The Pacific commercial advertiser. [volume] (Honolulu, Hawaiian Islands) 1885-1921, 1908-04-19
Continued from Page FourD
OAHU AND EVA.

| cent a month"; Inc IHd!cdtlOhS hO"
are that the crop will not be far from
| 1000 tons, and that the dividends
will be increased some time during the
year.
/ Eva, which. is paying one per cent.
month, viii have large surplus to
| be paid out in additional dividends,
either at seems to be generally expect
| ed. in extra dividends quarterly, or in
an increase in the monthly dividends
| 1t is said to be a toss-up which Will
| have the larger crop, Eva or Oahu.
OOKALA AND HIGHER PRICES.
Ookala is looking up little. When
| it was decided to go into liquidation
| on the basis of about $13 share, it
was done on an estimate of $50 a ton
net for the sugar. The plantation is
This. of course, works out to the adj
vantage of the stockholders.
HONoKAA'S BOND ISSUE.
Honokaa Sugar Company has an
nounced proposed issue of 100000
of bonds, to bear date of June 80, 1908,
due in twenty-five years. OF this issue
100000 are tie be offered for public
subscription, the proceeds to be used
to take un the existing Indebtedness
of the plantation incurred in extensive
improvements. and to enable the plan
tation TO carry out its schemes of de-
velopment and enlargement made pos
sible by the Hamakua ditch. These
improvements includ. those to the
mill. its railroads, its buildings, an in
crease in its livestock, the amount in
n N W
stock. in the clearing of over 1900
acres of entirely new land, the cultiva-
ton of which has been made practi-
cable and prospectively profitable by
the construction of the Hamakua ditch;
the construction of reservoirs, and of
fumes and other appliances to make
the new land available 1t is stated IN
the prospectus that the crop of 1908 is
being taken from 2460 acres; that of
1909 will he taken from $500 acres,
and that of 1910 will be taken from
$500 acres. which ought to be an aver
age thereafter.
These bonds are to be in denomina-
tions of $1,000, bearing interest at 6
per cent, payable semiannually, due
in twenty-five years, but payable at
any interest date after ten years. This
bond issue to be offered in this mar
ket for some time, and, though under
the Immediately present condition of
the money market they might not be
taken up readily now, it is not expect
ed that there will be any difficulty in
floating the issue later.
BOND REDEMPTION.
The financial plan of using some of
the reserve profits or the present high
prices and large crops in redeeming
bonds where plantations have bond is
sues permitting redemption, seems to
meet with considerable approval. 1t
is practically certain that this plan viii
be followed by the Alexander & Bald
win plantations, such of them as have
bonds redeemable at this time Ha-
waiian Commercial and Sugar Com
pany has no bonds redeemable at this
time, but it is stated that the company
will apply parton its profits to going
into the market and buying these bonds
for retirement, unless the announce
ment of such intention puts the price
of the bonds so high as not to justify
this method of retirement. The bonds
are selling now in San Francisco
of the money market there, is consid-
cred remarkable. The annual meeting
of Hawaiian Commercial and Sugar
was held in San Francisco April 8. No
copies of the annual report have been
received here vet. From the San Fran
cisco papers 1t is known that the month
" dividend of IS cents a share will be
CONTINUED The officers for the wear
elected are: H. P Baldwin. president;
Albert Meyer. vice president; Emil
Tschumi. secretary; Daniel Meyer.
treasurer; F. F. Baldwin, manager; di-
rectors. Fl. p Baldwin, W. M. Alexan-
der. f. NJ Walsh, Albert Meyer, Ed
ward POLITE, F. B. Anderson and r. r..
Rolph.
RAINS IN HAMAKUA
Manager Ahrens Of the Pacific Mill
Company reports most copious rains
throughout that part of Hawaii lately.
The Hamakua ditch is running 10000
600 gallons of water a day, and the
reservoirs both on Waimea plains and
on the plantations are practically full
THE CUBAN CROP.
Smith & sehipper of New York,
whose sugar market discussions are
held in high esteem, in a special mail
letter under date of April 5, received
by the Alameda, say: There is a
cable in the market today, stating that
there are now 126 centrals grinding,
against 135 centrals last Tuesday, a
falling off in the number at work of
nine. As we have previously pointed
cut, steady decline in this respect
can be expected on account of centrals
finishing their crop If the reports
from the planters can be relied on, it
certainly looks as if the final outrun
would be nearer 100000 tons than
100000 tons -
CROP AND PRICES.
The same authority gives the follow
ing as of the same date: The market
closes quiet, on the basis of 4.36 duty
paid for % centrifugals; 3.86 duty paid
for 50 Muscovadoes; SCI duty paid for
50 molasses sugars The world s visi-
BILE supply is 100000 tons against
$4,000 tons last year
IT'D No CrrTnN-S ON TLJE yvUI7L