Honolulu star-bulletin. [volume] (Honolulu [Oahu, Hawaii]) 1912-2010, 1916-10-19
PLANTATIONS TO
merge, ISsT0RY
SPREAD ONCOAST
San Francisco Chronicle Haz-
ards Guess on Deal in
Brewer & Co. Interests

Rumors OF mergers and combines
IN Hawaiian industries are largely
made IN California" these days.
Charles Remington. the financial
editor OF the San Francisco Chronicle,
published under large headlines in
the issue OF October story TO the
effect that California has heard there
is q big merger OF Hawaiian planta-
items pending. He backs up his story
by citations of figures
Here is the article:
with or without foundation, Cali
iornia street has become convinced
that some kind of a merger OF Ha-1
wHifan sugar plantations is pending,
and the belief is strengthened by the
fact that one local bank and two local
brokers. all with strong Eastern con-
nections. received yesterday inquiries
from New York for Hutchinson and
Paauhau stocks and probably for Ho-
nokaa. There have been very, few
Of these stocks In New York, which
hardly knows OF the existence of the
properties, and this sudden interest
could be stimulated only by the knowl-
edge that some sort of a deal was in
hand. One broker received message
Yesterday saying Hutchinson was quot
ed 30931, and predicting that the
stock would touch IS. The latter fig
ure IL not reasonable, for 1t is well
known that the controlling interests
in. Hutchinson and Paauhau have al
ways figured that control of the prop
critics was worth from 40 to As.
fThe most probable assumption Is
That q merger of the Brewer planta-
tons is contemplated, and the East
ern inquiries from several sources
would indicate that the deal Is pretty
well along toward contamination. II
is well known that Henry st. Goar,
who, with associates, controls Hutch
inson and Paauhau, is in New York.
st. Goar, IL may be added. has very
large interests in Honokaa, Schae-
fer property, and in Onomea, another
Brewer property.
With st. Goar is f. Faxon Bishop,
president Of C. Brewer & Co., factors
for 10000 tons of Hawaiian output.
Accompanying them is C. B. Wells,
who can swing control of Waikiki Su-
gar Company, the second largest prop
erty for which Brewers act as agents.
In addition II is believed that st. Goar
Is in q position to deliver control Of
Honokaa In other words, these three
men, with the cooperation of John ID.
Spreckels and John A. Buck, could
swing control of plantations with an
output OF about $4,000 IONS.
THE plantations, with tonnages,
for which G. Brewer & Co. are agents
follow:
Plantations. Tons.
Hakalau Plantation Co. $500. 1929
Hawaiian Agricultural Co.,. 16,407
Hflo Sugar Co. ... 1906
Honolulu Plantation Co. .. 1928
Honoipd Sugar Co. ......... 1852
Hutchinson Sugar Plan. Co... 6,7Sl
Kilauea Sugar Plan. Co... 6,7S3
Olowsiu co. ......... 2.I73
Onomea Sugar Co. ....>.. 21,S20
Paauhan Sugar Plan. Co.. lQ.07S
Pepee1teo Sugar Co. .a.... n,94S
Waikiki Sugar Co ....... I5,177
sWaimanalo Sugar Co. ..... $3.50
Most of these properties are con-
trolled by c. Brewer & Co.. through
stock ownership. The Irwin estate |
controls Hutchinson and Paauhau,
Buck and Ohlandt interests control
Honolulu and Hakalau, while John D.
SpFeckels controls Hilo and Kilauea.
"Of all the properties mentioned,
only the stocks of Onomea, Hutchin- !
son, Paauhau, Honolulu and Honokaa
are at all active in this market Some
OF the stocks are not active in any
market, for they are closely held. The
only stocks that have shown any
action in response to the reports from
the East are Hutchinson. Paauhau and
Honokaa.
Hutchinson will earn this year
about $6 a share and will pay $500. |
Paauhauz will earn about $5.25 and !
viii pay 81. Both plantations have !
purchased this year from earnings |
100000 In high-grade bonds, and |
Paauhau has put about 500, 200 back |
into. the property. Hutchinson is a |
better Garner In good years, but Paau- |
hau is regarded as more OF certain |
~. Forty dollars share is the price |
az which both stocks have been fire.
qusntly mentioned Tor control. Homo
kaa has been in debt, but this years |
crop is expected to pull the property |
ont. while the 1911 crop has been es.
timated at 5000 tons. The stock has |
sold as high as IS, and it is under |
stood that F. A. Schaefer has always |
held out for $50 share for his stock, |
which represents control"