The Hawaiian gazette., 1908-07-28

WORLD 10 RECORD CROP.
Hawaiian Commercial & Sugar Co.
finished the seasons grinding at Pun
meme mill at midnight a week ago. The
entire crop was 56.150 tons. This is
the largest crop ever milled from ono
plantation in the Hawaiian Islands and
probably in the world. 1t exceeds last
years crop from the same sources by
1881 tons, and the crop Of 1906 by 1897
tons, and that of 1905 by 1920 tons.
When it is remembered that ten years
ago the crop from these same sources
was 15,072 tons, something of the de-
velopment which has gone on in the
| Hawaiian Commercial & Sugar Co.
plantation may be realized.
A QUESTION OF SINKING FUND.
A technical and legal question of tie
power of the trustees for the bond
holders, in regard to the investment
of sinking fund moneys, has arisen in
! relation to the Oahu Sugar Co. bonds,
and has been referred to the Supreme
! Court of the Territory for decision.
The Oahu Sugar Co. has asked the
trustee for the bondholders, the Bishop
Trust Co., to invest the sinking fund
| for 1907 in the bonds which the sink
| ing fund is created to redeem, and also
to advertise for proposals for the sale
! of these same bonds to be paid for out
of the sinking fund. The trustee liz
advised that it has no authority undcI
the trust deed to comply with either
of these requests, and the Supreme
/ Court is asked to determine whether il
has or not, and, also, if, Independently
of the trust deed, it would have the
right as trustee to do so, and, if so
how high price it would be author
lied to pay. The question seems ono
that in its decision may be of Interest
to all bondholders and trustees fol-
bondholders
THE JAVA CROP.
This is the season of the year wher
the Java crop begins to come into mar
ket and to have some influence III
the market AS was stated in these
columns last week, there seems to hav,
, been considerable rain there of late, III
terfering with harvesting. The export
up to July were $4,000 tons, al
against 10000 tons last year, and SO,
604 tons the year before. OF thu
amount exported this year, options oil
about $4,000 tons were held in tn,
United States. Three cargoes amount
ing to about $4,000 tons have met will
mishaps. Two caught fire and one wa
/, in collision. 1t does not appear clearl,
how much sugar was actually destroy
ed, but in any event the arrival a
market is delayed. Two cargoe
shipped to order have been sent Il
Egypt because of a shortage there, an,
so win not reach the European o.
American market.
CONDITIONS IN CUBA.
The crop of Cuba for this year ha
/, now practically all been milled and il
, very largely marketed. Weather con
ditions. early in July were reported a
! continuing favorable, and the cane rap
idly recovering from the drought
There is great activity in the field
, work, and planting for the crop afte
the next one is proceeding favorably
CONDITIONS IN EUROPE.
Mail advices up to July 10 are tina
the acreage of beets in Germany wifi
be three per cent. less than last year
instead of two per cent. less, as wal
previously exported. On the whole
conditions seem to be favorable, though
there has been considerable heat and
drought which might injure the crop
Smith & Schipper, under date of New
York, July 10, say that mail advices OF
July 3 are as follows: "The new croI
position has been firmer, due mainly II
the great heat and drought which hal
been experienced all over the continent
and which has given rise to fears thu
Z the crop might be prejudiced. Should
: this ultimately prove the case, 1t vii
be serious matter, considering th'