Ka Hoku o Hawaii, Volume XXVII, Number 35, 18 March 1936 — HONOKAA HAS A SPLENDIO YEAR [ARTICLE]

HONOKAA HAS A SPLENDIO YEAR

From a l'inaneial standpoint Ilonokaa Sugar Co. exj>erienced one of tlirbest years in its liistory in 1935 and, according to stock exchange r§cord.,. its best 12 mouths in tho past 12 years. . The coinpany eameil net profit of $2i>2,549.04 equal to $2.82 u share, ai'ier writiug off $74,382 for depreciation atid sc«ttling up $95,020 for 1935 tax<3s payable in 1936. This compares with net profit of $66, -09.62, equal to $0,663 a share. in 1934. Tlie company has paid no dividends since September 15, 1910. During< 1935 the company reduced its indebtedness by $177,0i»0, including §100,000 paid, on account of notes and $77,000 di.sbursed in retiring bonds. This will effect a eon siderable saving in interest payments in future whieh have been a rather heavy overhead chnrge in former vearis.

I During the year the companv received $179,473.41 as beneiit paymonts under thc sugar eane produeiion adjustment agreement. j Gonerally 193r> proved a pvofit- \ able year for the eoneem, pavtly due I to the fact tliat curtailmexit of crops i cut down expenditures on futur<'' i crops and partly because l>cttor pvices I wervi received for sugar. | Tlie ouai ot crop at mavko( \vas i $ri6.96 a ton of sugav. a record low . I ievel for Honokaa, Mnnaiiei' \V. I*. | ' Naquin rcpor!ed. f | ! "\vmi the ever increasinj; de-! I maud< beitig nw<lo by !w>th j ! fedonil sovt»rmnont fov taxes, |t is. | intporativo that suc:ar prices tn*nv mv j I ward if we ar*> to keep in the vun* I nin»:; he addod. "We Uope that the , ptvsont upwanl trotid <HWin«os. ,> j Pro*lmtion last yeav wa^ iion» oi sngav aivd -liliL yiohl of *> ,j53 j |tons vif iwv arre tht> liigb | i est to vlate in Honoka;v"s history, lt | . jxsuvtoā 11.31 U>ns of I.«u- u* n oi >u»iac an.i ;iov< yioM of oane 5 'W Hs 63,ti9. * |