Evening bulletin. [volume] (Honolulu [Oahu, Hawaii]) 1895-1912, 1908-01-21
SpRE(KH'S QUESTIONS
Continued from Page II

thing. significantly lingering the
palm of his hand.
81 said to him, however: rs there
any basis on which the Government
can claim 100000 for under
weighed sugar? I think It Is vital
matter to the stockholders To this
he replied that none OF the stockhol-
ders were worrying about the charg-
es. / then asked to look at list u
stockholders. | had heard of the
Wall Street reports circulating after
the death of Mr.. Havemeyer and ]
decided 1t would be properto inves-
tigate the report that the stock OF
the company was widely scattered
and that 1t was no longer concen-
'trated.
AT first Mr.. Heike refused to al
low me to look at It, and he asserted
II was not in the New Jersey Office.
! made 1t plain, SO far as | could, 1t
was not as competing sugar refiner
that | sought information. | said
did not wish to seek any information
bearing upon the manufacturing cost
the selling cost or the profits of the
American company, but that as a
large holder of preferred stock l
wished to obtain information to
which I was entitled by law. Mr..
iIeike demurred, and l merely told
him that he had better consult with
his counsel, John h. Parsons, who ]
entitled 20 a view of the stockhold-
ers' list.
1T was not until the next day that
| received note from Mr.. Heike
telling me that l could see the list.
I tabulated the holdings OF several OF
the directors, the amounts of which
made me seek further information
from Mr.. Heike. l found, for exam
pie, that the late Mr.. Havemeyer
was down on the list as owner OF
l36 shares of common and 81 shares
Of the preferred; Arthur Bonner, the
4 easurer, owned 100 shares of the
common and 200 shares OF the pre-
ferred; John T. Parsons owned 24O
shares OF the common and 240 shares
of the preferred; Horace Havemeyer,
the son of II. o. Havemeyer, had only
the qualifying 10 shares OF direct
tor.
George II. Frazier appeared as
the owner of 10 shares and John
Mayer as the holder OF 10 shares.
MIR. Heike had told me that was not
"a good stakeholder, as one Of the
reasons why he would not allow me
to look at the list OF stockholders,
and when / saw the holdings OF
these directors / said to him, You
propose to elect as directors at the
Wednesday meeting three men whose
total holdings, 70 far as the books
show, do not amount TO more than
five hundred shares referred &c
the fact that the management pro.
posed to elect Horace Havemeyer
John Z. Parsons and George Frazier
directors at the annual meeting.
His Holdings Largest
Much to my surprise, / observed,
in running over the list, that my
holdings of American Sugar, amour
ting to $500 shares, was the largest
holding of. all. l ascertained that
the s90,OOO,00O of stock, aggregat-
ing 100000 shares, was distributed
among 1900 people, an average OF
90 shares to each stakeholder.
THE list also disclosed prepon-
derance OF women among the stock
list. Naturally, | inquired II Mr..
ilavemeyer's holdings in the COM
pany were limited to the small am
cunt shown by the books, and Mr.
iIeike informed me that he believed
ne had owned more. 1t appeared to
me, however, that there was some
stock jobbery in the fact that the
president OF great company did not
care to disclose his holdings in the
company of which he was the presi-
dent.
Il again asked the secretary of the
company for information as to the
assets of the company, and he refer
red to the summary filed with the
Commonwealth of Massachusetts on
February 10. 1907, giving the condi-
ton of the company at the close OF
business December 20, 1906. This is
the report:
ASSETS.
Real estate, buildings
and machinery ....$ 36,029,220
Manufactures, merchan-
disc. materials and
stock In process -. 16,035,97S
Cash and debts rec'ble 36,731,272
Investments in other
corporations ...... 5O,9SS,467
-
Total ......,..$1 39, 1884, 1898
LIABILITIES.
IuDltHl VII INN nUU