The Hawaiian gazette. [volume] (Honolulu [Oahu, Hawaii]) 1865-1918, 1908-12-15
Hilo Railroad Bonds.

Hilo Railroad Bonds.
What was said last week and two
weeks. ago in these columns in regard
to the Hilo railroad, has again been
fully justified by the course of the
stock market during the week. Last
Saturday week ago sale of Hilo
railroad bonds at $50 was noted, an
advance of $15 from the last previous
sale of which information could be
secured, and of about $25 from the last
previous sale recorded on the stock ex-
change. Yesterday there was sale of
$4,000 of these bonds reported to the
exchange at $3.50, an advance of $3.50
during the week. At the same time
owners have perked up and are now
asking $95 1t is understood that the
bonds that have been sold lately are
bonds that have been held in San Fran
cisco. The entire issue of bonds is one
million dollars. The business that is
in sight for the railroad, the Hilo
Breakwater, the product of the Hawai-
ian Mahogany Lumber Company, and
the doubled output of Olaa, are said
to be ample to meet fixed charges and
operating expenses and leave some
margin.
An Active Market.
There has been good deal of activ-
ity in the stock market during the week
in small lots, and at prices showing
no sagging from the previous week.
Oahu in which there has been good
deal of trading has sold up fully half
a dollar, the price at the beginning of
the week being $27.75.- Yesterday the
L. IS oh OF
was reported on the exchange, and the
sale of a smaller block of 25 shares
at $2S.125. During the session of the
exchange three small lots were sold at
$2S.125, but after the close of the ex-
change sale of block of 400 shares
by the Hawaiian Trust Company at
$2S.25 is reported Eva has sold stead.
lily at $2650. Hawaiian Commercial
and Sugar Company has sold with equal
steadiness at 500, and Paauhau at
$3.50.
Other Stock Dealt In.
These have been the principal stocks
dealt in. A block of go shares of Olaa
at $4.S75 changed hands on the eY-
change and on Tuesday and on Thurs
day the prediction of these columns of
week ago in regard to Hilo railroad
stock that, "it is quite possible now
that the stock of the company which
has been a non-negotiable quantity fol
long time may come again to be dealt
in, - was verified by the Sale of tritit
of five shares at $14, an advance from
the nominal quotation of S..
Changes in Dividends.
Early in the week G. Brewer g. Co
Il. -.
dividends in some of the plantation
managed by them. These changes arr
all to take place in January and thu
rate of dividend announced is to con
tinue until further notice. Onomea il
cut from five per cent. month to tw'
and half; Honomu from two, to on
and half; Waikiki is increased iron
one, to one and half; Pepeekeo is re
duced from two per cent. to one; an'
Hawaiian Agricultural is continued a
one per cent.
These changes seem to have had NJ
appreciable effect on the stock though
in none of these stocks has there beer
any dealing reported during the, week
Free Philippine Sugar.
The matter of most widespread con
Germ to the sugar interests of the Is
lands is the news from Washington O.
probable free Philippine sugar, at an,
rate to the extent of 100000 tons /;
year. The stock market yesterday di,
not show the slightest indication tina
this is cloud on the outlook. AM
there can be no doubt that the prevail
ing feeling among those interested il
Hawaiian sugar plantations is tina
10 in n IA "a m
sive about.
Present Philippine Production.
The present production of sugar il
the Philippines is in the neighborhoot
of 100000 tons a year, rather less thar
more, on the average. The portion o.
this exported, finds a market with tn,
refneries in Hongkong for the suppl,
of the Far East, with some export I,
Japan and very small export to tn.
mainland of the United States. Asid,
from any stimulation of production
which may follow from allowing Phil
ippine sugar to enter the United State
free of duty, whatever increase of OK
port to the United States may result
will reduce the amount of Philippin,
sugar going to Hongkong and perhaps
Japan for the supply of the Far Eas
market. The result will be that thes'
will have TO go elsewhere for theil
supplies, the natural place being II
Java, which will reduce the amount o.
Javanese sugar to 60 to the United
States by practically the exact amount
of Philippine sugar withdrawn from
these Asiatic markets to 60 TO the Uni
ted States. So that the first effect OF