The Hawaiian gazette., 1909-11-02
HonOkaa.Hamakua Adjustment.


week, as affecting commercial inter
ests, has been the adjustment of the
difficulties that have for so long exist
ed between Honokaa plantation and the
Hamakua Ditch Company. As more
| fully related elsewhere in this paper,
the two companies have finally got to-
gether and settled their difficulties
without resorting to the unpleasant eX-
pedient of going into court with them.
BY the terms of the adjustment, Hama
kua will have control of all water in
the big ditch Part of the water will
| 20 to Paauhau plantation and the rest
| to Honokaa sugar mill. The four reser-
voirs, which have been the bone of
contention, will be taken over by the
plantations at an annual rental. The
plantations have an option to purchase
all surplus water.
| 1t has also been decided that the up
per ditch will be cemented and its
capacity probably nearly doubled, in
surfing the Pacific Sugar Mill, Paauhau
and Honokaa of all the water they
need for fluming on the upper levels.
The adjustment of the difficulties not
only restores friendly relations, but in
sures a more speedy completion of the
lower ditch.
Honokaa Dividend
There is considerable talk on the
street of Honokaa dividend probably
of about fifteen cents a share, but this
is not yet assured No meeting of the
stockholders has yet been called for
the purpose of acting in the matter.
However, it appears strongly probable
that before long Honokaa will declare
dividend.
Big Amalgamation Deal.
The announcement was made the
early part of the week that the firm
of w. G. Irwin & Co. had been absorbed
by Brewer & Co., the latter concern in
creasing its capital stock sufficiently
to exchange stock in the larger corpor-
alton for the Irwin stock in the hands
of the stockholders of the latter cor.
poration. As result of the combina-
ton, w. G. Irwin retires from active
business, and it is anticipated that
his example will be followed by w. A,
Giffard, who has long been his Homo.
lulu representative and manager.
The big deal was put through on the
Coast, L. Faxon Bishop having gone to
San Francisco to confer with w. G. Ir
win in regard to the matter. Full de
tails of the transaction have not yet
been received here though it is know
that Brewer & Co. takes over all the
sugar agencies formerly held by irwin
& Co, except that of Hutchinson plan
tation.
Banks May Combine.
Following closely on the Brewer-I
win deal, though in no way connected
with it, comes the probable combina
ton of the First National Bank an,
the Bank of Hawaii, preliminary an
nouncement of which was made Friday
This deal has not yet been consum
mated, but probably will be soon, a
the First National has received author
ization from Washington to increase it
CAPITAL stock to million dollars, whicl
will render possible its absorption o
the Bank of Hawaii. 1t is expecte'
that Cecil Brown will be president o,
the amalgamated concern, with l.. Ten
new Peck as the active manager. Clar
ence Cooke will probably retire from
the banking business, it being under
stood that this is his wish.
Though both big deals excited
great deal of interest and comment Of
the street and in business circles
neither one created any furry or ha
any effect on the stock market, tn
two amalgamations being regarde
merely in the light of economical bust
ness arrangements which are not liabl
to disarrange or affect the business o
any other corporations.
Russians at Work.
A. w. Perestrous and A. L. C. AT
kinson, who, as special agents of tn
| board of immigration, last week re
Y turned from Manchuria with 2l2 Rus
i sian immigrants, returned yesterda.
from visiting their proteges on tn
plantations to which the latter wer
sent the early part of the week The
i report that the new residents of Ha
wall are very well satisfied with tn
arrangements that have been made TO
their comfort, with the work, thei
quarters and their prospects, while tn
plantation managers profess themselve
c as entirely satisfied with the shown
made by the new laborers. The Rus
slams are taking hold of plantation wor
as if born to it and are already demon
y strating that the bringing of them her
was n good investment on the part Q
the board of immigration.
Twelve more Russians-three mel
five women and four children-arrive
on the China yesterday, being porto
of the original party that was held II
temporarily in the Orient on account O
'e certain technicalities. Twelve more wi
# arrive on the Manchuria November
and six more on the Chiyo Mar
3 November IL.
5. Thirty Filipinos came in on the Chin
yesterday and will be despatched I
% the plantations ms soon ms possible. Tn
10 Filipnos, while not regarded as III
=. most desirable Of laborers, are said I
be doing very well on tho plantation
IA which those who have already al
il rived have been assigned,
u, The Stock Market,
10 The stock market during the wee
n, was unusually steady there being u
"a remarkable fluctuations in price
= While trading was mol heavy, II WI
fairly active, Hawaiian Commerce.
n leading In the number Of shares tha