The Hawaiian gazette., 1912-05-31
SAD IS STORY or
AMUSEMENT FIRM
ATTORNEY MAoooN TELLS or HIS
EXPERIENCES WITH HOMO.
LULU COMPANY.

As Attorney J. Alfred Magoon tells
IL the inside history of the Honolulu
Amusement Company is one Of the sad.
dest in the annals Of Theatricaldom in
these Islands since Kamehameha the
First started a moving picture show on
the makai side of the Pail, and aroused
great enthusiasm by a production of
the pictures of the first parachute
descent in Hawaii As a matter of
high finance there are certain features
of the story which if they ever come
to the ears of Jay Gould, where he has
gone, will arouse his admiration and
regret that he did not come into con
tact with the astute fnancier of Homo
lulu, during his own lifetime, when
there was possibility of working
some rare and racy scheme together.
According to the best authorities 1T
happened somewhat after this fashion.
Mr. Magoon, looking about him for
more world IS TO conquer, spied the Ho-
nolulu Amusement Company. He
wanted it, and went about getting it
in his own peculiar way. First he ac-
quired the controlling interest in the
stock. In other words he secured 7l34
shares at So share, of the eight
thousand and odd hundred shares.
These he proceeded to distribute among
the following: j. II. Magoon, Alfred
Magoon, Arthur Coyne, Charles Lucas
and Fred Noyes. There were few
shares outstanding, but Mr.. Magoon
thought he had these pretty we'll
cinehed by an agreement which he says
he made with Mr.. Chong and others,
rot to 20 into the theatrical business
in Honolulu for term of years, he ad-
mits that he has forgotten the exact
number.
Troubles Begin.
But while in control, his soul was
not satisfied and he cast about for some
way of perfecting his claim to the en-
tire company, lock, stock and barrel.
In the mean time the Youngest Man
ager on Earth was having troubles of
his own. The Liberty Theater started
up and Mr.. Magoon confesses that it
lulu Amusement Company to the extent
of fully half of its net receipts. Which
all viii admit is the most unkindest
cut that could be inflicted, short of
taking all of the receipts
This added to the already heavy bur
den of unlighted houses, leases for
which were saddled upon the amuse-
ment company, and the rent for which
haA IN lIr ~ hn ,
every month. The figures as given by
Mr.. Magoon, are $75 per month for the
Park (now happily disposed of); $3.50
per month for the Orpheum, 1925 pei
month for the Savoy, $3.50 per month
for the Empire, and $175 for the Bijou
the only house in the lot that has paid
more than running expenses
With all this the Honolulu Amuse
ment Company staggered on until the
aforesaid cut in receipts incidental t.
the opening of the Liberty came to in
crease the woes of the Youngest Man
ager. Bankruptcy stared them all il
the face. Attachments were drawn NJ
and nothing remained between the Ho
nolulu Amusement Company, says tn,
chief stakeholder, but the willingness
on the part of the Waterhouse Trus
Company to accept a mortgage TO
$4,000 This was given, to run on
week.
Transfers Mortgage.
At the end of the term Mr.. Magoo
who, in his capacity MS company ha
secured the mortgage, went to tn
Trent company and in his capacity n
private individual and stakeholder as
sumed the debt and had the mortgag
transferred to himself His holding
in the company are valued at $35 ,67C
The mortgage is $4,000 and the tota
capitalization of the company is az
proximately $4,000. Difference ca
be obtained by subtraction.
81 do not want to forecose tina
mortgage, for l do not want the PROF
erty,' said Mr.. Magoon, YESTERDAY
mortgage, however, should at n bio,
wipe ont the embarrassment of tn
leaseholds which now hang dea
weight upon the Biiou That is nc
what ] want. ] want that understood
am working as / have always worke
for the good of the stockholders. l sha
try to pull the property out of the hol
A. 1 hs,,r Z