The Hawaiian gazette. [volume] (Honolulu [Oahu, Hawaii]) 1865-1918, 1915-03-05
MCBRYDE Will PAY !.
DIVIDENDS IN 1915.
Condition OF Plantation Ma
teriaIB Changed by Rising
Prices for Product

At the annual meeting Of McBryde
Sugar Co. Monday, March !, J. Pr
Cooke president Of the company, said
that IL present conditions continue,
dividends will be paid before the end
Of the year. Whether this prediction
will be realized win depend on theSdi-
reCtors, he said, hut unless there is
complete change in the situation this
result will undoubtedly be brought
about
Mr.. Cooke announced an increase of
800 tons in the estimate for 1915,
based on sugar grounl to February %.
Banner Crop Of 1915
According to the treasurer report
the total outturn of 1914 crop amount.
ed to 1890 tons Of which l5,TOl tons
was ground from cane grown by the
company and 600 tons from cane pur.
chased. Total net realizations from
foreign and local sales and for esti.
mated balance on hand but unsold
were 81 ,O6l ,342.79. ~
Sundry profits from rents, merehan-
disc, discounts, dividends from sub
sidiary companies and other sources
brought the earnings up to $l.109,-
703.76. The crop cost was 1907. 059.75,
leaving a credit balance Of R242, 644.01
to be transferred to profit and loss.
The credit balance carried forward on
profit and loss, account January /,
1915, was $lo7, 23s.57.
Trep.=rer's Statement
John Waterhouse, treasurer of the
company submitted the following H.
nancial statements:
reduction in capital stock, In ac-
cordance with resolution unanimously
passed by the stockhOllers on NOvein-
Der IL, 1914. the par value Of the
common stock of the company was re-
| duced from $50 per share to $l6 per
share. New certificates were issued
showing this reduction in capital on
December %, 1914. =. .-'.sg'
| tin connection with, the reduction
of par value in capital stock, entries
were made on the McBryde Sugar Go.
books wiping ont $3sS,569.77 debit Of
| installation account; and changing the
debit Of 1907 ,405.sT IN profit and loss
account to a credit balance of $685.
i 7S2.02. .n... Is.
eat the present the authorized capt
tai is $3,800,00O, consisting OIL 175,O00
shares Of common stock, par value Sl6
per share, and $4,000 shares of pre-
ferred stock Of the par value of 500.
! profits: The profits for 1914
amounted 10 $242,644.0l. Your direc-
tors were therefore able to pay TO the
trustees of your bond issue $s3 ,9l3.77,
balance due on account of 1914 sink.
ing fund, all as called for by the trust
deed. All but $32.25 Of this sinking
fund has been used by the trustee in
purchasing McBryde s per cent bonds,
the amount outstanding on December
81, 1914, being 81, 1893 par value.
| 81 would also remind you that the
promissory note for $l429T2.96 dated
January 2, 1914, from the Mel3ryde
Sugar Company to Alexander & Bald
win, Ltd, was pail AMI cancelled on
November IL, 1914, in accordance with
resolution passed by the stockholders
on said date. .,
A Credit Balance
"on January !, 1914, the company
owed the agents $9O.954.26. On Janu.
arv l, 1915, the company had cash
balance with the agents of $l0S, 2S5.sl.
This is larger balance than was estir
mated. MtF
"This large balance is partly due to
the fact that the amount expended as
shown on the books for growing crops
on December 81, 1914, was a great
deal less than the amount shown for
growing crops on December 81, lylS,-
this notwithstanding the fact that the
comparative acreages and the estimat-
ed crops were about the same. The
following statement shows the differ
ence in the amounts carried forward
on the various crops:
Crnn of 1911 ., $5Il ,h96 81