Honolulu star-bulletin. [volume] (Honolulu [Oahu, Hawaii]) 1912-2010, 1912-09-14

A. Yes. = 3 ,@f
Q. what-did you have to nav rs
much as par for the Wilder stock!
A, We had to pay $50 share.
@. As matter of fact. You had 10
pay at the rate Of $4,000 for that
Company?
A. Yes.
@. And what did you do, transfer
the whole Of that property to the Inter
Island Company.
A. Yes.
@. There was a little increase in
the valuation of the stock when you
Fut the two together? You put your
own in at more than par? =.
A Yes vat one and a quarter. E.-
@. At one. and a quarter and call
the whole thing s1,50O.0oo. What hap
pened after that? -: -
A. An increasing value "
@. That is, you issued stock divi-
dend?
A. Yes. in 1909 we increased our
capital stock to $2,250.000.
@. That was an increase OF $780,.
600? e. ..... =
= A. Yes. ~.
Q. It was a physical valuation?
A. Yes a physical, valuation.
Q. 1t was not based on earning
power?
A. No. ..-.-.. ~. ~.s ~.
@. As matter Of fact the theory
on which this stock was increased
was that you had physical assets
worth that or more than that at the
time you made the Increase?
A. Yes. --.~- -. ........-
Q. What are your rates In general,
how do You make the rates-what
are they based on?
A. As a general thing, rates?
@. Yes. - 9.
A. Well, I don't know
@. Are they based on mileage!
I A. We cannot altogether base
them on mileage. There are certain
ports on the lee side of the islands
which are accessible. There are other
ports on the windward side OF Ha-
waii-there are altogether in Hawaii
f26 landfngs-there are is private
landings and 8 government landings
@. You stop at all these?
A. Yes. On the windward side Of
Hawaii there are is private landings
and only one government landing and
these are the ones which are so diff
cult, especially in the winter time
They are very hard to approach.
Sometimes the steamers cannot enter
and have to bring the freight back
with them. We cannot base the rates
on mileage. 1t is q great deal on the
quantity or freight and the conditions
of the landings themselves.
@. Is there any real basis that you
can explain to me or any one else for
those rates or is it like railroad rates
on the mainland
A. / presume it Is much like that.
That is, the rates were there when !
came. may safely say, 50 far as
general merchandise Is concerned
some of the rates have been reduced
quite considerably.
@. AS between two ports You say
the rate here b 80 much and the
rate there is so much more how
can you explain that to me?
"A. In some cases we put . little
more for instance there is the KOna
side where there Is perhaps there are
5 landings In the Kona district per-
haps 80 or so miles apart where the
conditions are about the same. Well
there the rates are all the same.
@. You say we'll the disadvantages
of one kind are offset by advantages.
IT Ifs about alike. II the distances
are little further the ports are more
accessible?
A. That is shout It.
@. ] represented some Of the ship
ping interests on the mainland and
one of the representatives said that
they make railroad rates good deal
like playing golf-I suppose the
steamship rates are something like
that?
A. Yes, In some ways they are.
@. There is mo scientific principle
the rates that You charge?
A. Some ports are easier to get to
han some Others. Some ports 1t is.
such dangerous thing to go into the
landing sometirnes In the winter
lime we have to take back all the
freight, it is so rough.
@. Now, then, these landings
which you spoke OF, who maintains
hem? : J. i. tg=s
A. The plantations MAINTAIN
ome and we maintain the m0orings.
Ne have or moorings to hold the
steamer in position.
@. The rate that you charge, is
hat the rate after the freight is de-
ivered to you and until you deliver
t on shore, or what is the rate?
A. Yes, the freight is delivered on
hore. .."
O.. That is to say the consignorI
rings the goods to you at your ter
hinal station, for Instance, at thel
wharf. You deliver to say to Hilol
n the wharf. Is that equally true
f private landings?
A. / do not know. : g. .--E&
O.. You collect no freight charge
ourself?
A. No. ''&'i.
@. What would you say-what is
he rate on freight of different class
s. from here to tHilo?
A. $500 and $3.50. ,
n That 10 hnIL frnipht3