davidaulloa/AmericanStories huggingface dataset:
The Hawaiian gazette., 1914-01-23

II. p. Wood, secretary Of the Hawaii
Promotion Committee, stated to The
Advertiser yesterday that all steamers
coming this way are booked full from
now until the end Of March.
ssrhe tourist outlook could not be
better, I" he said.
During january February and March
1912 about 1850 tourists visited Ho-
noluln. This years passenger traffic
is showing substantial gain over a
year ago.
The Hawaiian gazette., 1914-01-23

. I.
q William Joseph Robinson. inventor
such is the new title which may be
Justly applied to Judge Robinson.
third judge of the first circuit Of the
Territory. He received Yesterday
from the patent Office, at Washington.
Patent No. 1,0S3,37 issued on January
. last which protects and covers the
invention by the nudge of combine
tion measuring instrument.
The invention relates to combination
tools, the principal function Of which
- the measurement Of angles. levels
and verticals. Ii has for the main
object the simplifeation Of such an IN.
strument, and the making of it more
convenient, rapid and accurate in use,
increasing the range Of application Of
the instrument to various kinds Of
work, or structures to be measured, iu-
Guiding structures to which II Is some
times difficult to apply this class Of in.
strument conveniently or with ae-
eurate result.
The agents who attended to securing
the patent have Informed Judge Rob.
lnson that his Invention is worth at
least $4,000 and, q tentative one, for
the purchase Of his patent rights has
already been made. The Judge is,
however, in no hurry to close a deal,
he says. ~. ~
~"While making some toy houses for
my children sometime ago | happened
to be using a level in some peculiar
manner when the idea, which resulted
in the perfected invention, occurred 10
me, = said Judge Robinson yesterday
III worked on the idea and before long
contrived to make model which
submitted later to the patent office To-
gether with plans and specifications. p
The Hawaiian gazette., 1914-01-23
THE cH1LDREN,s COLDS.

Watch the chlldrens colds and cure
them before they weaken the vitality.
Use Chamherlain's Cough Remedy free
ly. II is perfectly safe. II has teen
tested by chemists and pronounced free
from injurious Substances and costs but
n tribe For sale by all dealers, Benson
Smith & CO., agents for Hawaii
The Hawaiian gazette., 1914-01-23
STANDING ofer Fair.

"Conyinred Of the sincerity Of pur-
Pose Of your agents, your committee
has no suggestions to oifer as to what
should be done or promised by them for
the future. The statement Of their %.
sltion and what they are prepared 10
do, which statement was reid by them
at the meeting of stockholders held
December 10th, 1913, appears eminently
Just and fair, and it is recommended
that this effer be accepted BY the stock.
holders.n Z.
The Hawaiian gazette., 1914-01-23

sue. and S5,500.O0 on account Of ac-
rfned dividends, as against t31, 100000
that would have been available under
the old issue. At the end Of the thir.
i|cth year, the plantation would have
paid the preferred stockholders, under
the new system, in all some 4l00,0O0.0 90
in excess Of the amount that would
have been practicable under the old is.
sue, and would have retired $780,
10000 Of its bonds, as against but $780,
10000 under the old issue, and would
be free from the bonded debt In forty
feafs instead Of in some three hun
dfed years.
Advantages Manifest.
Irrespective Of what average profits
be taken, within comparatively few
years the advantage OF the new issue
! over the old Is so manifest that there
can be no question Of opinion, in so
iar o. the interest Of the common
slockholder II concerned, as to which
issue Is best for him, and the same APP
plies TO the preferred stockholder.
Whereas, in the first few years, under
the new system, he (the preferred
stockholder) NAV be little worse on
in actual dividends received, this Is
more than Offset by the value added to
the property by reducing its oblioa-
lions, and within such comparative
N short time be more than recovers in
0iVidends what hel first loses. that IL
appears TO be a ease Of projecting a
man against himself 49,
If on the other hand, there are 10
be no profits, then the plantation under
the new issue is t20.O0O.OO per annurn.
~ the amount saved IN interest. fur
Their from disaster than II would be nm
der The old conditions, aud Il must be
remembered that the e50.O0O.0O Der
rHVrr sinking fund. although Il Il
cumulative, Is to be derived from pro.
nI| and need not concern the stock
holder in years when there are no
COMMITTEES Opinions
In consideration OF ali Of the cir
tumatanees, and all Of the evidence.
fouf committee has been able TO Oh
tain. Il expresses the following opin.
ions upon the various points involved
in this refund issue OF bonds:
.'tlst In order to refund $4,000
V0p.oo issue Of bonds, II was necessary
N provide cumulative annual sinking
Innd q e50,o00Q0, for the reason that
even with this feature but $500. 900 .00
was placed upon the outside. Messrs,
1|exnndcr q Baldwin. Ltd. and their
Interests taking up $1,000 10000. I'M
donbtedlY Messrs Alexander 4 Bald
win. Ltd, would not have nnderwrit.
ten the issue without this feature. IL
"a also doubtful II the 5000 .0OO. zoo tax.
~ on the outside would have been
taken
End. Tn order 10 refund the 49,
0oo.OQQ00 bond issue, with the issue
Of 8 per cent bonds at par, Il was ne.
fe1fary to add to the security the
property Of the Kauai Electric Com
pany.
sfd. The present bond issue, with
The Hawaiian gazette., 1914-01-23
PILEs cuRED N ; DO q DAYS.

Z PAZU OINTMENT s guaranteed
20 cure any case Of Itching. Blind.
Bleeding or Protruding Piles in 8 to
i4days or money refunded. Made by
PARIS MEDICINE CO.. Saint Louis
Y. 3, Of A.
The Hawaiian gazette., 1914-01-23

SAN FRANCISCO January 10. -
George w Merrill, veteran Of the
Civil War, and United States Minister
to Hawaii during President Cleyeland's
first administration, died on Saturday
at his home, 2O6s Pine street, after an
illness Of seven weeks.
Mr. Merrill was born In Maine near.
ly seventy-seyen years ago. He served
through the Civil War and at the close
was captain in the Sixtieth Indiana
Infantry. He came to the West and
established himself as lawyer in Me-
vada more than thirty years ago. For
ten years he served as district attor-
ney Of Eureka county, Y
He was q member Of the Nevada Le-
gislatnre and Speaker Of the assembly
I'm 1S8haf RwosVHHrsl later heywas sent
TO Washington As Hand agent and at
torney fort the State. President Cleve-
land appointed him minister 10 Hawaii
in 1885, and he served in that post UNI
til 1889. 49,
Merrill was past commander Of
George II. Thomas Post, q. A. r., past
eoInmander Of the military order Of
the Loyal Legion, past commander Of
Pomona commandery, No. 81, Knights
Templar, member Of the thfrty-sec-
ond degree of the Scottish Rite, and
Of the Sons Of the Amerieepl Reyolu-
tion. a widow survives bin. ,.,a,...
The Hawaiian gazette., 1914-01-23
Agents Justified.

IT appears to your committee that
with an interest charge alone amount
ing to $500 for every ton Of sugar
produced during the crop Of 1910, an
amount which would mean dividend Of
approximately five per cent on the en-
tire capital stock Of the company upon
the crop Of 1912, were the plantation
free Of debt, that your agents were
fully justified in reducing this prohibit
tive charge by a Encouragement of the
finances Of the company, even il this
action did somewhat contract the bor-
rowing capacity of the property, rather
than adopt policy which would in
erease the annual obligations and bur
den the plantation and its subsidiary
companies with increased debt, in order
to provide reserve funds for contingent
cies which might arise In the future.
! ~ Assuming, however, that different
policy had been adopted, the Sugar Fac
tors stock and the Kauai Railway d Dck
was the only collateral which could,
with propriety, have been used, with
whiclifto borrow money, and this stock
i as available now for this purpose as
IL was then. The stock in the Kanai
Electric Company was a lien hnder the
old bond issue and could not, with
propriety, in the opinion Of your com
mittee, have been used as collateral.
The Hawaiian gazette., 1914-01-23

policies calcp'ated to alvarez tnelf own
interests, at the expense o. yours, g2pt
eommittee can opl{ att1ippr " ~
fact that the tpyfs, pispf N p{eteflf2
stock oy MT Kinney and ms associates
has rot proven pron,apie.
THE evidence submitted 70 your
comm tee and considered py' ~, % wei
as the investigations Or tne committee
ITSELF nct only FnaieaFes tnis nFn
fnliy rom any sinister aesigns un ,',l
the property nnt furnishes lnorpltapis
PROOF that while they nave Acted a.
your agents and IN view OF All tne CIR
cu,ns' anees, your Interests nave ne s.
fully protected In the terms 21 tneir
Original agency agreement, in the mat
The Hawaiian gazette., 1914-01-23

"That Messrs, Alexander Baldwin,
Lid. have been accused not with the
exercise Of poor JUDGMENT IN the sdmin-
istiation Of the financial affairs of your
company, attended BY consequent loss
eused with the systematic adoption Of
The Hawaiian gazette., 1914-01-23
Sugar Cut Unexpected.

Although the refund was not con-
snmmated until 1912, and although at
that time the situation had changed and
a cut in the tariff was generally look.
cd for, no such radical action as was
taken by the present United States con
gress was anticipated. Certainly your
agents anticipated no such action;
otherwise, it is safe TO assume that
they would not have subscribed for any
preferred stock, would not have under
written the refund issue Of bonds, and,
consequently, would not today, with
their connections, have upward Of 81
OO0000.O0 invested in the enterprise.
The Hawaiian gazette., 1914-01-23
The lAIternative.

What could have been done was to-
have left the original $2,OOO,0O0.O0 six
per cent bond issue undisturbed, and
The Hawaiian gazette., 1914-01-23
BUSINESS CARDS.

HONOLULU from WORKS COMA
,hinery Of every description made 10
ADM.
The Hawaiian gazette., 1914-01-23

Persia Is foreign trade for the last
fiscal year exceeded $s7,702, 1000. sl
The Hawaiian gazette., 1914-01-23
Reduce the Capital.

'G"If the opinion Of your committee Is
correct in the premises, then, In Justice
to the holders of the preferred stock.
this state Of affairs should be remedIed
as soon as practicable. The amount
subscribed for by them was all applied
In reducing the floating Indebtedness.
The losses sustained by the plantation
In capital had been sustained previous
70 their subscription for this stock,
and, therefore, should not be borne by
them Apparently the proper proceed
IRE upon the part Of the stockholders
and directors Of your company would
be TO reduce the capital, in so far as
common stock is concerned, In an
amount sufficient at least TO wipe out
the Installation Account and Profit and
Loss Account which being done the
plantation thereafter would be in "a
position TO pay dividend in any year
upon its preferred stock, aud also npon
It's common stock, If its net earnings
in that year warranted the same.
Harm Might Result,
The Hawaiian gazette., 1914-01-23
Borrowing Capacity.

t.It Is asserted by Mr. Kinney that
the financial policy adopted BY your
agents resulted in a contraction and
closing of from the McBryde Sugar
Company, Limited, and its collateral
companies, Of its and their power,
means and opportunity Of borrowing
money at the time said companies were
facing grave financial difficulties. tn
this connection, it will be remembered
that the refund proposition was con-
summated in 1912. The year 1911 was
the most prosperous year ever expert
enced by the plantation. The profits
on the crop Of that year amounted to
$lSl 10000, after having paid an inter-
est charge upon the crop of approx
imately $122,O0000, from which 1t is
evident that had the plantation been
free Of debt the profits ON this crop
would have Appropriated 1888, 100000. It
appears, therefore, that this policy was
decided upon at time when there was
reasonable assurance that the worst of
the financial difficulties Of the planta-
tion was over, and this view is support
ed by Mr. Kinney's own view of the
situation, as expressed in his letters to
Mr.. Baldwin when proposing the issue
of preferred stock, when he intimated
that he considered the investors in this
stock would take but a reasonable bust
ness risk.
The Hawaiian gazette., 1914-01-23

a TOXIC, January 81. ~ (By Special
Gable TO The Nippu Jill Advices no.
ceiyed here today from Sakurashima
ssate that the volcanic eruption at
Kaeoshima has subsidized to q certain
extent. Y is now thought that the vol
'canie disturbance Is over. 1t is inn
possible TO estimate the amount Of dam.
age the eruption has caused but II is
conseryatiyely figured that II will reach
many million dollars, neither can fig-
ures be obtained as 10 the loss Of life.
Relief work Is IN progress.
The Hawaiian gazette., 1914-01-23

Harm Might Result,
i'It is needless 70 add that with the
The Hawaiian gazette., 1914-01-23

accounts In their present state divi.
dend npon common stock win at an
times be unwarrnntcd Further than
this, your committee sees no advantage
in keeping the capital Of the company.
represented BY common stock. less
stock in the treasury unsold, at $3.50
421.0o, when at least $3.50 10000 Of this
capital Is represented by Profit and
Loss Account While this cannot ben,
eft the stakeholder, Il might result In
n great deal Of harm. The public IN
this Territory has some abpfoti alton
Of the value Of the stock as market
quotations Of the stock from time TO
time have Indicated, and thereby IL is
presumed realizes that much Of the
original capital has been dissipated.
This, however, might not be the case
with an investor from Maine OF Mass.
achusetts, who might take IL for
yranted that the whole canital. as
originally subscribed, was still repre-.
sented by actual assets Of the company,
and that the depreciation In stock
values had been Influenced entirely by
tariff legislation and the low prices
now prevailing for sugar.
such q person investing In stock Of
your company, and thereafter discover.
ing that at the time Of his investment
the so-called assets were composed Of
one or more accounts representing no
value, would have verv serious com
plant TO file against the company.
Again, il appears to your committee
that assets represented by such ae-
counts might possibly reflect upon the
sugar Industry Of the Territory. If,
therefore, there are any other accounts
represented in these assets which show
fictitious values, Il is strongly recon-
mended that the capital stock (eom-
mon) Of the company be reduced ~
sufficient quantity to Offset the sane,
so that thereafter these accounts may
Withstand the scrutiny Of the most
critical.
Sharp County record., 1914-02-27
Cave City

Ed Sharp completed his school at
Cedar Hill Friday,
W, A. Bonham of Scott township
was a visitor in Cave City Monday
Strikes us that we've lately
heard a few complaints about bad
roads.
Claude Felts returned home Sat-
urday, lie closed a school at Cot
ton Hill Friday
G. W, Aldridge, candidate for clerk
spent Saturday and Sunday with
his family here
We are having some cold wealth
er at Cave City, Hope you are en-
joyine the same
The bride bit men have caught
all the suckers they can, and given
the others the dodge
A. D. Sauls and wife of Pough.
keepsie are the guests of Mr., and
Mrs. w. +, Stanhll this week,
Rev, W, S, Story Of Charlotte
was in town Monday and Tuesday
and had some good horses he was
offering for sale,
j, !, Jones, our postmaster, has
purchased team and Is making
preparations to farm this year, ol
rather to have 1t done,
The smallpox scare Is all over
But when 1t Is not one thing II Is
another Some parties, living about
four miles east OF town, have
measles,
John Mitchell was at pouehkeep
sic Saturday, and while there &C.
cured the Oak Dale school for the
summer, That district will have q
good school, for John Is the kind
Sharp County record., 1914-02-27
COrirltI1

S. A. Kelley's school closed here
Friday with fine entertainment at
night.
Ed Birchfeld has been confined
to his bed for some days with la
grippe.
Pleasant Rogers of Ash Flat has
been visiting with friends here for
some time.
Cornelius Holt and family of near
Sitka visited Mr.. Hollis father,
E, W, Holt, Sunday.
Rev. Swift Anderson, the Method
ist pastor, preached an interesting
sermon here Sunday.
Mrs. W, G. King Of Highland
spent Saturday and Sunday with
Mr., and Mrs, A, F. Rogers.
Uncle Oliver" Rogers has been
dangerously i'll for some time, and
is not expected to recover,
Mr.. and Mrs. W. M. Lane of Lib
erty Hill visited Mr., and Mrs. W. D.
Rogers Saturday and Sunday.
Mrs. P. H. Holt visited her par
ents, Mr.. and Mrs. J. T. Spurlock
of King Mills a few days last week.
Mr.. and Mrs. W. r. Wiles, who
left for Bonneville two weeks ago,
where Mrs, Wiles was to have been
treated for consumption, have re-
turned home.
The residence of Will johnson
near King Mills, which burned last
week, is supposed to have caught
from the chimney Very little was
saved from the building,
Sharp County record., 1914-02-27
Reeds Creek

Some real winter weather first of
the week.
W. A, Street of Grange was here
on business Monday.
Esq, j. W, McLeod's court was in
session one day last week.
Jessie Hensley of Wild Cat Cor
ner was in our burg Sunday.
S. E, Townsley and M, C. johnson
had business at Cave City Monday.
Jasper Mcleod is a candidate for
reelection as constable of Cave
township
C. A. Dawson Of Mobley was look
ing after some business here one
day this week.
The smallpox patients are Getting
along very well, No new cases
since last week.
Joe johnson and wife visited
Joe's parents, Mr.. and Mrs. j. W.
johnson, at Sidney Saturday,
The candidates have all gone up
Salt Creek we suppose. Anyhow
they have quit brotherine us,
T. M, Stephenson had business at
Cave City Saturday. This was the
first time Tommie had been away
from home in about thirty days, as
he had been exposed to the small
pox
Sharp County record., 1914-02-27

A nne girl was born last week t
Mr.. and Mrs. Joe Edgar.
Miss Della Croft closed a sue
cessful term of school at Pine
Springs Friday.
Elmer Westmoreland and wife
are the happy parents of son
born Monday night.
An entertainment was given the
young people Saturday night by
Mr. and Mrs Noel Cole.
Rev. Alva Wiles and his two
sons, Sidney and Owen, who live at
Zion, were here Saturday.
A. A. Arm has his new residence
near completion, and will soon
move to the new building.
Prof. A. W. Hallmark and wife
visited relatives and friends at
Cave City Saturday and Sunday.
Miss Hoppe Claxton, who has
been teaching at St. Paul, closed
her school Friday with a program.
Mrs. j. A. Westmoreland has
been quite sick for the past week
with pneumonia, but is improving
now.
A box supper was given at Euto-
pia church Saturday night, the pro-
ceeds from which will be used in
buying new seats for the building.
Willie Claxton returned Monday
to his home at Wellington, Texas,
after visit of about two weeks
WIN relatives ana friends IN this
section.
The bank building at this place
caught fire Wednesday night of last
week from a box of ashes, causing
considerable excitement, but doing
no great damage.
Prof. C. M. Grisham's school at
Brickle Springs rendered a nice pro-
gram Friday evening in celebration
of Washington's birthday, which
was attended by Misses Edna Ball,
TRUE Ham, Edythe Johnston, Venia
Kirtley and Hubert Westmoreland
of the Sidney school.
Sharp County record., 1914-02-27
CaIa,,litle

Measles are getting close to Gala
mine,
Prayer meeting is held here every
Sunday evening,
Robert Tompkins of Jacksonville
was here Saturday,
The new Nazarene church is
nearing completion,
A good many drummers are com
ing to town these days,
Lee Street sent rooster to Even
Ing Shade by parcels post last week
We are always glad to Oct the
Record and read its newsy columns
j, NJ Street, candidate for the
legislature, went to Jacksonville Sat-
urday,
Miss Samantha Doss of Nelson
vile was a visitor at Calamine Sat-
urday
NJ, f. Butler has been in the
Northern District for several days
In the interest Of his candidacy for
assessor
Misses Telia and Jennie Nelson
went to Nelsonvile a few days ago
to see their grandmother, Mrs, N, j.
Nelson, who Is 86 years old, but
who Is yet stout and hale,
The roads are very bad, We
hope that when Roe Street gets to
Little Rock next January the first
thing he does will be to change the
method of road working, We would
take anything for a change,
W, K Nelson went to Batesville
Tuesday on trading expedition,
We notice In last weeks Reed letter
to the Record that BIZ would prob.
ably move to that place and 90 into
business, Bill has good thing
here, and We couldn't let him leave,
Sharp County record., 1914-02-27
Reed
Reed
Jean Heath of Truman was he
on business last week.

Jean Heath Of Truman was here
on business last week.
W. H. Kelley is having new
residence erected on his farm,
Master Ewin Mcknight has been
sick, but is better at present.
Rev. P. H. Sullivan of Grange
filled his regular appointment at
Marvin Sunday,
Miss Ida Wallis Of Jesup closed a
successful term of school at Marvin
Friday,
W. c. Creager, head sawyer at
the Nicely mill, visited his family at
Williford Saturday and Sunday.
J. H. Miller and family of Mel
sonVille visited the family Of r, B,
Mcknight Saturday and Sunday,
]. G. Sparks and family have
been visiting Mrs. Sparks sister,
Mrs. Geo. Tindel of Koshkonong,
NO., the past week,
W. H, SPOTS, candidate for clerk,
Of whose illness we made mention
last week, has been confined to his
room most Of the time since, suf-
fering from an attack of la grippe,
We hope he may soon be able to
join the other boys in the race We
call him the winner" down here,
We have three or four candidates
for road overseer In this township,
and from the condition of the roads
Il looks like we need them at work
now, What we think we need
most Is to elect some one who Is
not after the townships money
only, but who has some interest In
good roads, and who is not afraid
to buy some badly needed tools for
the hands to work with, We have
q good many miles Of road to keep
up In this township, and the only
tools wa have that are not worn
out are a grader and a plow, And
there are not over five miles ol
road that they can be used on suc'
cessfully,
Sharp County record., 1914-02-27
VEbifE0 OU11UnIO
ALASKA MEASURE

Washington, Feb. 20.-CongresS-
man W. A. Oldfeld of Arkansas was
the only member of the Arkansas
congressional delegation who voted
for the passage of the Alaskan rail-
road bill, appropriating $36,OOO,OOO
for the building of a government
railroad to the frozen Alaska coun-
try. The house passed the measure
Wednesday night. The opponents
to the Alaska bill charge that the
$36,OOO,OOO appropriation is only a
starter" They say that before the
road is completed it will require
more funds than the building Of
the Panama canal.
1t is being noised about the cap
itol that the $25,0O0,000 appropria-
ton voted by the house to be ap-
portioned among the various states
for the building of good roads will
be killed by the senate. This is
part of a plan to cut down the
spending of money from the federal
treasury that the Alaskan measure
may 90 through, and now that
Congress has appropriated $36,OOO,-
900 for the building of a govern.
ment railroad in that territory and
promised to cut out an item of Is
cents per capita for the people of
the United States for the building
Of better roads, a howl is going up
from the supporters of the good
roads bill.
AS a result of the governments
taking hand in the building Of an
Alaskan railroad, the oil operators
of Oklahoma are demanding that
the government expend ten or
twelve million dollars to be used in
the building of an oil l-pipe line from
Oklahoma to the Gulf of Mexico.
Farmers in the northwest are pre-
pairing to ask the government to
build grain elevators in that section
of the country. Southern planters
are demanding that the government
build cotton warehouses, and so on.
Southern congressman who voted
against the Alaskan railroad propo-
sition did so largely because they
thought that if the government was
going into the development busi-
ness that appropriations should be
made for the reclamation of swamp
lands in the South, the building Of
roads, and the improvement Of riv-
ers for navigation.