Honolulu star-bulletin. [volume] (Honolulu [Oahu, Hawaii]) 1912-2010, 1916-07-22
MARKET APPEARS
STRONGER THANH
FOR MANY DAYS
Weeks Developments Favor
able; Recoveries General
and Demand Increases


Developments in the financial and
industrial world as seen from the
Honolulu Stock Exchange were all
highly favorable and the week ending
Friday evening saw the local stock
market with far better tone and
with promise Of activity not offered
for several weeks past. 4.
The early part of the week saw
stocks acting erratically and the gen.
eral tone not of the most satisfactory
character. AS the week progressed
and all news was favorable more and
more interest was displayed and p-ac-
ticaily the whH.e list gained in
strength. The unlisted securities fcit
the effect some Thursday and mora
Friday.
Beneficial Effects Felt.
1t may be that the action of Oahu
stockholders and the shareholders of
Pioneer Mill was discounted in at
vance, certainly it had been we'll an
ticipaI1d, but the effect appeared
highly beneficial The action OF The
four Brewer companies in reducing
the par values of securities was also
stocks more readily marketed and
more open to investors than on the
higher par basis. Mineral Products
Company meeting also brought favor
able comment. The reports though
extremely conservative in general
held forth the direct promise of some
early production and the action rela.
tive to issue of the treasury stock
appeared to meet with approval. The
directors course in first getting down
to a careful study of the affairs of
the company before taking action on
the stock sale was considered BUSH
ness intelligence and the offers for
the stock Friday morning reflected.
such feeling.
Such reports as were received rela-
tive to crop estimates and the pay
ment of extra dividends by Hawaii
Commercial combined with the diyi-
dend declarations of Oahu and Pr
oneer Mill had their Strengthening
effect
Declines Come First. 81.
Early in the week the tendency OF
the market was lower and most ac-
five stocks suffered declines Prac-
tically all of such declines were later
either regained or nearly so and In
some instances advances for the week
have hnnn scored. Eva has shown
net gain of 2, Oahu /, Olaa u. Pr
oneer y, WalallTa 11s, and Hawaiian
Pineapple rs. In the unlisted Sc
curity there were more transactions
Thursday and Friday than in the other
DAYS of the week combined. In the
market resume LAST week the pro-
posals submitted to- the stockholders
of the companies that were TO nave
meetings were outlined and as each
meeting was held the action taken
was given in more complete detail by
the Star Bulletin so that further conf
ment on such meetings is now not
required In every instance the pro-
posals will be put into effect and
made operative as soon as the enart-
ers of the companies have favorable
action given them by the government
This is matter of mere detail ana
should be speedily accomplished.
Double income Tax.
During the week 1t developed that
such onoosition as was offered to the
proposals of stock dividends came 10
4 large extent from those who object
to a double payment of income. tax.
The earnings of the company are al.
ready subject to the tax and nad tney
been used as they are to be WITHOUT
issuing new stock would be. exempt
from further payment while the stock
dividend is considered as a part OF
the years income to each stocknoiaer
and as such will subject the recipients
Of the dividends to a payment on ina.
amount. thus constituting a seconu
income tax. l. ~. =. !: Z