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j lMjy. , " f ' - HONOLULU STAB-BULLETiy; MONDAY, DECEMBER 31, 1917. ;
f Bank of Honolulu Ltd. Fort Street, near Queen - - jm. yiy i i i if i IlilrflflWinniT Hin h -i Hnnnlnln Stnfck Fxchanne OniniTm ninnilTP CANADIAN WAR IS- , 4k. III I lllltl K. II I H mm I II 1 i vmvimim vwV ' - ' . m M I I I I I I III I I (( ft r ni ibnuN anu PAAUHAU REDUCE 1918 DIVIDENDS Paaubau and Hutchinson Sugar Companies have cut their monthl dlridends (or 1918 according to. a let ter from San Frsncisco which has bees received by shareholders In botii companies here from President John Buck of the two concerns. Hutch inson's monthly dividend has been re duced from 30 to 20 cents a month and Paaubau has cut from 30 to 13 cents. The nw rates become effective January 6. 1918. j " The physical condition of both com ? panles is reported excellent and stockbolderfire Informed that furtb- . r disbursements in the form or ex tra divldeoM will be made If condi tions warrant them. The letter to tlockholders In both companies fol lows: ' The year of 1917 has been a period of extreme uncertainty and readjust ment in Joe business world, and in no line of. endeavor has the departure from normal standards been more marked than In the sugar industry. "Startittf with a price comparatively low, the tendency was, except for a period of recession in the middle of the year, uniformly upward, as it be- came "Increasingly evident that the V current Cubans crop was not equal to "Vthe demands made upon it. K -On October I, 1917, the food ad : xni&lstrator intervened, and the re ; cent chaotic condition in sugar re sulted. The food, administration still exercises control over the industry and will during the duration of the . war. The price which this company - will receive for its 1918 crop will be dependent upon the price to be fixed I It the food administrator, j . In addition to the" uncerUinty "of j irlce,5 you ' have been Informed v through the public press that the Ha , wailan islands - experienced ' during ' ' 1917 a drought of considerable sever ! ity, affecting some districts to a ! greater degree than, others. The et fsct ct this dry spell cannot be proper j Ij- determined until harvesting has commenced and the sugar count of ; the case established beyond question. "In addition to the conditions men tioned above, your company, In com mon with all other Hawaiian planta I tlcns. finds itself; confronted; with an .Increased production cost due to ad vanced prices in, all lines of material i as well as a substantial increase in ! ocean freights. The federal war in s cme asd excess profits taxes will al so have to be reckoned - with. The amount due for these taxes is estimat ed Aa be equivalent to a dividend of - between 5 and 10 cents per share per month, -y : '"' :;v.'.:'--....;..'..;.' 'AfttrH: Consideration of the con . d! tiers your directors, bellevlns; - x that policy of conservatism should denJstte the conduct of this com pany's affairs at this .time,; have adopted a dividend rate of. 15 cents ' per share, payable on January 5, 1918. and cn the fifth day of each succeed ing month, thereafter, unUl further ' -.ctice. - " - . ' ' "The physical condition of the com panies' properties is excellent, and as conditions shall warrant further dls- - tun stents will be made in the form ct extra dividends ' " - SLOGAN .Ui .ILL FOaTAXPAYEBS V7ASinNGTON.--3rudglng taxpay trs should be few and very unpopular during the next six months, accord ing to plans formulated by . Internal revenue Commissioner Roaer for col . lectlcn of about X3,000,000,od0 ao-cnlled Liberty taxes from more than 7.000. CC3 persons before next Jaly 1. . rSniile when yon pay your income tx;. It means a tear for the kaiser--I is is one of the representative ak tans which probably win be adopted in a nation-wide campaign to promote a patriotic flrit among : taxpayers, most of whom will be subjected to a direct federal tax for the first time. Surrestlons "for other slogans are solicited. Here are two already re ceived: Liberty tax or war indemnity Which would yon rather pay?, Think cf this when making out your Income ' tax- return- ; ' ' t . , ."Every dollar of your Income tax roes to the boys in the trenches. Help them to early victory." Letters were sent to every advertis ing club today bj Commissioner Roper astir" their cooperation. Advertisers s.tci-J7 be asked to insert these suc cinct tax sermons' in their 'published dlEjlaya. The campaign is in charge cf C B. Horrey, . supervisor of busi ness cooperation -for the, revenue ; bu reau. ' - ' vV v.'-''- t - v i ' Every county eeat or ; other . im portant communitywlll Ttj rlsited dur ing January and February by field of ficers of the revenue service, whcrwill aid Individuals in making , out their tax returns. GRAND OPEfJING AT M0ANA c'lg tonight at Moana ainond Head wing, spe- f w - - . . Axrt rvtr, news u iw . s t Jtvi(tnnBi an1 tn ' fcpfmai must; uui vuu.M .iUUscIrg later; ,v i-V - rr Ouf friends and patrons, the army t-d navy and the public generally are ror,'?:iv invited to attend. Adv. . . J WEEKLY PRODUCE REPORT By A. T. L0NGLEY, Marketing Superintendent. ISSUED BY THE TERRITORIAL MARKETING DIVISION FOR WEEK ENDING DEC. 28. Practically no change has been made in the market prices during the past wee. The most important sales were In turkey, chickens, and duck ued for the holidays. The shipments of turkeys received before Christmas were greatly in excess of the ship ments received at Thanksgiving. 1-arge shipments of beans are still being received from Maui tnd unless the sales increase, it will take three to four months to dispose of the crop. And rather than have their beans held here that lon, in all prob ability the farmers will demand that their beans be shipped to the coast In this event a shortage in the bean market will soon follow and with a WHOLESALE. Small consumers cannot uy at theso prices Island butter, lb 50 Hens, lb 35 to .37 Eggs, select,, dozen 75 Turkeys, lb 40 to . 4 2 1 i Egs. No. 1, dozen 73 Ducks, Muse, lb 28 to .30 Eggs, duck, dozen 60 Ducks, Pekin, lb 28 to .30 Young roosters, lb 43 to .47 Ducks, Haw., dozen 6.75 VEGETABLES. Beans, string, green 03 to .03Vs Rice, Haw. seed v 6.90 Beans, string, wsx 03 to .04 Peanuts, lg., lb .' 06 to .07 Beans, Lima In pod 03 Vz to .04 Green peppers, bell 07 Beans, Maui red 8.00 to 8.50 Green peppers, chili 06 Beans, calico 10.00 to 10.50 Potatoes, Island. Irish 2.00 Beans, 'small, white 12.00 to 12.50 Potatoes, sweet 90 to 1.00 naatl HnTon hnnrhf 50 Pntitnci awaot raA 1 fi( in 11 Barron, aozeu uuncnes u xaro, cwi 1.10 Cabbage, cwt. 2.50 to 3.00 Taro, bunch 15 Corn, sweet, 100 ears 2.50 TJomatoes 05 to .06 Corn, Haw., sm., yel 75.00 to 80.00 Cucumbers, dozen 35 to .50 Corn, Haw., lg., yel 72.00 to 75.00 Pumpkins, lb 02 to .02 FRUIT. Bananas, Chinese, bch 30 to .50 Pineapples, cwt 1.50 Bananas, cooking bch 1.25 Papalas, lb .02 to .02 Vi Figs, 100 1.00 Strawberries 25 Grapes, Isabella,' lb 07 Island oranges, 100 1.00 to 1.25 Limes, 100 None LIVESTOCK. , Cattle and sheep are not bought at live weight They are slaughtered and paid for on a dressed weight basis. Hogs up 150 pounds 14 to .16 DRESSED MEATS. Beef, dressed, lb 15 to .16 Mutton, dressed, lb 18 to .19 Veal, dressed, lb 15 to .16 Pork, dressed, lb 16 to .21 HIDES (WET SALTED) Steer, No. 1, lb. 18 Kips, lb 18 Steer, No. 2, lb 16 Goat, white, each 20 to .30 Steer, hair slip 16 FEED. . The following are price on feed, f. o. b. Honolulu: Corn, snu, yeC ton ............None Oats, ton 71.00 Corn, lg., yel, ton 80.00 to 86.50 Wheat, ton 94.00 to 95.00 Corn, cracked, ton ..... 85.00 to 89.00 Middling, ton 69.00 to 70.00 Bran, ton 57.00 Hay, wheat, ton 48.00 to 54.00 Barley, ton 68.00 Hay, alfalfa, ton 47.00 to 48.00 Scratch food 80.00 to 92.00 nm botes 8UGAR STOCKS Considering the fact that daring the past : month u number of woild-wide events have taken flace which might have affected the prices, linral sugar stocks have shown a solidity and fit ni nes that can only te accountnd by the fact that local investors are not plunging or raidlog, but'bayms and selling 4 with, care. A O NO ME A'S STANDING Onomea Sugar Company's entire crop of 21,022 rons Las been tent abroad and 43 tons have been sold here. The total estimated credit of the company is $767,384.04. . WORLD CROPS - International lnatltato of Agricul ture at Rome fiax-complled estimates of world crops, which show increased production r of .com. oats, potatoes, rice, sugar beeU and tobacco. Flax seed, rye, barley and wheat fall lolow five-year average of years 1911 -IS. Wheat produced in 17 countries, not including Cental Powers, Is S6.6 per cent, of five-year nverages, flaxseed 69.8 per cent, rye 92.2 ?er cnt, bar ley 96 per cent; ts 113.9 per cent, rice 115.5 per wnt. potatoes 112.4 ter cent, sugar beeta per cent. Corn production is esUmrjed to be 14.1 pef cent more than five-year avorage, R. R. EARNINGS SMALLER October report! from j76 big Amer ican railroads show net earnings after Uxea of $96 31. 733. This is a decrease of $13,710,10 under the cor responding figures for October, 1915. ANACONDA COPPER A Butte despatch says that the Ana conda Copper Company, is rushing the erection of Its-new copper wire plant at Great Falls, Mont. The plant will be ready next pring and it is expected that the company will next erect a brass works. The capacity of tht company's sine smelter is being in creased S3 1-3 'per cent, or to 8,000,000 pounds of spelter monthly. FIRE LOSSES , Fire losses for 1917 have been ex ceptionally heavy and it is probable that the end of the year will see a total of $275,000,000. This will repre sent the largest total with one excep tion that has ever been reported, the exception being 1906, the year of the San Francisco fire. WAR AND INDUSTRY Investigation of 13 industries by the department of labor in September shows Increase in number of em ployes in seven Industries and a de crease in six. Industries showing de crease were car building, boots and shoes. -cotton manufacturing, cotton finishing," silk and cigar manufactur ing. Increases were found in making of hosiery and v underwear, woolen lack of bottoms and the increased freight rates, the people of Honolulu' will find themgelves paying a great ( deal more for imported beans thai) they are now able to buy the local1 product for. The division i trying to'induce the restaurants rf the city to u?e local; beans entirely and fo far have been, fairly successful. 1 We are receiving small shipments1 of white sweet potatoes which are1 very good and selling as low as $1.15. a hundred. These same potatoes are being sold in Honolulu from that price, up to $1.50 a hundred wholesale. j Kggs and poultry have remained ; the same with the exception of hens which dropped two cents a pound. goods, iron and steel, automobiles, leather and paper, Largest Increase was 10.6 per cent, which was in mauu faeture of men's ready-mde clothing, and was due to supplying uniforms for the new armies. ACCEPTANCE RATES RAISED Directors of the Federal Reserve Bank of New York announced that they have established a minimum rate of 3 per cent and a maximum of 4Va per cent for the purchase of accept ances in the open market. The rates heretofore prevailing 'have ranged from IVx to 4 per cent. TRADE WAR Secretary of Commerce Redfield predicts that German business will try to gain trade after the war by craft, energy and application. He ad vises study of German trade theories and of "the artful and formidable or ganisation that, with government aid at every turn, has been built up in Germany during the last 20 years to dominate the world markets." TRADE ACCEPTANCE Federal Reserve system has made use of the trade acceptance for do mestic exchanges practicable and Bafe. Trade acceptances have been ta use for a long time In England, wheie they hae proved valuable for facili tating trade and strengthening credit. NEW SILVER The new 25-cent pieces in circula tion since August have caused so much inquiry as to their genuineness that the director of the mint has announced that a slight change in design was made to improve the beauty and stacking qualities of the coins. On the face of the quarters draperies of the Goddess of Liberty have been re arranged and on the reverse the flying eagle has been placed higher with three stars beneath. MORGAN OFFERING J. P. Morgan & Co. are offering $15, 000,000 British treasury ninety-day bills on a 6 per cent discount basi3. This Is the same interest rate carried by the three previous offerings. BONDS ASSESSABLE In -an assessment appeal at Toronto the courts ruled definitely that Domlu Ion war bonds are assessable for mu nicipal taxes. SYSTEM GAINS Gains of $20,400,000 In gold reserve and $21,900,000 in total cash reserve, together with Increases of $54,200,000 In investments and of $31,800,000 in net deposits, were indicated by the weekly bank statements issued by the Federal Reserve Board at the close of business on Nov. 23, 1917. . MERCANTILE Alexander &. Baldwin ... C. Brewer &. Co. SUGAR Ewa Plantation Co. Haiku Sugar Co Hawaiian Agr. Co Hawn. Com. & Sugar Co. Hawaiian Sugar Co. , . . . . Honokaa Sugar Co. Honomu Sugar Co Hutchinson Sugar Plant. Kahuku Plant. Co Kekaha Sugar Co Koloa Sugar Co McBryde Sugar Co., Ltd. . Oahu Sugar Co Olaa Sugar Co., Ltd 280 460 28 29 150 160 35 40 j 40'4 ! 30' 2 32 44 30 40 I 25 17 19V 15 , 150 175 j 8 8'V 30 5 5'4J 46 50 ..... 23 7 10 150 160 36 29: 2 30 18 19 23' 2 24' 2 25 35 Onomea Sugar Co. . . Paaubau Sugar Plant. Co. Pacific Sugar Mill Paia Plantation Co Pepeekeo Sugar Co Pioneer Mill Co San Carlos Milling Co... Waialua Agr. Co. ........ Wailuku Sugar Co. ' MISCELLANEOUS Endau Dsveloplng Co. ... 1st Is. Assess. 7 pc. Pd. 2nd Issue Paid-up Haiku Fruit & Pack., Pfd. Haiku Fruit & Pack., Com Hawaii Con. Ry. 7 pc. A. Hawaii Con. Ry. 6 pc. B. Hawaii Con. Ry. Com Hawaiian Electric Co. . . . Hawaiian Pineapple Co.. Hon. Brew. & Malt. Co.. Honolulu Gas Co., Ltd... Honolulu R. T. & L. Co.. Inter-Island S. N. Co Mutual Telephone Co... Oahu Railway & L. Co.. Pahang Rubber Co Selama-Dindinga Plant .. Rnlama-rjindinpB, '70 pc.) Tanjong Olok Rubber Co. BONDS Beach Walk Imp. Dirt... Hamakua Ditch Co Hawaii Con. Ry. 5 pc... Hawaiian Irr. Co., 6s.... Haw. Tar, 4 -. Rafwntf . . Haw. Terr! 4 pc Piro imp ''w. Terr. Pub. Imp. 4 pc Haw. TerrM Vz pc Hilo Gas Co., Ltd., 6 pc. . Honokaa Sugar Co, 6 pc. Honolulu Gas Co., Ltd., 5s Kauai Ry. Co- 6s Manoa Imp. DisL 5'2 pc. . McBryde Sugar Co, 5s .. Mutual Telephone 5s ... Oahu R. & L. Co., 5 pc. . . Oahu Sugar Co., 6 pc... Olaa Sugar Co, 6 pc Pacific Guano & Fer. Co. Pacific Sugar Mill Co, 6s San Carlos Milling Co. .. 18 11 4'2 3'4 1!2 35 15 125 170 20 io' 3534 16 '2 120 135 145 18 14 36 100 .... "lVi 80 97 100 102V tea e 1 102 95 Eetween Boards: Sales: 45, 60 Olaa, 4.87V 225, 120, 100 Hawn. Pines, 35.50; $8000, $1000, $11,000 Honokaa 6 pc, 92.50. Session Sales: 10, 25 Hawn. Sugar, 31; 100, 100, 100, 100, 25 Olaa, 5. Dividends, Dec. 31: Ewa, .20; Ka huku, .10; Hawn. Pines (70c ex), 1.00; I. I. S. N. Co, .75; C. Brewer, 5.00; Honolulu Gas (50c ex), 1.00; H. B. & M. Co., .40. Dividends, Jan. 2, 1918: Haiku, 1.00; Kekaha, 2.00; Koloa, 1.00; Paia, 1.00; Pioneer, .20. - No session of the exchange, Jan. 1, 1918. Latest sugar quotation: 96 deg. teat, 6.0025 cents, or $120.05 per ton. Sugarfl0025cts Henry Watemouse Trust Co Ltd. Members Honolulu Stock and Bons Exchange Fort and Merchant Streets Telephone 12C8 PAC!R COMPANY, LIMITED Consulting, Oesignlng and Con structing Engineers Bridges, Buildings, Concrete Struc tures, Steel Structures, Sanitary Sys tems, Reports and Estimates on Projects. Phone. 1045. t " ' I " ' ' . 1 1 - 1 -1 . . . Be Prepared for next Christmas season, by joining our Christmas Savings Club, which begins next Monday, January 7. It makes gift-buying easy. You will never miss the small weekly deposits, and on December 15, 1918, you will have $12, $24, $48 or $96 with interest, according to which plan you select. THIS IDEA IS POPULAR BACK EAST Stop in at once and let us explain this plan in detaiL Or drop us a card and we will mail you an explanatory letter. Better do this today. Bishop & Company Savings Department c MARKS LAST ' 1 7 EXCHANGE MEET The last session of the Honolulu Stock & Bond Exchange for the year 1117 was featured this morning with spirited bidding in every listed and unlisted security and out of the scramble Olaa emerged with a gain o( an eighth of a point touching once again the $0 mark. On the board 32j Olaa sold at $5 and between boards lv'i went at the old figure of $4.87 1-2. There will be no session of the ex change tomorrow. New Year's Day. The only other stock to trade hands on the session w-as 35 shares 01 Hawaiian Sugar at $31, a weaker price than the last sale Between boards 445 Hawaiian Pines sold al $33.."0,a considerable drop over the price of the last sale. Some investor or investors made a handsome profit hy taking $20,000 Honokaa 6 per cent bonds at $92.50. Evidently the buyer or buyers were folks who had junt received their money from the re demption of the Pacific Sugar Mill bonds to the extent of $500,000. Seven concerns paid dividends to day. On Wednesday. Pioneer will be gin paying dividends of 20 cents which is half of the old monthly fig. ure. The dividend paid by Hawaiian. Pines of 30 cents and 70 cents exira today applies only to the old stock and not the new issue. Six stocks will pay dividends Wednesday. In the unlisted securities, tfadihg in Kngels Copper continued at a slightly weaker figure: 175 share? selling on the board at $4.40 and be tween sessions 370 sold at $4.45 ana 100 at $4.40. Also between boards 500 Montana-Bingham sold at 36 and 100 at 37 cents while on the board 700 brought 36 cents. Madera held at 31, 2500 going this morning and 700 be fore the session. UNION OIL CUTS MELON Local stockholders in the Union Oil Co. of California were notlfed by letters received in the mail this morn ing that at the meeting of the board of directors of the company on Dec. 18 at Oleum. Cal., a stock dividend of 10 per cent was declared. This' dlv dend will be paid on March 15 to stock holders of record between Feb. 16 and Feb. 26. The board announces in the letter that this dividend Is not in any way in lieu of other disbursements and that the board will meet early in January to declare the usual dividend. Since the announcement Union Oil stock has made a solid gain of 5 points, now resting in the vicinity of 106. UNLISTED SECURITIES. Monday, Dec 31. Bid Asked OIL Honolulu Con. Oil MINING Engela Copper Mining Mineral Products Co.. Mountain King Mining Montana Bingham Co. Madera Mining Co.... 3.75 4.00 4.40 .07 .06 .35 .31 4.45 .10 .09 .37 .32 Sales: 3000 Mineral Products, .08; 100 Engels, 4.40; 370 Engels, 4.45; 100 Bingham, .37; 500 Bingham, .36; 700 Madera, .31; 700 Bingham, .36; 2500 Madera, .31; 175 Engels, 4.40. One hundred cars of coal consigned to lake ports for shipment to the northwest were ordered seized by the mayor of Akron. The coal was sold to relieve the fuel shortage. BUC3u3Ei3S Distillate, Crude Oil and Kerosene DU RANT-IRVINE CO, LTD. 45 King St. Phone 1962 BRITISH, FRENCH and CANADIAN WAR IS SUES are now selling at prices to yield from ftl2 to 18 per cent. Bishop Trust Co., Ltd. it- J C. BREWER & CO. (LIMITED) SUGAR FACTORS COMMISSION MERCHANTS SHIPPING AND INSURANCE AGENTS FORT ST., HONOLULU, T. H. List of Officers and Directors: E. F. BISHOP President G. H. ROBERTSON ...Vice-President and Manager R. IVERS ...Vice-President and Secretary A. GARTLEY Vice-President E. A. R. ROSS Treasurer GEO. R. CARTER Director C. H. COOKE ....Director J. P. G ALT Director R. A. COOKE Director D. G. MAY Auditor P. H. BURNETTE 79 Merchant St. Phone 1846 NOTARY PUBLIC Commissioner of Deeds California and New York Draws: Wills, Deeds, Mortgages and all Legal Documents THE YOKOHAMA SPECIE BANK, LIMITED. Capital subscribed. . .yen 40,000,000 Capital paid up... ...yen 30.00o',000 Reserve funds .yen 22,100,000 S. AWOKI, Local Manager. Join Our XMAS SAVING Cluh starting January 7, 1918. BISHOP & CO. Savings Dept. E. C. PETERS 10 McCandless Bldg. Honolulu, T. H. Stocks, Bonds, Securities, Loans Negotiated, Truet Estates Managed HAWAIIAN TRUST CO., Ltd. Stocks and Bonds Real Estate Insurance Safe Deposit Vaults . . Authorized by law to act as Trustees, Execu tors, Administrators and Guardians fiouWant CALL CASTLE & COOKE, Limited General Insurance Agents Fort and Merchant Streets a Just received and can be had for the asking, " WAR TAX" A synopsis of the War Ta& with accurate tables and concrete examples of its application to individuals, partnerships, corporations, joint-stock companies, insurance companies, etc. if i Transacts a General Banking Business. Invites your account and guaran tees safe and efficient service. Exchange. Letters of Credit and Travelers' Checks issued ca principal points. Cable Transfers Alexander & Baldwin Limited Sugar Factors Commission Merchants and Insurance Agents Agents for Hawaiian Commercial & Sugar Company. Haiku Sugar Company. Paia Plantation Company. Maui Agricultural Company. Hawaiian Sugar Company. Kahului Railroad Company. McBryde Sugar Company. Kahuku Plantation Co. Kauai Fruit & Land Co., Ltd. Honolua Ranch. Insurance B. F. DILLINGHAM CO, LTD. PHONE 4915 Fire, Life, Accident, Compensation 8URETY BONDS Money to Loan HOME INSURANCE COMPANY OF HAWAII, LIMITED S16 Fort Street Telephone 3529 J. F. MORGAN CO., LTD. STOCK BROKERS Information Furnished and Loans ', -v ; --Made ... . . Merchant, Street Star Building ; Phone 1572 FOR RENT Electricity, gas, screens in all bosses. Pine new 3-bedroom house, $30. Neat furnished cottage for two, 118. For loan on mortgage, $10,000. J. H. SCHNACK 824 Kaahumanu 8t Tel. 6247 or 8131 Life, Fire, Marine, Automobile, Tourists' Baggage or Accident Insurance, UPON Ask the - Bank of Hawaii, Ltd. Cor. Fort and Merchant Bis,:' ;. . for a copyC'?'--'.v-? 4 - ' '- it s .1 ' . . '' ..7. '. I .--J i 1 - -wt r w! 4 ' 4 ' . ' lit j i .4 - s - ' , - ' i ' " : ' . r-,.V... i..'