The Pacific commercial advertiser. [volume] (Honolulu, Hawaiian Islands) 1885-1921, 1909-09-16

IS FAVORED
Continued From Page one.)

ASOAtlAuCu / ans 0u0.J
from the operations OF the Alameda
and Mariposa has not been devoted
to the redemption of bonds as pro-
vided for in the mortgage and trust
agreement, but has been diverted to
the settlement Of the alleged claims of
the John D. Spreckels & Brothers Com
pany, and "to the payment of con-
tributions amounting to many thou
sands of dollars for lobbying purposes
and other illegal and unauthorized ex-
penses. J,
The allegations of the lengthy docu-
ment are concluded as follows;
HPlaintiffs aver that the said
Oceanic Steamship Company, said John
D. Spreckels, said Adolph Spreckels,
said John D. Spreckels & Brothers Com
pany, and said Union Trust Company,
said trustee, have conspired together,
and are acting in collision for the
purpose of depreciating the value Of
said outstanding bonds and enabling
the said John D. Spreekels and Adolph
Spreckels to acquire all outstanding
bonds of said Oceanic Steamship Com
pany at prices far below their actual
value.
It is pointed out that the value of
the bonds has already been deprecated
to approximately $487, their face value
being $1,000.
The complaint asks for the removal
of the Union Trust Company as trustee
for violation of its trust, and the ap-
pointment of a new trustee by the
court instead of by the majority stock
holders of the steamship company,
John D. and Adolph Spreckels.
Burning Both Ends of Candle.
1T looks to me like burning a
candle at both ends, i" added Mr.. Wood
yard. First, the allegation is made
that there is a conspiracy to depre-
ciate the value of the bonds to benefit
some one. Then it is asserted that
some one contributes to a lobbying
fund, presumably to fight for a ship
subsidy. That working both ends
to gain something, and yet those three
steamships, built in Americ III yards
and flying the American flag, are kept
idle, while there is SO much talk about
the need of more passenger accommoda-
tons between the coast and Honolulu.
81 don t know what they mean by
lobbying, and fund for lobbying,
but if it is in the interest of ship
subsidy, then they had better put those
three vessels into commission
81 had little knowledge of the
eoastwise shipping law. I supposed,
when [ came along to the Pacific coast,
that all you had to do was to step
aboard the next steamer bound for
Honolulu and the Orient, just as you
would do at New York city to go to
Europe. [ imagine that, to a man of
moderate means, delays while waiting
for boat with an American flag
would be costly. You are trying to
bring people here, and they should be
allowed to travel on the boats which
touch here. | can easily see the diff
ficulties facing would-be travellers.
81 believe that the suspension of
the coastwise law would be good
thing. leaving the power in the hands
of the Executive to reestablish the
law, should conditions SO shape Them
selves that American shipping inter
ests provide adequate passenger facil-
tiles to take care of the business.
Yes, even the suggestion of tax
upon the ticket purchased for passage
on foreign steamship of say $25
would help matters out