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title: 'Evening bulletin. (Honolulu [Oahu, Hawaii) 1895-1912, March 29, 1907, 2:30 O'CLOCK EDITION, Page 6, Image 6',
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KVIkNIMI HUt.t.KTIM. HONOLULU. T. II. I'llillAV. MAItUtl
12. I I'll).
Tiixck untilil nnl U 1cm 1 111 2O,U0(MiO !ll),()Uli.OO
Leaving n balmier for itilrrrt, dhidend, ifr, of 4iHA,:t l'J.00
lnteiet nt !l mi IniiiiM niinunlly
from earning '.$ (10,000.00
liYtimilng to the Territory tin in
terest ndvnnccd iiiiniinlly 00,000.00 120,000.00
llittmirv for preferred nlorl. rle., ele JM7f,!ll!J.OO
Transportation In The
Territory Of Hawaii
The People And Just Promotion
The Present General Railway Law Which
Permits Over Capitalization And
(From Pamphlet issued by L. E. PINKHAM)
KUIVATION IS KKHKIi.
KDICATIO.N IN I'lt.U Tit A I. (( ( TI'ATIO.VS lS
oproimwrriKs roit a ski.k uickpkctimi i.ivij-
LIIIOOI) AIM-: STILL M()1!K XKKDKD.
TIIK WKLFAKK OK TIIK COMMON I'KOI'l.K .IIST
UK TIIK I'Ainicri.AK CAIIK OK TIIK TI'.IM.'ITOHY
Kolt TIIKV CANNOT INDIVIIXAI.I PUOTKt'T
TIIKIK OWN INTKUKSTS.
IN ( AHIMJ J-'Olt TIIK I'KOI'l-K IT IS NOT N'KCIJS
SAKY TO IN.II'KK TIIK LAl'DAUI.K INTKKKSTS OK
OK DKSTKOY ('AI'ITAL OK ol'K OWN MAIN INDUS
TRY HIT KATIIKK I'KO.MOTKTIIKM ON TIIK LINKS
OK KQl'ITY AND .ITSTICK.
TKANSI'OKTATION IS TIIK MAIN KACTOK IX SIC
(TIUNC TIIK KKSI'I.TS OK INDI'STKY AND KXTKK
IMMSK AND ITS IMiOMOTKKS SHOULD l!K KKI'T
WITHIN TIIK I'.or.NDS OKCONSKKYATIYK KXTKK
VKISK AXI) NOT UK OIYKN OlM'OKTI'XITlKS KOK
L-lttlAL KXIM.OITAnoNS AND IMJltDKXSOMK
CHAKCiKS ONITIIKI: LAIKJIi OK SMALL I'KODIJC
EKS. tkaxspokVation conditions axd im:im:li:m.s
tkkkitoi.'y ok hawaii.
The very ohoapc-t MNihle ti-iiiispormiiun ly -:, mill the
very I'hoapost possible trsiusportulioii liy lain, i-. nece-wary for
tlio vory existence of tin present nuil possible industries of the
Territory of Hawaii, that they limy live nuil proipor in eompe
tition with the more favored iiml lt- di-ilautly situated coun-tric-i
us to markets, which coiiiiitilioii pniiiMM-H to become
more kcuii nnil i-ovore.
Tho chciipcit mid quickfsl transportation liy cn cm never
lio obtained until steamers vim Imtli lo.nl and tli-chnrgc cuiyiK1-
alongside wharves nt railway tcimimiN.t
Tlio intoie-st on legitimately i-mml Kailwny ISoiiiN anil Cap
ital Stock, paid for in cn-di, in a legitimate charge on tlio people)
ami iiuliwtrii's putroiii.iug such railivnv.
Neither Section MW K. L. of Hawaii, nor Chapter (it It. L.,
ninnd protection to the people from over is-mes of ItoniU anil
Cnpilal Stock, -which careless legislation it invarialily taken
advantage of to exploit tlie people anil their iinlii?t ri-r
The Islands of lluuaii nnil lvuuiii are particularly xtilTcring
nnil are being retardcil in (leveloiiieut from tlie lack of railway
accommodations terminals anil huibors.
Tho districts of Ilaiiiakiiu anil Ililo, Island of Hawaii, ami
tlio two districts of Kauai, 1st., the South, anil '..'ml., the Knst
ami North, hick railway facilities;.
The Hawaii Kuilwny, serving tlio district of Xoitli Ivohiihi,
needs ,i quiet harlior and terminals, which might lio properly
liK-ated at Kawaihac, Hawaii, in coiiueetion with other lines
A railway is needed from Kawaihao through tho Waimeii and
upper Ilaimiktia, Hawaii, distriutH to u itiuction with n lielow-dej-crihed
hraiich line, ami tlieuio to the city of Hilo, Hawaii.
There oxihts at the presi at time moio or les connecting lines
of ilaiitntion railas leaehiue; directly the wugar mills of tho
Hainakiia district, and, from which tlie heavy freight trailie,
must at prcHMit originate, which lines nre capahle of Iwing very
cheaply tiansformed into a lino of railway wrving the lower
portioiiK of said ditriut nnil then connecting with tho main
line aliove-iueiitioueil form a line which would continue to tho
city of Kilo, and which would i-ervo the Hilo district.
Tho ICoiui district of Hawaii is ahoiit to lio cerved liy the
extension of tho existing railway, and tho Kau district mint
depend on extensions of come line existing, or projected.
Theie are escellint lines of plantation railways on the south
of the Island of Kauai that could lo connected into one adequate
line of railway for that district, xerving lmth tho plantations
and pulilic; ami on the eatt and north of Kauai nearly similar
It is uuccxMiry and dciirnhle to icetaiu whether Kauai can
he heht served hy one or two railway systems,
Tho Island of Maui is well Mined hy the Kahiiliii Kailway,
which now holds the eoutiol of the situation, mid can ho ex
tended as required.
The Island of Oahu is well piovided with railways nnil ex
tensions are hoiug made as rapidly as equiied.
J n the districts of llaiiiakua and Ililo, Hawaii, from Wnipio
Gulch to Ililo, Hawaii, covering a railway mileage of nppoxi
jnatoly seventy miles, there is an existing freight tonnage out
wanl hound of approximately 110,0(10 tons of sugar and other
articles, ami an inward tonnage of not less than 100,000 tons,
and a population that should furnish not le?s than -100,000 sin
gle trip fares each ,vnr, all of which annual trniiic should, at
lower rates than now pievnil in tho Territory, produce a gross
rovenue of over liOO.OOO.OO per jenr, and operating and main
tenance should nut exceed '.".MOOO.OO per annum, leaving a
net margin of if!) 10,000.00, against which interest mid divi
dend charges should not exceed $100,000.00 annually, leaving
a Hiirillus of $110,00.00.
A great expansion of tr.iilio and earning uiiis'l occur when
tho hinds of Ililo, llaiiiakua and South Kohala districts are,
In tho south distiict of llm Island of Kauai, thero is a pos
sihlo traflio of .SU.UOO tons, and in tho north distiict of 2:2,000
tons (Liliuo I'laulnliou being excliuled) and u population thai
should yield 100,000 fans, tho ruu'iiuo Irom which tialllu can
not ho estiiiiuted until termiiials and htfihors tiro determined,
but'which can ho cared for with financial success hy plantation
agreements as tji the utili.atioij of existing plantation iiiilwiiys.
Jhich jiowor'for elcetrio operation of railw'ays can hu hceiireil
from wilier lietuls on Govvniiuetit hinds not aliomited, and it i.i
J "" " l '" .'.... It.. .Ul .11, .
Wf to fmnhiuo tin' two nydiin of uteiini ilinl el(ttloll,V,
Hiir1lig the wlriilitngoA of ench.
It i tim- lime to coiioldcr whether it Is- piwilile to iiecuro
lhe hHperfllhelv needeil fnotlltie of lranMirlfltloii for llm
Ihliinil of 1 1 a wnll ami Kauai tmder imiiiic rnilwin corpoiiitloti,
ill which tho OnvcTlllnclit fhnll luie ii uiee, mid the Hom1i nuil
('Hpltnl StiM'k of which ihnll not eerd the iictual im1i paid
in mid h riMifonuhle percotitngo for promottoii ami JNcoutit, llio
iue of ImiIIi to Is) henlly limited, ami Interest and diWilend to
Ih Koiimlly and juMly limited, that the people ami imluMrioft
of lluo district may not Ikj e.sploited fnrcwr, and that, in
iiirniiigs increiti'o, tralliu ehnrge may Ik reduced th.it the peoplo
and their industries may thrive, increase and pro-per.
The Mock-jobbing, manipulating, watering and inflating of
the bonds ami capital stock of tho railroads of the mainland has
aroused the I'rcident of the Tniled Slates of inericn and
public opinion to this shameless and corrupting exploiting of
the people, commercial corruption and destruction of all fliuin
It is the duty of the Legislature of tho Territoiy of Ilirfvaii
to fee to it that neither tho Legislative nor Kxrcutive powers,
nor the people, are over-reached by tho-o who would fasten
forever millions of dollars of Imiius stock on the peoplo and
industries of this country.
The Territoiy has, in the past, given financial aid to railway
development, it may scrk to ascertain if its financial aid is nec
essary to protect its piople and industries in their imperative
need of cheap transportation, and, should it so prove, seek the
lo'cessm-v authority to render such aid.
When once railroads are established in these districts, ami
i-siicx of capital stock are emitted, the peoplo and their indus
tries can never pecure telief through competitive lines of trans
portation, but will bo subject to tralliu rates beat described by
the words "all the trailie will ls-ar".
The Kxccnlive should ceae any alienation of publics water
heads, pending the determination of the best methods of pro
viding needed transportation facilities within the Territory.
The Legislature should carefully consider the intoiests ami
wclfaio of the people of the Territory of Hawaii and guard
them in every possible! and reasonable way from the results of
excessive capitalization and unlimited (lowers of any corpora
tion organized for the purpo-e of furnishing public' railway
transportation. .. ' f kM
Tin' oiifiuliim of lln' "Autrmlcil Clvnsnil Hdlhtfiii Law" mid
the Art "TO KXCOUKACiK TIIK HUILDIXG OK I'UHLIO
KAILKOADS OX TDK ISLANDS OK HAWAII AND
KAFAl" will hr itpproxinmlcly tit fulluwn:
It is impossible" to make cIom' estimates for the Island of
Kauai, as termiiials hao not been determined upon, but on tho
lioitheast coast of Hawaii fair conclusion can bo in lived at
and tho principle of Government, aid bo illustrated.
Under the old Cn'iu'ml Hallway I aw, tho cost of a railway
in the districts of Ililo ami llaiiiakua, Hawaii, consisting of
IS miles of coast line, l mile of connecting line ami 50 miles
of main line, or a total of 12 miles, would 1m:
In 1st Mortgage Ilonds $:!,000,000.00
In Capital Stock, !MI' of which would be a bonus 3,000,01)0.00
To reach Kawaihac would cost:
In 1st Mm Igago liomls ....$1,000,000.00
Jn Capital Stock, !IO'o bonus 1,000,000.00 2,000,000.00
Total roil of lailroail, II Ho lo h'mnuhae $S,000,000.00
The corporation could increase, this capital stock as they
Under llio Amended (lenenil I aw the same lines of railroad
would cost :
In 1st .Moitgago Ilonds $2,000,000.00
In I'reforcd Capital Stock 1,000,000.00
In Common Capital Stock for promotion, finaii
ceering, &c 750,000.00
To roach Kawaihac would cost:
In 1st .Moitgage Ilonds $ 050,000.00
lu Preferred Capital Stock. 1150,000. 00
lu Common Capital Stock... 250,000.00 1,250,000.00
Total co-,1 of Jlallroad, Ililo to luiwallian $5,000,000.00
Under tho Amended General Hallway Iah; applied aa above,
those patronizing this lino of railway will bo freed forovor of
the possibility 'of paying trailie rates to supply dividends on
$.'1,000,000.00 of watered stock.
Tho whole proposition becomes a fair, square deal, in which
the Territory, the people and promoters aro protected and pros
pered. Another featuio of the Amended General Hallway Law is
that the peoplo and not the corporation get tho benofit of the
sinking fund, which is, of cours, originally taken out of tho
pockets of the people and not from the stockholders, so that whim
the $2,(150,000.00 of bonds are paid on" by tho operations of the
sinking fund no stock cm bo issued in their placu and tho people
in cd furnish trailie charges for dividends on $2,!55O,O0O.OO
only, iiistc.nl of on $8,000,000.00 or more.
This means, oontiially, lower rates for transportation, so our
products can be brought very cheaply to tide water and theiieo
on a long voyage to market, able to stand a fair show in the
Jn tho Philippine islands, Government aid is being extended
very extensively in building railroads for development.
f tho Territory of Hawaii shows its confidence hy granting
tho trilling aid pioposod by this Act, 1 believo tho plantations
affected by this Act will quickly absorb $500,000.00 of preferred
capital stock, and that inwstors will greedily take up the other
$.100,000.00, and that as rapidly as needed tho $2,000,000.00
of bonds can bo sold, ami tho Hilo-IIaimikiia end of tho Ililo
Kawaihao railroad lino can ho quickly put under construction.
Thu following business is in sight at present:
110,000 tons of out-freight, 100,000 tons of in
freight ami tho probable 100,000 fares, which,
at lower rates than exist in tho Territory, would
bring in a levonuo of $005,312.00
Tho expanse) of management, oper
ating ami Miaiiiloiianco would 1m) ,,
' over estimated at $200,000.00 u Jj.
Thero i no giswl reason for exempting this particular rail
road from taxation.
The Territory risks but little in its interest ad
vances of $ (10,000.00
Taxes, not otherwise receivable, would amount to 20,000.00
Tho amount at risk is but $ -10,000.00
anil .that would be returned one-half each six mouths in all piob
ability. The increase of property values fur taxation and development
of tho country would add to the resources of the treasury of
Hawaii ami not deplete it.
It is not tho amount of money involved, but confidence shown
by the people; through the acts of its own legislature represent
atives, that will aid this imperatively necessary transportation
The mainland has suffered from excessive promotion and
manipulated ami iullatcd watered stocks, and Hawaii should
learn hy tho-o mistakes of careless legislation and granting of
franchises lo now avoid them.
The liaril time's of this Territory nro largclydue to reckless
fiiiuucerriug, and it is the duty of the Government to restrain
that spirit and endeavor to bring about an era of conservative)
'fiiiaiicecriug nml general prosperity among the middle classes
rather than listen to schemes that enrich only the holders of
Low anil decreasing traflie charges nro the only possible means
of devolopnii'iit of this Territory, nml remler transportation
available in all parts of the Islunels for the benefit of tho small
holder as well as our sugar industry.
Tin-re is every reason this Act should pass. Should it lie
deemed advisable, a public hearing should bo bad.
Tho Jshuid of Knuni mid her development of small industries
and protection of lier gre-at industry would bo equally lienefltcd.
'The great capitalists would not miss from their resources the
first requirements of $270,000.00, nor tho final payment of
$270,000.00 ami the lxinds would find u sale. I need not fur
ther illustrate details as to Kauai.
If the promoters anil organizers of these railroods aro frank
ami open in their dealings with tho public, they will not object
to tho public securing such information as may enable their
llepresentatives of tlio Legislature knowing tlio full cause and
edfect of such legislation as they lmvo enacted or may enact on
th subject of transportation.
If tlie promoters and organizers of these railroads desiro tho
welfare) of tho common peoplo and their littlo industries for all
time, they will restrain their desiro for immense- riches nnd lio
content with tho ample rewards these acts afford the opportunity
Should, tho I.cgisloturo prefer n few to sec nro great riches
ami permit them to issue lawful obligations representing not en
terprise or labor hut a keen instinct to secure enormous advan
tages over tho people and thereby hind the shackles on their
industry forever, it is not in tlio power of nny single man or
legislator to prevent.
Hawaii will for years re-peat tho cry of California producers.
Ali'ii of enormous capital aro becoming ashamed of their own
grei'd and its effect on tho general character of tho people and
AX ACT .TO AMEND SECTIONS 783 AND 808 OF
CIIAPTEK 114 OK THE KKVISEU LAWS OF
HAWAII DELATING TO THE GEN
ERAL KAILWAY LAW.
Introduced March 27, 1007, hy Senator Geo. C. Hewitt,
l'asseel first reading in tho Senate, March 27, 1007.
Section 1. Section 783 of tlio Itcviscd Laws of Hawaii is
hereby amended to read as follows:
"Section 783. Power nnd authority is given to tho Super
intendent of Public Works, by and with the consent of the
Governor, to enter into contruct with any association of persons
who may associate themselves togethor'uneler tho generul cor
poration law of this Territory, and by tlio general law in rela
tion to corporations nnd subject to all tho provisions thereof and
tho provisions hereinafter contained, for tho purpose of building
and eiporuting a railroad or railroads in any part of this Terri
tory; "Provided, however, it shall bo lawful for any said associa
tion or corporation to issue preferred capital stock, in such
stuns ns may lie necessary, at a prico in tho legal monies of the
United States of America equal to not less than ninety per cent,
of tho face value of such issues; and
"Furthor provided, however, ns a compensation to the pro
moters, organizers, builders nml financiers of any such railroad
or railroads, it shall bo lawful for any said association or cor
poration to issue common capital stock to ,au amount equal to
one-fourth if original issues of preferred capital stock and
bonds combined; and
"Further provided, however, when by tho operations of n
sinking fund any IkjiiiIs, mortgage bonds or record ovidences of
elebt of a capital nature shall liavo been paid aiid cancelled, it
shall bo unlawful for any said association or corporation to issuo
cnpjtal stock of any description to replaeo said above mentioned
"Further provided, however, it shall lie unlawful for any said
association or corporation to pay ilividends in excess of sovpn
per cent, per annum on preferred capital stock and six per cent,
per annum on common capital stock, till dividends to ho non
cumulative! and .
"Further providee), however, it uluill bo lawful to chargo for
two years during construction all tuxes to cost of construction
of 'said railroad or railroads."
Section 2. Section 808 of tho Ilovised Laws of Hawaii is
hereby amended to read as follows:
"Section 808. Any corporation which nmy bo organised
and undertake tho building of tiny ruilroud or railroads, in
pursuance of tho authority of this chapter, and in occordiinco
with it, may issuo bonds to raiso money for tho construction of
Bitch railroad or railroads, in such sums 'os may bo convenient,
hut it shall bo unlawful to issuo said bonds nt a price, in tho
KiilO S1KKS TO
Kohala Member Talks
And Refuses To
Slit I)n) Afternoon Hussion.
Tlii- lava flow still rontliitis to tic
n luirnlrm lump In tli legislature, iitel
KniillKi hi Ik en rnnnliiK around In
circles like ft thicken with the hllml
tfiRgere hi lucmnit of It. That luvn
flow road of hU has been it thorn In
the lloih of thti House ever slucu the
session opened, (or the Rentlciiinii rfum
Kohnla nlwni manages to lirliiR It up
in some forin'br other on all occuhIoiis.
Wednesday the House, HKiiliist Ku
nllio's tearful piotcsts, votid to sus
tain the (lovertiiir's etn of the meas
ure, tho Senate having previously tak
en tho same notion lint jestcrday
nioniluK the Sinuie had a cuniiKe ot
hcait and on lecoinlilerutlon of thu
eto, voted to override It.
Then Knnlho, having thus found an
other pec to haiiK his oratory iijkiii,
moved that tn Hoiisn reconsider the
Dut Kanlho, having voted with the
majority, the olnt of order was raised
thut hu had no right to move a recon
sideration.' Thu point of order Icing very ob
viously well taken, was sustained hy
tho Speaker, .
Kanlho Bald lie, knew It would do
no good to optical to the House.
Hu was Just getting fairly launched
on another flood, of oratory when I'alf
cruelly moved to adjourn. The motion
was not Bccunded, but tho Interruption
guvo Itawllns an opportunity to say
that he saw no -reason for allowlni;
lurther violation of the mles ot the
The Irrepressible Kohula nightingale
refused to be squelched. He appealed
from tie ruling of the clmlr. His op
real was not seconded, but Kanlho did
nut mind a llttlu thing like that. Ho
proceeded blissfully on while tho rest
of tho House sat and laughed at him.
He .talked and talked und talked. It
was after 4 o'clock and Pall was be
ginning lo fidget and Bqulrm in his
seat and still Kunllio talked.
Some of tho members dozed In their
seats. Others read newspapers, bills,
books. The Speaker busied himself in
a bored way with papers on his desk.
And still Kanlho talked.
Finally ho uotuully stopped, and
Kalelopu moved to lay the appeal on
the table. The motion was carried and
Kanlho squelched. Hut Its dollars to
peanuts that lava road will bob up
again In some form before tho session
Sheldon, the Introducer of many
bills, Introduced one during tho after
noon session providing for tho election
of deputy sheriffs and road supervis
ors. Wo had already had one bill before,
the House providing- for the election
of road supervisors, but It was so
badly drawn that when the Judiciary
Committee pointed out that It was
clearly unconstitutional, the House
hastily tabled it.
So Sheldon tried It again, and his
new bill Is Intended to be without thu
defects of Its defunct predecessor. It
will probably meet with vigorous op
position. TRIP TO MOI.OKAI.
Coney, chairman ot the Health Com
mittee, reported, that the Committee
with Its guests would sail on tlio
steamer Kinau for Molokal at 7 o'clock
Kalelopu, for the Lanal Investlga- .
Hon Committee, Informed the House
that tho trip to Lanal was postponed
until next week
Kalelopu Introduce 1 a tesolutlon re
questing tlie Circuit Court of the First
Judicial Circuit to Inform tho House
whether tho Interpreters In Bald court
are citizens of tho United States. The
clerk ot the Houso was authorized to
ftend a certified copy pf the resolution
to tne cierx oi tne judiciary Depart
ment. The Agriculture, Manufactures, For
estry, Promotion and Immigration
Committee notified the House that
Representative A. D. Castro has been
selected as chairman of that commit
tee In place of Representative domes.
Tho commlttci's notification was
placed on file.
UAL MTiTE TRANSACTIONS.
ENTKRED FOR HUCOKD MARCH 27,
FROM If: 30 A. M. to 4 P. M.
Allen & Robinson Ltd to Kckalkul-
hala Mahniilu ot al Rel
Surah K Kay to Stephen Mabaiilu.,Rel
Stephen Maliaiilu and wf et al to Sau
Antonio port Den Soc of II M
W K Nnhulau and wf by mtgco to Tr
of See Dal Do Soc D-
See Dal Do Soc by Tr to See Dal Do
Sec Dal Do Soc to Western & Ilawn
Invst Co Ltd M
M S Orlntaum to Kaeleku Sugar Co
tad .., U
E V a Todd and wf to A B W Todrt. .D
Kapea Knlalkanaha (w) to Fanny
KNTKRED TOR RECORD MAR 28,
FROM 9 A. M. to 10:30 A. .
Manoel R Lucas and wf to Antonio
Antonio 1'avao and wf to Manoel
Clarence O While to M Horlto et al.,L
Mnnoel Tayares and wf to Antonio M
Mnkuu and hsb to Ltlla Poohlnu ....I)
Peruvian Goodness to Quy S dood-
ness et al Re!
Palu (k) to.Aaiia Wharton I)
The Territory Stables Co. are again
at business at their old Btand with u
now manager. Tho best of livery on
hnnd and furnished upon Bhort no
tice. The rare and boarding of horses
guaranteed; to be the best and satisfac
Mlt" 1iL"Mr. 5MJ3v WV ( sf M