The Pacific commercial advertiser. [volume] (Honolulu, Hawaiian Islands) 1885-1921, 1909-10-31
-Hamakua Adjustment.

Aside from these deals, one Of the
most important transactions Of the
week. As affecting commercial inter
ests. las Ieen the adjustment Of the
difficulties that have for 50 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-
2edient 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 viii
90 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 wafer.
1t has also been decided that the up
per. ditch win be cemented and its
capacity probably nearly doubled, in
surfing the Pacific Sugar Mill, Paauhau
and Honokaa of all the WAFER they
need for fuming on the upper levels.
The adjustment of the difficulties not
only restores friendly relations, but in
sures more speedy completion of the
lower ditch.
Honokaa Dividend?
There Is considerable talk on the
street of a Honokaa dividend, probably
of about fifteen cents a share, but this
is not vet assured. No meeting of the
stockholders has yet been called for
, the purpose of acting in the matter
h 10
that before long Honokaa will declare
a 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 a 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, E. Faxon Bishop having gone TO
San Francisco to confer with w. G. r.
win in regard to the matter. Full de
tails of the transaction have not yet
been received here, though it is known
that Brewer & Co. takes over all the
sugar agencies formerly held by Irwin
G. Co., except that of Hutchinson plan
tation.
Banks May Combine.
Following closely on the Brewer-Ir-
win deal, though in no way connected
with it, comes the probable comblna-
ton of the First National Bank and
the Bank of Hawaii, preliminary an
nouncement of which was made Friday.
This deal has not vet been consum-
mated. but probably viii be soon. as
the First National has received author
ization from Washington to increase It's
capital stock to a million dollars. which
will render possible its absorption of
the Bank of Hawaii. 1t is expected
that Cecil Brown will be president of
the amaIgamated concern, with l.. Ten
new Peck as the active manager. Gar
ence Cooke will probably retire from
the banking business, it being under
stood that this is his wish.
Though both big deals excited a
great deal of interest and comment on
the street and in business circles
neither one created any furry or had
any effect on the stock market, the
two amalgamations being regarded
merely in the light of economical bust
ness arrangements which are not hapie
to disarrange or affect the business OF
any other corporations.
Russians at Work.
A. W. Perelstrous and 4. L. c. At
kinson, who, as special agents OF the
board of immi grafton, last week re
turned from Manchuria with 212 Rus
sian immigrants, returned yesterday
from visiting their proteges on the
plantations to which the latter were
sent the early part of the week. They
report that the new residents OF Ia
wsii are very well satisfied with the
ARRANGEMENTS that have been made fol
their comfort, with the work. Their
quarters and their prospects, whlle Inc
plantation managers profess themselves
as entirely satisfied with the showing
made by the new laborers. The kus
slams are taking hold of plantation worf
as if born to it and are already demon
i strating that the bringing of them here
was a good investment on the part o.
the board of immigration.
Twelve more Russians-three men
five women and four children-arrlve(
on the China yesterday. being portion
of the original party that was held III
temporarily in the Orient on account o.
certain technicaities. Twelve more VII
arrive on the Manchuria November 3
and six more on the Chiyo Mari
November II.
Thirty Filipinos came in on the Chin'
yesterday and will he despatched Il
the plantations as soon as possible. Ih'
Filipinos. while not regarded as TIT
most desirable of laborers, are said Il
be doing very well on the plantation
to which those who have already ar
rived have been assigned.
The Stock Market.
The stock market during the weel
was unusually steady, there being NJ
: remarkable fluctuations in prices
While trading was not heavy, 1t wa
fairly active, Hawaiian Commercial
leading in the number of shares tina
changed hands Two blocks of 500 eacl
and one of 400 of this stock were sol'