The Pacific commercial advertiser. [volume] (Honolulu, Hawaiian Islands) 1885-1921, 1908-10-04

ing with higher rentals. It has been
suggested that the government would
| be very willing TO let out the lands ia
small holders on very favorable terms
after the expira ton of the present
leases. and that if it could be divided
up among small holders. the ownership
and operation of the mill as a strictly
mill enterprise and not as & plantation
enterprise might be made paying one
But for that purpose there would he
no advantage in controlling the pres
ent stock
The Speculative Movement.
The speculative theory seems to be
the more generally accepted one. When
the termination of the enterprise was
determined on it was estimated that
stock holders would receive something
over $I3 a share for their stock in
the final working out of the project.
This estimate was based on an estimate
of 370G tons for this year s crop at
500 a ton. But the crop amounted to
over 5000 tons and more than $50 net
was realized it. The result is that
the bond issue has just been redeemed,
a year before the original plans called
for. With good prospects both for
crops and prices, there are those who
think there IS a good speculation in
buying the stock at $12 or thereabOuts
and holding it in the expectation of
what may be realized out of it in the
process of liquidation.
onornea on Velvet.
Onomea has a very bright outlook.
The crop this year at the beginning
of the season was estimated at between
II 900 and $4,000 tons. 1t yielded over
II geo tons. This was due to the alb
sence of leaf hopper, the depredafions
of which, expected. had been allowed
for in the estimate, and to the splendid
weather during the grinding season. 1t
was dry and warm, just right to make
the Juices of the best. The acreage
from which the crop was taken was
about 1000 and it averaged at least a
ton more than ii has ever averaged on
this plantation before. The plantation
after paying the present dividend OF
FIVE per cent. month for September,
October. November and December, will
carry over TO next year a surplus large
enough to enable it to pay dividend
of two per cent all next year even II
it does not make a dollar out of its
next crop.
Kahuku Plantation.
Eahuku Plantation which took of
the bulk of it's crop sometime ago leav-
ing one field to be taken off later, has
lust completed milling the cane from
this field. The exact figures of results
are not vet in but it is satisfactory.
The Grinding Season.
The year for statistical purposes in
the sugar industry in Hawaii closes
September 80. which was last Wednes
dav. The official figures for the crop
are now being made up. They will not
yerv materially from those given in
these columns last Sunday. Most or the
plantations had actually finished grind
ing before September 30, though there
were a few which had not, and il is
these, for the most part, which will
make whatever variation there may be
from the figures published last week.
Plantations all over the Islands are
giving their mills thorough everhauilng
at the present time in preparation for
the grinding season for the crop OF
1909 which will begin very soon. A
considerable number of plantations will
begin grinding the latter part of Nov
ember and the early part of December.
In fact it is probable that the grind
ing season in general will begin carrier
this wear than usual. In most years
though there is some grinding done IN
December, the majority of the mills do
not, begin grinding until in January.
This season it looks now as though the
majority of the mills would begin IN
December
Chamber of Commerce Discussion.
The visit here of the delegation of
California and Oregon Chamber Of Com
meree men on their way to Japan on
the invitation of the chambers of COM
merce of Kobe and Yokohama. was an
event of Importance during the week.
While here the delegates We're shown
many points of interest and in partleu-
lar were shown about Pearl Harbof.
The party was joined here by Charles
NJ. Cooke. president of the Bank OF
Hawaii. and John Waterhouse, treas
urer of Alexander & Baldwin, who Will
represent the Honolulu Chamber or
Commerce. There is no doubt but that
this will prove one Of the most enjoy
able excursions ever planned A presen-
tation to the Emperor is said to be
one of the probable events on the pro-
gram.
Visitors of the Week.
Among the visitors during the week
has been F. NJ. van Horn, for many
years manager of the bond department
of the First National Bank Of New
York. but now a member of the firm
of A. B. Leach & CO., large financial
house of the metropolis, who arrived
bv the Alameda and will return by her.
His house financed the second issue of
japanese government bonds, Soo,ooO'-
600. Tt was secured by the custom re-
ceipts of the country.
Consul General S. Ueno arrived by
the America Maru on Thursday to take
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