The Hawaiian gazette. [volume] (Honolulu [Oahu, Hawaii]) 1865-1918, 1908-07-31
BOND REDEMPTION.

BOND REDEMPTION.
The directors of Haiku at their meet
ing yesterday decided to call in for re-
demption $4,000 of the 100000 of
bonds of the corporation outstanding
October i. The directors Of Paia de-
cided to call in $ll2, 800 of the $450,000
of bonds of that plantation, outstand-
ing October l. The bonds to be called
in will 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 block from the street car line,
between Ninth and Tenth avenues, was
held by Morgan yesterday. Auctioneer
Steven secured an average price of 5000
a lot. The lowest price received was
$165, and the highest $247.50. The
lots each contain $4,000 square feet
They were sold for Y. Amin.
THE KAPPA LANDS.
Advertisements are being prepared
for offering for sale the leases of the
Kapaa 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. Phe rice lands will
also be leased separately and the town
lots will be sold
There are about 1900 acres of sugar
lands in the Kapaa tract. 1t is so To-
Gated that the cane grown on it could
be hauled to Hanamaulu mill as well MS
to Makee Sugar Company mill. In adj
dition the land is held to be highly
suitable for pineapples, and applica-
tion for it for pineapple lands has been
made to the government. As pineapple
land, it is held that there is opportun-
ity here for some interest to engage in
pineapple growing ON a large scale. The
upset price for the lease will be the
appraised annual rental set by the APP
praisers who viewed the property about
year ago. The lease will be for nine
years. This will 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 will be offered for
a term of fifteen years
If no offer at the upset rental is re-
ceived, the land will be held until some
other plans for it's use for the benefit
of the public arb worked out.
How this affects Hawaiian sugars
may be very readily seen. Hawaiian
sugars are sold on arrival at the New
Vail ID e
Three hundred thousand tons or there
abouts have been sent from here to the
Atlantic seaboardfthis year. If quota.
tions have been kept down by buying
in Cuba instead of in New York, n
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
cd is a subject Of discussion through.
out the current literature of the trade.
Smith g. Schipper devote considerable
space in their sugar postings TO dis
cnssion of this subject. In their latest
To be received here they say:
" As we have previously pointed out,
refiners 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 tendeD-" 80
values has reached thc revising point,
and then step In and purchase what
sugar IL Offering, inter which sellers
ideas for additional supplies immedi.
ntely advance, and the same process is
gone through again. 1t is estimated
that 20 have anything like normal
working stock on hand az the middle
Of September, Fehnern will have to pur.
chase al least 10000 tons Of sugar