HAWAIIAN GAZETTE FRIDAY, DECEMBER - 14, 1917. SEMI-WEEKLY.
HONOLULU STOCK EXCHANGE
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. ' , Honolulu, liecemtvef 14 ItilT.
COMES UPAT TfilAL
Former Ambassador Protested
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EXT YEAR'S CROP
Preliminary Estimates For $hip
. ping Purposes Made At Bad
Time Indicate Shortage
ADVERSE CONDITIONS ' . ' ,
OF SUMMER REFLECTED
Probably thp .Smallest Outturn
Islands Have Known In Past
Six Years of Sugar
. Nit year's sugar crop, will b a
terialljr entailer than tbia year's, sad it
. is probable that it will be the smallest
sine 1910. . This ha been forecast for
the past few month,, ever since the
, drought became' serious oa Maul and
llawsii, bat other Influence have also
been at work and it ia certain that the
crop, as a whole, Is to be a disappoint-
.meet. The shortage has been variously
estimated, sometimes being placed at a
hundred thousand tons below the 1917
cropj and it is even likely that it will
be even smaller than that. . In 1910 the
. outturn was 517,000 tons, and it la net
bqlieved that the production for the
coming year will fall below that figure.
Early Shipping Estlmataa V
1'rellmlaary estimates, made testa
.titcly for the purpose of determining
how much shipping space will be re
quired by the various plantations, are
being sent la to the various agencies by
the managers. These show in various
instances crops far . below , those that
have just been ground. In the in
stances that will be here cited the esti
mates were made at aa - especially bad
time, toward the end of October and be
fore the drought was really broken on
Hawaii and Maui. It is probable,
therefore, that the managers have lean
ed toward the aide of conservatism and
It la likely that in a number of in
stances, providing conditions continue
.favorable from now on, that these early
estimates - will be considerably sur
passed. ;'..- t- : r- ....
Wallnka Loss Wot Big ' . . . '.. v .
,-. ?ports have been current for weeks
past that Wailuku was heavily hit "by
the drought The damage there was
'.variously estimated and generally over
estimated, for the manager gives pre
liminary figures of 12,500 toas, about
500 tons below 1917. .
Hawaii Is Hard Hit
On Hawaii nearly all the estimates
. show smaller crops to bo expected, in
the list that was secured, yesterday
from Brewer A Co. Onomea ia pat at
,17,000 for these- preliminary shipping
arrangements, about 4000 . ton under
the last crop.' ' fepeekeo shows a fall'
ing off of 2000 tons to 8400; Honomu of
100 to 7700 tons; Hawaii Mill, 1100 to
500; Hutchinson, 1000 to flUOO tons;
l'aauhau, adjacent to the; aeverely af
flicted drought districts, falls 4500 tons
to 0200; Hakalau, 2700 tons to 13,400,
and Hilo, 1800 tons to 14,000. ...V
' On -Kauai there is aa estimated fall
ing off at Kailua of 1000 tons to a total
On Maui, Olowslu ia reduced 40 to
ft total of 1700, and on Oahn, Waima
nalo is eut 700 tons t9 4000.
Two Hold Their Own
' Two plantations give the 1917 crop)
as a 1918 estimate Hawaiian Agricul
tural Company and Honolulu Planta
tion 17,000 and 19,000 tons respect
ively. . -
'; These plantation give a fairly gt 1
idea of what may be rxtiected ia the
. way of estimates on next year 'a crop
on plantations in the same districts,
and if the others run along the earns
line an estimated reduction of ft hun
dred thousand tans will be too small.
Here are fourteen plantations which
last year .produced 155,500 tons of
sugar and are expected, on the possibly
, too conservative basis given above, to
produce in the - coming season 23,350
; tons lest than last year.
Others Lose likewise
. There are other plantations that have
been more seriously affected by bad
conditions thsn have these.' Honokaa
. and Pacific Mill are instances of tbia,
ud ia the three upper districts of Ha-
' waii most of the plaatations have been
as' seriously or more seriously damaged
than the plantations on Hawaii men
tinned above in this article.
Tut ia dollars and cents the loss that
lias occurred by reason of the adverse
, conditions of the past season can be
, more clearly seen. At six cent sugar
will mean ft return of 412,000,000 leu
than last year 'a erop would have
brought at the same price.
, , . .
New Sugar Price
llinier Six Cents
Cuban Price With Freight. Insur
ance and Duty Added Is Evi
dently, Basis and Equalization
of Price Goes Forward
Cabled quotations of the price for
Hawaiian sugar received yesterday
morning by the I'lanters' Association
gave the figures as 5.92. Since Amo
ciated Press despatches had told of an
Increase Of ten cents ft hundred in the
wholesale priro of beet sugsr some had
expected that the quotation for Ha
waiian cane raws would be higher. It
is evident, however, that the price of
5.92 was fixed by the sugar commis
sions. In figuring on the newly announced
siigar price it would appear that it has
been arrived at from a. basis previously
announced for Cuban taws. That basis
was 14.60 ft hundred f.o.b. Cuba, thirty
cents for freight and an added cost for
marine insurance. The differential, be
cause of duty is 1.0048 which would
make the cost of niarimi insurance
something less than two rents a hun
dred pounds. .-'
' Here the impression prevails that
there may be some little fluctuations in
price owing to ft varying freight rate
between Cuba and the I'nited States.
Now that freight is figured at a to.,
while ft few months: sgo, when there
were rumors of the submarine warfare
being carried into Atlantic coastwise
waters, the rate was I2. Huch a rate
would make ft difference of thirty cents
a hundred on New York prices for Cu
ban raws and ft consequent stabilizing
rise of the same amount in the price
for Hawaiian raws. v
It is believed here that the reported
ten rents rise in beet sugar is a dis
trict affair, done by the sugar commis
sions ia nn effort a't prire-wualizatiou.
The country was divided into two sones
to bring about this gradual adjUHtment
nil thus far little beet sugar has reach
ed the Eastern none. Home did reach
the New York market ia an effort to
alleviate the sugar famine in the Kast.
As yet but little Cuban sugar has reach
ed the market and the Louisiana crop,
smaller than expected, has been some
what held back also. In the fare of
this, and with no cane competition,
there has been n 'op in the trice' of
reBned ia New York. Eastern- beet
sugar waa somewhat late but ia now
reported as moving and the Cubaa crop
ia exjiected to be moving soon. An ad
justment of ten rents on Eastern beet
would therefore seem to have been a
matter of fairness to briug about a
eloser equalisation of beet and cane
prices in the East.
LAST OF CROP M AY :
WAIT FOR SHIPPING
r v. v -
WHOLESALE PRICE GE
REFINED SUGAR UP
OFFERED FOR SALE
Vessel Now In Port Which Was
Expected To Take Big Cargo
May Be Requisitioned
It now appears possible thst the last
of the 117 crop and the first of the
19IS crop may not leave the Islands
so soon as has been expected. Plans
had been made for the shipment of
7500 tons at an early dnte in a steam
er that is now in port, hnving arrived
with a cargo of coal. This stosmer may
ie utilised in whole or in part by the
government, It WAs learned yesterday.
In consideration of the use of such
steamer, she has been nienfiire.l, at the
request of the government, and the
possibility Of her uel; is still under con
sideration. Shippers yes'erday were
hoping thst at least enough space to
carrj tin rant of the old crop could be
spared in ease the government did find
need of her service.' fhe hud been
sent over with the idea of taking away
a. full cargo- and arrangement made
arrordingly by the shippers.
No more definite information as to
what ' bottoms may be made available
for the movement of the 1918 crop has
been received- locally. The fact that
the government hns recently requisi
tioned ' number of . vessels on arrival
here has not. been encouraging and with
grinding already 'commenced in ft som
ber of mills there has been an increase
in the sense of anxiety which has been
more or less manifest since the com
mandeering of the Matson liners. The
hie and belief still prevails that ways
and menns will be found by the food
administration and the shipping board
but urgent government necessities in
other lines may result in a considerable
delay in the getting away of the crop,
at the outset at least.
Local Refinery Allowed To Raise
Stocks In Stores Njt Affect- ,
ed Are Instructions
It waa rumored along the waterfront
yesterday that the watertender Pioneer,
which ia owned by Haekfeld Co.
is for sale, that firm no longer having
any use for a boat of this kind, having
lost all of its steamer agencies during
the past few months. This formerly
waa one of the busiest craft in the har
bor, for several years ago, Haekfeld &
Co, were agents for the majority of
vessels entering the port.
It was only a few months ago that
the American Hawaiian, which had been
associated with them for a uumber uf
years, opened separate offices up town
and this was followed a short time later
by a severance of business relationa be
tween the Pacific Mail and the Germans
firm. This left them one agency that
of the China Mail, a company with
only one ship, the steamer China. Now
that the business of the China Mail
will in future be handled by Castle ft
Cooke, local Matson and T.K.K. agent .,
it was asserted yesterdsy there waa no
longer need for the old watertender,
which had been serving the steamers
for which they have been agents sj
. Word was received by the Hoaoluld
Elantatiitn Company, by cable; on Wed
nesday thai it anight raise tb price. o
its refined sugar 1 output tea cents a
hundred, from 7.25 to I7..15. At the
same time the company wss instructed
to inform local, wholesalers and retail
ers that this increase on the port of the
local refinery did not permit them to
raise the price of refined stocks whieh
they hud ou hand. As the storks of re
fined sugar heie at the present time
are small, the Islands livinpractically
from hand to mouth in this respect, the
instructions aro of little significance.
TO ERECT BUILDING
. A new concrete damp-proof and fire
proof warehouse Is to be built by the
Hawaiian 'Pineapple company, at an es
timated cost of $100,000 to meet Storage
needs. Plana for the new structure,
which is to be located on ft tract owned
by the company at Iwllel, are now be-
! iug completed and work is to start as
soon the materials are assembled.
The contract has boea-let to the Pacific
Engineering company. The building
will rover little less than aa acre of
ground.. .-' ( "
. It is to meet emergencies that, may be
created by shortage of shlppiug 4u the
coming mouths that the new warehouse
' is designed. ;
The principal business of Major
Francis J. dreed on Maui during his
I recent visit had to do with the regis
tration of Korean children born in the
Islands, this being a sort of "side
lias" taken on at the request of the
Secretary of the Territory. He ar
rived Wednesday night. Thursday
was Thanksgiving. All of Friday, Sat
urday and Monday were put in on
Koreas registration work, and he
caught the Mauna Kea Monday night
Major Green is finding considerable
i Vicnlty in eirryinfc) out the new
difficulty in carrying out the new
regulations concerning the selective
draft on account of the fart of regis
trants being widely scattered.' Legal
and medical advice are both called
for to a greater extent than formerly,
and as the regUtrants would have to
be gathered from the highways and
byways the job is no easy one. Major
Green feels that much hard Work is
still shead of the boards in the rural
The major had just passed through
a period of very strenuous work and
stated before leaving thut his stay on
Maul nus considerably lu the nature
of much needed rest. He loft feel
ing quite rested. Maui News.
Mainlanders Glad Jo Get Com
mon Necessity Now
Hnwuiian products have often been
used us acceptable gifts to friends on
the mainland nt ull seusons of the year
Mini esiiecinlly ut Christmas-time. Pines,
fresh, candied, preserved, spiced and
I pickled, guan .icily, bunrhes of ban
( s. hum and a dozen other products might
I. c mentioned, but never lietore tuts
cur, prubnbly, hits sugar been consid
ered tine of the best gifts thnt could be
sent to friends on the Atlantic sea
Imard. Plain, everyday, stable sugar,
II ommouest product of the Islands,
Ii:h I. eon sent iu u number of instances
I') relatives and friends in Boston, New
Y.irL and Philadelphia, and smaller
tities in the vicinity.
I x press rates or even parcel post
nilei would ordinarily lie considered
too h!h to nuiTHot the sending of
sugar, that household necessity, such a
distance. The cost of transportation
wuuld exceed the cost of the article,
hut this year sugar is not only sugar ou
the itiaiulund it is scarce. Not only
has it been high but it was almost im-
I pof.sible to obtain st any price.
When this condition became known
in itonoiuiu Jiot H lew iuur me vfjv -
tnnity to send opportune gifts in ad
vance of Christmas and their gifts
proved mighty acceptable.
FREIGHT CAR SHORTAGE
Reports from Chirago regarding the
supply of ears to transport sugar are
not at all encouraging. The railroad
equipment needed is t0 percent shy,
only 10 txtrrent of the needed ears be
ing' availuhle. The California -Hawaiian
Hugar Betlnery got a large number
of I'tirs from the Atchison Topeka and
Hants Fe Uailroad, but that supply has
also been shut off and the Southern
Pacific is unable to supply cars. Cars
going Kast are help up on aecount of
the congestion of freight everywhere
ami there seems to be no immediate
COMPANY C-VfERS BONUS
HAN JUAN, Porto Hieo, November
14 Tin. htouth I'orto Kiro Hugar Com
paiiv, ftb'.rh operates Ounjiira and For
turn, .-entruls and Bussed and Com
pany, announces that it will pay its
i uiploycs a bonus of 15 percent of their
wages or salaries for the year ending
next .lune iu the event that no delay
to the company's operations are eaus
ed l.v strikes during that ieriod. A
bonus of the same amount was puid by
I he company for the past year.
AUSTRALIAN BEET .
Rapid Progress Is Now Being
Made Following Years ot Dis-;
couragement In Past
By AMBROSE PEATT
I (In Pacta About Sugar) .'
MKI.BOURNK, Australia, .October 1
The first attempt to establish the
beet sugar industry in Australia dates
bock to 1AIKI, when the Government of
Victoria was induced, at the instance
of a press campaign, to endeavor to
make that state independent of import
ed, supplies of cane sugar. Victorian
farmers, however, proved very loth to
undertake cultivation of beets, and it
was not until 1897 that' the movement
made any headway, ' In that year ft
number of farmers in the Maffr dis
trict formed . cooperative " company
and,' having ; been - subsidized by the
government to the extent of two
poanda sterling for every one pound
subscribed by shareholders, erected
factory for making sugar from beets at
cost of aeverrty thousand pounds. ,i
First Attempt ft FftUnro
. The company carried on : operations
for two years, but owing to a variety of
adverse conditions it waa closed down
and the eovernment entered into pos
session of the factory ; and plant as
mortgagee. From 1WH) to 1909 the fac
tory remnined closed, the government
of Victoria confining ita efforts In the
meanwhile to purely experimental agri
cultural work. At the end of the period
named .the farmers of the Maffra dis
trict .were ' sufficiently ' educated as to
the advantage of beet growing to jus
tify the- reopening of the factory. ' The
government thereupon caused the whole
plant to be overhauled aad modernised
and procured the services' as factorf
manager! of ft most capable American
beet augar man, G. 8. Dyer, whose fam
ily has been honorably connected with
the industry in America ever since Its
The first campaign was started nnder
Mr. Dyer's management in April,-1911,
and It successfully demonstrated that
beets, can be grown commercially and
profitably b'y Victorian farmers and
that n standard marketable sugar of
high quality could be manufactured at
a profit at the government rate. Most
of the grower realized handsome pro
fit, aftor paying U expenses. The
sugar ' prodrrred commanded a higher
price than MX cfttie suga placed on the
V ictorian market. The area under erop
in 1911 was only 458 acres. . ,
Awakening Takes Place
In the following year 752 acres were
planted end since thst year the area
planted hss increased annually by
about 100 acres. The tardiness with
which the industry has developed is at
tributed to the extremely conservative
temprrnm.-r.i of tho Victorian farm.ir,
vihicb forbids him engaging -in any en
terprise v. ith which he ia not perfestly
familiar mid makes him stubbornly re
luctant to receive instructions. Dur
ing the last couple of yeara, however,
there has been a noticeable awakening,
nnd not merely in the Maffra, district
but in all parts of Victoria the farmers
are showing themselves anxious to un
dertake the cultivation of beeta. Their
increased interest is due to the success
of the two last Maffra crops.
In 1915 there were produced in Maf
fra 14,400 tons from 1200 acres sown,
and most of the farmers made very
handsome profits. In 1910, more than
15,130 tons of boets were put through
the factory from the same acreage,
from which about 18S9 tons of refined
sugar were manufactured. The sugar
content of the beets exceeded 12.6 per
cent. Tho gross factory profit on the
year's working wns 15,000; and there
was net profit of 8000, after payiug
interest ou all capital charges and
working and manufacturing costs. The
price paid for the beets to farmers was
20,280. Manufacturing charges ab
sorbed 15,000 and factory repairs and
discounts accounted for 2200.
Prospects for the coming season are
highly favorable, but unfortunately the
area planted will not exceed that of last
year, owing to governmental lack, of
foresight iu procuring aeod. Had suf
ficient seed been available, the plant
ing for the next season probably would
have exceeded 5000 acres. The Vic
torian Government obtaina ita aeed sup
plies chiefly from Europe and acta a
sole supplier to the producers. With
lamentable shortsightedness it failed
last year to order reasonably increased
quantities in advance. The consequence
was it was obliged to disappoint the
expectations of numerous new and old
customers, and by the time it waa
able to announce that aeed was on the
way and already outside of the sub
marine danger cone, score of farmers
bad already devoted their land to other
purpose. ; imnJI
tiucu a setback is unlikely to occur
again. The sugar beet industry has
taken an inconceivable time to ''catch
on" In Australia, but it may be confi
dently said that ita future- ia now a
rure. It is rapidly growing in' popu
larity and it ia no longer a, novelty.
Moreover the primary producers of Vic
toria have at .length, become onvine,ed
that they can secure better all round
returns front beet growing than from
any tit her crop, despite the extra cost
and enre demanded by the cultivation
of the beets.
MORE MONEY RECEIVED
FOR BAT AND BALL FUND
William Murray, postmaster at Ewa,
this island, sent in yesterday to The
Advertiser ft check for twelve dollar
and seventy-flvo cents collected there
from among forty-one fan for the
Clink (!. Griffith Kall aitd Bat-Fund
for the American soldier- boys? in
Kuropc. Kwa expect to bs heard from
further iu this regard. ,
No Protests From'
Labor Oii New
Bonus Arc Heard
Saving Does Not- Amount .To
- Nearly As Much As Will the In
creased Cost of . Freight To
San Francisco Alone ;
No protects against tb new . bonus
system announced by . the Hawaiian
Hugar Plantera' Association last, week
have been received by that body un
less the editorial comment of the Jap
anese paper be considered in the na
ture of the protest. Plantation agencie
say that - ao unfavorable . comment
have come to them from the plantation
It was expected that the action of
the aasoriation would eause disappoint
ment and it is still expected that it
will, but the announcement of tbe
lower price of sugar and of the in
creases in freight rate came st
time that made the mora significant
and convincing the reasons which the
association gave for its action.
Trustees Take Action '
-The action of the augar planter fol
lowed the executive session of the first
afternoon of the meeting when trustees
and plantation managera discussed the
labor and wage, situation. - No com
mittee wa named at that time other
than tbe whole board of trustees and
A. Wt T., Bottomiey, mentioned ftl
chairman of that committee, hal no
more to do with the formulating of
the new plans than had any of the
other trustees, despite tbe credit that
was given to him, : . i
; When the trustee decided Upon the
method that was employed it was their
effort not to make any reduction that
would affect 'the monthly receipts of
the laborers so that they would feel
the cost or living more than formerly.
This was brought about by letting tk
reduction, which waa inevitable if some
of thet plantationa were to continue,
Come at the end of the bonus yeat
only. They were still to receive their
monthly earnings and the lidded thirty-three
percent of that amount each
month, assuring them of a third more
wage than they were paid before the
war.' . .' - ' V i
. The reduction which come at the
end of the year amount to twenty-one
percent, the incf-eased .basis being ilA
s ton in the sugar price and the bonus
being one and half percent on each
dollar anerease in price over too mini
Does Not Pay Freight
r ' It has beea estimated that the bonus
paid this year will approach 7,000,000
so that the saving another year should
net about ftl,4(KljK)0. Thje increase
in freight, figuring that the whole of
next year's crop be sent to San Fran
cisco, which will not be the . case,
will amount to 12,000,000 so that
it is . evident that the eut in
tbe bonus will not .begin Ho make
up for the increased freight rate alone,
not taking ito consideration the other
increases' in costs of production.
After February, most of the. New
Tork sugar will go by rail from Kan
Francisco and it is expected by that
time an increase of fifteen percent will
have been allowed tbe railroads which
will bring the freight between1 Hono
lulu and New York up to $20.80 with
a sixty-two cent bill- of lading tax
added, as against $9.50 by water, at
the present time. That is each
ton of sugar sent to New York in that
n ay after February will cost ' the
planters here fll.12 moro than have
shipments to New York by way of the
canui uuung the past year.
.i.e. i ,- , , . '
' Vigorously Against Seizure
' of Annie Larsen
SAtf FBANC1SOO, December 14-i-
(Aaaociatei, Pre)HCouot iton Bern-
storffts name was brought up at the
trial of the Hindu conspiracy case yes
terday Id an effort by the prosecution
ts show ft dlreet knowledge of and to-'
nectlon with the plot and the alleged
plotters on the part of the Oermaa gov'
ernment. ' Documentary' evidence was
produced to show that the then Oermaa
smbaasador had sent letters to Secre
tary Lanaing, ' protesting -vigorously
against the seisure of the Anale tar
son and the sequestration of tho msni
Hons -which were found to b her cargo.
In this connection the prosecution in
troduced this sod other evidence to di
rectly connect up the Annie Larisn
with the alleged conspiracy to foment
ft rebellion in India and with, th revolt
report that it is charged were being
insistently spread through German influence.
BELIEVES IMPORTS OF
. . .
SUGAR WILL CEASE
Representative of Food Adminis
tration Is Optimistic
Few if . any. import of refined
sugar from tbe mainland to the Island
iu the coming year is the promise re
ceotly made' by J. Fi Child, representa
tive of the food administration in Ha
waii. He claims that recent imports
were made as the result of mistake
aud will not occur again.
It is the opinion of Mr., Child that
national price; fixing ia sugar will re
suit in the ending of imports here pf
refined sugar and of much of the ex
ports made in the past. He expect to
see tiie Islund niu.de refined supply tbe
Island markets. In bis opinion it was
the fluctuating price of sugar 'that
mad profitable shipments from here
rather than sale at home. There would
be times, he said, when the market was
higher on the mainland for refined
than here. The local producer might
then take advantage, of that higher
market. Ou the other hand, there
would. be time, when a, sudden slump
in sugar price on the mainland would
permit the wholesale grocer here- to
make a purchase there for a shipment
here aa required later and thus to ben
cf'it, despite the freight rates.
While the representative of the food
administration admits that tba space
used in the past for sugar imports
could now be better utilised for Im
ports that are really necessary be is in
clined to minimise the ' necessity by
Nityiitg that such imports have not been
large. As a matter of fuct, suar and
entiily imports have been nut far from
hnir a million pounds. He does not. be
lieve, he says, that it will bs ne'e ansa ry
to plttce uu embargo against sugsr im-
pot tS. . ' .
"VE ARE READY," IS .
. ; . , (jj'f idle " T' " ' "
(Concluded from Pg 11
nlorlty be abandoned, "from admiral
to ensicn. " - H recommends that the
selective system now be extended to
the staff as well a th line. - He also
exprease the conviction that every ran
didato for. admission , to ' the Naval
Academy should be compelled to nerve
s year before the mast as an enlisted
man Before -entering the school. - .
Eolations Wltk Our Allies . -
Ths . report declares that the inter
ehsnges between ths naval services of
ths Allied powers- and the Navy have
addinar that this partnership of denro-
cratie natiena will yet "insure a last lag
peace.". It says that whea ts can
came, the Navy' Supplied gunners sad
rout for merchant craft without an
hour's dell. V. r : .
T s report, touches on the various
naval conference attended by Amen
can officers but adds nothing to-what
is known of ,th quetrtioas taksa up or
decisions reached.' Throughout .- the
lenirthv document the secretary is care
ful to avoid any statement that might
be of service to an; enemy. v-.
Th secretary sys tribute to the
Marine Corps which has lived up to its
best traditions, , h says., ft. wlU be
shown when- th war is over. ; The ma
rine regiment in Francs, he say, wiU
soon be considerably sugtaentsd ia its
service with General Pershing's army,
Development of naval aircraft has
been remarkable, th secretary aay, due
largely to the auceess of the Liberty
motor. .".. " j :' .. .' ' .-: ''
, "It may bs stated with confidence,''
he ssys, "that at th present moment
we have an American flying boat. ac
tually flying with, an American engine
which Is unexcelled by any f oreiga
eraft of tbe tVP.''-
The eecrctarv discloses the fact that
American coast patrol stations have
been authorized abroad aad win be in
operation next year, but give no de
tails. ' '
:, In. conclusion, Mr., Daniel picture
the possibility of an international navy
to -keep the world peace. Such an
agreement cannot be cherished now, he
ay, -that all the world is St. war. -"Bnt
if this condition-could not be
reached in time of peace," he adds,
"may w eot believe that it will be
on of the compensations for tho rcr
rible tragedy of wart'
Be a Polics Pore.
Each naval power ahould assign units
to th international fore in rtroportion
to its wealth and population, the' sec
retary suecests. adding:-
"To auch a police of the sea this
country will be ready to. make ruu eon
tribution, and to that end th xpan
ion that now crowd all the old and
Jiew shipbuilding resources .will, .soon
inlace this country in a position to iur
nish aa many and as powerful ships as
will eome rrom any otssr country, u
would be a lasting calamity if, when
this war ends, t her ahould linger aa a
burden upon, a people,, already heavily
taxed by war ft ompetitlv -program
of. costly naval? construction, , Thin
country will, no doubt taka its proper
place ia bringing ahout. such, provisions
in th peace treaties ss will nevsr again
constrain any nation to adapt its naval
program to the program of aome other
nation rrom whlcn mere is tne com
nelline mensce of possibl and unpro
yoked attack. Buck compulsion Is the
vry negative of natural and orderly
naval development, it means- the ty
ranny of a program dictated by appre
hension rather than the free ehois of
standard suggested by national. needs
and supported by national ideal. An
international. nvy, ou ths contrary,
will make, possible such naval develop
men as each nation deems fitting for
its own people. It will also serve "ths
parliament- of man " by 'providing
- naval fore ample enough to give valid
ity ta international decree and strong
enough -to keep inviolate the peace of
san Francisco quotations
' HAS pHANCIfM'tV lJeeeitiber 1 t-i AWso
Hittad l'rwH) Following arir th oprnlus
and closing quotations of sugsr snd other
stocks la tiis Baa rancisco marssi raw
IV-Brewer, to. .......
kws I'tsntatton' Coi-'.; ..
Hntku Hug. (Jo. .
Haw.. Agretl. Co. . .....
Haw. C. A H. Co.. . ......
law. Kits. o. . .
Ilonoksa Hngsr t'O. .....
Itnttoinn Sttf . ' Co. ......
lintcmnsnn nugsr 1: 1..
Kslmkii limit, t o. . ....
Keksha htmsr Co.
Knlna Kitritf l'th t ......
McHrytie rtitg. AO VW..
(shn Hug. W . ....... .
plsa Bug. (D., Ltd... ...
OnmiV' Hug. Co. .
I'sstthsd ttiKSr Plant. Co.
Purine singar Mill . ,1...
Psla llsut. f'o. .- .......
Pioneer Mill Co.- . ......
Hun t's rifts Milling Co. ...
walnltta Agrctl. to. ...
Wslluku, Hugsr Co. .....
Bndsn Development Co. .
1st issue Ahmss w, I'd.
!2nt IsHiie I'ald ft) . . .
Ifalk K. A P. Co., Pfd..
llslku r. aV P. Co.. Com.
Isw. Con. nr. la A
llsw. Con. Hy. yr B .;.
Ilsw. .Con . Rv. Cum. ....
IU walls d Kleetrle Co, ...
llsw. riiiesit)e Co... .,.
lion, n. a M. Co., Ltd...
linn. Oss Ltd. .....
Hon. It, T. A L. Co. ....
Inter Wand H. N. C. ...
Mnt. Tel. Co. . .........
OmIio Railway A I.. Co...
i-snsng- mil. tier to, , ...
ftelama-rMmllUKS, Pd. . .
Sams HO fvf)
Tsnjong Olak Iluhher Co.
liar's 4'oiu't vtugar .
HawaUas fttigar Co. .
Iliitchlusou Kugsr Co.
Kllauea - '. . ,
t tab 11 Hugar Co. ,. ... .
filnn Hugar Co.. , ....
Onomea Hugsr Co. . .
Ptisulisii ftngsr Co. , ,
rlsgel tipiM-rt.- ......
Honolulu I'lsntstluu ,
Reset! Walk t. ti.
nimin wim w., os. .
Haw. rn. uj: &u
Hsw. Irr. Co., fla
Haw. Ter. 4 Rf. IfaKt
nsw Ter. Puh. Imps.
Haw. Ter. Pnh, Imp. 4
(series 1(113 11S) .....T
iiiin ihi q a., i.in. tr ..
Hohnksa Hug. o., ..
Honolulu Oaa Co., Ltd. 5a
Kauai Hy. Co., 8a .......
Mnnos Imp. ntst. t.
aicnrvoe nngsr l., OS
Mutual Tel. Oa . ....
Oatia H. ft I,. Co..' b
Osha, Hug. Co., 0 ..
(Has Bits. Co- 8" ...
Pacific Uuano A F. Co., UI
PscltHr Hngar MM Co.. 0a
Ma Carlos MU1. Co.,
4 I . SJ
: : BETWEEN BOARDS
WsImIus. SO. 40, 85. 15, 14. 82.25 Onhn,
10, , K.1'3: II. C. ft H. Co.. 11, 40.00.
BOARD SALES .
Hiv'a Pines, S, 41.50.
. . SUGAR QUOTATIONS
t 11 intT
H analysts beet (no sdvlces).
Cent. (For Hawaiian) Sugars ...3.P2
V UUSOS SJaVVAaasAftWat -
''fc' ' '. - : ; , .December 4; tnit. ;
pingsporc M. i. .
New iork . 00 00
... a -ainiai 1 it -
: UNLISTED SECURITIES 1
. Honolulu, peeeuilter l.'l. 11117.
-. ? ... 2" . tr TT'
. ITOOX. '
. ' - - - ' '
OIL ' .
Hon. Con. OU ...... 4.00 4.8U 4T3
, MININQ ', .
Ehgels Coitper . . . . . . 4.50 4.IW 4.110.
Mineral 1'roiliicts . . .10 .12 .11
Mountain King . ... .00 M m
Mantsus Bingham . . .44 ,47 .47
Matters Mining .... XI f .:ui . .
Honolulu OH, X. 4. NO; Muilcra Uold,
lftO, 2c. i
- i - -r
NEW YORK STOCKS
KKW YORK, Iletreiulmr II (By Asso
ciated t'resM) Followliig are the opening
aud clmilng quotations of stocks iu the
iNew inn inaract jeMienia.
Anierl. Hit Hucur Co. .
Alaska tiolil .
American l.iK-oinotlvc .
Aitiarli-au Tel. Tel.'.
AiiM-tii-au SiiHMtcr . ..
American Mteot Ktlry. .
Auacowl Conner . ...
Atchlwiu Hallway . . . .
Bulilwln ln-oniotlve .
Baltimore tc Ohio . ...
Bethlehem Hteel -II" .
California Petroleum .
Ceutml Lesther . .....
Canadian I'sclile ,
C. M. ac Ht. Paul
Colo. Fuel Iruu . ...
( rue II ile Hteel
Cnlia Hugar Csite
Erie common . .
Oeuersl Kleetrle . . . , .
Oeneral Motors nen) ,
Great Northern pftl. .
Iiiternatkiual Mi kle . .
IiitliiHtrlHl Alcohol , ...
International Palter .
Lehigh Valley Itailroud
New Vork Central . , .
PenSsylvaiita . ' . . , .
Kay Consolidated , ...
Heading common ......
Repatilic Iron coutimni
Hout Iters Paclrtc . ... ..
Teiaa tMI -. -
I'nited Htates Hutilter .
f'nlon Pacific -. . . .....
United HUtea Hteel . .
Weatlugbouse . .......
; NEW YORK CURB STOCKS
Quotations en the following New York
curb stocks,- as wlrelesaed to Ths Adrer
tlaer by Stonaham A Co., are:
Bid. tB pivkleaed. tUotJuoted.
" ' ' risv tlay
Big Ttlge l..K 1..K1-
CslSiKmls - .4.1 .12 .
Ktntiia Copper :nl .S7
Hargrsres . .0X .0S
Irani BIonmiiii .Ml .17
Jerome Vertle 5014 Mhi
Jim. Butler . t:t .74
ltvh .- Ill .01
Mother I.ode . , 2T .27
pay rien-uiea ,i.ija o-"r .
Riwcue Kitla , .OH .l'4
I'nim. . Ill .10
HUver King 4'i.ns v... S.H. .
Touopsh Kxlennlon ....... .75 .HI Vi
Tnoluume . , 1 IH"V1 1 12M,
A'Uhert . Id -JTV4
Ult-binond Copper . 25 .5
Kerr UK ." ,
llttcls . :', 4.75 4 l '4
Crsiwoii 2uid . 4 75 4..a
Mppisslns . 8.1214 8
M Ida eat Oil, Couuiuu U -of
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