Ka Hoku o Hawaii, Volume XXVII, Number 32, 19 February 1936 — I.-I. WILL BUY AIRWAY STOCKS [ARTICLE]

I.-I. WILL BUY AIRWAY STOCKS

lOx<i'nn"siiv>i," an <> )>t nv ii ], a s; liol,! binco June. 19dir(.'fiurs of tlie !is tur lshnid Stuaiu \ii\igviuon Cu, have vot«rtlio purc-hi>bc of a LlikU of Pan Ameiiean Aiivvavs sf<>ck ai a cost of approxivnately $r>oo.o<»<i, it svus annomu-etl recen(lv by Stanley C. Kennedy. preside»t «ml gen.-ial manager of 4Jie steamship i onij)any. The- option \va:s part of an a&nvmont siglied labt ye«ir. wlu-reby Lhe Inter-Island heeame g-iK'ral truffio agent in Hawaii for I'an Aiueriōfth. Directors voted to t s«.ivirir th~ S. r iOO r O<iO opfion as an iim^mom'.in conimert'ial air trans|)OMati'»n uf in<ernational soope. Mr. -Kennedy demed -n.port-;i th«I pon;ha,se liad heen nuido l).v īstand .Air\vays, L(d., ~pointing oui ihe transaet.ion' waa wiili tln:'«leainsliip line only. : : ! Pan AiiK'iiian Air\vays Corp„ aecoi ding to Mr. Kt mv. (iy, i* a holding coinpany organi-/.i'd in 1928 a* iho !'eriii]t of a reovgaiiization plan and acquired the■ businoss and usset* I of tho AviatiQH Cutp. of Amenean , fnd Aflan(ic Ouh' an<r Carilil» :, au AirI ways, lih'. ; j Sitice lhat tinio it has t\Ypa;ided its j lvoldings i'apidly aml the subsidiary | c>peraling system hus in< ; rcased Hom I 2āl : iiiileii Qf air roiittK ai tllo ēnd of |.192S to inore.than 31.000 miles at j.tUe cnd.of 1934. I .Furtlier additious have hoon mado I imiee that lime, including lhc ĪU'W | service. t During. th 6 .same period the annual i passeuger miles increased , imm to more than K9,<mO,flO;>. ī - While air route mileage incivaseit only 17 per cent from the end of 19H2 Ito tbe end of 1934 ya*ssenger miles | w.ere up 100 j>er cent. t The schedule efficiency rating for j 1934 was 99.74 per-cent, accordiii£ n» i the postoffice department. ■' j Tlie subsidiary companie.s" lines cx- , tend from teriuinals in Plorida. Tt x;ss ] and Cali f omia througliont ('■ nrral I America and the \Wst īndies. well ' ' througli moj?t <>T f?oulh Amoiiea. J . Ot£er lines serve Alaska, the Clrinese coast from reiping to īīongkoni; and from Shanghai sevēral mil.- inlo the interior. Chinese lines are owned ō."i pcr e. r.t \by the Chinese govenuiH'm aiul ir. ( percent by a Pan Amei'iean A ; rua\s j subsidiary. j The holding comi>a«yi;ig o-a i:> a "i"* j per cent intei*est in Pan Amcrivan- } Grace Airways, operating on ihe w e<t . coast" oi Si>«th Anu rica be<w«'..'ii the v anal Zono and Santlaso, Clnli ainl ! over the Andes to Ruenos Aire>, ! LIONS PLAN PICNIC ! Hilo īaons club plans An all day I pionie at Kalapana beach, for under ! ]irivilep«Hi youngsiers. FeY Thi- ' i;- the third amiual evon t to bo snon < sored by the l<io«s. | Freo transportatioti w ill b,> i>ro\i as w««U hs luneh. anul thoro ! will bo a gov>d pwgTtun of . j ra<vs and swimnuftg. .1 - ; y i \ tit»org« Hichanlson, Hilo po'uv in I s\HM'to»\ loft on Sunday's stcanu v !V: | Honolulu, to api»tN»r tn » ca>»o !