The Hawaiian gazette., 1916-10-24

Cooke, was declared to be the owner
of the property provided the secretary
of the. treasury, ratiRes the sale. e. "
Transaction Completed
The directors of Castle & Cooke then
returned to the Office of that concern,
ratified the action of their agent and
drew check for $23,75O payable to
treasury of the United States in &C
cordance with the terms of the sale,
this amount being five per cent Of
their bid.
The check was, then rushed to the
bank and certified. 3D..
At half,past twelve #. H. Petrie
handed the check across Castle &
Cooke . counter to Collector of Gus
toms n. A. Franklin. He looked at it,,
passed IL to Deputy Collector Raymer
Sharp for verifcation and then casual
ly folded the pink "scrSp of paper, 1"
put it in n note book and dropped it
into an, inside coat pocket.
Will Recommend Sale
81 congratulate you, gentlemen, he
said, land thank you. / feel that the
price paid is not enough. Nevertheless
l will recommend that it be accepted. "
Those present wnen this official act was
contaminated were: Frank G. Anterior,
George p. Castle, Charles H. Ather-
ton and T. H. Petrie representing Cas-
tie and Cooke, the collector and deputy
collector and p representative of The
Advertiser.
The directors of Castle & Cooke, in
terrogated as to their plans, stated
that eve are now the sole owners of
the MahukuN site. A hui had been
formed with us consisting of the Ha-
waiian Electric Company and the Nc
Inerny interests, but we do not know
whether these two interests will care
to pay the price now that the value
has gone up SO much above our orig nal
figures. 49,. tsHgEr,. q. g..
"We cannot at this time say when
we will build or anything concerning
the character of the improvements to
be made. Our. lease on this building
still has about four years to run"
Hawaiian Electric Ready
(, Frank E. Blake, manager of the Ha-
waiian Electric Company said, after
the sale, that his company win erect
q fOurst0ry reinforced concrete build
ing at the corner OF Bishop and King
Streets, plans for this structure having
been fully prepared. So. .. T.
The McIperney 3, il they complete
their option with Castle & CoOkes will
build a handsome block fronting King
Street, to accommodate both their
clothing and shoe stores.
Rudolph Buchly, cashier of the First
National Bank of Hawaii, asked whethr
or the bank will at once build on its
lot at the, corner Of Merchant and
Bishop, said that depends on what his
directors decide. II is understood from
other reliable sources however that the
bank will build as soon as the other
property owners start. Their building
will be one Of the finest business blocks
in Honolulu.
When Materials Drop
&. A. w.. 7. Bottomley speaking for
Bishop a. Company who Own the lot ut
the ,makai Eva corner of Merchant and
Bishop Streets said his bank may not
build at once as the present price of
building materials is considered abnor'
nah Bishop q Company have planned
to put up their new block at the same
time Us the new buildings on the other
three corners are being erected, be-
Galse traffic on the two streets will BE-
almost completely blocked aud the pub
lie should not be unduly disconnected
| he said
Five story Block
Albert +, Judd, trustee of the BishoI
Estate said that plans and specification
# .