The Pacific commercial advertiser. [volume] (Honolulu, Hawaiian Islands) 1885-1921, 1904-05-25

was due in pay rolls and bills payable.
S., 3S1.04; while the obligations due to
i the company amounted to S7,7s6.55. The
50 per cent due on the 81 shares was
Immediately called in and all paid
At the meeting of the Board of Dr.
| rectors on May 18th, resolution
was passed TO recommend to the stock
/ holders the Increase of the capital
stock to $75,0a0. $4,000 to be distribute
| ed as dividend and $4,000 to be
placed as treasury stock to be sold aid
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 SIS, 900
have been disposed OF to the date of
March LIST, leaving in treasury stock,
1877 unso1d shares.
At the close of our 9Th fiscal year,
February 18th, 1904, the treasurer S
books show capital accounts, including
the treasury stock, to be $50, 344.T3. In
cuItivating there has been expended
the amount of se.62s.4s; harvesting,
$412.5O: manufacture. $1.249.77; our
general accounts. including all salaries,
$4,35216; and the personal accounts,
$119.56. Our capital stock is now $75,-
600, 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 1856. 70, received fer
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.
TIE 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 SIS
inches of rainfall reported at that dis
tTict 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 sisaI
comes the rapid growth of brush and
weeds, necessitatfng 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 correct account be kept with
each crop and field.
During the fiscal year, after the
new books were procured and opened,
the treasurer has taken off 6 full trial
balances and herewith appends the
final one for the. close Of the year, Feb
ruary 18th. 1904.
The auditor has made a full and
complete examination of the books and
vouchers of the company for the year
and have pleasure in attaching his
report and certificate hereto
In closing this, my 9Th annual report,
have only to say I believe the COM
pany's affairs will be found to be in
a healthy and fourishing condition.
The portable track which is now in
operation will greatly facilitate the
transportation of the crop to the mill
and can be added to from time to time.
strongly urge upon the company to
extend its operations by the sale of the
remaining treasury stock and the en-
ployment of a larger capital
Very respectfully submitted.
WALTER c.. WELDON,
Treasurer H. F. Co.
sECRETARY's REPORT.
Since the fifth annual meeting of the
stockholders, held on February 2Sth,
1908, there has been one special meet