The Maui news. [volume] (Wailuku, Maui, H.I.) 1900-current, 1922-06-20
PROSPERITY is APPROACHING

Industrial conditions of the Islands r again on the upgrade
and the spirit of optimism is again in the ascendancy. Industrial
news in connection with the sugar companies, especially the devel-
opments announced the latter part of last week, are all OF a highly
encouraging nature. Enter the "Joys'; exit the "Glooms'
Recently raw sugar prices both in New York and San Fran
cisco have been hanging about or above Az cents and the Honolulu
stock market has felt the buoyant effect of the rise in price. On
top of those reassuring conditions came the report that Hawaiian
Commercial & Sugar Company has resumed the payment of divi-
dends and that news is followed in turn by the announcement of a
distribution OF $2,OOOOOO by the Crockett refinery among the 1a-
waiian plantations.
Resumption of dividend payments by the Puunene company is
taken as a forerunner of similar action by the other sugar plantation
companies. From several sources have come the report that some
profits may be shown with raws selling at Az cents and that lends
further strength to the belief that other companies will soon be max
ing dividend announcements.
The distribution of 100000 from its sales by the California
Hawaiian refinery to the Island plantations is of valuable assist
ance i'll furnishing working capital and a relief to the hnanclal mstl-
tutions of the Islands as well as the plantations. Ownership of the
refinery by the plantations is being shown as an advantage; On a
rising market it is a guaranty of getting back better than the mar
ket price for raws and it has been a rising market for the past sew
eral weeks.
Another most encouraging feature is the getting back to or
near the normal time for the ending of the grind by three of the
Maui plantations in spite of continued shortage of labor. 1t was
necessary somewhat to curtal the area cultivated but it is demon
strated that it is advisable to cultivate a somewhat reduced area
adequately rather than to undertake to cultivate the full area with
an inadequate labor supply. And IN other ways the experience OF
the plantations during the period of depression will bring some adj
vantages in time to come. Necessity has demanded the introduce
ton of labor and cost saving methods that will without doubt be
continued in the future and has stimulated intensive work. Espe-
cany in the experiments of selected buildings has great progress
been made recently.
Aside from the sugar industry, Maui has cause to be optimistic.
The price of pines is higher than last year and the promise of a
large crop is good. Expansions of that industry are in order, too.
There is to be a cannery built in the Hama district and Pauwela is
preparing to cultivate an increased area in the Kahakuloa country.
With the sugar industry distinctly on the up grade and the pine
apple growing and canning industries in excellent position, all other
lines of business on this Island are sure to grow better and better.
Travelling men have said for months past that business conditions ON
Maui were better than anywhere else save Honolulu and now they
may be expected to grow even better.
Yet another encouraging feature of the comparatively recent
news is the steadily easing condition of the money markets of the
nation which made possible the floating of Territorial bonds and
enables the going forward of improvements that it was feared would
be halted.
All in all, it is evident that optimism is warranted and the sun
OF prosperity is successfully breaking through the clouds of bust
ness depression.