Evening bulletin., 1911-03-30
STOCKHOLDERS
MAKE INCREASE
Continued from Page y

The stock will not be sold for less
than par, and no discounts or commits
sions will figure in the transaction. so
that the McBryde Sugar Company will
realize par value on every share OF pre-
ferred stock issued under the forego-
ing plan No stockholder will, of
course, be compelled to take the pre-
ferred stock, it being merely matter
of election on his or her part whether
they shall do so or not.
The preferred stock can be ex-
changed for common stock at any time
at the election of the individual holder
thereof, but the exchange once made
becomes irrevocable.
Report for Year.
The report of the company for the
past year was also made public. Man
ager VIM Stoddart says:
Crop 1910: This crop fell short of
the estimate and turned out 10,434.5 sc
tons
Crop 1911: This crop, now being
harvested which at the start eXpe-
rienced several months of dry wea-
ther, had full and regular irrigations
during the following twelve months.
The yields of cane from the fields
already harvested have so far come
up to my expectations, and this crop
bids fair to yield in the neighborhood
of $4,000 tons.
Crop 1912: This crop consists of
1,597.8S acres of plant cane, 967.01
acres of long ratoons, and 1000 acres
of short ratoons, or a total of 2,675.19
acres. The planting of this crop com
menced in February with top seed, and
ended August 31st, 1910. The ra-
toons were also all hilled up in good
season, so that with favorable wea-
ther conditions it ought to give a good
return.
Stoddart's report takes up in detail
the progress of the company toward
securing permanent water supply, in
cluding the installation Of an eight
million gallon pump, the total expen-
diture for the year for water develop
ment being $50, 1903. The new Wal
nina power house has been completed
at a cost of $59,S21.S9.
He continues:
Three years experience of the Ka-
mooloa Ditch, which brings storm
water from the mountains back of
Lihue, has emphasized the need Of
further storage capacity, for the Ko-
loa end of the plantation.
The usefulness of this ditch has been
very much handicapped by the made
quate reservoir capacity for storing
the water, and to meet this need, four
new reservoirs have been constructed
in the Aepo Valley, with a combined
storage capacity of $50 million gal
Ions.
Advantage Is taken of one of these
dams to lay the East Laval branch of
the railway across it, thus obviating
the necessity of an expensive bridge.
We have spent for the construction of
these reservoirs up to Dec. 31st, 1910,
$42 1898.
Wahiawa Mountain Reservoir
The preliminary work in connection
with this reservoir such as making
the supply bitches and tunnels from
the Wahiawa stream to the site, and
also making the necessary trails to
facilitate the transporting of material,
etc, has been finished. 1t is expected
that the building of the dam and all
other necessary work in connection
with it ready to store water will be
completed early this summer. The
amount spent up to Dec. 31st, 1910,
under this head was $6,271.70, or Il
total expenditure of $4S,431.OS for res
ervoir construction during the year.
j. p. Cookies statement as treasurer
shows an agency account with Alex
ander & Baldwin, the agents. of
$723,35257. 1t is to wipe out this debt
that the new stock issue was determ-
med upon. On the profit and loss ac-
count $545,2S7.G6 is charged up The
total debts of all kinds exclusive Of
the bonded debt Is close to a million
dollars. The net deficit carried down
on the 1910 account is $2S,249.32.
Officers and directors were elected
as follows:
Onicers-H p. Baldwin, president;
B. +. Dillingham;, LIST vice president.
d. y, r. lsenberg, End vice president;
j p. Cooke, treasurer: T.. T.. Paxton,
secretary; ID. y. Mmdock auditor
Directors II. +. Baldwin, h. +. Dill
lingham, ID. =. Il. lsenberg w. A..
Kinney j r. Cooke, Il. T.. Paxton,
John Guild