Honolulu star-bulletin. [volume] (Honolulu [Oahu, Hawaii]) 1912-2010, 1914-06-16
.H|DALGO MEETING
AGREES TO SEND
MAN TO COAST
Unanimous of Opinion That Il
Is Only Way to Save
Property

certain the status OF affairs. CaDHng
a report thereon, be left with the in
vestigating committee, and a vote OF
thanks to A. w T. Bottomley OF
Bishop & Co. and NJ. NJ Graham of
the Hawaii Audit Co for services rem.
! dered, the meeting of Hidalgo share
! holders yesterday afternoon adjourned
after a general discussion lasting an
hour and half
One of the cablegrams to Manager
! Harrison from the committee inform.
ed him that he would be held respon.
sible for the properties
A message from Brainerd Smith
asked that the shareholders send a
| representative to San Francisco, he
agreeing to pay his expenses to the
amount Of $500 and stating his pref
erence for c. G.. Heiser, Jr.
Harry WoOtten. referring to the
backwardness of the larger sharehold-
said If they would not do anything he
for one would try to get in touch with
Harrison and Brainerd Smith, and in
form them that If there was going tn
be reorganization he and other small
shareholders wished to get in
John Hind was in favor Of the sug-
gestion by Attorney Holmes to send
man to San Francisco pledging $50
a share for himself toward adjusting
the difficulties.
l.. c. Ables said that, with all due
| respect to Mr. Holmes as a lawyer,
he believed he knew nothing about the
| matter so far as the laws of Mexico
were concerned. MIR. Heiser's Yeport
was only too elaborate and he dtI1bted
If it was worth while spending ,aoney
to print it, as it's statements were
largely hearsay evidence. "Thf most
you can get in Mexico now is it'll a
gun he remarked The onlyI thing
he saw was to do business wiz the
men that held the mortgages.
H. F. Wichman said in part To
day we have absolutely nothing The
first thing is to save the coffee mort
CAGES. Therae Is $4,000 due on the
coffee properties alone. You have a
good plan there. a perfect plan, but
we must put up the money We must
back Mr. Holmes up with $4,000 or
100000. For any sum between those
figures Hidalgo will fall into line so
qutckl1 it will make your heads
swim.
A. ingalls, remarked that if any,
thing Muld be done to get out of the
Mole 43y should do it. He quoted
He1ser report estimating that with
the prd Fnt capitalization the proper
ties wd ID yield II per cent in 1920
oan /
would Ike his stock return or 8 per
cent in 92O. They ought to send a
man on 18th as much money as they
could 81 him. III we can't save the
whole ng, Jet us save as much as
We can. he concluded
NobC knows as we'll as l." Mr.
lsenberg replied. "how hard It is to
get 81 haTe. argued to the large
sharehol erss that they ought to help
the poor shareholders. but 1t was no
use: I'd about $50 a share-you
cant geF it Not one cent more
George Hcox said and he has $780,
600 or S 5000 in it. It is very nice
for peopI,I who have five or six shares
to say IL Rv will put up $50"
MIR. Miehman explained that he
would not pay one cent more to Harri-
son. but would deal with the people
who held the mortgages.
Mr.. 1senberg said that if Mr.. Holmes
went and cabled back that there was
chance Of doing anything, there
would be some hope of the larger
shareholders coming through.
Mr.. Holmes, in answer to Mr. Ables
iph ha
the other two plantations coming
Though for IS per cent from Hildalgo.
but it was likely they would want
more. There was $18O,0OO due on
mortgage of 100000. If they would
not take that percentage, perhaps
someone else would. If there is va
lue there, | do not see why 80 per
cent could not be saved. 1t will al
ways be open to the Zacualpa people
to buy back their lands"
Endorse the whole bunch of shares
to some one person over there" sug-
gested Mr. AbleS Get all the share
holders in the islands to pool their
issues. Let Brainerd Smith spend
that $500 anyway" U-aughter).
Mr.. Holmes, answering Mr.. Isen-
he could so.
Chairman Ewart suggested the TAX
ing of Mr.. Isenberg's advice that Mr..
Holmes go and telegraph back the
chances of doing something
If our stock is no good as it
stands" observed Mr.. Ingalls,. we
may as we'll endorse it over to a man
we can trust and let him do what he
can"
Mr.. Macaulay, a member of the
committee. said it would take SAP
share on $500 shares to meet the in
terest demands on the coffee prop
critics.
THE raising Of the money takes
time, said Mr.. HIND and that fact
should be incorporated in the plan"
K {. Stackable, another committee
man. said: IF our ShaIcs were worth
$l"O cacll' when ", bought them SIX
years ago, this property ought to rep
resent much more value now, or else
.,s<.<s-