The Hawaiian star. [volume] (Honolulu [Oahu]) 1893-1912, 1912-03-07

\ The Olaa plantation last year ex-
ceeded its best previous yield by over
5000 tons of sugar, and the net profit
OF the crop was $317,426.SS, against a
met profit, from crop and store in
1910, of S11,810. The yield was 25,-
096.67 tons, opoover 5000 tons in ex-
cess of the estimate The average
tons of sugar per acre of cane was
also higher than in any previous
year, being 1897 tons against 9.18 tons
in 1910, and 1856 tons in 1908, the pre-
vious banner year. The sucrose con
tents of the cane last year, however,
was thirteen per cent lower than the
year before, but the losses in manu-
facture were .613 per cent. less than
1910.
These figures are contained in the
annual report of the manager and
treasurer of the company, prepared
for the annual meeting of the com.
,pany held at two o'clock this after
noon.
Manager ]. Watts report is consid-
cred very favorable. For the present
year he estimates a yield of $4,000
tons of sugar, and the grinding thus
far done has been satisfactory. The
crop for this year will be from
625S.96 acres, or over 200 acres less
than the acreage of the 1911 crop.
The manager recommends the in.
stallation of a new three-roller mill
to be added to the present equipment
thus making a twelve-roller mill. With
the exception of probably eight more
settling tanks, this additional equip
ment will be all that is required for
the immediate future.
The general condition of the plan
tation is reported as good despite the
fact that little shortage, of labor
was experienced a portion of the past
season.
The plantation has recently added
another fifty-ton locomotive and TWEEN
ty iron cane cars to it's rolling stock
equipment. This with fifty more iron
cars, which are recommended, will put
the transportation service of the com
pany in fine shape.
The old officers and board of direc
tors were reelected, with the excep
ton that E. A. Mott-Smith was elected
a director in place of Alfred w
Carter.
S. M. Damon made the following
statement to the assembled stockhold
ers of Olaa this afternoon:
Mr.. Damon's Statement.
Representing the agents of the OLA
4 Company and supplementary to thu
information contained in the annua
report just submitted, l would like t.
add some additional facts and figures
which will perhaps give shareholder
a clearer understanding of the presen
status of their property.
During 1911 the plantation wiped
out $349, 1888 of it's floating indebted
ness, leaving an amount of 1884, 1880
still owing, as shown by the balance
sheet. Contained in this last named
sum, however, is $149,649.41 of ad
vance which the planters owe the plan
tation and which, If called in, would
leave the company's floating debt a
! 34,5O9.65.
Then again, from the period wher
Bishop & Co. became agents of the
company, the plantation has acquired
4 1925 shares of the capital stock o
the Sugar Factors Co., Ltd, paying
for the same in assessments levied
from time to time. This stock is now
very valuable, being probably worth
about $4,000 a share or 1865, 10000
But figuring it as worth only the
amount paid for it, plus the Interest
which the Olaa Company paid for the
money advanced to purchase it, the
value is S2SS, 452.OO.
! There is not the slightest intention
to part with this stock but assuming
for arguments sake, that it was SOLD
at the last named figure, and also that