The Hawaiian gazette., 1912-10-08
KONA TOBACCO CO.
LOSES YEARS CROP

Messrs. II. Hackfeld Co., Ltd, are
in receipt of wireless message from
the Kona Tobacco Company, reporting
the loss by fire of the tobacco com
pany s property and thu entire tobacco
output stored in the curing rooms.
All that was saved Is reported to be
in the neighborhood OF 5000 cigars
which were stored in the cigar factory.
The cause of the FIRE is reported as
unknown.
Further particulars will be received
by the Mauna Kea this morning, and
until this is at hand the local repre-
sentatives of the company are not in
position to know just what the loss
will amount to. 1t is known that there
is some insurance ON the property, but
whether the stock was insured to its
full value or not is not yet known.
1t is estimated that in the neigh
borhood of 10000 pounds of tobacco,
valued at $4,000 were lost in the fire,
and that this will prove big draw
back to the company at this time. Mr..
Daniels, the eompany's manager, is at
present in New York arranging for the
sale of the 1911 crop, and now that the
| 1912 crop is gone the directors feel that
it will be hard matter for the com
1
| Eastern manufacturers.
Hackfeld & Co. have advanced in the
eighborhood of $4,000 to the corpo-
ration, the money being used to in
crease the acreage and plant. This
loan was TO be for four years, the
company agreeing to repay the amount
out of the proceeds of the crops in four
annual payments of 100000. In re-
turn for this accommodation the Hack.
field people obtained the sole right to
act as the selling and financial agent
of the company for ten years.
In all, about $50 acres of tobacco
| land are held by the Kona Tobacco
Company. and at the present time
about 100 acres are under cultivation.
For the 1913 crop it was. intended
10 have 200 acres under cultivation,
and the stock holders were looking for
ward to a good investment of their
money just as soon as they could get
their company going full tilt.
Mail Insurance.
A new feature has been introduced
by the Home Insurance Company,
whereby valuable mail matter may be
insured by the merchant or individual
at small cost. Registered letters
through the postoffice are insured as
to delivery only; if lost, unless gross
carelessness can be proven, there can
be no recovery of value beyond ten
dollars. The insurance company will
pay in full the value of the package
in case of loss, offering certificates for
sale at their Offices in the Gunst build
ing, where packages may also be reg
istered.
| ~, Hhonono
Waialua dropped to 112 yesterday
and will go lower. Oahu got to the
25.25 point, as predicted, and may go
a shade higher before it drops back
to 25, possibly the lowest point it will
reach before March.
Missourian Cargo In.
Alexander & Baldwin, Ltd, received
the following cable from New York
yesterday:
American arrived yesterday, basis
f17, last half of Missourian g cargo.
Ship Edward Sewall arrived today,
basis Ala.
''Holders of raws are asking All,
but not firm at this price. Refiners
bidding &c less than holders are ask
ing.
''London beets: October, 9s Cd;
May, 9s 10.'
Norris Midway to Resume.
Norris Midway, which is largely
owned by Honolulu capital, expects
soon to resume operations, which closed
down some time ago, In the interval
the company made overtures to the
Union Oil Company with a view to
selling. Nothing came of it, and the
directors at meeting the other day
decided to try and raise the money
necessary to resume on the 2,000-foot
hole, in the last fifty-fve feet of which
the management says there has been
developed strong showing of gas and
oil, When the money is raised there
will be tryout of the oil-sand that
has been penetrated that distance.