The Pacific commercial advertiser. [volume] (Honolulu, Hawaiian Islands) 1885-1921, 1908-08-02

bonds of the corporation outstanding
October /. The directors of Paia de-
cided to call in SIP, 800 of the $4,000
of bonds of that plantation, outstand-
ing October l. The bonds to be called
in viii be drawn by lot on Monday.
] On Monday the directors of Ha-
waiian Sugar Company will consider
the amount Of bonds to be called in for
redemption by that corporation The
amount will not be less than $4,000,
and may be 100000
KAIMUKI LOTS SOLD.
| An auction sale of eight Kaimuki
lots a block from the street ear line,
between Ninth and Tenth avenues. was
held by Morgan yesterday. Auetioneer
Steven secured an average price of $500
lot. The lowest price received was
$l65, and the highest $247.50. The
lots each contain $4,000 square feet.
| They were sold for Y. Amin.
THE KAPAA LANDS.
Advertisements are being prepared
for offering for sale the leases of the
KaFaa and the Anahola lands on the
Island of Kappa, until lately under
lease to the Makee Sugar Company.
The lands to be offered for lease are
the cane lands and other lands as high
up as the cane lands extend, the lands
above these being about to be opened
for homesteads. The rice lands will
also be leased separately and the town
lots win be sold.
There are about 1900 acres of sugar
lands In the Kappa tract. 1t is so To-
Gated that the cane grown on it could
be hauled to Hanamaulu mill as well as
to Makee Sugar Company mill. In adj
dition the land is held to be highly
suitable for pineapples, and applica-
tion for il for pineapple lands has been
made to the government. AS pineapple
land, it is held that there is opp0rtun-
ity here for some interest to engage in
pineapple growing on large scale. The
upset price for the lease viii be the
appraised annual rental set by the APP
praisers who viewed the property about
a year ago The lease viii be for nine
years. This VIII give opportunity for
three crops of plant cane, to be fol-
lowed BY two ration crops, if the land
is leased for cane.
The Anahola lands viii be offered for
term of fifteen years.
If no offer at the upset rental is re-
eeived, the land viii be held until some
other plans for it's use fer the benefit
of the public are worked out.
How this affects Hawaiian sugars
NAV be very readily seen. Hawaiian
sugars are sold on arrival at the New
York anotation at the time of arrival.
Three hundred thousand tons or there
abouts have been sent from here to the
Atlantic seaboard this year. If quota
tions have been kept down by buying
in Cuba instead of in New York,
considerable portion of the whole sup.
ply has thus been bought at prices
lower than the factors of the market
justified holders in expecting.
The lower range of quotations for
sugar than has been universally expect
ed is a subject of discussion through
out the current literature of the trade.
Smith Sehipper devote considerable
space in their sugar postings to dis
cussion of this subject. In their latest
to be received here they say:
"As we have previously pointed out,
refinsrs are trying TO accumulate sup
plies gradually without unduly exciting
the market. and in their efforts TO do
this they Withdraw entirely from the
market, until the sagging tendency Of
values has reached the resisting point,
and then step in and purchase what
sugar is offering, after which sellers
ideas for additional supplies immedi
ateIv advance. and the same process Is
gone through again. 1t is estimated
that to have anything like a normal
working stock on hand at the middle
of September, refners viii have to pur-
chase al least 10000 tons of sugar
for the four Atlantic ports. Stocks in
Cuba amounted to $4,000 tons on July
Il. and Cuba viii probably produce
$4,000 tons more to the balance Of the
season. making the supply 100000.
Subtraeting. say. $4,000 tons for do
nestle consumption and stocks to be
carried over, leaves 10000 tons to be
shipped TO this market. It is, Of
course, questionable whether or not
buyers will be able to obtain all these
supplies. This means that after seeur-
ing all the Cuban sugars, $4,000 tons
will have TO he purchased IN outside
markets. Europe, Java. Porto Rico,
etc. and. Of course, as these supplies
can not be secured on a moment s no
tee, refners can not delay buying so
very much longer. Nevertheless, as we
have previously mentioned, it is ap-
parently their policy to keep the de
mand for refined sugars down as much
as possible TO a hand to-m0uth basis,