The Hawaiian gazette. [volume] (Honolulu [Oahu, Hawaii]) 1865-1918, 1909-07-20

Hawaiian Sugar was stationary with
AZ bid and none for sale. There were
a few shares sold at Al, but not enough
to fill an order No sales of the stock
were listed on the Change. The price
| during the last few months has been
pretty steady at 40, but the shares look
| good to those holding them, and there
is no indication of any intention to let
| go. Dividends of and even 2l2 per
cent. a month are prophesied for this
stock.
Hawaiian Sugar is capitalized at only
| $2,000,000, the bonded Indebtedness has
been taken up, and a heavy crop is be-
ing harvested. A stock dividend Of 103
per cent. would not cause any great
surprise on Merchant street. II is
claimed that the plantation could pay
] per cent. a month on capitalization
of 100000. As the par value of the
stock is 20, it is believed that, with the
increased capitalization, the shares
would find ready market at 25.
Inter-Island Steam Navigation show
ed tendency to founder around a bit
} beginning the week at ITO and closing
} at I07.50. This was probably caused
by general uncertainty as TO just the
J position that the stock should occupy
, and was more in the nature of new
} commodity seeking its level than from
, any prejudice against the stock.
, The final figure of 1880 is probably
: low-water mark, and anything abOy'
e that may be looked upon as an advance
One hundred seven and half, on the
5 new basis, is equal to 100 on the bash
a of $1,j0O,OOO capitalization. The stool
r. sold at 1925 before the new issue o
: stock. There is every indication tina
e Inter-Island viii continue a very stead.
Q stock.
One of the causes contributing to tn
L present unsettled position which it 0,
s cupies in the market is the uneertaint
e regarding the dividend on the mel
g basis. The old monthly dividend wa
, 10 cents; the new will probably be 9
y or 65 cents. Till the dividend has bee
= decided upon by the directors, the traC
n ing in the stock is likely TO be ligh
>. as to the casual investor ii looks 10
much like buying pigs in a poke.
n Prophecies that the construction {
the Hakalau extension would cut int
. the business of the Inter-Island Con
pany and result in a decrease in div
y dends do not meet with much creden'
'e on Change The five plantation
which the extension will tap have col
tracts with the Inter Island COmpan
for the carrying Of their freight, an
some of these contracts have as niue
as three years 10 run. That there
= ample business for both railroad an
/ steamship lines seem TO be the gener
L belief.
The new bonds voted to finance Il
construction of the Hakalau eXtensiC
&. of the Hilo railroad are proving vel
S. attractive securities, and nearly Q
al have been taken up. The first STREET
of construction work viii be to On
- mea, and more than enough bonds
be pay for that construction work have Z
us ready been placed and the money pa
It. in. 1T is the intention TO float fro
N 100000 TO $4,000 worth Of bonds
MS construct the extension ar far an Iiak
lau, and negotiations are nov und
al way for the taking up Of the entire u
d" sold balance Of the issue. This de
! will probably be closed befOre the 81
e Of the week These bonds will be taxi
- not ia small blocks, but in large lOi
rs by some Of the strongest financial {
Mt adjustments IN the Territory, aeeordl
TO report.
These bonds are l0.20s. insuring
investment for ten years which mi
~ be extended 10 twenty al the option
the company,
pf One million dollars' worth Of The
~ securities are In reserve, 10 take up Z
ca old ISSUE Of liilo Il. Il bonds which %
II redoemable early ne1i February Tho
er Interested expect thai there Viii bee
h. healthy demand for the new seepriil'
~ Sugar shipments,
N ~ 20 date, me years sugar PHI
M mepls through ne sugar FACTORS "
Nj pany total more lhnu 10000 Con
81 lhla D. about hYf slAthH u the amop
Nhlph thn enmpany VII handle spl
10000 tons ypi remaining h. be ahlpp
me uf amount nnablppnd, shout $50 lhf
M has algeAdy hOen harvested
M M ~ July ihr snRaf laUiQl
n Company had dipped goo 900 leps
n ngaf, and lhrp yel lemhined lo0N
n ipNa hHff ihai tImG o0NaN M