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

enO AA0uGes VI 18tAu . SluSIc auutc-
steader should be able 10 handle.
with labOrers under his supervision.
Goodale thought one man and his
family could take care OF acres
per individual. and that ten acres
would be maximum.
Against demonstrating.
Then Mr.. Fisher asked him as to
his opinion of the desirabflity OF
demonstrating the cane lands. Mr..
Goodale said there is no question as
to its desirability. Fisher asked him
If it is feasible in view of all condi
TONS
Il think that 1t 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 Shy 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 1t came to be made
some five years ago. Then followed
a long discussion as to crop costs,
leading to statement by Goodale
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 Fisher took 2 hand in the
discussion and began figuring on cost
of production, using figures furnished
by Goodale as basis. Estimating q
yield Of tons of sugar pen acre. the
Secretary gathered statistics from
Mr.. Goodale giving q cost Of $43.9sl
per ton of sugar, or $263.70 per acre.
Mr.. Fisher then took up the cost Of
marketing, which was given as SIS
per ton delivered in New York. Mr..
Fisher figured that on these figures
Goodale would make only $24.05 e.
ton profit. Then he asked Mr.. Good
ale:
"What I would like to ask you Is
how you can stay i'm the sugar BUSH.
hess at ALP
IT don't know what you mean, :
said Goodale.
What j mean. said Fisher, is
how, with all your investment yon
have tsld about, heavy interest, etc.
you are making any money how you
are not making q net annual loss.
Fisher wanted to know II the home
whom it would cost ten. per
cent more to raise sugar. could make.
any profit at all, and Goodale doubt
ed It.
Goodale,s Figures Talked Over.
Fisher asserted that according to
figures the small planter
would be losing 81 a ton On every ton
Of sugar he produced in cane. his ex-
pense being SIS per ton more than It
would cost the large planters Go0dale
figured it cost the manufacturer ap-
$40 q 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 were esti-
mated.
Goodale said the Waialua mill fig-
u.ed an. interest income Of $ percent
Cd its investment of something like
100000. he said this was on the
amount invested, not the capital,
which he asserted is only about 81
500, 900.
sHow can any man afford to- 60 into
he business. il these figures you have
given are the real items Of expense? 2"
Fisher asked.
That's what say, replied Goodale,
1T is very poor business, especially
Tor the: small grower He made no
ienial OF the Secretary,s statement
hat the figures showed,eyen the large
.cmpanyimust be losing money on its
Investment.
Attorney Ashford again took sln the
discussion, asking regarding The com
sartiVe figures for 1911 and 1910 for
ces sVoia ti..
Secretary. Fisher remarked after a !
lew moments desultory talk. that he
the Eva Plantation had re-
,ently paid dividend Of IL to "A per
,ent on It's investment. He noted this
if the Waialua. which apparently was
,aying only 10 percent on the cap.ia:- /!
zation, which did not account for IN
crest ON the investment
Finally he asked. In other words
Iour 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
I had been since his company had /.
,aid a dividend GoodaleS replied that /
he last dividend was paid in 1908.
Goodale said that in discussing the
cost of cane cultivation by the home