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

McBIyde Sugar Company had a
crop OF 1881 tons and 1925 pounds
OF sugar for 1912, and Manager F. A.
Alexander estimates 1900 tons for
this year Milling was started De-
cember Is and at the end of January
1861 tons OF sugar had been manufac-
;gred. ne fields thus far harvest
ed have run over the estimated ton
mage Gf cane, the manager says,
but the juices have been lower than
hose OF the corresponding tine last
year Refer ring to the work Of the
past year, he says: The hydro-elec-
tric pumps stood the test of almost
constant water supplying the plaata-
ton with sufficient water to keep ali
cur large cane in good growing con-
dition. By fayoring the mature cane
fields, some Of the 1915 ratoons sur
:ered, and the 1914 planting was fin.
ished later than usual, but the warm
winter weather is causing all the
young cane TO make an exceedingly
rapid growth"
There is an area of 2951.14 acres
for the crop of 1914, of which 9S51S
acres is plant cane, 1Sl5.16 acres ra-I
toon cane and 150.S9 acres homestead
cane. Tests are being made OF new
Hawaiian canes to compare their
value with that CT the Lahaina cane.
Daring 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 higher extraction and re-
duction in the total losses over the
previous years report.
During last year $40, 500.63 were
spent in different Improvements
Ironwood and eucalyptus seeds
were gathered and several small for.
est nurseries started, from which a
total of 1890 trees were 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:
Is 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 !
monthly 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 Nc |
Bryde Sugar Company, Limited.
j. Warehouse, treasurer, refers to |
the refunding on July of the ST.
100000 six per cent bonds of the COM
pany at five per cent, and in that
connection calls attention to the fact
that the Indebtedness of the company
to the agents on December 81, 1910, |
to $723,352.57, and that they
had bills payable on that date of $751; I
boo, making a total Indebtedness of
$79S,35257. The Indebtedness as of
December 81, 1912, amounted to $751;
251.99, including s150,000 charged By
the agents to the plantation in open
account, which amount was used in \
taking up the bonds of the Kauai i
Electric Co., for which the McBryde (
Sugar Co. was responsible and on !,
which it had to pay interest. There +
fore the MeBryde Sugar Co. has re-
duced it's Indebtedness little over
$4,000 during the last two years.
This reduction of indebtedness.,
says Mr.. Watefhouse, together with 4
a saving of $4,000 per annum in bond
means saving to the Nc II
Bryde Sugar Co. of over SIS 900 per
annum, even should the dividend on II
100000 preferred stock at per cent
be considered as an interest charge,
as against the usual charge of 6 per
cent on said amount.
Assets are placed at $6,107,559. 60,
Of which $413, 1887 is credited TO
profit and loss account. Capital stock Ii
amounts to 1898, 421.69 of which the
stock is $3,450,080 less $780,
1881 treasury stock, making S3,31g,-
i21 so net, and 100000 preferred stock
As already stated the bonded debt is
s2,000.000 and the debt to Alexander
E Baldwin, Ltd, agents, 1852, 25199
Earnings for 1912 were s954,255.9S,
If which $930,513 was from sugar.
Deducting 1911 ,64617 cost of crop and
he net earnings for the year amount
% $42,609.S1 Out of this came S42,-
100 dividend on preferred stock, II
which left $609.S1 to be carried for
ward to profit and loss account.
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