Honolulu star-bulletin. [volume] (Honolulu [Oahu, Hawaii]) 1912-2010, 1913-03-04
N'BRYDE'S DEBT
MATERIALLY
REDUCED

McBIyde Sugar Company lad a
crop OF 1891 tons AMI 1925 pounds
CT sugar for 1912, and Manager F. A.
Alexander estimates $4,000 tons for
this year. Milling was s:arJea De-
.eenber Is and at the endE of January
3157 tons CT sugar had been manufac-
tured. the fields thus far harvest
ed have run over the estimated ton
nage of cane" the manager says,
but the juices have been lower than
those Ct the corresponding time last
year" Referring to the work of the
past year, he says: The hydro-elec-
trio pumps stood the test of almost
constant water supplying the planfa-
ton with sufficient water to keep all
our large cane in good growing con-
dition BY favoring the mature cane
fields, some OF the 1915 ratoons SUI
sered, and the 1914 planting. was fin
ished later than usual, but the warm
winter weather is causing rall the
young cane to make an exceedingly
rapid growth"
There is an area of 295114 acres
for the crop of 1914, of which 9S5.1S
acres is plant cane, 1S15.16 acres ra-
toon cane and 5000 acres homestead
cane. Tests are being made of new
Hawaiian canes to compare their
value with that of the Lahaina cane.
During 1912 the mill and boiling
house ran continuously and smoothly.
no stops being required for repairs.
In the fall a 75-horsepower electric
motor was installed so that most of
the sugar drying is now done by
means of electrical power, saving men
end expense especially on Saturday
nights. The chemists mill report
shows a higher extraction and re-
duction in the total losses over the
previous years report.
During last year $42,500.63 we're
spent in different improvements
Ironwood and eucalyptus seeds
were gathered and several small for.
est nurseries started, from which a.
total of 1890 trees we're planted in
four different sections.
The tachinid fly, natural enemy of
the cane borer, has spread all over
the plantation.
In conclusion Mr. Alexander gives
the following gratifying account of
labor conditions
During the fall the new profit shar-
ing bonus was paid to all the I'M
skilled laborers, and has had mark
ed effect in keeping the men at plan
tation rather than outside work.
A special bonus, based on the
earnings of the plantation, was paid
to the skilled laborers.
During 1912 there has been a.
marked cooperation of the employees
in all departments of the plantation, |
In furthering the interests of the Mel
Bryde Sugar Company, Limited
j. Waterhouse, treasurer, refers to |
The refunding on July l of the ST.
100000 six per cent bonds Of the COM I
pany at five per cent, and in that /
connection calls attention to the fact |
hat the Indebtedness of the company
70 the agents on December 81, 1910,
amounted to $723,35257, and that they |
had bills payable on that date of $75,-
700, making total Indebtedness OF I
S798,352.57. The indebtedness as of |
December 81, 1912, amounted to $751;
'51.99, including $4,000 charged by
he agents to the plantation in open
account, which amount was used in
aking up the bonds of the Kauai
electric Co., for which the McBryde I
Sugar Co. was responsible and on
which. it had to pay interest There
ore the McBryde Sugar Co. has re-
!uced its Indebtedness a little over
$4,000 during the last TWO years.
This reduction of indebtedness"
avs Mr.. Waterhouse, together with
. saving of $4,000 per annum in bond
interest, means saving to the Nc
3ryde Sugar. Co. of over $4,000 per
.nnum, even should the dividend on
100000 preferred stock at per cent
e considered as an interest charge,
s against the usual charge of 6 per
ent on said amount"
Assets are placed at $500, $685.
f which $413,f33.87 is credited toll
roflt and loss account. Capital stock II
mounts ito $685. 21.69 of which the
ommon stock is $3,450,000 less $780, 4
1881 treasury stock, making $685.
21.69 net, and 100000 preferred.stock.
IS already stated the bonded debt is
100000 and the debt to Alexander
Baldwin, Ltd. agents, $f52,251.99.
Earnings for 1912 were 1854 ,255.9S,
f which S930,513.1S was from sugar. II
)educting $911 ,646.17 cost of crop and
he net earnings for the year amount
D S42,609.81. Out of this came $42,-
90 dividend on preferred stock,
'hich left $609.81 to be carried for
ard to profit and loss account. i