The Pacific commercial advertiser. [volume] (Honolulu, Hawaiian Islands) 1885-1921, 1908-12-13
COMMERCIAL NEWS
Continued from Page Four.)
HiIo Railroad Bonds.

I
! stock market during the week. Last
| saturday a week ago a sale of Hllo
| railroad bonds at $50 was noted, an
! advance of SIS from the last previous
! sale Of which information could be
secured, and of about $50 from the last
nravious 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 SOU
! 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 sad
| TO be ample to meet fixed charges and
operating expenses and leave some
margin.
An Active Market.
There has been good deal of aetiv-
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 halI
dollar, the price at the beginning OF
the week being $27.75. Yesterday the
sale of a block of 500 shares at $50
was reported on the exchange, ana the
sale of a smaller block of 20 shares
at $2S.125. During the session of the
exchange three small lots were sold at
S2S. 1875. but after the close of the ex-
change a sale of block OF 400 SHARES
bv the Hawaiian Trust Company at
$2S. 25 is reported Eva has sold stead.
ilv at $3.50. 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. block of 60 shares of Olaa
at S4.S75 changed hands on the ex-
change and on Tuesday and on Thurs
day the prediction of these columns OF
a week ago in regard to Hilo railroad
stock that, cit is quite possible now
that the stock of the company when
has been a non-negotiable quantity Tor
long time may come again to be dealt
in was verified by the sale OF trlne
of five shares at $14, an advance from
the nominal quotation of So.
Changes in Dividends.
Early in the week C. Brewer & Co:
gave notice of some changes of
dividends in some of the plantations
managed by them. These changes are
all to take place in January and the
rate of dividend announced is to CON
tinue until further notice. Onomea IS
| cut from FIVE per cent. month to two
| and a half; Honomu from two, to one
| and a half; Wailuku is increased from
one. to one and half; Pepeekeo is re-
| duced from two per cent. to one; and
| Hawaiian Agricultural is continued at
one per cent.
| These changes seem to- have had no
| appreciable effect on the stock though
| in none of these stocks has there been
any dealing reported during the week.
Free Philippine Sugar.
| The matter of most widespread con-
| cern to the sugar interests of the Is
( lands is the news from Washington OF
probable free Philippine sugar, at any
rate to the extent of 100000 tons a
wear The stock market yesterday did
not show the slightest Indication that
this is a cloud on the outlook. And
| there can be no doubt that the prevail
ing feeling among those interested IN
Hawaiian sugar plantations IS that
there is nothing in this to be apprehen
sive about.
Present Philippine Production.
The present production of sugar IN
the Philippines is in the neighborhooc
of 100000 tons a year, rather less thar
more. on the average The portion OF
this exported. finds a market with the
refneries in Hongkong for the supply
of the Far East, with some export tC
Japan and a very small export to the
mainland of the United States. Aside
from any stimulation of production
which NAV follow from allowing Phil
ippine sugar to enter the United States
free of duty, whatever increase of ex
port to the United States may respl
will reduce the amount of Philippine
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 the1
supplies, the natural place being tt
Java. which will reduce the amount O
Javanese sugar to go to the United
States by practically the exact amour
of Philippine sugar withdrawn from
these Asiatic markets to go to the Uni
ted States. So that the first effect o.
free Philippine sugar would be merely
a change in shipping routes, withou
the slightest or any very appreciate
change in the amount of sugar compel
ing for the United States market.
+ Atlantic or Pacific Ports.
Il What is probably of far more con
| Germ to Hawaii is the route by which
this additional Philippine sugar vii
find it's way to the United States. A
present the Philippine Islands have thu
privilege of shipping their products t
the United States in foreign bottoms
AS long as this privilege is retained, i
is probable that the great bulk of this
sugar will enter the United States by
the Atlantic seaboard. This route il
probable because the ability of steam
ships to get cargoes from the Atlantic
seaboard to the Far East, makes it pos
sible for them to give a freight rat'
from the Philippines to the Atlantic
seaboard, which. all things considered
| +a thaxv O