The Hawaiian gazette., 1909-06-01

A special meeting of the members OF
the Honolulu Stock Exchange was con.
yened yesterday for the purpose of
considering proposed changes in the by.
laws of the organization, in conformity
with the sentiments OF many of the
members. The question Of the life in.
surance clause in the bylaws was tho
main problem and il was finally decided
to eliminate it entirely. There il a
considerable amount of insurance
money now on hand but no decision
WAS made as TO its disposition.
The objections TO the provision for
life insurance was based mainly on the
belief that it could hardly be consider.
| ed within the province of a stock ex.
change, and while it was acknowledged
to have been good thing in the
past it was decided that under changed
| conditions il would be wiser to abnn.
CURED in without opposition. The
rumOr of "secessionist" movement
for the purpose of forming new ex.
change does not seem TO possess any
foundation in fact, and the same is
true of the reported friction among the
members over the insurance provision
Hawaiian LAUNDERING.
Under the amended agreement as TO
prices with the Santa Fe railroad com,
pany, the recognized Puma Lumber
! Mill-formerly the Hawaiian Mahogany
Company--is turning out satisfactory
number of ohia ties, the mill averaging
quite a thousand n day. or this output
some fifteen thousand n month are be
ing shipped to the Santa Fe, the rest
| being put on the local market. Dur
| ing the week the schooner Prosper sail.
| ed from Hilo with full cargo of ties
and two other vessels-the Balboa and
| the w. II. Marston-are under charter
by the Matson people to load ties. The
former vessel will reach Hilo probably
this week and the Marston early in
July.
The numbering branch of the Hawai-
ian Development Company is extending
its numbering railroad lines through the
| homestead lands upon which the timber
| rights have been purchased and thii
land is being rapidly cleared up. The
negotiations for timber rights on thu
government lands adjoining are prae
tically completed and it is expected
that the mill output will be largely
increased when this land is being work
ed over.
In addition to the work Of cutting
ties, the Puma mill is operating I
single plant and is also turning ou
large amount of lumber and othe
ohin products, including telephone pins
plough beams, and such.
The strike agitation has not pene
trated the lumber camps TO any nppre
ciable extent and dozen japanese VIII
appeared anxious to foster n strik
sentiment were replaced last week b.
others without any trouble.
Work Is TO be commenced very short
ly on the timber lands Of the Paci6
Development Company, adjoining tn
Puma Mill'g land, whore II. II. Cant ha
secured timber rights. A small port
able mill has been purchased by hin
and will be delivered at HilO on tn
Enterprise. This is to be set up Il
the woods to cut ties, also for tn
Santa Fe, although not being sold di
rectly to that company. The ties WI
be either taken TO Kehena TO be loade'
for transportation TO Hilo, where the!
will be reshipped, or taken to Pahoa
for shipment to Hlo by rail. Mr.. Can
stHtes that he is ready TO install
trolley system for the transportation
Of the ties from the mill TO the shipping
point.
Hilo Brealwater Progress
To date, about twenty per cent. o.
the work under the Iilo breakwate
contract is completed, the progress be
ing satisfactory to all concerned. Con
tractor Metzger is preparing to insta
considerable amount Of addition
machinery both at the brealtwater AM
at the quarry at Kapoho, however, wit
which much faster time can be mad
than Mt present. This machinery will
consist Of three additional derricks TO
handling the larger pieces Of stone.
Realty Is Transferred.
The week has been fairly actiy
from a real estate viewpoint, The mos
important transaction is the sale o
the Iiilo Hotel by the Spreckels inter
ests 10 George Lyeurgus, The Hawai-
capital has long been in need of
hostelry such as the IIilo Hotel will
be after its rehabilitation under th
Lycurgus management. The new own
ers will spend considerable sum o.
money In making necessary repairs an,
providing up.to. date equipment.
Locally, number of exchanges Of
realty have been completed Captain
Miller is the reported purchaser OF Tn,
property Of DIR. @. b. Cooper on Ma
| kiki street for the sum Of $4,000 and 4
In line with Captain Mlller's realty In