The Hawaiian gazette. [volume] (Honolulu [Oahu, Hawaii]) 1865-1918, 1918-08-02
EXPECT TO OPEN
SUBSCRIPTION TO
NEW STOCK MONDAY
All Difficulties Have Been Over
come Ii Advance For Amer
lean Factors Limited
BIG CONCERNS PLAN TO
T. TAKE UP TO THE LIMIT.
No Subscription Office On Main
land To Be Opened and
Heavy Demand Indicated

Heavy Demand Indicated
Subscriptions for stock in American
Factors, Limited, the corporation which
is to purchase the assets and 7oing
business Of II, Haekfeld &gCo., Limited,
with the proceeds Of sueh stock, are
expected to open Monday morning, and
90 continue open about two weeks. In
dicatiens yesterday were that all wonld
be IN readiness for the opeDing at that
time. The directors have been working
ont the prospectus which will be pub
lishCd in advance of the opening Of
subscriptions. Other necessary details
have been practically all worked out.
The sale Of Hackfeld q Co = bust
ness and the dissolution of that house
viii be cornnleted with the unanimoas
consent of the stock holders. the enemy
alien shareholders having been repre-.
sented and their stock voted by the
custodian Of enemy property The con
sent of the last outstanding stakeholder
has been received at the Office of the
custodian in Washington and announce
Iuent Of the fact sent here by wireless.
The consent itself was eabled from
Italy to the United States and had
beeh considered rs certain. This stock.
holder was Miss Clarissa Phuger. Ger
man as her name sounds she Is loyal
American, a worker for the cause Of
the Allies, and is now in Italy nursing.
Her father was German, her mother
an Australian and the daughter is an,
american.
one Subscription once
Subscriptions for the stock of Amer
lean Factors, Limited, will be received
in Honolulu and only in Honolulu nc
cording to the plans as worked out.
There had been some talk on the streets
of the possibility of receiving snbscrip-'
tons on the mainland also but IL Is
understood this will not be done though
subscription blanks will likely be sent
there. ''+
The subscription books will remain
open from August to August 20 and
proof Of the lovalty OF the subscriber
must be furnished to the directors be-
fore an allotment of shares is made.
There will be $4,000 shares of a par
value of 500 each and of an assumed
mark ct value of $50. This figure
would indicate that the new stock is
expected to pay about one percent
month.
Under the organization terms the
stock will all 90 into holding trust
and the successful applicants will re-
ceiVe trust certificates instead of stock
certificates. The shares win TINS be
held and voted by a board of seven
trustees for the period Of the war and
for three years after peace.
Opposition Overcome
Criticism Of the plan that has been
put into effect to Americanize Hack
field 4 Go. has been freely voiced.
When ROdiek was expected to return
within few days an effort was made
to forestall his return by a sale of
the enemy held stock 1t was neces.
sary TO do this in his absence as pow
ers of attorney would not be valid with
him in this Territory The stock was
sold and the plan went forward but it
did not meet the approval Of the Gus.
tddian. While these plans were going
on many an obstacle WINS thrown in the
wy Of the reOrganizers by others who
desired to secure the stock for them
selves. 1t was impossible to get cable
messages through and aspersions upon
the loyalty and good faith Of the re,
organizers were sent to Washington.
When the custodian's plan was an
pouneed those who had sought TO SCI
cure the enemy held stock Tor them.
selves did not desist in their efforts.
They offered nothing better, nothing
different from the first plan, the one
the custodian disapprOved as to meth.
DDS and their proposals met with a
similar fate. &c p, "a
During that time it was said that
the chief assets. of Hacltfeld & Go.
were its agencies and that these could
not be retained unless the plantations
had assurance of the management and
were satisfied. Word was sent to
Washington that this could not be Sc
cured under the plan.
1t was also said that the stock could
not be sold unless it was known that
the agencies could be rtaiped. This
report also reached Washington, and
attempts to throw cold water on the
project were many. ,...
But the plans went ahead. The plan.
tatiOn companies have made the new
company their agent and the subscrib.
ers know this before they put in their
application.
OyersubscTiptIon Likely
From the indications that have come
10 the direct crate named in the inc0r
poTation papers Of American Factors
Limited, they believe that the stock
in the new company will be consider
ably Oversubseribed. Many large
houses have indicated their intention
81 subscribing up to the limit of 250C
shares and numbers Of individuals have
Indicated an intention of~inyesting "a
the extent Of their means.
With a holding trust that is salts
factory, with an assurance Of salts
factory management a certainty Of