Evening bulletin. [volume] (Honolulu [Oahu, Hawaii]) 1895-1912, 1912-03-11
HAWAIIAN SUGAR
men enter THE
PHILIPPINES

dent J. =. Cooke, vice president; NJ.
y. Robinson treasurer: Alfred ID.
Cooper, secretary: and that the dircc-
tors would be J. p. Cooke, X. Ivcrs,
Geo. II. Fairchild. w. Pfotenhaucr, NJ.
r. Robinson. +. NJ. Swanzy, l.. d. Ten
ney, and A. d. Cooper. All OF these
gentlemen will serve until after tho
mill has ground its first crop OF cane,
thus insuring proper administration
of the companys affairs for that pc
riod. George r. Carter Is also assoc
ciateG with the ab,vc-namcd gentle
men and is taking an active interest
In the matter, but at his own request
was not included in the directorate.
Ros1 Report Favorable.
Mr.. Ross, upon returning from his
trip to tho Philippines rendered a re-
port recommending that the project
be taken up as soon as the planters
signing the preliminary contracts had
agreed to the hral ones. which en-
bodied several changes that we're con-
sdcrcd desirable, and other minor
matters had been arranged. Follow
ing Mr.. Ross recommendations i'll
was decided to proceed as soon asl
the required conditions had been full |
filed.
AS 1t was necessary, among other
things for some of the agents for the
planters to communicate with their
principals in Spain, and to have a Law
enacted by the Philippine Legislature
authorizing the Provincial Councils tui
grant the company certain rights-of
way, water rights, etc, these and 9th
or matters which II would be tedious
to recount, have held the matter back
until the present.
A Cablcpram to Mr.. Cooper from
the company's representative in the
Philippines, received a few days ago,
announced that practically everything
at that end of the line Is In READINGS
for work to be commenced.
Difficulties Overcome.
Referring to the difficulties aud de-
lays encountered Mr. Cooper said,
Probably our requirements In the
way OF legal safeguards and in insist
ing that all necessary rights-of-way
and so forth be arranged for In aG-
vance of commencing operations are
considerably more than they are ac-
customcd to giving In the Philippines.
| Several times II lcol:ed as though the
project would have to be abandoned,
as 1t appeared that what we asked for
| either could not or would not be
granted. But the delays seem worth
while now that everything fundnmen-
| tai Is on business basis.
$50 uncertain did tho project seem
that up 10 the present no general can
vass has been made for subscribers.
number of people, nearly all o.
| whom arc directly interested In the
sugar business here, and who heard of
the matter through their friends. have
sent In subscriptions, and more have
asked to he notified when 1t was de-
cidcd to 20 ahead.
$4oo,Coo Capital.
The capital of the company has
been placed at 100000 divided into
10000 shares of so each. II is
planned to issue all at once. The
stock will he sold at par, 10 per cent.
of the purchase price, that Is 81 per
share, to he paid on call, and the bal
ancc probably at rate not exceeding
10 per cent. per month. Later, bonds
will be issued for similar amount.
All of the directors have subscribed
for stock on idcntically the same
terms on which that not yet taken will
he offered for general SUBSCRIPTION
that is, at par. '... r..