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

ing of the stockholders and twelve
meetings of the Board of Directors ur
to the cali for the regular annual
meeting fer February 29th 1904.
On account of the absence of the
President and also Mr.. b. F. Dilling-
ham from the city, few. We're in at
tendance at the annual meeting, and
the same was adjourned subject to call
on the return of the President.
Since the last annual meeting salts
factory adjustment has been made
with the Eva Plantation Company for
lands and sisaI taken by them and no
further difficulty is anticipated.
The o. r. & L. Co., have made a
better rate for transportation of fibre
and We have also obtained satisfactory
rate with the American Hawaiian
Steamship Co, who take the fibre di-
rect from the Railway dock and save
the hauling across town.
In April, 1903. Mr.. Dillingham;, in
conjunction with the secretary, made
an exam nation of the cost and ex-
penses of sisal production to March
LIST, 1903, based upon the area as fur
nished us by the. manager and the
same was published, giving a thorough
revise Of the cost and situation. Since
however. a complete survey of the
lands has been made; by Mr.. Jas. Z.
Taylor, and proper correction made in
area and map and blue prints provid-
ed; this would affect the figures as
given as the result of the examina-
ton above referred to.
At the meeting of the Board of Dr.
rectors, May 18th. 1908, 1t was moved
to recommend to the stockholders an
increase of the capital stock from $751;
500 to $4,000; s12.500 of such increase
to be allotted as a. stock dividend, pro
rata to the stockholders At the spe-
ciaI meeting Of the stockholders on
May 23rd, the recommendation Of the
directors was fully confirmed and the
stock has been since so issued
In June 1908, the resignation of Mr.,
Turner, as manager, was accepted and
Mr.. B. H. Smith was duly appointed
as successor, and took possession as
manager, on July LIST, and has since
extended the planted area nearly 300
acres, account, of which he will en-
body in his own general report
The secretary has made several
trips to the plantation, comforting with
the manager and as always found the
work carried forward in a business
in excellent condition. Two shipments
of fibre were made since the annual
meeting. and as on former occasions
both shipments received the highest
market price at the time During the
past year the growth of the plants has
been slow, and our experience has
proven that the former cutting was a
little too close and severe on the plants.
but since the date for our annual meet
ing harvesting has commenced and
one shipment of fibre has gone for
ward by the last trip of the steamship
Nevadan. Our last quotations from
New York is s IA cents per pound.
The manager will report to you of
the additional area cleared and plant
ed and the fencing which has been
constructed.
On retirement of Mr.. Ashley as
auditor, Mr.. w. NJ. Graham was APP
pointed his successor and has served
as such for the year.
The directors made a visit to the
plantation in April OF 1908, and advised
the extending of the planted area;
since then a committee, in company
with Mr.. Paxton of the railroad and
Mr.. Won Holt for the ranch interests,
visited the plantation and conferred
with the manager with reference to
lands which have since been taken up
and planted