was a little better
than four tons OF sugar per acre This
IS remarkable yield when compared
with Cuba and the United States, but
the cane grown in Hawaii IS much richer
IN sugar Juice than the other sections
named. and here it takes only about
7 81 tons of cane to produce a ton OF
sugar. as compared with ten tons of
Cuban cane TO produce the same results
A large proportion OF available cane
land IS under cultivation. but it IS prob
able that with what land may be further
brought under cane, and with future
economies OF production to be effected,
the total yield OF sugar on the islands
may be Increased TO approximately Co.,
GOO tons.
1 lie f1dWdlidH BfdfAIditO4tS dig TIC lC-
suit OF the greatest scientific develop
rnent and thorough business acuInen, and
we do not know of any other industry
controlled by SO small a Number OF
business men, that has shown such as
tonishInp financial success. The pianta-
ton mills. several OF which have grind |
ing capacity of 500 tons of cane per
day the enormous pumping plants and /
other permanent improvements. are of /
the latest and most expensive character, /
when considered from the point of view |
Of first cost. but their introduction has |
effected such economies that profits were |
realized even during the very low price
that sugar reached recently. The profits /
OF some of the larger plantations are
considerably IN excess of 81 100000 year
". and this in face OF sugar at some |
thing less than SIS per ton A few OF /
the sup-- plantations are bonded to some t
e-tert I'D few of these bonds are |
at present available for investment pur
chase A large part of these bonds have
been taken over and held by local banks,
and therefore the estimation in which
they are held by local flnanciers IS aD-
parent. So far as we know, none OF
the bond issues exceed the bare cost OF I
permanent improvements. without con-
sidering the value of lands held IN feel
simple, or the productivity OF large
blocks OF land under fIfty-year leases
both OF which form important additional
security. Thus TAR there has never been
a default in interest or principal on aTIv-
plantation bond, except in one case
where small plantation was started
BY inexperienced men. under very ad-
verse conditions OF soil and surround
ings-
As the object OF the writer has been.
IN visiting Hawaii. TO investigate as
carefully as possible the investment
features offered by the islands, con-
siderable care has been taken 10 OBJ
tain information on the sugar bonds
and the character OF the security back
Of them. Our Investigations lead us to
believe that nowhere IN the States can
such excellent bonds be obtained as
are now offered by the Hawaiian sugar
plantations. They all bear 8 per cent
interest, and are redeerrlable by number
drawn BY lot any time after a specified
date. after which, If the bonds are not
presented for redernntIon, interest ceases
These bonds are an exceedingly choice
investment for conservative capital. trust
funds and ether moneys where security
S the first consideration. while al the
same time they offer rate CT interest
hat viii prove very attractive 70 such
81 cur investors that have lately been
themselves with present r-il-
ng low rates These bonds should be
ooked into Al very early date and
my OF the leading banks OF Honolulu
vii be glad 70 furnish fall information
o intending investors If
To capitalists and Others that can az
ord 10 wait short tine for interest
-etnrTs tF7e sugar stocks Of sugar plan
atoms offer tempting opportunities iustl
L the present time The receEt low;
,rices OF sugar. dIle II z great measure
0 the Cuban reciprocity treaty. have
depressed the value OF local stocks 70
point where they should prove 2 highly
desirable purchase Holders CT tleseI
tocks VII realize laroe profits n thei
lear future and TIE class Of investors
e have named ought nor to lose airy