The Hawaiian gazette. [volume] (Honolulu [Oahu, Hawaii]) 1865-1918, 1914-04-24
LOCAL PEOPLE.
NAY LOSE
100000
Report Submitted to 21o Hawaii
Shareholders Of IIidalgo Plan
tation 4 Commercial Company
Shows peplorable State Of At
fairs, With Apparently Little
Hope For Saving Anything
From Wreck.
(From Tuesdar Adyertlser.


Two hundred and ten Hawaiian share
holders in Hidalgo contributed $S4o, 200
for acreaee-shares, and out Of this $215,-
600 was paid Brainerd Smith in com
missions for placing the stock. The
company was Investigated by The Ad.
vertiser back in 1906, when the stock.
selling campaign was in full blast.
While il was at that time believed that
the company was not legitimate en-
terprise, San Francisco attorneys to
whom the investigation was referred
reported that the promoters were act.
ing within the law. II the affairs OF
the company had been more thoroughly
exposed eight years ago, Hawaiian in
vestors would now be nearly a million
dollars richer in pocket.
At the shareholders meeting yester.
day a committee was appointed to de-
termine whether anything can be done
to save any part Of this investment and
find out the legal status Of the Hidalgo
shareholders in Mexico. C. G.. Heiser
Jr. said that IL 100000 were put M
TO take up a blanket mortgage covering
se pioP sa Wnich mortgage
a.rss June ev, sometmng might be
nerc mieht aiso De other ways
~ Ss 'Vn"esh'ns' ny Dond issues or
pp
~ - ~ is seg salu mat 1t was
~ gone ana sneie was no use sending
sVou Anonvy 1.sr paI' Vthers were not
I;.41s ~ sn wan'eu 'ne situation proped
100 u.eePoi'
lhvestieation Committee Reports.
The committee Of investigation.
formed at the time the shareholders 81
the Hidalgo Plantation and Commercial
Company decided to send Charles d.
Heiser Jr. TO Mexico to investigate tho
company's affairs, reported as follows:
province Of the committee Of sbarebo,d
y e1sewith which Mrs. Heiser was 10 con,
suit to make any comments on the re,
suit Of Mr.. Hoiser,s investigations as
outlined in his report, but the following
conclusions arrived at by the commit
tee may be helpful to the shareholders
present in deciding what action thew
wish to take. g
First-It would appear to the com
mittee that to work out a scheme Of
reorganization win necessitate eopsid.
cradle expenditure, as there are many
parties interested who would have 10
pc consulted, frstclass legal counsel
would require to be obtained, and 4
WOULD appear that some qualified per.
snd rona,'I. ~ 1sqlIrep p VISIT Mexico
secured erad,ter. .h. Iaar.is9h ana t1e
also ia IoaE M a.a. anu possiniy
IN thst an,at v ~, ~ isgai matters
deal mar, v,a,,id az enu Broat
done before = go IsloiLe 20 pe
reorganization .o,,i5 ~ -, s,ne'ae OF
miles, the .bs,eSai5a ~ moineu oul, put
90 IA the arnansa 80 X ~ Plepa,ed "
made To reoreayi n .to.a an attempt
much hone oT sas;a $3.50 aVes not seem
invested """s shey nave
3 ssSecond --p,o,,;d.a a.
are disnosed ~ IN, ny snarenoiaers
purposa az ,at,aIr,nt, noney Ior the
plan ~ reorganiIa,ias ~ woIk OUT
pared whom .,,ch rIo o they pre-
ca n NM IN . ia.,ia i I',. nrs oeeil FORM
how LARGO n u s;,,nosa;i,ia nonpy -
presant INT ~ ,,,o,,I,g ~ 70 say az
re1tiy,ei 70 vassI bnsd.sI q. ~ - y would |
lars ~ ear,y ~ ra,,sh shoIsahd doi-
NAV he fcrrad any pan "hleh |
y q Considerat;on 20 .ho.. ~.
NAV Assist ! sharabalia y; wv points
his mind a. % ,.,hathas - nuahInH up
10 narticipste 4, ah PieParea
zatiop or M ~ z - ieofs''il'
l7 pn,n...,.,.
Il - A .,sl
mr. aeiser report, which was read
70 tne snarenoiqers yesterday afternoon,
. IN many respects remarkable docu'
lnent; iecites ~ great detail the
s !. sihnosities OF what appears
sos po one 81 the greatest Him fam
sa'noS ever WORKED on Hawaiian invest,
DTS AS Drought out by John Fleming
~, ~ sne ulsyusslon which followed the
ts.h pg 81 tpe report, the Hidalgo
.,.Ii simply certihcates en-
s ,neH noiders 10 share IN future
ba Gs maae. inc Hawaiian share