The Hawaiian gazette. [volume] (Honolulu [Oahu, Hawaii]) 1865-1918, 1915-07-09
H|DALGO MIDDLE
NEARING SOLUTION
StackabIe Reports Plain Sailing
Ahead if Shareholders Will
Contribute Coin


f. r. Stackable, president and man.
ager Of La Zacualpa Hidalgo Rubber
Company. has issued an appeal to
holders of acre certificates TO nav np
the assessment of Eve dollars per share
in order that the reorganization may
be fully completed. Mexican ex-
change is about ten cents gold per
peso. Hence il funds are paid in now
the Mexican bank indebtedness against
/ the properties can be Inundated at a
discount Of eighty per cent.
New Mexican Company
A Mexican holding CORPORATION has
got to be formed because the pIanta.
! lions are within the prescribed area
in which foreigners are not permitted
to own land, being less than twenty
leagues from an International boun.
Diary. Such n holding company is be-
ing formed. Whenever political con-
! ditions become stable the Mexican
company will he completed, the Cali.
fornia directors will transfer their
holdings to the new concern and Ger.
tifcate holders will receive their pro
rata of stock.
Mr.. Stackable saws;
"It is the opinion OF our cou~sel,
Messrs. McCutcheon, Olney 4 vii.
lard, that by amending our articles Of
INCORPORATION. which can he quickly
done, so as to provide for the issuance
of the stock of this company before
title of record in Mexico in said prop.
critics is vested in this company.
which amendment we propose to effect
at once. we NAV lawfully issue the
stock of this compapy as provided in
Joint reorganization committee reso.
luton of july 81. 1914.
at is the oUinion of our directors
that, once stock of this company is is
sued, the company will be in n position
to avail of any favorable rate of ex.
change with Mexico and finance the
liquidation of the Hipotecario mort.
yage, if at all possible so TO 40. under
the most advantageous conditions.
1--WE are in possession of and are nd.
ministering the following areas; , ~
'La Zacualpa Rubber Plantation
Company, 1890 acres: planted 10 rub
Der, 5000 acres; not planted, $3.50.
ala Zacualpa Plantation Company.
$3.50 acres; planted to rubber, 5000
acres; not planted, 2sO acres.
"Hidalgo Plantation and CONNER.
cial Company. 65l5 acres; planted to
rubber, $500; not planted, 30l5. IT
Title to all of the land planted and
not planted, as above, will be vested in
the new Mexican company owned by
this company, through Mr.. Ward, As
soon as possible.
"Your acreage certificates represent
an acre Of land and entitled you to the
production thereof from the old com
panies. The shares of stock in this
company you will receive in exchange
for acreage certificates and all rights
you may have Hereunder will vest in
YOU an equity to all the properties that
will belong to this company in the pro-
norton that the sum of the shares
issued to you bears to the total num-
Der Of shares issued.
A New Deal
"As nearly as we can ascertain, the
number of acreage certificates issued
totals l9,l3O, and the number of acres
planted totals 1880. OF course, there
should be planted acre for every
acreage certificate issued; however,
this is the situation as we find it.
Stock must be issued, as provided in
said joint reorganization committee
resolution, in exchange for acreage Ger.
tifcates. The stock of this company
not issued in exchange for acreage Ger,
ti6cates will constitute treasury stock
and covers the implanted areas, build
ings, etc.
"In what we trust will be accepted
rs final adjustment of all rights the
acreage certificate holders had against
the old companies on account of inter.
est, interest coupons, convertible notes,