davidaulloa/AmericanStories huggingface dataset:
The Hawaiian gazette. [volume] (Honolulu [Oahu, Hawaii]) 1865-1918, 1905-04-21
THE TRAMWAYS PURCHASE.

In 1903 the Company purchased the
property, rights, and franchise of The
Hawaiian Tramways Company, Limit
ed, under the authority conferred upon
it by Section S4S of the Revised Laws
of Hawaii, which reads as follows:
"Section S4S. Right to Acquire
Other Franchises. The said associa-
ton and others shall have the right
to take either by purchase or lease, ali
or any part of the property, real and
personal, rights, privileges and Iran
chises, of any other railway, or of any
other light or power company, or of
any company having objects in whole
or in part similar to those by this
chapter authorized, and shall have
when so acquired and may exercise all
the rights, powers, privileges and fran
chises of such company, whether the
same shall be derived by charter or
act of the Legislature.
The actual cost thereof was $780,
10000, to provide for which has been
issued to this date of bonds $780,
000.00 and preferred stock $780, 100000,
the balance being paid from the treas,
ury, $4,000. so that at this date
april II, 1860 the total outstanding
stock of the Company amounts to
81, $50, 100000, and no more. This con
sists of common stock, $500, 100000, and
preferred stock, $3.50, 100000, while the
actual cash cost of the property of the
Company as of March 81, 1905, amount
ed to 1854, 461.s5.
In conclusion, the Board would re-
spectfully remind your Committee that
the whole question of alleged increase
of the capital stock of the Honolulu
Rapid Transit & Land Company was
raised in the House of Representatives
in the legislative session of 1908, by
House Resolution No. 1859, and after a
thorough review of the facts by the
Committee appointed Hereunder, re-
port was made and spread upon the
House Journal, holding it to be the
undisputed right of the Company to is
sue capital stock against the cost of
the property of the Company and TWEEN
ty-fve per cent in addition thereto. We
also beg to remind the honorable SEN
ate that the facts therein set forth
We're reviewed at that time by the
then Governor and Attorney General,
who conceded with and acquiesced in
all of the findings of the Committee. A
copy of the said report is submitted
herewith.
Trusting that the foregoing state
ment will receive due consideration by
the honorable Senate,
/ beg to remain, Sir,
Your obedient servant,
(Signed) L. T. PECK,
IN
The Hawaiian gazette. [volume] (Honolulu [Oahu, Hawaii]) 1865-1918, 1905-04-21

Capt. Sam Johnson of Co. f is work.
ing for Governor Carriers consent to
send a rifle team to the national con-
test at Seagirt, N. J., the Federal
Government footing the expense. 1t
is planned TO make up the team from
Honolulu, Waikiki and Hilo compa-
MES of the N G. H.
The Hawaiian gazette. [volume] (Honolulu [Oahu, Hawaii]) 1865-1918, 1905-04-21

apart (the extreme limit for nve.
minute run az twelve miles per hour
in order 10 allow time leeway for or.
binary stops, which, in laying out the
line, might in many eases have ooon
regarded, say, Ms an average 81 four,
consuming about seven seconds each,
thus leaving four and half minutes
Of clear running time at onc.ffth of a
mile per minute.
In the business district, where the
speed maximum was eight miles per
hour, the distances were shortened pro.
portionately.
The president stated that the officers
of the company in thus placing the
turnouts, felt that they were meeting
frankly and squarely the requirements
of the law, for by the foregoing plans
the cars could get over the road, max
ing fair average of stops, and do it
on time and without sny infraction of
the letter of the law.
In response to questioning by the
Attorney General, he admitted that to
make up lost time the cars would often
have to go faster than eight or twelve
miles an hour, as the case might be,
but claimed that it was but occasional
and that the public interests were
served by so doing He thought that
railroad companies had an inherent
right, as long as their schedules were
moderately timed as regarded the law,
to make UP lost time if it could be
done with safety to other travellers on
the streets. He further explained in
detail how interdependent all the lines
or divisions of the system were ard how
necessary it was to adhere to scneuuie
if the service was to be dependable and
efficient.
1t was, with the company, a rule of
operation that time losses of seven
minutes or less on any division or line
should be made up as quickly as was
consistent with safe running, the time
lost being regained gradually. Delays
of over seven minutes were allowed to
increase to ten minutes to avoid fast
running, as the schedule could not then
be regained soon enough to justify the
attempt.
He stated further that what the pat
rons wanted, and without which the
service would be farcical, was such reg
ularity of running that person accus-
toned to the schedule could go to any
street corner or station on the lines
at any time when car might be due
to pass. and board n car promptlv and
make further connections if necessary
at junction points with equal prompt
ness and satisfaction.
When asked what would be the re-
suit if slower Roadway were adopted,
Mr.. Peck answered that delays were al
ways nable to occur and should, if pos
sible be made no, but that the speed
limit would also have to be exceeded at
times on twelve-minute Roadway if
a schedule were to be maintained at all;
and as a schedule was absolutely nee
essary, the right to carry out a reason
able one should be conceded. To in
crease the Roadway to twelve minutes
would rob every passenger who lived
in the outskirts of the city of five min
utes on every trip. so that a twenty
five minute trip would be heightened to
thirty minutes, and the aggregate loss
of time to the travelling public would
l.. 4 L.
The Hawaiian gazette. [volume] (Honolulu [Oahu, Hawaii]) 1865-1918, 1905-04-21
THERAPIoN

Is sold by principal Chemists throughout the
world. Price in England 30 and 4 70. In or
dering, state which OF the three numbers re-
CURED, and observe that the word "Therapi
appears on British government Stamp Tin
white letters a red ground) afbxed TO
every package by order 81 His Majesty's Hon.
Commissioners. and without which 1t IL Q
forgery.
The Hawaiian gazette. [volume] (Honolulu [Oahu, Hawaii]) 1865-1918, 1905-04-21

The second liquor bill is much better
than the first but It is in vital need
of amendment. Section opens the
way to the location of saloons in any
part of Honolulu, Hilo. Waikiki and
other first, second and third-class post
Office towns, the only restriction being
as to sites within 200 feet of a school
or church building. One of the most
important considerations among citi-
zens OF this Territory Is to keep
saloons out OF residence districts
The Hawaiian gazette. [volume] (Honolulu [Oahu, Hawaii]) 1865-1918, 1905-04-21
President, II. r. T. & L. Co.
PRESIDENT PECK'S TESTIMONY.

The testimony given by Mr.. Peck
before Magistrate Dole Wednesday aft
ernoon was so inadequately given by
the evening Wpers that it is hereby
appended in more complete form:
The examination of l.. T. Peck, the
President of the Rapid Transit Com
pany, developed along the following
lines:
He had given much attention to the
question of time schedules of car head
way and the spacing of switches in
conference with the operating officers
of the company.
In the first place the road had been
constructed in piecemeal, and when 10
was possible to weld it into the pres
ent comprehensive system changes of
switches became necessary in order
that proper junction points might be
established affording at the same mo-
ment of time the greatest possible dis
tribution of traffic. He instanced, es-
pecially, in this connection the frequent
assembling % ears at Pawaa Junction,
where five ears at precise intervals left
simultaneously in as many different di-
rections, and explained how close con-
nections of the Punahou line had been
established there and at Beretania,
Alakea, Fort, Hotel and King streets
with cars of all the various lines.
Mr.. Peck then explained how the
switches were spaced. He stated that
the requirements of the statute had
been carefully considered in each cas-,
with reference to the eight-mile and
twelvemile speed limitations. me
! company in the outer districts had
The Hawaiian gazette. [volume] (Honolulu [Oahu, Hawaii]) 1865-1918, 1905-04-21
INCORPORATION FACTS.

The Honolulu Rapid Transit & Land
Company was incorporated August 80,
1898, by G.. H. Atherton, c. G.. Ballen.
tyne, Geo. r. Carter, j. b. Castle, and
j. II. Fisher, for themselves, associates
and successors, to take over and eff
fectuate that certain franchise granted
on July &, 1898, by. the Republic of
Hawaii, afterward ratified by the
terms Of the Organic Act, and approved
by the President of the United States
on the 25th day of June, 1900, which
granted to c. G. Ballentyne, +. j. Low
rev and others, or to such corporation
as might be organized by them, the
rights and privileges now owned and
possessed by this Company.
The capital stock was fixed at two
hundred thousand dollars, with the
right to extend the same from time to
time by the issue of new shares, not to
exceed in all the sum of two million
dollars.
The capital stock originally fixed at
S200,000.00 was increased in Septem
Der, 1899 to $500, 100000, and further in
creased in January, 1901, to $5000UU.0U
In January, 1902, it was increased to
$s00,000.00; in May, 1902, to $1,000
100000, and in May, 1903, to $780,
10000, where it now remains, and of
which at this date, $l,l50, 100000 has
been actually issued, consisting of
$500 shares of 6 per cent preferred
stock and 5000 shares of common
stock, now paying per cent dividends,
which represent approximately the full
earning capacity of the Company at
the present time. At no time has any
promotion stock been issued.
At the close of the year 1901, the
actual cash cost of the property of
the Company amounted to $797, S41 "a !;
at December 81, 1902, to 1858, 594.3S
at December 81, 1908, to 81 1894, 200.7S,
and at December 81, 1904, to $685.
S02.43.
The road was opened for operation
August 81, 1901, with six cars, oper-
ating upon four and a half miles or
track. At that time the Company
had invested $747,O3975. 1t had on
hand supplies costing $3,243.3s, and
cash, $2,075.49. There was owing to it
$S73.99 its total assets then being
$753,232.6l. Per contra, it owed to
banks, merchants, and others, on notes
and open accounts $2l1 1921; its out
standing bonds amounted to $500, 100000
and it had received from sales of stock
at par $242, 10000, the total liabilities
being S753.o326l
The Hawaiian gazette. [volume] (Honolulu [Oahu, Hawaii]) 1865-1918, 1905-04-21

The Alameda is due today with seven
days mail.
The Hawaiian gazette. [volume] (Honolulu [Oahu, Hawaii]) 1865-1918, 1905-04-21

s7i 81 the Revised Laws, which rea'ls
M followai
Section SCI. Increase of stock. II
shall not be lawful 10 increase the caps
itnl stock Of said corporation, at any
time in excess Of said two hundred
thousand dollars, unless the proposed
increase shall, when taken with the
said original capital stock, represent
only the actual cost of the property Of
the railway, and not over twenty-five
per cent Of such cost in addition there
to; such cost may include all expense
Of laying track and equipping the road
for public use, and may also include all
subsequent extensions, but no such in
crease shall be authorized for exten.
sions until they shall be determined
upon and authorized by n vote of the
corporation.
The bonding arrangements were com
pleted under the advice and direction
of the coast attorneys and local coun-
sci, and in consequence thereof, and OF
other prior readiustments with the
principal bondholders of the old bonds
here, the Company was soon placed up
on permanent financial basis.
The prior HONOLULU readjustments al
luded to came about in the following
manner.
The Hawaiian gazette. [volume] (Honolulu [Oahu, Hawaii]) 1865-1918, 1905-04-21
EARLY FINANCIAL TROUBLES.

At that time the above indebtedness
of $2ll, l62.6l was pressing. Local
banks had demanded the repayment of
loans, and certain creditors we're
threatening the Company with attach
ment suits. Further local assistance
was diligently sought for, and sought
for in vain. Sundry persons of wealth
and every financial institution in Ho-
nolulu were appealed to for funds. 1t
was demonstrated to them that the
road was at last in operation, with re-
suits to justify our approaches for
credit. Bat it was all without avail.
Thereupon certain of the principal
stock and pondholders made further
advances to the Company to steady,
temporarily, the credit of the concern,
while endeavors were continued here
and on the coast to secure additional
funds. A second series of bonds to
the extent of $l60,000.00 was author
lied, and after October, 1901, was used
up to $54,OU000 to secure temporary
emergency loans.
Finally the well known banking house
of +. ii. Rollins & Sons of Boston, Chi
cago, and San Francisco, was induced,
on our written representations, to make
a complete physical and financial exam
nation of the Company's property and
affairs, which resulted in a definite pro-
posal from that firm early in the year
1902 to purchase of the Company all of
its bonds which it could furnish up to
1915, 100000. This was contingent on
the creation by the Company of an en-.
tirely new bond issue of one million
dollars, $500, 100000 of which should be
used solely to take up and retire its
original issue, which, the bankers in
sisted, as a condition precedent, should
be first retired, and the balance, $780,
10000, be certified from time to time
as new track and equipment were pro-
vided, at the rate of $l5,000.00 per mile
in excess of the first sixteen miles of
main-track road.
The Board of Directors and the stock.
holders accepted the proposition of
Rollins & Sons, The greatest care was
taken by these investment bankers and
their attorneys to put forth bond is.
sue that could not be questioned by
investors and the best of legal talent
| took care of the issue.
Their attorneys, with whom leading
| iS'"' i""FniS J"ihcu' hoiu thdl, uhuel
the Hawaiian statute, which requires
that the capital stock of corporation
shall equal the amount of its debts, i
was necessary, upon the execution of {
mortgage for a milliondollar issue o.
bonds, that like amount of stock ha,
not only to be authorized, but be ac
tually issued to the stockholders, an,
that the Company had the undoubte,
right TO issue stock against the cost O.
all of its property and twenty-five pc
cent additional thereto, under Section
The Hawaiian gazette. [volume] (Honolulu [Oahu, Hawaii]) 1865-1918, 1905-04-21
THE BONDING ARRANGEMENTS.

In order that any substantial advan-
tage to the Company might accrue
from the above arrangements, then be-
ing discussed, it was agreed with GER
tain local holders of the old bonds own
ing to the extent of $209,00000 there
of, that they surrender said bonds for
the consideration of $209,000.00 par
value, of preferred stock and $31, $780,
90 par value, of common stock. BY this
exchange only was the Company able to
secure sufficient money to extrIcaue
itself from a condition of practical in
solvency, its stock and bonds being
then unstable, except at nominal
prices, and when the success of the
bond deal was assured, enough addi-
tional stock was sold at par to bring
the paid-up stock to $500,00000, con
sisting of common, 1921, 100000, and of
preferred, $209,000.00. At that time
the total cash cost of the property of
the Company was 1861, 212.92, and in
June, 1902, the capital stock was in
creased to $1,000, 100000 to meet the re-
quirements of the bond issue, for reas-
ons above set forth. This consisted
of common stock, S,91 100000, and of
preferred stock, $2O9,00O.0O.
The Hawaiian gazette. [volume] (Honolulu [Oahu, Hawaii]) 1865-1918, 1905-04-21

NoLe:-barometer readings are cor
rected for Temperature. Instrumental
errors, and local gravity. and reduced
to sea level. Average cloudhaess stated
In scale from 0 to 10. Direction of wina
10 prevailing direction during ~ k0ures
ending at p. m. Velocity Of wind In
average velocity In miles per hour.
ALEX. McC. ASHLEY,
Section Director. in Charge.
TIDES sim AND MOOpT.
The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1905-01-21
UNSETTLED WEATHER
RESTRICTS BUSINESS
Settlement of Fall River Strike
Encouraging WOODEN
Goods Higher .

NEW YORK, Jan. 2o.-R. g. Dun &
Co.'S weekly review of trade will,
tomorrow, say: eaAA tes1es4 .,E.{fs
Progress is more rapid in manufacture
due to the effect of unreasonable weather
at some points and the unsettled feeling
in the south. where the collapse of cotton
prices has retarded collections and caused
many cancellations. That production is
maintained by mills and furnaces may be
taken as evidence Of confidence in the
future. Iron and,steel plates led. in, activ-
ity. with wollens the feature in textile
fabrecS Settlement of the prOtra cted
labor struggle at Fall River is encourag-
ing, but the industrial atmosphere is, dis
there is less than.the customary. idleness
for this season.
Prices of newly opened lines of wooens
are higher, as was to be expected in view
of the position of the raw material, but
consumption is not curtailed. Similar
strength in footwear has restricted bust
ness. buyers in the Boston market report
ing few contracts Railway earnings for
January thus far show a gain of 2.3 per
cent. Foreign commerce at this port is
also better than a year ago, the last
value of imports and 1922, 1856 in exports.
Iron and Steel Firm
Scarcely any alteration in quotations of
iron and steel is the best possible guaran-
tee of continued activity. Conservatism
now controls the situation, holding prices
at a position that is attractive, consider
ing the volume of business and cost of
production. Coke ovens are establishing
new records of fuel output and traffic
conditions cause little delay Very extern
siye contracts for machinery are pending.
and a considerable quantity of pipes and
tubes are wanted, while the Pittsburg
mills are behind on deliveries of billets
and bars. Tin plate mills are not only
fully engaged, but have orders running
well into the future. Structural steel and
rails are quiet, although large contracts
are pending.
Hides are still firm as rule, except that
some declines are recorded on packer
native, as these constitute the bulk of
current receipts. This is a seasonable
influence and does not detract from the
general tone of strength
Failures for the week numbered 335 in
the United States, against 1858 last year,
and "a in Canada. compared with 33 a year
ago.
The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1905-01-21
THE GLOBES
PAYING WANTS
Few the Branch OFFICES Where Ads Are Received fol
"The Globes Payinu Wants

CONGER BROS, Druggists, Selby ave-
nue.. corner St. Adams: 499 Selby
avenue and $40 University avenue.
CAMPBELL BROS. Druggists. SeIby and
Victoria
s. H REEVES. Druggist. Seven Corners.
L. j. ABERWALD. Druggist. corner Rice
and Iglehart.
STRAIGHT BROS. Druggists, Rondo
and Grotto streets.
SEVER Wesley, Druggist. Maria ave-
nue. and East Third street.
w. A. FROST & CO.. Druggists. SeIby
and Western avenues.
RIETZKE & CO.. Druggists. Selby and
Western avenues
A. j. SCHUMACHER. Druggist. 499 West
Seventh street.
j. w. NELSON. Druggist, Dale and Uni
versity
C. T. HELLER. Druggist, Willard. st.
Peter and Tenth streets.
{. f. RUTHERFORD. Druggist, st. Peter
and Fourth streets.
j. p. JELINEK & CO., Druggists. 961
West Seventh street.
J. p. JELINEK & CO., Druggists. West
Seventh and Sherman streets.
w. K. COLLIER. Druggist East Seventh
street. corner Sibley.
A. A. CAMPBELL. Druggist. Louis and
Rondo streets.
II. L. MccOLL. Druggist. 483 Broadway:
DRIES PHARMACY. corner Ninth and
st. Peter streets.
GEORGE C. DAVENPORT & CO.. 972
East Seventh street. ~
The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1905-01-21
THE GLOBES
PAYING WANTS,

II. w DICKMAN. Druggist. $50 East
Seventh. corner Beech.
A. L. WOOLSEY. Druggist. Prior and ST
Anthony avenues.
P. H INCIDENTS. Druggist. Az Waba-
JOHN BoDIN & CO.. Druggists ss1
Payne avenue.
B. A. TREAT. Newsdealer. Az Broad
M. s. COURTNEY. Newsdealer. 47s Wa
w. E. LOWE, Prescription Pharmacist.
corner Twelfth and Robert streets
j. a. BATTOM, Druggist, 800 Jackson.
A. II. SONNEN, Druggist. STA Rice.
L. II. LUEDERS. Pharmacist, S79 Rice.
SUMMIT PHARMACY. 2S4 Rice. corner
Summit
WALTER NELSON. Druggist. 1876 Rice.
WALTER NELSON. Druggist. 1916 UNI
CAPITOL DRUG Co. Druggists. UNI
versity avenue and Rice street.
DR. MARKS, Pharmacy, lib s. Wabasha.
HALL, & KRAFT. Druggists. 42S s. Wa
HANS MADISON. Druggist. 1876 Concord.
ECLIPSE DRUG STORE, 113 S. Robert
G. A. WOLFROM, Druggist. 572 Kent.
D. C. KISSEL. Druggist, 561 Thomas.
F. A. HOLCOMB, Druggist. 954 Payne.
CENTRAL PHARMACY. Tenth and Wa
basha
EDMUND ]: FUCHS. Druggist, 1913 East
Seventh.
E. f. KEEPER. Druggist. $50 s. Robert.
G. F. UMLAND, Druggist. AL University.
The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1905-01-21
HIDES, PELTS, WOOL. ETC.

Quotations furnished by D, Bergman &
Co, ST. Paul:
Green salted heavy steer hides. 60 lbs.
No 1, &c; No. 2. Sc.
Green sailed cow hides, % lbs and up,
No. l, SAG; No. 2, SIC; branded. No. 1,
Green sailed bulls. stays and oxen, No
Green sailed veal calf skins, 8 to Is lbs,
No. /, 10&c; No. 2, SIC. p' - - - iDS'
:, Green sailed long haired kip. 8 to %
lbs; No l. 9Ac; No. 2, Sc.
!, Soc; No. 3, soc.
Green sailed skunk skins, No. 1, zoe.
Green sailed glue stock. 31sc.
Green sailed horse hides Qarge), Nc l.
No. 1, 81 so; No ?, ST. $500 ~ io-.,70'
Green and frozen hides. lie to 11sc less
Dry Montana butcher hides, short trim,
med, heavy: No. IL. 16-17c; light No.
IL, e lS-1 i;; long trimmed. heavy, No. L.
Dry fallen or murrain hides, all sections
No. 1, 12@13c.
Dry sailed hides No L, 12c; No. g. 1oc
Dry MinneSota, Wisconsin and Dakota,
hides. II lbs. and up, No, 1. bye; No. q,
Dry calf skins. No. 1, Ice; No. 2. lac.
eDry kip skins, No. 1, 12@14c; No. q,
9 Dry glue stock, SC.
Rendered tallow. No. 1, 4Ac; No. 2,
Grease, No 1, 4c; No. 2, Sc.
Rough tallow, I1bc
Sheep pelts. green, large, 81 to s1.4o;
actual weight; dry, territory murrain, 800
14c per lb actual weight; dry shearing,
&c to lOc per ID actual weight.
Wool, unwashed, Minnesota and Wis
consin: 1Sc to 24c per h.; unwashed, Da-
kota, tic to &c per lb.
Deerskins. dry. 25c to 40c per lb; green,
12lsc to 15c per ID.
Ginseng, Sc. rs to $3.50.
Seneca root, SIC to sec.
Bear. black, No: l large. 49,; No
nea arge ST. NO No. s medum sl2 s CUBS No No
small, 81 50; brown. No. i large g. 14: I'm No.
/ medium. SO. So No. 1 small So; cubs,
s mo: + i Ia g S. No. medium, 81; No.
Badger. No. large SIPS: No. 1
medium, 81: No. small. 75c.
Medium BfaHer 81 N g. No arg s@al So $ No
81. Fisher sll;; No, large. $3.50; No. medium.
E0x, silver ayer No ] large, 5000; No 1
large, IS: No. medium, Sc; No. small.
81. gray, No. i large. 81; No. i medium,
ST. M No. sm Medium n5c SIS re g. Nc a a5gs
S2.25; kits, No. | large, zoe: No. medium.
Soc; No. l small, 35c.
Otter dark dia No ! large SIS; No. /
pale No, 1 large. IS; No. medium. Sc;
MINK. darh- NO. large, SO. 90; No
medium, 81 so; No. small 81; brown
and pale, No. / large. s2.75: No. medium,
81; No. small. 81 80
ma anefo0s 81 26 So No ia sga s. 75e sS No
Marten. dark. No. large. $40; No. /
medium. s14: No. 1 SMALL 81: brown, No.
] large So; No; medium, S.; No. 1. small,
So so; No. l small, 81 So
Skunk. black. No. / large. s1.75; No. l
No. | large. 81; No. medium. 75c; No. /
small. Coo. -
:, Wolf; No; large 50 SO; No. / medium.
81 Sc; No small, ST.
wolverine. No. l large, 81: No. 1
medium, So: No. 1 small. 81
MnI1skrats, Wisconsin, large winter, 14e;
sInaIi winter and large fall, lie: small
IaHS Sc; Minnesota, large winter. lie:
slnan winter and large fail. &c: small fan,
above are quotations for prime No. /
TETS Nos 2, g., are unprime and worth