The Pacific commercial advertiser. [volume] (Honolulu, Hawaiian Islands) 1885-1921, 1908-05-17
BREWERY RECOVERING.

BREWERY RECOVERING.
Within month Honolulu Brewing &
Mating Company has sold as low as
SIS a share. For the past two weeks
the stock has been recovering steadily
and is now bid for at 81 advance over
that. All the time of the slump the
general explanation was fear of anti
liquor laws in congress that restricted
investments in it. and left the stock
for the time being, without any sup
port. 1t is probable too that rumors
of reduced net profit for, the year as
compared with the year before had
something to do with it, But as the
adjournment of congress approaches,
the fear of antagonistic legislation for
a good many months to come is dis
appearing, and there have been reas-
surfing statements about the net earn
ings.
DIVIDEND DISCOUNTED.
That the probable extra dividend for
Eva had been pretty completely dis
counted before it was announced was
shown by the fact that the quotation
remains practically the same as it was
week before the dividend was an
nounced. The stock is firm. but only
slight advance is noted. But at the
present price the dividend is more than
per cent on it.
KIHEI COMING, IN.
Kihei stock continues to come in to
Alexander & Baldwin at the rate OF
several hundred shares nearly every
day. There is every reason to believe
that by July every share of stock
except such as are forgotten by owners
or owners heirs. or is legally incapable
of being turned in, will be in the hands
of the agents. 1t probably never was
known that all the stock of a corpora
ton was ever turned in for any pur-
pose within any limited time.
SOME ANOMALIES OF QUOTATION.
An examination of the stock ex-
change list in the light of readily at
tainable information regarding various
plantations will present some rather
strange anomalies. For instance. Ha-
waiian Agricultural with shares at 800
par value and paying dividends of one
per cent a month, is quoted at s1s5. In
the same market Waimana1o, paying
2 1-2 per cent a month, is only bid UP
to SITS.
With the exception Of Oahu, Haiku.
Paia. Onomea, Hawaiian Sugar Com
pany and Waimanalo, all the planta-
tions are paying the same rate of divi-
dend as last year.
Oahu is now paying 1-2 per cent in
stead of l per cent. Haiku and Paia
paying but ! 1-2 per cent as against
! IL per cent last year. Onomea is
paying but / 1-2 per cen as against
. IL per cent last year. Hawaiian
Sugar Company is paying 1-2 per cent
as against l per cent at this time last
year Last year it was paying ! IL
per cent until May when it decreased
to / per cent a month, but in few
resumed the regular ] IL.
Waimanalo was paying per cent
month until about the middle of the
wear when it Increased to 2 1-2 per
cent
There ought to be lots of money for
more dividends. Last year sugar
averaged 3.75, still some of the planta-
tons are paying less dividends this !
wear with sugar at what it is now.
THE KAELEKU DIVIDEND.
1t is expected that KaelelSh Sugar
Company will declare a dividend of D
per cent July l. Assurance of a divf- /
ago and was announced in these coll |
umns two weeks ago.
THE SUGAR MARKET.
The sugar market seems to have
been one of expectancy rather than
activity, and there were some tea-
lures which tended to arrest any
upward movement. These, however !
were purely market conditions haV-
ing nothing but a present effect. Alex
ander & Baldwin received cable mes
sage from New York. dated May IL, as
follows: Receipts are heavier than ex-
pected for spot or nearby sugars; taV-
orable weather in Europe"
On the 18th the following cable mes
50 90 was received: "Beets IL 1-2 firm;
three months hence quoted at an ad-
vance of l 1-2 pence; there is rather
q. better tone to the New York market.
This beet sugar quotation was con-
frmed Yesterday by the cable adviees
to the Sugar Factors Company.
THE WORLDS MARKETS.
The latest mail adyices regarding
market conditions are from Smith d
Scbipper to Alexander & Baldwin I'M
der date of May 1. These in large de-
gree anticipate the tone of the cables
received May 10 and Is given above
Smith & Schipper say:
sfOur maket has been quiet with ouy- !
ers and sellers awaiting further deyel-
oDments. Sellers are offering May
shipments in a limited way on the basis
Of 3 1-8c cost and freight for Cubas
with buyers holding off. The only sale
which has been reported was one made
"A st night of 1920 bags Cubas in port at |
J. 1850 eff basis 96. less lighterage the
equivalent Of 4.42c duty paid. which is
The prevailing spot quotation. 1t looked /
yesterday as though these nearby sug-
,rs might sell at 1-32 to lice decline
and the fact that the American sugar |
Refining Company stepped in ana TOOK
hem at current prices caused rather
/. better feeling among holders. There
las been no pressure to sell and as we
Tee il there is not likely to be any
There is not much unsOld sugar in
ruba. so the remaining stocks are
a siIv financed. anS as the Cubans have
treat faith in the future of the market
hev are willing to wait until retiners
necessities force them into the market.
I is generally thought that re1ners
ave not more than supplies enough
I