The Maui news. [volume] (Wailuku, Maui, H.I.) 1900-current, 1911-08-05
Honolulu
Newsletter
Racy Paragraphs From the Capitol On
Current Topics.
(By oscar Brenton.)

Mountain King Mining and Milling
Co., incorporated under the laws of
Arizona, were jolted last week by
the announcement of six cent per
share assessment. Indeed the shock
was SO great that it is mooted on the
street that a resolution calling for a
change of name of the company to
the "Stingaree M. M. &Co. )" will be
presented at the meeting to be held
in September. Take it all the way
through Mountain King was the
biggest lemon slipped to Honolulu
since Kehei was doomed. There is
man here who went in for two
hundred and fifty shares at two bits,
and from that on at various prices
until he accumulated something
like fourteen thousand shares. The
price advanced TO 5000 at one time
and many shares changed hands at
that price. Then came drop.
One man here in Honolulu man
ipulated the stock on reports sent
out by an employee of the company
in San Francisco. When the slump
came letters were written to the vice
president, Mr., Hall, who was look
ed upon as very straightforward
business man. He squared himself
by writing to those who had inquir-
ed that the boom letters sent out
were unauthorized and in future
only those written on the stationery
of the company should be consider
ed as the real thing in dope. The
assessment notice received Saturday
was one of them. 1t is. said that
one or two men in Honolulu made
themselves rich enough to settle
down to the simple life through the
letters sent from San Francisco and
the sales that followed.
The strange part OF it all is that
assessments can be made in Califor-
MIA on worcestershire shares in COM
panies organized in other states and
Territories. 1t opens the way to
heart -burnings all along the line.
know of half dozen California COM
panies, organized in other sections
of the country, that may be open to
assessment at any time. This
Mountain King affair may keep peo-
pie from throwing away their money
on such things hereafter. AS a
matter of fact there is no safety III
. any company doing business in Cali.
fornia no matter where they are in.
corporated. After all it is better to
invest in Hawaiian securities, if the
companies are incorporated under
the laws of the Territory. A sup
, RENE Court that will decide that
non. .assessible shares may be assess
ed, if the companies do business il
California, may know the law but
disregards justice. will invest my
money in government bonds when
get it.
Frear has issued an ultimatun
regarding homesteading. 1t mus
be the real thing or all bets are off
/ am told that it is something of th'
sort now developing that Cupid viii
use as a stick against the chief exec
utive of the Territory. Homestead
ing in Hawaii in the past has heer
a farce. 1t has been the lever t.
raise deeds for land from the in
dividual to the plantations and The
governor says it has to be stopped
Then the question comes up. Wha
right has anyone to say, unde
present conditions, that man whC
buries himself in the woods fo
three or five years, what he shall do
with his property. l cannot an
swer. If | could / would not, but
am willing to guess that the maj
who takes up a small section of lane