Evening bulletin. [volume] (Honolulu [Oahu, Hawaii]) 1895-1912, 1904-09-24
SMALL STOCKHOLDERS AND
PLANTATIONS.

The apparent boom in Eva planta.
ton stock with the probability that
Eva will soon be free from bonded In.
debtedness, brings out an incident
which goes far toward proving tho
Justice of The Bulletins claim that
small stockholders should be taken
more generally and intimately into the
of plantation manage.
monts.
Not long ago n young man with o
small surplus sold his Ave shares OF
Eva stock at 1923 share. This was
n slight advance over the price ut
which he purchased. From all he
could learn from the talk Of the street
or the management at that time there
was no prospect of higher dividends
or a policy that would advance the
price of the stock. Within ten days
from the time he made his sale com.
mcnt was general ON the remarkably
bright prospects of Eva high dividends
and increased value of the stock.
It may be this young stakeholder
was not keen in his sizing up Of the
general sugar situation and Of Eva In
particular. Doubtless he was not, but
as n stockholder he was certainly en-.
titled to full and detailed Information.
He ought not to he forced to pick up
knowledge Of corporation plans from
the street. Though he held only Ave
shares, representing an investment OF
1900, he should have as intimate
knowledge of the condition Of the plan.
tation as the holder of 500 shares or a
controlling interest.
This incident serves merely as an
/ example for the contention that there
| should be no inside and outside among
I the stockholders or the management
Of our great industrial corporations.
There are plantation properties Ia
which the small holder Is more gen
! orally interested than Eva and many
NJ the older plantations of Its class
The small stockholders got in on tn,
new plantations to the everlasting
misfortune OF some OF the little fel
lows. Not all these small stockhold
crs. however. have lost all Of theil
savings through CANDLES in thes,
stocks. A good number held on"
gave mp luxuries, some necessities, II
order to complete payments and II
the hope that the turn Of the worlds
markets would eventually make theil
Investment n source of income.
Olaa Is n fair sample OF the nov
plantations In which the small stock
holders have their money. This prop
crty has had n varied experience. An
nual reports have been issued and an
nual meetings held. But what doe
the small stakeholder not In close con
nection with those controlling the des
tiny of the plantation know Of the de
tails of its progress that tell the stor!
Of It's future? What does the small
stockholder know of the value Of hi
holding beyond the struggle he ha
made to pay M and what he reads II
the stock.board quotations?
: Some day some plantation agenc
will take all stockholders into Its cor
, fdeHce and the result will he n bette
, feeling throughout the corporation,
/, better spirit of cooperation betwoe
, stockholders and management, create
/, enthusiasm for the necessities Of tn
, sugar industry. less speculation wit
oil Its attendant evils. more solid IL
, vestment, less financially ruined mel
, greater loyalty toward the general bu.
, mess interests Of the Territory.
Letting the small stakeholder know
, MS much OF the property In which h
has invested as the large holder Is a
experiment that Is at least worth
% trial test. There Is no reason VIII
!, stockholders should be left entirely
a. s.,l. ng .lF.r