The Hawaiian gazette., 1904-05-27

urer's Report showed gross receipts of
$14,356.9s, expenditures s13,25S59, and
Bank Balance, s1,O9S.39; there had been
issued 375 shares of stock, par value
$780, on which there was an assessment
of so per cent due on 81 shares. There
was due in pay rolls and bills payable,
S5,3S1O4; while the obligations due to
the company amounted to s7,79655. The
% per cent due on the 81 shares was
Immediately called in and all paid.
AT the meeting of the Board of Di-
rectors on May 18th, a resolution
was passed to recommend to the stock
holders the increase of the capital
stock to $4,000, s12,5O0 to be distribute
ed as a dividend and s25,OOO to be
placed as treasury stock to be sold and
offered to the stockholders at par The
dividend stock was duly distributed
pro rata to the stockholders. and So
shares of the $50, to cover the $4,000
have been disposed Of to the date of
March 1st leaving in treasury stock,
1877 unsold shares.
At the close of our 9Th fiscal year,
February 29th, 1904, the treasurer's
books show capital accounts. including
the treasury stock, to be s63,344.73. In
cultivating there has been expended
the amount of $6,62S.4S; harvesting,
s412.5O; manufacture s1,249.77; our
general accounts, including all salaries,
$4,352.16; and the personal accounts,
$1l9.56. Our capital stock is now $75,-
900. and our bills payable, $1,000; with
all bills and accounts against the COM
pany full paid to the close of the fiscal
year.
The amount of s7,S55.7O, received for
fibre and plants was duly credited to
the crop account, as also the amount
of $912.45 received from the Eva Plan
tation Co., for the cultivated land and
plants taken by them.
The crop account stands debited
with $30,795.44, which is represented by
nearly 500 acres of planted sisal; 800
acres or more soon ready to crop or
harvest; and at this present date is
being cut. The harvesting from old
lots was retarded by too close cutting
in the first trimming, and the summer
was an exceedingly dry one; but S.5
inches of rainfall reported at that dis
trict for the entire year.
No valuation has been made for the
crops for the separate lots or fields
The recent February rains have put
the whole plantation IN fine appear
ance. but with the growth of sisal
comes the rapid growth of brush and
weeds, necessitating a larger expendi-
ture in wedding force. Now that the
fields are properly surveyed, I respect
fully suggest that each field be assign
ed its proportion of cost of crop and
that a correct account be kept with
each crop and field.
During the fiscal year, after the
new books We're procured and opened,
the treasurer has taken off G full trial
balances and herewith appends the
final one for the close of the year, Feb
ruary Goth, 1904.
The auditor has made full and
examination of the books and
of the company for the year
and / have pleasure in attaching his
report and certificate hereto
In closing this, my 9th annual report,
l have only to say believe the COM
pany's affairs Will be found to be in
n healthy and a flourishing condition.
The portable track which IL now In
operation will greatly facilitate the
of the crop to the mill
and can be added 10 from time To time.
l strongly urge upon the company TO
extend It's operations by the sale OF the
remaining treasury stock and the en-.
ployment of a larger capital,
Very respectfully submitted
WALTER g, WELDON,
Treasurer N, v, 90,
SnnIlIgpA RNla nIannnm