The Hawaiian star. [volume] (Honolulu [Oahu]) 1893-1912, 1910-10-01
STOCKS INTEREST
IMPROVING AND
GENERAL


to its correspondent in Hilo (The
First National Bank in regard to the
stock situation:
During the past week the Stock
Market has afforded unusual interest.
for it has been the center of a decid-
ed bear movement, causing many of
our most active investment stocks to
depreciate in value from three to fif-
teen points. The whole list has suf-
fered, but the effect was more appa-
ent in Waialua and Pioneer, the for
mer reaching the low level of SIS,
per share.
Many conflicting theories are being
advanced as the probable cause Of
the decline, but it has undoubtedly
been brought about by a combination
of causes. of which the continued de-
cline in the price of raw sugar has
been paramount.
The decline in raw sugar has I'm
turn been caused by the recent esti-
mate of Mr.. Otto LIGHT placing the
entire European beet crop at 1000 600
tons, which is $4,000 tons over the
latest crop figures for the year. The
stock market in San Francisco being
generally weak had a further depres-
sing effect as stocks like Hawaiian
Commercial could not be disposed of
to advantage there, and were offered
here at lower prices.
Certain interests are endeavoring
to. enlarge on the effect the present
political situation, as regards the i'm
migration question, is having on the
| stock market, and by so doing fur
| Their their own political ends. This
effort has undoubtedly had some eff
feet on the stock market and has
probably frightened a number of
small holders into selling their seen.
rites at a loss, but we believe has
| had very little effect on the larger
holders who see at a glance their
motives, and the political gain they
expect from this wide publicity.
A glance at the sales sheet of the
Exchange for the past week will con-
vince one that the part of the small
stock holder, who had probably bor-
rowed heavily on his investments.
and when prices broke a little. pre-
cipitated a further decline by accent
ing much lower price for his hold
lngs, In anticipation OF a call for adj
ditional deposit on his loan. A short
review of the market might be of IN
terest.
Oahu Sugar has shown the great
est activity and on Tuesday was in
some demand at $50, about 145 shares
selling at that figure, but Immediately
suffered further decline to $29.. at
which price it was freely bought, $50
! shares changing hands.
Waialua sold recently at 1929, per
share, but on Saturday last ) shares
| were offered, on which the best bid
was SIPS, which was accepted the
buyer Immediately Offering it again
at 1924. The difference of s. between
the above sale and the last previous
sale caused other holders to offer
their shares, with sales at $120 and
/ Sly Is until $115, was reached. at
which price As shares sold.
Honokaa sold as low as $13 Ia. For
considerable period this security
had been offered for sale around SIS.
with no buyers, and when a large
block came on the market it immedi-
ately broke the price to $14, not more
than 65 shares actually changing
hahus between those figures. The
sale OF 100 shares at S14, on Monday
was bought back by the same broker
later in the session,-his reason for
so doing is still matter of conjec
ture.
In view of the short crop this year
on Honokaa, it is current here that
the dividend is to be discontinued.
which is without doubt the pro-
per course to pursue, as it is more
to the interests of the stock holders
to drop the dividend when the pay
ment of same is straining the Com
pany financially.
EVA has shown a steadier tone
than the balance of the market.
principally because this stock is be- |
coming more and more an investment
security and does not appear to be |
subject to violent fluctuations. |
The speculative stocks such as
Olaa, and McBryde have naturally
felt the downward movement consid- |
erably, but seem to be in demand at
this lower level, S., being bid for Nc '
Bryda and IS IA for Olsa.
Today (Friday) the market became
very active and over $50 shares of /
Oahu changed hands at 500 rs. dur
ing the session, $40 rs being bid for
more on the close. This was followed
by strengthening in most of the other
stocks, Waialua was SIG bid Pho
neer S2l5 sales; Honokaa II bid;
Eva S31 3-S bid, $31 SIS asked. with
dividend of Coo, per share off, with
small block of Hawaiian Commercial
at $3S per share.