Honolulu star-bulletin. [volume] (Honolulu [Oahu, Hawaii]) 1912-2010, 1912-09-12

the QudutiIy Oh t810 q single nome
steader should be able to handle
with iaborers under his supervision
Goodale thought one man and his
family could take care OF S acres
per individual. and that ten acres
would be a maximum.
Against demonstrating.
Then Mr. Fisher asked him as TO
his opinion of the desirability of
demonstrating the cane lands. Mr..
Goodale said there is no question as
TO its desirability. Fisher asked him
If 1t is feasible in view of all condi.
tons.
Il think that Il Is not" said Mr..
Goodale. and repeated this answer
clearly.
Attorney Ashford then questioned
Goodale In some detail as to the leas-
ing system used by Waialua. and the
price. Goodale said Waialua charges
$50 per ton for manufacturing. haul
ing shipping. selling etc. He thought
this price was mot far from right :.
and told of how it came to be made
some five years ago. Then followed
a long discussion as to crop costs,
leading to a statement by GoodaIe
that it cost him more than $500 an
acre to bring cane to maturity.
Future Sugar Prices.
At this point came a declaration by
Mr.. Goodale that the sugar man.
looking forward over ten-year per-
iod. should figure on an average
gross return of less than so per ton
of sugar.
Secretary Fish0 took hand in the
discussion and began figuring on cost
of production. using figures furnished
by Goodale as q basis Estimating q
yield Of s tons of sugar per acre. the
Secretary gathered statistics from
Mr.. Goodale giving. cost Of $43.s5
per ton Of sugar. or $263.70 per acre.
Mr.. Fisher then took up the cost of
marketing, which was given as $l2
per ton delivered In New York Mr..
Fisher figured that on these figures
Goodale would make only $24.05 q
ton profit. Then he asked Mr.. Good
ale:
What I would like to ask you is
how you can stay in the sugar bush
ness at all?"
Il don't. know what you mean, .
said Goodale.
What I mean said Fisher, is
how, with all your investment you
have told about, heavy interest, ETC.,
you are making any mOneY--hoW you
are not making net annual loss.
Fisher wanted to know If the home
steader. whom it would cost ten per
cent more to raise sugar, could make
any profit at all, and Goodale doubt
ed It.
Goodaie,s Figures Talked Over.
Fisher asserted that according to
Goodale's figures the small planter
would be losing 81 a ton on every ton
of sugar he produced III cane. his ex-.
pense being S. per ton more than it
would cost the large planter. Goodale
figured 1t cost the manufacturer APP
pfoximately $50 a ton to handle the
cane from the car and up through the
manufacturing processes to the final
refined product. Mr. Fisher went into
the details of these figures, ascertain-
ing how the various items we're esti-
mated
Goodale said the Waialua mill fig-l
used an interest income Of 5 percent
Oh its investment Of something like.
$1,000, 900. he said this was on the
amount invested, not the capital,
which he, asserted is only about 81
100000.
rHow can any man afford to &c. into
the business. liz these figures you have
given are the real items of expense? ?"
Fisher asked.
That's what |. say, 2 replied Goodale,
ait is q very poor business, especially
for the small grower He made no
denial of the Secretary's statement
that the figures showed even the large
company must be losing money on its
investment.
Attorney Ashford again took MP the.s
discussion, asking regarding the COM
Eartiye figures fer 1911 and 1870 for
tce Weia W.
Secretary Fisher remarked aztec a
few moments desultory talk. that he
understood the Eva Plantation lad re
Gently paid dividend Of II to "a per:
cent on its investment. He noted this
Of the Waialua. which apparently was
paying only 10 percent on the cap,la;-
ization. which did not account for IN
teyest on the investment.
Finally he asked. I'm other words
your plantation Is not worth now. as
much as has been invested it in?'
THAT may be true" was the reply.
Attorney Olson then asked how long
1t had been since his company had
paid d dividend. Goodale replied that
the last dividend was paid In 1903:
Goodale said that in discussing. the
cost of cane cultivation by the home