Honolulu star-bulletin. [volume] (Honolulu [Oahu, Hawaii]) 1912-2010, 1914-12-03
SAN CARLOS Co.
ALREADY GOOD
M0NEY.MAKER

San Carlos Milling Company. inCOr-
porated in Hawaii and operating in
the Philippine Islands. has issued its
first report, being from the date OF in
corporation. June s, 1912. to June 30.
1914. II shows prosperous conditions
notwithstanding many difficulties met
at the outset Manager P. J. Bells
report tells Of opposition to the in
stalling of a central by the company
which, though coming directly from
two planters, was undoubtedly origin
ated and financed in lloilo by commits
sion companiest also of a plague OF
army worms destroyed after a heroic
battle, of long droughts and OF floods.
and actual construction work was be-
gun in September.
The first crop was harvested in the
plantation, mills between January ana
June, 1913, and the next one between
JANUARY Is and May Is, 1914. Owing
to dryness in the early growing period
the l914-l5 crop is expected to be
light, although up to August l the
cane was looking exceedingly we'll and
growing very fast. There had been
no locusts or other insects to damage
the crop, though there had been great
damage from lOCustS in other sections
of the islands. MIR. Bell gives a state
ment of areas of land held by con-
tracted plantations and others, with
an estimate that the cane from all
will yield 10000 tons of sugar for
1915, of which the mills share will be
1900 tons. He recommends an extern
sion OF the railroad and an increase
OF the capacity of the mill. AS erect
ed the mill was intended to treat 600
tons Of cane each "a hours, but with
provision made to extend its capacity
to 1000 tons daily by installing addi-
tional units , The railroad is 15l2
miles long and its rolling stock COM
prises three Baldwin lotion locomo-
tiyes, 225 Gregg 5-ton cane cars and
four 2O-ton freight cars.
Treasurer NJ. P Robinson's report
shows assets of $1,200,4S1, of which
permanent improvements represent
$74S, 249, While the liabilities contain
balance at credit Of profit and loss
account of $192,S65. Besides capital
stock and bonds of 100000 each, the
chief liabilities consist of Honolulu
Iron Works Co. loan 100000, bills
payable $4,000 and bank overdraft
$3S,916 1t is stated in the main re-
port of the treasurer, however, that
SEE, 900 has been paid on the II. l. w.
Co. account, and that the bills pay
able and bank overdraft have been
paid in full. After making these pay
ments and allowing for operating Ell
penses to the end OF the year, it is
expected that the company will have
on hand a cash balance of not less
than $50, 000 It is explained that the
object Of carrying this balance instead
of paying off the remainder of the
debt to the Honolulu Ircn Works Co.
Is, first, so that the company may
be less dependent on it's credit for
harvesting the 1915 crop than it was
during the current year. and, second
ly, to meet the cost of the enlarge
nent Of the factory capacity from
600 to 1000 tons Of cane per day.
OF the total crop handled, 7843 tons
of sugar, 40 per cent, or 3137 tons
constituted the mills share, and the
total cost per ton Of sugar to the.
company was $40,149. Net receipts
for the 1914 crop are, stated in the
account as $31T,74S.94, but note says
that from later information it is be-
lieved $4,000 more WIN be realized.
Further the company has claims
against the steamship and insurance
companies for about $500. =