The Hawaiian gazette., 1908-05-05

of 1904, 3S4.S3, and reducing the floating
indebtedness of the plantation at the
end of this year to s13S,040.64. The
crop of 1909 is estimated at 6555 acres
yielding 21,3O4 tons, and an estimated
credit balance at the end of the year of
s1S7, 714.1O. The crop for 1910 is esti-
mates the same as for 1909. The esti-
mated credit balance at the end of
1910 is estimated at 31,31.67, less re-
auctions by capital expenditure of
$50, 900 during the three years, leaving
a credit balance s3S1,371.6 The crop
of 1911, it is estimated will be harvest
ed from 1000 acres and ought to yield
2S, 900 tons. Olaa owns, it is stated,
20, 900 acres of sugar lands and controls
by long leases several thousand acres
more. An area of 10000 acres has been
cleared. Mr.. Dillingham; discusses how
Lahaina cane came to be. first planted
on this estate and the reason why the
change to Yellow Caledonia was made,
and why it was necessary. One part
of his statement aroused very wide
spread and intimate interest. 1t was
the part where he said:
Zone has only to recall the quotation
VI DlOSh witch It's SoPitoi 40 OiiiJ
s5O000 and it's stock offered, in 1898,
at s65 to $40 per share, or a valuation
of say $780, for the whole of Eva
Plantation as it then existed, controll-
ing the same area of gland it does to-
day. The principal stockholders of the
new plantations which were organized
in 1898 and 1899, who supplied the bulk
of the money which made possible
'Waialua,' 'Olaa' and 'McBryde,'
have held their stock and stood by the
plantations to see them through, be-
lieving the investments would ulti-
mately prove remunerative. Present in
dications strongly suggest that they
made no mistake. What would these
islands amount to today commercially
without the sugar business and the
developments made from the proceeds
of that industry? With scarcely an
exception, the dividend paying planta-
tions in this Territory have a history
of narrow escape from partial or total
failure. The total output of sugar from
these islands in 1876 was 1906 tons.
The total crop in 1898 was 222,4S1 tons.
The crop this year will be more than
double the output ten years ago. The
present prosperous condition of the
country's main industry, with its an
nual output of nearly a half million
tons of sugar, is due to the courage,
patience, perseverance and never fail
ing faith of the men who put in their
their credit and their best mem
tai and physical effort for what has
been accomplished. When we remem-
Der that good. true. honest friends of
Hawaii are living today, who did not
believe, in 1876, that these islands
would ever produce $1,000 tons of sugar
per annum, we may regard their pres
ent status of development, considering
all the difficulties encountered, a re-
markable achievement and a worthy
stimulus to posterity-"
DIVIDENDS PAYABLE.
Some misleading paragraphs have
during the week as to the
amount of the monthly dividends dis |
tributed by Hawaiian corporations. !
These statements greatly underesti- /
mated the amount, and might give the !
impression that the millions invested /
here made very poor returns. A par
-ial list of dividend paying corpora ,
ions gives the following figures:
On May 1, Haiku, Pioneer and
Paia pay l per cent. each. s 100000 |
On May 5, Hawaiian CONNER
cial pays Csc. a share or $685.
00O Onomea 1-2 per cent. or
$4,000 and Honomu 11-2 per
cent or 81, 250. 81, 25000