Honolulu star-bulletin. [volume] (Honolulu [Oahu, Hawaii]) 1912-2010, 1913-06-07
SUGAR STOCK
MARKET Still
At Low POINT

Prices OF sugar stocks during the
the past week have not generally i'm
proved. and in some instances they
fell below the low water mark of the
former week. The dibatory action of
congress in settling the tariff bill, or
deciding upon the sugar feature of il,
has, of course, been one OF the potent
forces depressing the market, and II
will continue TO be until the senate
takes final action on the measure.
While the fight for the life of the
industry is going on in Washington,
the conditions on the plantations
seems to be on the improve. and II
this fact has not increa1ed the
quoted price Of the stocks, it has
probably prevented them from sub
siding to their bottom value. The
rain during the past week, which has
been general throughout the terri
tory, has been a large benefit to the
plantations. On Kauai, where II fell
especially hard, It was greatly
needed. = ne plantations on Oahu also
enjoyed heavy rains, where they were
In need
The trading in stocks was heavier,
by considerable, than during the
former week, which was filled with
dull days OF market inactivity. Es-
peciaily heavy was the trading on
Hawaiian Commercial, which was
beaten down at the close Of the ses-
sion Friday to 24S75k. On that day
almost five hundred shares were
turned over, opening at ESQ, and
closing at the low figure given
above.
Other companies followed this week
with announcements of suspended
dividends. The Waikiki gave notice
of suspension of dividends after
Jane 10. the Honomu after June 5,
and on Friday the Waialua issued its
notice OF suspension, to take effect
June Is. 1t was rumored that the
Pioneer would also give notice Of sus-
pension, but officials Of that COM
pany OFFSET the rumor by stating en-
phatically that II was confidently ex-
pected that the corporation Will be
able TO pay It's dividends regularly.
During the week there were 3I73
shares traded. bringing a total sum
of $56. 463.42 for the week ending
Friday. This is almost double the
amount Of business done during the
previous week, which aggregated, for
the same time. 32,412.50. 1t should.
az couse, be taken into consideration
that holiday broke up the business
of that period. Two weeks ago the
business trading amounted to $780,
717.O7.
A number Of bonds were sold. A
$4,000 deal in Waialua SIS was made
at 100, and two transactions Of Hilo
1901 IS Of $500 each were made at
"a.
Certainly the most business OF the
week fell on the trading Of Hawaiian
Commercial. no shares OF which
changed hands up to Friday. The
buying price was $3.50 Monday, but
most of the buying was done at 26.
A large amount of it thrown on the
market Friday finally reduced the
price to Is, and in the end to PASTA,
where 1t closed on that day.
The announcement that dividends
would be reduced probably is respon-
sible for the fall in price and the
amount of stock offered on the mar
ket.
Olaa. Oahu and McBryde sold in
fairly large numbers. One thousand
shares OF 0laa changed hands, clos
ing Friday at l.75. having opened the
week at l.S7lk. McBryde sold at ESQ
and ZIG, $50 shares changing hands.
Onomea opened at 21.50, but fell off
a half point in the few sales which
were made Of It. Pines fell slightly
under the pressure of the sale OF S34
shares. Monday it brought 40.25. then
1t rose quarter point, and edded by
selling at 40. Ninety-two shares OF
0. r. & L. were traded in. The first
sale was so at 120. the second AZ at
lis.
Ten Honokaa sold at 4; % Hon. b.
& M. Co. at 2O.50. and so IL. s., N.
Co. at 1.T5.