Honolulu star-bulletin. [volume] (Honolulu [Oahu, Hawaii]) 1912-2010, 1916-02-29
Purchases of Stock During
Year at Total Cost of More
Than sos, 900

Honokaa Sugar Company and the
Pacific Sugar Mill, by the purchase OF
175,o00 shares Of stock in the Hawaii
ian Irrigation Company. Ltd, the price
totaling more than $4,000, now own
practically all the shares in the latter
corporation, according to reports pre-
scented to Honokaa and Pacific Sugar
shareholders at their annual meeting
this morning.
The annual report of F. A. Schaefer,
president of Honokaa, follows, In part:
Crop Of 1915.
This crop, which was estimated by
the manager to produce 10000 tons OF
sugar, was. great disappointment, the
outrun being 8,612.625 tons only. 1t
undoubtedly suffered from unprece-
denied rains of 1914 while the juice
was poor, it taking on an average 9.25
tons of cane to produce ton of SUI
gar, in spite of greatly improved mill
work.
Crop Of 1916.
"This crop will be harvested from
2484 acres. which Is estimated to pro-
duce 1000 tons of sugar.
"As much of this crop is to be har-'
vested from high-level lands, beg to
quote from last years report, where.
in the manager reported that these
upper fields were nearly drowned out
lin fact. they hardly made a move
during the past four months, and from
this condition recovery was very slow.
Crop 1917.
"This crop consists of 1858 acres.
At the time of writing this crop is
looking remarkably well, although the
stand is thin in patches. Given good
growing weather this year, and APP
plying the principle Of forcing the sec
ond season growth of the cane, which
has given such excellent results on
other plantations, / trust that the
1917 crop will be well above the aver
age produced.
Expenses.
The cost of producing ton of
sugar was considerably reduced, viz:
from $50. 136 to $54.253, these figures
not including bond interest, etc., while
the net profit on the crop-over and
above all charges - was $161, 849.S3,
which includes charge of $17,720.42,
sinking fund on the bonds, which is
payable to the trustees during this
year.
Hawaiian Irrigation Company, Ltd.
Ddring the year the directors, on
the authorization of the stockholders,
purchased q four-sevenths interest IN
122. 500 shares of the Hawaiian Irriga-
ton Company, Limited, for the sam of
ss1. 1923, paying for the same in
cash.
This purchase gives to this company
and its neighbor, Pacific Sugar Mill,
practically all of the shares of the
Hawaiian Irrigation Company, Ltd,
and is expected to prove very advan-
tageous."
: President Schaefers report, as pres
ident of the Pacific Sugar Mill, is in
part as follows:
Crop Of 1915.
This, crop was estimated to pro-
duce 1865 tons of sugar; the outrun,
however, only amounted to 1853 tons,
being 402 tons short of the managers
estimate. 1t undoubtedly suffered
from the unprecedented rains of 1914,
the Juice being poor, 1t taking 9.11
sugar, in spite of greatly improved
mill work.
Crop Of 1916.
This crop will be harvested from
2066 acres, which is estimated to pro-
duce 5y40 tons of sugar. The upper
lands to be harvested this year re-
ceived very bad setback during the
first few months of their growth, on
account of the continuous wet, cold
weather.
Crop 1917.
At the time of writing this crop is
looking remarkably well, and, given
good growing weather during this
year and applying the principle of
forcing the second season growth of
the cane, which has given such excel
lent results on other plantations, r
trust that the crop to be harvested in
1917 will be one of the best ever pro-
duced by your company.
bitches.
The average flow of the Upper and
Lower Ditch OF the Hawaiian Irri-l
cation Company. Limited, was very
good during 1915; not once did the
Lower Ditch fall below the 10000, 600
gallon mark.
Mil.
+ During the past year the cane of
the Pacific Sugar Mill was again
ground at Honokaa Mill. with very
gratifying results The mill work.
during the year, showed a great Inn
proyement OVER that of 1914, the re-
coyery being S6.S2 per 100 sucrose in
cane as against 1856, an increase Of