The Hawaiian gazette., 1916-02-29
OLAA TAKESIUM
TO SIXTEEN BID"
WITH NO SELLERS
But President Thurston Says
- There Is No Immediate
Prospect Of Dividend
49,. sts NaMa.E e.. -
MANAGER ECKART'S REPORT
FOR 1915 IS MADE PUBLIC
fttt,g f.t4g1 CAL aEIa .,.g ta.t SOL E.
Condition improves and Output
Expected To Exceed 10000
,.t~ Tons Next Year

olaa. Sugar Company stock went up
to Hl6 bid and no sellers" immediate.
ly after the annual meeting of the
company yesterday, even though presi-
dent l.. A. Thurston stated that there
Is no immediate prospect of dividends
being declared. =
According to the report of the treas.
urer, A. W. T. Bottomley, net profits
Of the company for 1918 were 1907 1928.
depreciation is figured at 500, 697.
Gross receipts from sugar sales were
$2,497 ,435, the labor bonus was $41 $3.50
and the unsecured Indebtedness was
reduced by $274,0l4.
Manager G.. +. Eckart's report for
the year ending December 81 last,
stated, in part that: .r.
''"The physical condition of the plan
tation Is rapidly and steadily improv-
ing, and il is believed that the 1916
crop will be the last to yield under
10000 tons Of sugar The yield of
, sugar per acre for the plantation fields
for the 1915 crop showed a gain of 35.S
per cent over that of the same fields
in 1918, while the cost per ton Of
bringing the cane to maturity was re-
duced All per cent. Further increases
in yields and reductions in costs are
confidently expected.
at Is planned to make the year 1915
one of special development along
many important lines and to ma.
terially strengthen the capacity of the
plantation to meet such untoward in
fuences as may possibly arise in the
future.
Crop Of 1915
1.-THE harvesting of this crop was
commenced on December Z, 1914, and
completed on November 25, 1915. An
unusually early start of the grinding
season was considered advisable
owing to the increased output of su-
gar expected and the possibility of oc-
casional9 dry spells occurring to re-
tard the general :, fluming. operations.
As it turned out, the crop exceeded
the official estimate by a little more
than 500 tons and the weather condi-
tions from the beginning of the year
to the end Of September were the dry
est on record.
Altogether 2S3,1l6 tons of cane
were harvested, yielding 32,3OS.22
tons of sugar. The total acreage crop
ped was 6367.2l, and the average yield
per acre, 5.07 tons sugar.
Bought Much Outside Cane
OF the total amount of sugar the
output from the plantation fields was
H,101.6l tons and from the outside
planters areas, 15,206.6l tons. The
slight increase in the total area crop
ped over that given in the last annual
rerort was due to the inclusion of GER
tain small patches of abandoned cane,
belonging to outside planters, which
the prevailing prices warranted clean
ing out and taking off.
"The average sucrose content of the
cane for the season was abnOrmally
low, requiring $40 tons of cane to
make one ton of sugar. The average
extraction was 96.07 per cent as com
pared with 1919 per cent for 1914, and
94.1l per cent for 1918.
Prices Exceptionally Favorable
"The prices for which the greater
part Of this crop was sold were ex
ceptionally' favorable, the average
New York open market quotation, de
terminihg the proceeds from our CON
signments, being 1867 cents per
pound. T.
The lowest New York quotation un-
der which an Olaa cargo REACHED the
mainland market was 3.69s cents, and
the highest quotation affecting the
plantation sales was 4.SS cents per
pound. At this date, February IA,
there are 1861 tons of 1915 sugar
still ahoat which may be expected to
reach the eastern market very shortly
and under very satisfactory price con.
ditiOns.
1915 Crop Is Small
"Under this crop the total area is
5,662,62 acres, of which the planta-
tion fields occupy 3,O4l.73 acres, and
the outside planters 2,62O.S9 acres. The
plantation field area comprises 3SO.O2
acres of plant cane and 2,66l.7l acres
of ratOons.
"Not only is the area of this crop
considerably less than that from
which the 1915 crop was harvested,
but the weather conditions under
which 1t was grown were particularly
unfavOrable. The first growing season
was characterized by almost continu-
GUS rains, and the second growing
season by protraeted droughts. The
estimated yield of sugar is 26,3OO tons.
1.-The harvesting Of this crop was
commenced on January II, and is FRO
cceding satisfactorily, the juices being
somewhat better so far than for tho
corresponding period of last year.
But 1917 Bigger
1.-THE total acreage Of this crop is
64sO.04, of which 332O.23 acres are en-.
braeed in plantation fields and 3l6O.7l
acres in outside planting contracts.
The plantation field area is comprised
Of 9s.75 acres of plant cane and 1921 .48
acres of ratoons.
cup to the present time the 1917
crop has made excellent Roadway, and
with the exception of few late start
ed patches is in splendid condition. 1t
Ia not too much to expect that this
crop will surpass the 1915 yields by a
very wide margin.
Tho 1918 Crop