Honolulu star-bulletin. [volume] (Honolulu [Oahu, Hawaii]) 1912-2010, 1915-02-19
BIG STOCK ISSUE
IS FLOATED BY
bindings CO,
Hawaii Corporation Holding
Lands in Straits Settlement
Increases Capitalization
PL AN CT LEAN CUl.T .TIvATI0N
FOR c0c0ANUT LANDS
Phenomenal Results Expected
from Fields Planted Two
Years Ago

Announcement of q $500, 900 increase
in the capitalization Of the Selama,
Bindings Plantations. Ltd, was made
today by the directors Of the company.
The extra issue OF stock was voted
ct special meeting January 4. The
last OF Il was taken up this week.
The Selama bindings Co, which
owns valuable eocoannt and rubber
plantation land in the Straits Settle
ments, was organized and is controlled
here. It's original capitalization Of
$4O0, 900 was all raised IN Hawaii and
practically all the extra issue was TAX
en- up In the islands. The increased
capital Is. needed to maintain clean
cultivation of the cocoanut land. While
1T has been the practise In the past on
many plantations to allow grass TO
grow between the trees, It has been
found that cleaneweeding facilitates
the growth Of the trees. The extra
capital viii be used for this purpose.
The new issue was in 20, 900 shares
at par value, SO. Stockholders were
given the first 6pportunity to take up
the stock in proportion 10 their pre-,
sent holdings. - ~ = I =
The decistoh to float this stock was
reached at meeting or the directors.
JanGarx fatts were 11ids sbef0fe
the board by Dr. p g. Waterhouse Of
this city. one 0f the directors, who -
now making Ills headquarters on the
east coast 81 Sumatra and makes peril
odic visits to the Selama-D bindings
plantations. Dr. Waterhonse Il. return
ing to Shniatfa today leaving on the.
Ghiy0 Mart
The Selama.D bindings Company was
organized in 1911, II has two proper.
ties. a cocoanut plantation Of 6tS7
acres in the bindings, and a rubber
plantation at Selama, In the state Of
Perak. The cocoanut land is held IN
perpetuity under q direct title from the
British government The rubber PLAN
tation Of 1015 acres is held under q
s99-year grant from the Federated Ma
lay States. or the cocoanut land 2575I
acres are planted, while all the rubber
land is In cultivation.
Phenomenal results are expected
from the c0coanut plantation. Hall
the trees are now two years old and
the rest little over year old. Most
Of the older trees were Is feet high
at the age Of 1ss ponths. and are ex,
pected to give their first yield IN 1917.
In 1918 the company is expected to|
be ON dividend paying basis. The
first crop OF rubber Is expected in|
1916. -
The property is advantage0usly sit.|
uated fer transportation facilities.
Vessels can be loaded within the plan
tation and sent out to Penang and
without transhipment I'll
has the added advantage Of being on
lht direct trade route from the Orient
10 New Fork via European ports
The officers of the company ares r.
A. Cooke. president: John Waterhouse.
vice-president; n. H. Walker, sscre-I
Iary; Hawaiian Trust Company, treas
ureF and Honolulu agents These Of |
Ulcers. with the following, make up the
board Of directors F. c.. Atherton,
w. d. Baldwin, DR.. e. c. Waterhouse,
James d. Dole, A. s. Wilcox. H. NJ.
von Holt r. b. Anderson and John L. |
Fleming.
, ~