Evening bulletin. [volume] (Honolulu [Oahu, Hawaii]) 1895-1912, 1909-10-09
IN BUSINESS CIRCLES

oiuoici htoOhs anu the OTueTS
brought in from the other islands will
probably tell the story of what the
small stocks will do next week.
As Indicated by the Blu letin last
saturday, McBryde followed the ad.
!ance of Olaa. Beginning the week
With sales at 3.S7ls 1t closed by chang.
ing hands at about a dollar a share
higher and holders asked five dollars.
About thousand shares from San
francisco were taken up by McBryde
juyers during the week, and with this
out of the way the elements to weaken
the market were removed.
Olaa continued on the upward move
md closed ON Friday with 5& bid and
10 sales. The demand for this stock
and also McBryde has been very lively
and will probably continue, as will the
demand for Honokaa that came into
he market in fair sized blocks at
$3.50 on Friday and may be the cen.
Ter Of more active trading.
Among the Old standby stocks there
has been comparatively little trading
A fair number Of people are after Wal.
alua at prices ranging all the way from
i1S to 119. II Waialua goes below
119 II Is usually the sale on the part
Of someone changing his securities to
make turn.
Oahu plantation finished grinding It's
crop on Tuesday night. The record Is
1850 tons Of sugar harvested unde
the most trying labor conditions any
plantation has ever faced. Manager
Bull is entitled to a great deal of credit
for the manner In which he not only
handled his end Of the strike situa.
ion, but reorganized his force of lab.
rers after the strike was over. Oahu
| viii probably line up with the highest
average of those plantations employing
itizen labor In the skilled positions OF
the property. Oahu stock dropped a
little, shading of from 80 the latter
part of the week.
One OF the surprises Of the week has
been the sales Of Pioneer at 1856. Only
a few blocks have come out at this
figure, and there Is no real good rea-
on why the stock should sell below
1856. except that some men are like
sheep. 'ta
Hawaiian Commercial has remained
inactive, the dividend announcement
having been fully discounted I'm pre-.
vious weeks. It was merely ques.
ton Of when 1t would be paid.
Next week Paia and Haiku stock.
holders will meettd increase the cap.
ital stock OF these plantations, the
bonds now having been paid OF. There
are many arguing for an increase OF
stock on the part Of other plantations
whose bonds are paid OF and whose
stocks are paying large dividends und
err the present price of sugar. One
side OF It Is sound enough. 1t Is
claimed that the property is worth
more than is represented in the cap.
ital stock at par and the dividends paid
are of size to suggest swollen for.
tunes to the outsider. On the other
hand It should be remembered that
the price Of sugar may not be as high
three years hence, but the stockhold.
ers will want the same sized dividend.
The practical result will be that the
difference will be taken ont of the
labor on the plantation and the In
crease OF the stock will ultimately be
the basis of an argument for cutting
out the citizen labor ind putting In
something of the Oriental stamp. That
is the way II goes In the major.
ity of cases. Increases OF stock are
much like eventually skinning the hide
of labor In order to cut a fat water.
melon for the stockholders. That is
the danger Of It.
Quotations fOl sugar have been very
satisfactory. The price of centrifugals
has advanced tn 1926 cents and bects
have settled Down to the vicinity OF