Honolulu star-bulletin. [volume] (Honolulu [Oahu, Hawaii]) 1912-2010, 1913-02-15
$4,000 TONS
OAHU ESTIMATE
Continued from Page y

Securities on hand as at January
/, 1913, amounted to $408, 393.71. Sink
ing fund disbursements were $685.
S5S06.
A special report relative to the
Waiahole Water Co., Ltd, is made
by the treasurer, which begins with
a statement of the decision, Of the
Oahu Sugar Co. to issue new bonds
to the amount of $2,506,000 at per
cent and redeemable at 103 and con-
tinues as follows:
"Of the old bond issue of $780,
10000, $685., 100000 are still outstand-
ing, which, figured at 1913, will make
a total of $SS4,770.00, and, accord
ing to the terms of the trust deed,
will not be redeemable until April
LIST, 1918. Against this, however, the
value of the securities now in the
hands of the Trustees for the Bond
holders, estimated at $40S, 393.71, and
the amount payable to the sinking
fund of the company, in accordance
with the trust deed for the past year
of 1912. viz $80,195. 46ssor a total Of
1891 Isl to fbe taken into con-
sideration and deducted, thus leav-
ling the amount OF 1896 1908, which
wifi De- taken ff0fa t. rdrpigss now,
in the treasury ofsthe Oahu Sugar Co,
Ltd, and deposited with the trustees
for the bondholders for the sinking
fund AS the trustees for the bond
holders, however, have agreed to ex-
change bonds of the new issue for
this amount. the same will be expend-
ed towards the construction of the
water conduit q" z. 80.
ut is the Intention Of the board OF
directors OF THE company to offer to
the holders of these bonds of the old
issue, new bonds In proportion to
their present holdings, and there Is
little doubt that the majority VIII
avail themselves sof, the opportunity
to secure this frst-ciass investment,
which will run from IL to Is years.
and be redeemable i in Honolulu at
100000, or at Bremen. Germany, at
Marks 4,326l00.
"The presentsintention is to not is.
sue the new bonds before the end of
June, 1918, and then only in such
amounts from time to time as may be
necessary to carry on the construc-
ton work on the conduit"
Managers Report.
Manager E. X. Bull in his report
says that apart from the unfavorable
climatic conditions, which prevailed
throughout the greater part of the
year, the past season has, on the
whole, been a good one for the plan
tation. The crop ran considerably
over the estimate, and the returns
from sugar sales were satisfactory,
although the average price obtained
was not equal to that of the previous
year. This years crop has suffered
greatly on account of the drought.
The total rainfall for the. year was
II. 62 inches, the lowest on record
since the inception Of the plantation.
For the eight months from March to
November the precipitation was only
3. SO inches, or an average of GAS inch
per month. The pumps were kept
running up to their full capacity until
the beginning of December, when at
last there was rain sufficient to stop
them for a few days, after cOntinu-
Gus run of fully nineteen months.
Harvesting the crop of 1912 was be-
gun on December 5, 1911, and finished
on August Is, 1912. 1t was milled
from $500 acres plant, 3O3407 long
rato9n and 429.38 short ration cane.
total area of 441S.65 acres. The yield