The Hawaiian gazette. [volume] (Honolulu [Oahu, Hawaii]) 1865-1918, 1912-09-17

tic up this country because Of q few
bondholdcrs who did not approve, |
had nothing further TO say We went
ahead ON our own plans. The company
sold at 30 and had to give bonus in
stock in addition
"The total outstanding bond issue,
including the original issue Of a million,
is $I,500,000 at 8 per cent The out.
standing stock is practically the same
$4,500,000 We paid dividend in the
early stages when we had 10000 in the
treasury, of four per cent. Since then
the road has been extended and tho
earnings have not warranted further
dividends. -
Homestead Possibilities.
"Your interest in railroads and lands"
said Secretary Fisher, "'has led you to
observe and think about the question
of homesteading, presume. What are
your opinions ms to the feasibility of
carrying out the homesteading theory
with cane landsi"
'That is question with which 1
have not had to deal,' was Mr.. Dilling-
hams reply. 81 really don't know
what to say about that proposition.
While l believe it would be good
thing to have more people who could
make a living, it would be well to
have such a proposition made clear. 1t
is desirable from the railroads stand
point and for transportation generally,
but ! have not been able to see how it
would be good thing to uproot thor
oughly established industry which has
earned an immense amount of money,
to put in possibly lot of mahhinis,
people who are not acquainted with the
possibilities of agriculture, to dispiace
one thoroughly established system by
putting in something else, an expert
ment that has been untried rs a whole.
Wherever it is possible for proper IN
ducement to have people settle here
and take up homesteads and work them
as small farmers where it is possible
to do so, why l will be in favor of it,. -
"What do you think of the posslbi-
litiesi"
"The pineapple industry which was
started, was just the thing we had
hoped for for the people of this country.
A number of people who started on the
land along the o. r. & l.. road, put in
considerable money to start an enter
prise which they had never seen. 1t
led ultimately to the starting of the
pineapple industry on the uplands.
That industry gave great promise for
homesteading in small way. Then it
became apparent it would be necessary
to have capital to put up cannery and
this requirement had developed until it
took very large amount of capital
Now if these people can get ten, TWEEN
ty and forty acres to raise pineapples
on and sell them at prices which have
been offered by the canning companies,
it looks good to me. How long it will
last for man to put in his all and
build house and put in equipment,
and then if the production is in
creased to any great extent or any
serious blight takes hold, / don t know
| what he would substitute for the failure
of this enterprise. That is great
trouble.''
Suppose we did not have any addi.
tional population at all, but the ques-
ton was as to whether it was better for
the present population living here, or if
the lands subdivided did not have any
increased population, what would be an
improvements asked the Secretary.
'That is-more than / can say re.
piled Mr.. Dillingham;.
A Dangerous Experiment.
We have lot of this cane land be.
longing to the government Those
leases are falling due. The government
must do something. The question is as
to whether to lease them to the large
interests or induce small holders to
take them over.''
81 do not know. 1t has not been
! Vi II 1. 4
gerous experiment. / know of this in.
stance. I know that the planters ac-
quired refinery in San Francisco. The
refners thought it would be good to
enlist the sympathies of the California
beet sugar growers and raise beets so
they could keep the refinery going all
the year round. That looked like a
good proposition. They made contracts
with farmers to do this thing. The far
meTs would not make contracts for moro
than year at time. After the con.
tracts were up the farmers abandoned
beets and went into wheat.
ga sugar mill costs nearly million
dollars. That is large amount to put
into a mill and not have control of
enough land to be sure of crop that
will enable the mill to make expenses.
me 1nlClal h-SKb.
Under questioning by Attorney Ash.
ford for the Delegate, some interesting
sidelights on Mr.. Dillingham's early
struggles in the development of the
country were shown. He was asked if
he received any promoters stock for
the launching of the Eva plantation.
He replied he did not receive any. He
has not been considerable stockhold.
err. He sold some wood to the planta.
tion for $4,000 and received stock in ex-
change. Those who backed Eva at the
start took a hazardous chance. Castle
& Cooke, the agents, came very near
suspension at one time in trying to
carry on the plantation. AS to Waia
lua plantation, Mr.. Dillingham; said he
bought out Bishop Estate ranch lease
for $4,000 and that was the basis for
the establishment of the plantation
that and the old Halstead plantation
which formed the nucleus. The Hal
stead holdings had already been estab.
Iced as plantation, turning out from
700 to 1000 tons of sugar. He obtained
a lease outstanding on the ranch for
twenty-four years and secured an agree
ment later from the Bishop Estate to
have this extended to fifty years by
doubling the rent and agreeing to pay
5000 q ton ROYALTY on sugar produced /