Honolulu star-bulletin. [volume] (Honolulu [Oahu, Hawaii]) 1912-2010, 1915-03-01
MBRYDE HAS
BANNER YEAR,
PROFIT $4,000
Bio Note to Alexander & Bald
win Paid and Bonds Taken
Up in 1914

Both In size OF crop and profits
realized, 1914 was a banner year Tor
the McBryde Sugar Company LTD.
The crop was II, $40 tons. or 5.61 IONS
per acre, setting new marks for the
plantation. Profits amounted to 49,
GA, out of which the s142,972.96 prom
issory note to Alexander & Baldwin,
dated January 2, 1914 was paid up
and outstanding bonds taken up.
President ]. p. Cooke made the pre-
diction that unless there was change
In conditions dividends would be paid
this year
"0n the question of dividends, which
/ suppose you are all interested p,
he said, 81 don't know any more than
you do. It Is all up to the directors
i don't see how we can help paying
dividends this year, though, unless
there is complete change OF sitpa-
ton
Mr.. Cooke also said he had received
a message saying that 1000 tons OF
sugar had been ground and bagged up
to the end of February. On this basis
the crop will run 500 tons above the
managers estimate.
An item emphasized by John Water
house, treasurer, is the saving being
made in the cost of production. TINS
has been steadily reduced and will be-
cut still further for the 1915 and 1916
crops The profit per ton for the 1914
crop was $3.50.
The financial operations of the year
are thus summarized by Mr.. Water
house:
.Reduction IN capital stock: IN.
accordance with resolution unani-
mously passed by the stockholders On
November II, 1914, the par value Of
the common stock of the company Was
reduced from $50 per share to SIG per
share. New certificates were issued
showing this reduction In capital On
December %, 1914.
I'm connection with the reduction
OF par value ia capital stock, entries
were made on the McBryde Sugar co.
books wiping out $33S,569.77 debit Of
installation account. and changing the
debit Of 1907, 405.S7 in profit and loss
account to credit balance Of $23-
7S2.02.
Capital is s3,aoo, 900.
AT the present the authorized capi
tai is IS, 100000 consisting Of 175. 900
shares OF common stock, par value SIG
per share, and $4,000 shares 81 pre-
ferred stock of the par value Of $40.
Profits: The profits for 1914
azn0nnted TO $242,644.O1s Your direc-
tors were therefore able to pay to the
Of your bond issue $23,913.77,,II
balance due on account of 1914 sink
Ing fund, all as called Tor by the trust
deed All but 1925 Of this sinking
Eund has been used by the trustee in
McBryde S per cent bonds,
.he amount outstanding on December
81. 1914 being 1885, 800 par value.
I would also remind you that the
DrOmissory note for $142.972.96 dated /
January 2, 1914, from the McBrydeI
Sugar company to Alexander e Bald
win, Ltd. was paid and cancelled onI
November II, 1914. in accordance with
'esolution passed BY the stockholders
n said date.
Preferred stock dividends have
llso been paid tor the years 1913 and
E9i4.
e0n January 1st 1914, the company
wed the agents $90.954.26. On Janu-
Iry LIST, 1916. the company had cash
'alance with the agents Of sos, 2S5.S1.
his is larger balance than was esti-
mated
This large balance Is partly due to
he fact that the amount expended as
hown on the books for growing crops
q December 81. 1914 was great
cal less than the amount shown for
crops on December 81. 1913.
his notwithstanding the fact that the
acreages and the estimat-
d crops were about the same. The
blowing statement shows the differ- L
nee in the amounts carried forward
d the various crops: