Honolulu star-bulletin. [volume] (Honolulu [Oahu, Hawaii]) 1912-2010, 1915-12-04
BUSINESS AND COMMERCE


clared ii TO be the policy of the ad-
ministration to leave the remnant OF
the tariff on sugar there occurred a
situation that not even the greater
earnings from war conditions had
brought about. The public, the IL
weston, the man whose PRACTICAL judg-
ment about the placing of his own dol
lars was involved, Immediately came
10 the conclusion that the sugar bust
ness was again good thing to be in,
and property in sugar companies, long
deprecated, came into its own again.
Michigan Sugar Company stock.
which had dropped from lis to Is be-
cause Of adverse tariff legislation,
went up to 50 on Tuesday of this
week, and may go higher, for all We
know.
Here is most practical example of
what assurances concerning the con-
trivance of only partial protection can
do to affect the value of one class of
property in this state. 1t is an i'm
portant object lesson which will not,
we trust, be lost on the administra-
ton. Even before the law is modi-
fled the investing public has enough
faith in the ability of the administra-
ton to keep its word good, that it dis
counts the future and seeks once more
to invest in an industry that has been
relieved of threatened danger That
was the only influence at work. The
companies were making just as much
money as under the earlier protective
esf nd hnSr Inc n ~ rfc
Only when 1t became certain that par
tial protection would continue did the
final arbiter, the purchaser for money,
show his faith in the future.
While the war may have been the
handspring of the new prosperity,
either through our receipt of large
war orders or by supplanting preoccu-
pied Europeans in neutral markets, ii
would be foolish to disregard the slim
ulating influence of record or next-to-
record crops at excellent prices. Rec
ord yields of wheat, oats, barley, rye,
sweet potatoes, rice, hay and beet
sugar, next-to-record crops Of corn, ap-
pies and tobacco, and moderate crops
of cotton, flax and white potatoes, all
of them bringing excellent prices,
would have been. esteemed cause for
good feeling and confidence in any
year in the past. As is shown in an
other column, the six most important
crops of the country in a financial
way will this year net sum in ex.
cess of 5000, 100000, gain OF z per
cent over last year, and 1.6 per cent
larger than the aggregated highest
values of the best of past years.
Bradstreets.
The following notice is being pub.
lished in Eastern financial journals:
"A distribution of SIS per share on
the capital stock of this company
Pacific Mail Steamship Company has
been authorised payable at the treas
urer's office No. 165 Broadway, N.
Y, on the 18th day of December, 1915,
to stockholders of record at the close
of business on the 4th day of Deem
Der, 1915, such distribution to be paid
out of surplus resulting from the de-
crease in the company's capital stock
from $20,900,000 to $1,000,000 par
value.
"The stock transfer books will not
be closed for the payment of this
distribution. Checks will be mailed
only to stockholders who have filed
orders authorizing such mailing"
To sum up, optimism is now the
dominating note, a record fall and
winter trade is well-nigh assured, and
the country's industries are receiving
such an impetus from bounteous crops
at high prices and unparalleled for
eign demand for manufactured goods
that the present year will set up a
number of new records of measure
and movement. Bradstreet's.