The Pacific commercial advertiser. [volume] (Honolulu, Hawaiian Islands) 1885-1921, 1908-08-30


| The hard times have kept down the
consumption of sugar in other direc-
tions, in the amount of confectionery
consumed for one thing. The hard
times seem to be easing up everywhere,
| however. and there seems every pros
pect of an increased consumption Ut
almost any time.
A Less Active Market.
Naturally, however, the lower price
of sugar has brought more or less of
halt to the activity of the stock mar
ket, and investors are less anxious to
buy stock at the prevailing prices,
made at a time when sugar was con-
siderably higher, and the dealing at
present is confined largely to those
stocks which cannot be Immediately nor
greatly affected by the lower range of
prices,
End of Grinding Season.
One after another the plantations are
finishing their grinding. 1t is now only
month before the end of this crop
for statistical purposes. All cane not
mflled by September 80 will be counteo
in next years crop. By the looks of
things, however, it is not expected there
ele. Honokaa and Paauhau mills have
finished grinding for the season. In
all of these the crop has overrun esti-
mates, as has been noted in these col
umns before.
Manager Penhallow.
| II. B. Penhallow, who is to become
the manager of Waikiki Sugar Com
pany on October /, sailed for the
Coast the other day on a vacation be-
fore taking up the responsibilities of
the position to which he is about to be
promoted. The fact that Manager
Wells, who has been so long and SO
successfully the manager of this pros
porous concern, had determined to re-
tire and to devote at least two years
to travel, was announced in these col
umns last week.
Ookala Plantation
The statement in these columns last
week that there was a movement look
ing to the continuation of Ookala plan
tation after the disincOrporation of the
present corporation, aroused a good deal
of interest, especially among stockhold
ers. The plans for the continuation Of
the plantation may include, in those
who are forming them. some of the
present stockholders, but generally
speaking, the present stockholders
would oppose any proposition for re-
organization, or for a sale of the prop
erty to new company until after the
crop of 1910 has been taken off, or on
a basis of the present very fattering
outlook
When the stockholders voted to dis
continue the plantation and disincorpor
ate, it was on the basis of an estimate
made by the agents of crops, prices, and
expenses. for the period between Nov
ember, 1907 and the taking off of the
crop of 1910. approximately July l of
that year. This estimate if realized
would yield $13.74 a share to stock
holders.
But the fact is that crop conditions
have been so good, and prices realized so
much better than were made the basis
of the estimate, that the estimate of
the agents has up to the present been
more than realized, and the prospects
now are so good for the immediate
future that still further improvement
on the estimates is expected. For in
stance, the estimated crop for 1908 was
1882 tons at 500 ton giving 1923 800
and leaving a credit balance January
1, 1909, of $500. The crop however,
has been. net. 5270 tons. and the aver
age price realized cannot have been
less than $40 ton. making 1865. 900.
or $145. 900 over the estimates. The
expenses have also somewhat overrun
the estimates. though as the estimates
were for the whole year and the ex-
penses have been for the grinding sea
SON when they were heaviest. the ex-
penses for the whole year may not
overrun the estimates, for from now on