The Hawaiian star. [volume] (Honolulu [Oahu]) 1893-1912, 1912-03-11
SUGAR MEN
Continued from page five.)

ana that the directors would be j. =.
Cooke, r. Ivers, Geo. II. Fairchild, w.
Pfotenhauer, M. p. Robinson, F. NJ
Swanzy, f. D. Tenney and A. D. Coop
er. All of these gentlemen will serve
until after the mill has manufactured
and sold its first crop of sugar, thus
insuring proper administration of
the company's affairs for the construc-
ton period. George r. Carter is also
associated with the above named gen.
tlemen and is taking an active inter
est in the matter, but at his own re-
quest was not included in the direc-
torate
Upon returning from his trip to the
Philippines, Mr.. Ross filed a report
recommending that the project be TAX
en- up, as soon as the planters who
had signed the preliminary contracts
had agreed to the final ones, in which
were embodied several changes that
were considered desirable, and as soon
as other minor matters had been ar
ranged 1t was decided to proceed as
soon as the required conditions had
been fulfilled, in accordance with Mr..
= Ross recommendations
1t was necessary, among other things,
for some of the agents for the plant
|; ers to communicate with their prin-
cipals in Spain before the new con-
tracts could be signed; and to have
a law enacted by the Philippine legis-
| lature authorizing the Provincial Coun-
ellis to grant the company certain
rights-of-way, water rights, etc. These
/ and other matters of less Importance
have held the matter back until the
present.
cablegram to Mr. Cooper from
: the company's representative in the
t Philippines, received a few days ago,
conveyed the welcome announcement
that practically everything is in readi-
, ness at that end of the line to COM
| mence work.
Speaking of the difficulties and de-
p lays encountered, Mr.. Cooper said;
of legal safeguards and insisting that
+. all necessary rights-of-wGy and so forth
= be arranged for in advance of com
. mencing operations, are considerably
2 more than they are accustomed to
f giving in the Philippines. At any
/ rate, several times 1t looked as though
the project would have to be aban
doned as it appeared that what we ask
S ed for either could not, or would not
/. be granted. But the delays seems
a worth while now that everything fun
!. damental is on business basis.
so uncertain has the project seem
g ed that the stock has not been offered
=, for general subscription up to the
e present time. A number of people
r nearly all of whom are directly in
q terested in the sugar business here
o and who heard of the matter through
their friends, have sent in subscrip
lions, and more have asked to be no
" tilted when it was decided to 81
o ahead"
o The capital of the company ma
, been placed at 100000 divided int
/, 4OOOO shares of $40 each. 1t is planned
to issue all at once. The stock vii
be sold in any number Of shares, 1
- per cent of the purchase price, tina
% is 81 per share, to be paid on cal
and the balance probably at rat
not exceeding 10 per cent per month
u Later bonds will be issued for sim
- lar amount.
ii All of the directors are stockholders
IS having subscribed for stock on ideI
II tically the same terms on which tina
a. not yet taken will be offered for gel
ID eral subscription, that is at par.
ID The company's mill will be locate
less than a mile from the town
San Carlos Here an excellent ha
Dor, one Of the only two on the ISLAM
re is formed by a projecting point
'e- land and an island, and water sun
lie GENTLY deep for ocean going vesse
en- will be reached by the company
,ir wharf. This will enable sugar to
Sc shipped direct
ar For the present it is planned TO Co
IN struct about ten miles of permaneI
it railroad. A sufficient area will
M tributary to this track to enable Il