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October 6, 2021 by Peter T Young Leave a Comment

Big Five (plus 2)

“By 1941, every time a native Hawaiian switched on his lights, turned on the gas or rode on a street car, he paid a tiny tribute into Big Five coffers.” (Alexander MacDonald, 1944)

The story of Hawaii’s largest companies dominates Hawaiʻi’s economic history. Since the early/mid-1800s, until relatively recently, five major companies emerged and dominated the Island’s economic framework. Their common trait: they were focused on agriculture – sugar.

They became known as the Big Five:

C. Brewer & Co.
Founded: October 1826; Capt. James Hunnewell (American Sea Captain, Merchant; Charles Brewer was American Merchant)
Incorporated: February 7, 1883

Theo H. Davies & Co.
Founded: 1845; James and John Starkey, and Robert C. Janion (English Merchants; Theophilus Harris Davies was Welch Merchant)
Incorporated: January 1894

Amfac
Founded: 1849; Heinrich Hackfeld and Johann Carl Pflueger (German Merchants)
Incorporated: 1897 (H Hackfeld & Co;) American Factors Ltd, 1918

Castle & Cooke
Founded: 1851; Samuel Northrup Castle and Amos Starr Cooke (American Mission Secular Agents)
Incorporated: 1894

Alexander & Baldwin
Founded: 1870; Samuel Thomas Alexander & Henry Perrine Baldwin (American, Sons of Missionaries)
Incorporated: 1900

Some suggest they were started and run by the missionaries. Actually, only Castle & Cooke had direct ties to the mission – Castle ran the ‘depository’ and Cooke was a teacher.

Alexander & Baldwin were sons of missionaries, but not a formal part of the mission. Brewer was an American sea captain and merchant; the founders of Davies were English merchants and the founders of Amfac were German merchants.

Hawaiʻi’s industrial plantations began to emerge at this time (1860s;) they were further fueled by the Treaty of Reciprocity – 1875 between the United States and the Kingdom of Hawai‘i eliminated the major trade barrier to Hawai‘i’s closest and major market. Through the treaty, the US obtained Pearl Harbor and Hawai‘i’s sugar planters received duty-free entry into U.S. markets for their sugar.

As the sugar industry pushed ahead, something else new was introduced into the economic scheme of things. In Honolulu two or three new firms began business solely to handle the affairs of the scattered plantations.

They began by acting as selling agents for the planters. Gradually they took over other functions: financing crops, importing labor, purchasing machinery for the planters and serving in all ways as their business agents. The new businesses soon found themselves running the sugar industry.

By the 1880s, five of these concerns, called factors, eventually dominated the field. How effectively the Big Five could band together as one against outside forces whether the enemy was foreign capital, insects, labor, competing products or disease was well demonstrated by their Hawaiian Sugar Planters Association, more familiarly known as the HSPA. (MacDonald)

This group organization for Hawaii’s sugar industry was founded in 1882 as the Planters’ Labor and Supply Company when the planters found they had common problems in irrigating the sugar lands, growing the cane, and finding labor. That was its immediate official purpose.

“Everything that comes into the territory comes through a large corporation. The independent businessman who attempts to enter business here immediately finds that even nationally advertised lines from the mainland are tied up by the Big Five. It is almost impossible to get an independent line of business as they have everything – lumber paint, right down the line.” (Edward Walker, High Sheriff of Hawaiʻi, 1937; Kent)

Acting as agents for thirty-six of the thirty-eight sugar plantations, the Big Five openly monopolized the sugar trade. Twenty-nine firms, producing seven out of every eight tons of sugar exported from the Islands, refined, markets and distributed through the Big Five’s wholly owned California and Hawaiian Sugar Company, whose refinery, the largest in the world, was on San Francisco Bay. (Kent)

They branched out into other businesses. To squeeze additional profits out of the sugar trade, they started their own refinery in California; it was to become the largest in the world. They built up a fleet of ships, the Matson line, to carry the sugar away and to bring back goods and passengers.

They developed inter-island shipping, built hotels, put capital into insurance, cattle, pineapples, banking. They took over bodily the wholesaling of goods coming into the Islands; ninety percent of retail stock came from their warehouses.

Their capital started the public utilities. Their street railway transported Hawaiians, their gas and electric plants lighted the city, they acquired the communications systems. (MacDonald)

The sugar industry was the prime force in transforming Hawaiʻi from a traditional, insular, agrarian and debt‐ridden society into a multicultural, cosmopolitan and prosperous one. (Carol Wilcox)

With statehood in 1959 and the almost simultaneous introduction of passenger jet airplanes, the tourist industry began to grow rapidly.

The industry came to maturity by the turn of the century; the industry peaked in the 1930s. Hawaiʻi’s sugar plantations employed more than 50,000 workers and produced more than 1-million tons of sugar a year; over 254,500-acres were planted in sugar. (That plummeted to 492,000-tons in 1995.)

A majority of the plantations closed in the 1990s. As sugar declined, tourism took its place – and far surpassed it. Like many other societies, Hawaii underwent a profound transformation from an agrarian to a service economy.

There were a couple other associated entities that were associated with the Big 5” Dillingham (Benjamin Franklin Dillingham) and Campbell (James Campbell) and their associated companies.

Click HERE to view/download for more information on Hawai‘i’s Big 5 (plus 2).

© 2021 Hoʻokuleana LLC

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James_Campbell_Building-(Williams, Adamson)-1967
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Dillingham Transportation Building-PP-8-4-003-00001

Filed Under: Prominent People, Economy Tagged With: American Factors, Dillingham, Castle and Cooke, Hawaii, James Campbell, Big 5, Alexander and Baldwin, Theo H Davies, C Brewer, Amfac

June 23, 2019 by Peter T Young Leave a Comment

The New “Big 5”

This story was inspired by a luncheon talk former OHA Trustee, Peter Apo gave to the Hawaiʻi Economic Association I attended. Although he hinted at the “Big 5” reference, he purposefully referenced it differently.

Since the early/mid-1800s, until relatively recently, five major companies emerged and dominated the state’s economic framework. Their common trait: they were founded in agriculture – sugar and pineapple.

They became known as the Big 5: Amfac – starting as Hackfeld & Company (1849;) Alexander & Baldwin (1870;) Theo H. Davies (1845;) Castle & Cooke (1851) and C. Brewer (1826.)

The luncheon talk suggested a new group of five is making a difference in Hawaiʻi’s economic scene.

The new “Big 5:” Kamehameha Schools, Queen Emma Foundation/Queens Health Systems, Department of Hawaiian Home Lands, Office of Hawaiian Affairs and Queen Liliʻuokalani Trust.

Their common trait: they are entities formed from or for native Hawaiians.

Kamehameha Schools (KS)

The largest, Kamehameha Schools (KS) was founded under the terms of the 1884 will of Bernice Pauahi Bishop and is supported by the land assets she provided to support the schools.

The Princess noted in her will that a trust is “to erect and maintain in the Hawaiian Islands two schools, each for boarding and day scholars, one for boys and one for girls, to be known as, and called the Kamehameha Schools.”

She further stated, “I desire my trustees to provide first and chiefly a good education in the common English branches, and also instruction in morals and in such useful knowledge as may tend to make good and industrious men and women”.

Through the legacy of its founder, KS is endowed with 365,000-acres of land statewide, ninety-eight percent of which is in agriculture and conservation.

KS has about 1,000 agricultural tenants who farm a variety of crops including coffee, papaya, pineapple, macadamia nuts, lettuce, asparagus, sweet potatoes, taro, watercress, avocado, bananas, tomatoes, cattle, aquaculture, and more.

Kamehameha Schools has net assets of nearly $7-billion and annual operating revenue of $1.34-billion.

Queen Emma Foundation/Queens Health Systems

The Queen’s Hospital, now called The Queen’s Medical Center, was founded in 1859 by Queen Emma and King Kamehameha IV.

Queen Emma Land Company was established to support the Queen’s Medical Center and its affiliates and accomplishes this by managing and enhancing income-generating potential of the lands left to the Queen’s Hospital by Queen Emma in 1885 and additional properties owned by the Queen’s Health Systems.

Today, the Queen’s Health Systems is Hawaiʻi’s oldest health care-related family of companies, ranking 13th in size among Hawaiʻi’s corporations and employing approximately 3,700 employees with net revenues of roughly $516-million.

Department of Hawaiian Home Lands (DHHL)

Written in 1920 and passed in 1921 by the US Congress, the “Hawaiian Homes Commission Act” established a structure and framework for the establishment of the Department of Hawaiian Home Lands (DHHL) to enable native Hawaiians to return to their lands in order to fully support self-sufficiency for native Hawaiians and the self-determination of native Hawaiians.

The principal purposes of the Act: establishing a permanent land base for the benefit and use of native Hawaiians; placing native Hawaiians on the lands; preventing alienation of the fee title to the lands set aside so that these lands will always be held in trust for continued use by native Hawaiians in perpetuity …

… providing adequate amounts of water and supporting infrastructure, so that homestead lands will always be usable and accessible; and providing financial support and technical assistance to native Hawaiian beneficiaries.

When considering development and use of its lands, DHHL asserts its land use authority over Hawaiian Home Lands through its General Plan and Island Plans and is exempt from State and County land classification requirements.

DHHL has net assets of approximately $717-million and annual operating revenue of over $12-million, plus on-going capital improvement/development expenditures.

Office of Hawaiian Affairs (OHA)

Amendments to the State Constitution in 1978 established the Office of Hawaiian Affairs (OHA.) Those amendments also established a board of trustees for the Office of Hawaiian Affairs.

The Office of Hawaiian Affairs is a semi-autonomous state agency created “to address the needs of the aboriginal class of people of Hawaii.”

Duties of the Board of Trustees include, “hold title to all the real and personal property now or hereafter set aside or conveyed to it which shall be held in trust … (as well as) manage and administer the proceeds from the sale or other disposition of the lands, natural resources, minerals and income derived from whatever sources for native Hawaiians and Hawaiians”.

Recently, it was announced that the State and OHA settled disagreements on past ceded land payments. The State is giving about 25 acres of land to OHA, worth $200 million.

This is added to its existing inventory of Wao Kele O Puna (25,800+ acres,) Waimea Valley (1,800-acres) and other smaller properties.

The Office of Hawaiian Affairs has net assets of over $650-million and operating revenue of over $40-million.

The Liliʻuokalani Trust (QLT)

In 1909, Queen Liliʻuokalani executed a Deed of Trust that established the legal and financial foundation of an institution dedicated to the welfare of orphaned and destitute children of Hawaiʻi.

Her Deed of Trust states that “all the property of the Trust Estate, both principal and income … shall be used by the Trustees for the benefit of orphan and other destitute children in the Hawaiian Islands, the preference given to Hawaiian children of pure or part-aboriginal blood.”

The trust owns approximately 6,200-acres of Hawaiʻi real estate, the vast majority of which is located on the Island of Hawaiʻi. 92% is agriculture/conservation land, with the remaining land zoned for residential, commercial and industrial use.

The trust owns approximately 16-acres of Waikīkī real estate and another 8-acres of commercial and residential real estate on other parts of Oʻahu. It has operating revenues of approximately $40-million.

In addition to these land holdings, the Legislature created the Kahoʻolawe Island Reserve Commission (KIRC) to manage the Kahoʻolawe Island Reserve while it is held in trust for a future Native Hawaiian sovereign entity.

While most of the prior “Big 5” have slowly faded away and no longer influence Hawaiʻi’s economy as in the past, these other five have a growing presence and influence in Hawaiʻi’s future.

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Filed Under: General, Economy Tagged With: Kahoolawe, OHA, Hawaii, Office of Hawaiian Affairs, Bernice Pauahi Bishop, QLT, Kamehameha Schools, KSBE, Queen Liliuokalani, DHHL, Department of Hawaiian Home Lands, Big 5, Queen Emma, Queen's Medical Center

October 25, 2018 by Peter T Young 3 Comments

Amfac Center

The story of Hawai‘i’s largest companies dominates Hawaiʻi’s economic history. Since the early/mid-1800s, until relatively recently, five major companies emerged and dominated the Island’s economic framework. Their common trait: they were focused on agriculture – sugar.

They became known as the Big Five: C. Brewer (1826;) Theo H Davies (1845;) American Factors (Amfac) – starting as Hackfeld & Company (1849;) Castle & Cooke (1851) and Alexander & Baldwin (1870.)

“By 1941, every time a native Hawaiian switched on his lights, turned on the gas or rode on a street car, he paid a tiny tribute into Big Five coffers.” (Alexander MacDonald, 1944) Things changed.

On June 3, 1968, the first increment of Mililani’s single-family homes went on sale; 112 houses were originally offered for purchase at $25,000 to $35,000 each.

In its time, Mililani was one of the biggest signifiers that the Big Five were abandoning agriculture in Leeward and Central Oahu in favor of suburban development. Castle & Cooke created Mililani out of pineapple fields it had owned since 1948. (In 1976, the H-2 Freeway opened.)

On June 19, 1970, following the changes in travel that the introduction of jetliners in 1959 made another Big Five company, Alexander & Baldwin, was seeing changes. Just 6-years previously, A&B bought out the interests of other Big Five ownership in Matson (Castle & Cook, C Brewer and Amfac). (NY Times)

In 1970, A&B’s Matson line’s Lurline had her last voyage – it was the end of the era (dating back to 1933) of Matson’s 5-day luxury liner travel between Hawai‘i and the West Coast, and the end of Boat Days at Honolulu Harbor. (Honolulu Magazine)

About this time, other changes were going on in downtown Honolulu, around the waterfront – Amfac was redeveloping its headquarters building.

Previously (1901), Amfac-predecessor Hackfeld built a stone and concrete building that covered the mauka-Ewa corner of the block and had its main public entrance on the Queen-Fort Street corner, beneath a fourth-level dome.

Another entry closer to the harbor on the Fort Street side opened to the company’s three floors of offices, many occupied by managers and clerks for the once immense operations of one of the largest of Hawai‘i’s Big Five sugar companies.

Oliver Traphagen came up with a both ornate and solid design for U-shaped structure to extend the whole of the Fort Street frontage and continued in along the Queen Street and Halekauwila Street (now Nimitz) sides.

The project was completed in March 1902. For over half a century, the Hackfeld Building (later renamed American Factors (Amfac) Building) dominated the harbor edge of downtown Honolulu. (Fort Street Mall)

Then, starting in the late-1960s, Amfac was redeveloping its headquarters in a joint venture (under the name Center Properties) with Seattle developer Richard H Hadley. The new complex eventually filled the entire block bounded by Bishop, Queen Fort and Halekauwila (now Nimitz) Streets.

The new complex, named Amfac Center, was built in two distinct phases between 1968 and 1971; the towers are marble-faced skyscrapers, now recognized as late International Style or, alternatively, as “Formalist.”

The first of the two 20-story buildings, the Amfac Tower (Amfac Building), was completed in 1968 at the corner of Bishop and Halekauwila (now Nimitz) streets.

The old stone Hackfeld/Amfac Building came down in 1969 to prepare for the construction of the second of the two Amfac Center buildings, the Hawaii Tower (Hawaii Building), completed in 1971.

After subsequent sales of controlling interests in the company and liquidation of land and other assets, in 2002, the once dominant business in Hawaiʻi, the biggest of the Hawaiʻi Big Five, Amfac Hawaiʻi, LLC filed for federal bankruptcy protection. (TGI)

That year, John Edward Anderson, purchased the Amfac Center and renamed it the Topa Financial Center. Topa comes from the Topatopa mountain range in Ojai, east of Santa Barbara, California, where Anderson has a ranch of the same.

Topa means gopher in the language of the Chumash, American Indians who live in the Santa Barbara area. As part of the name change, Amfac’s 20-story twin towers were renamed the East Tower and West Tower. (Ruel)

(There is some suggestion that there is a connection between the Amfac Center and the former World Trade Center (completed in 1973), reportedly through the architect who was apparently associated with each. If so, more to come on that.)

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American Factors (formerly H.Hackfeld)-PP-7-5-018-00001
American Factors (formerly H.Hackfeld)-PP-7-5-018-00001
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American Factors Building was demolished in 1970
American Factors Building was demolished in 1970
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Filed Under: General Tagged With: Heinrich (Henry) Hackfeld, Topa Center, Hawaii Building, Amfac Building, Hawaii, Big 5, Hackfeld, Amfac, American Factors

June 4, 2018 by Peter T Young Leave a Comment

James Hunnewell

“James Hunnewell was early associated with the commercial interests of these islands, and his long and useful life was marked by such constant goodwill to my kingdom, That I shall always cherish his memory with sincere regard.”

“Although he was only removed in the fulness of time, I deeply sympathize with you in the loss of such a parent, but I congratulate you in the inheritance of such an honored name.” (King Kamehameha IV to Hunnewell’s son)

His Early Life

“A distinctly adventurous Boston group with which the Frothinghams intermarried was the Hunnewell family. Like the Frothinghams, the Hunnewells had much to do with Charlestown. … ‘Hunnewell’s Point’ on the western shore of the Kennebec River, not far south of Bath, Maine, was named. This ‘Point’ was the site of Lieutenant Richard Hunnewell’s garrison at the time of Benjamin Church’s expeditions against the Indians.” (Crawford)

“James Hunnewell was the youngest but one of the seven children of William and Sarah, and he it is who justifies our description of the Hunnewells as ‘adventurous.’ Before his time none of the family had been interested in a seafaring life, but he studied navigation with the distinct intention of journeying to distant countries”. (Crawford)

“As a boy, he was bright and active, of slight figure; at the age of fifteen years, when he first went to sea, weighing but ninety pounds. He was offered attractive situations in stores, but his decided predilection was for the sea.”

“His purpose to go to sea, however, was not prompted by a desire to be free from the parental restraints and the influences of home. He was not a wild, reckless youth, of a roving disposition. On the contrary, his affection for home and kindred was singularly strong.” (Seamen’s Friend)

Going to Sea

‘In early life, although none of my relatives, on either my father’s or mother’s side, had ever been to sea, I had a strong desire for a seafaring life, and, more than any other way, enjoyed being on board boats and vessels.’ (Hunnewell)

“In October, 1816, he started on his first voyage to the Pacific. On that voyage he visited California and the Sandwich Islands, and was absent from home two years.”

“(I)t was urged by some of the chiefs that knew me on my previous voyage that I should remain instead of a stranger to trade with them.” (Hunnewell) He traded his boat and cargo for sandalwood, “We were the only traders on shore at Honolulu that had any goods to sell.” There was no currency at the time, so they generally traded for sandalwood. (Hunnewell, The Friend)

Hawai‘i Business Interests – the Foundation for the Formation of C Brewer

“During his first residence at the Islands, he had formed the determination to establish there an independent commercial house”. (Seamen’s Friend)

The company Hunnewell formed in the Island’s had a lasting legacy. The following are the various names which the firm was known: James Hunnewell, Hunnewell & Peirce, Peirce & Hinckley, Peirce & Brewer, C Brewer & Co, SH Williams & Co, C Brewer 2d, C Brewer & Co Ltd. (The Friend, January 1, 1867)

It eventually became C Brewer & Co., Ltd., incorporated on Feb. 7, 1883. The company grew, as did a handful of others. They became known as the Big 5: Amfac – starting as Hackfeld & Company (1849;) Alexander & Baldwin (1870;) Theo H. Davies (1845;) Castle & Cooke (1851) and C Brewer (1826.)

Hunnewell and the Hawaiian Islands Mission

“In October (23), 1819, he embarked on his second voyage to the Pacific, in the noted brig Thaddeus, of which he was an officer, and which vessel and her cargo were the first in which he had an interest as owner. This voyage of the brig Thaddeus will be memorable through all coming time …”

“Although he and they did not have the same purpose in visiting those distant islands, yet, it is not strange, he seems to have caught something of their spirit; for from that time until the close of his life, the missionaries and the cause of missions in the islands, found in him a faithful and sympathizing friend, an untiring, efficient and ready helper.” (Seamen’s Friend)

“March 30, 1820 – Let us thank God and take courage. Early this morning the long looked for Owahyee and the cloud capt and snow spt Mauna Keah appear full in view to the joy of the animated multitude on board …”

“… Capt. B. (Blanchard) this afternoon sent off a boat to make inquiries respecting the king &c. Mr. Hunnewell, a mate, Thos. Hopoo, J. Tamoree and others, went nearly to the shore and fell in with 10 or 12 native fishermen in their canoes who readily gave the important information that the aged King Tameamaah is dead – that Reehoreeho his son succeeds him – that the images of his Gods are burned …” (Thaddeus Journal)

“It was Mr. Hunnewell’s privilege to hear from the lips of Hewahewa, the last High Priest of the old idolatrous system, an account of the causes which induced the destruction of idolatry.”

“He says: ‘This Chief told me he knew the wooden gods could not send rain, or cause food to grow, or send fish, or take care of the old men and women, and he knew there was but one great God dwelling in the heaven; and that in this persuasion he cautiously conversed with the King, Kamehameha II., when he found the King was of the same belief with himself.’”

“And, adds Mr. Hunnewell, ‘I had the pleasure of bringing from the shore to the mission the glad tidings that Hawaii’s idols were no more.’” (Seamen’s Friend, October, 1869)

Click HERE for more information on James Hunnewell.

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Captain James Hunnewell-(MissionHouses)
Captain James Hunnewell-(MissionHouses)

Filed Under: Economy, Ali'i / Chiefs / Governance, Missionaries / Churches / Religious Buildings, Prominent People, Sailing, Shipping & Shipwrecks Tagged With: Thaddeus, C Brewer, James Hunnewell, Hawaii, Missionaries, Big 5

March 29, 2017 by Peter T Young Leave a Comment

Theo H Davies & Co

Englishmen James and John Starkey and Robert Cheshire Janion founded Starkey, Janion, & Co, a trading company in Liverpool, in April 1845.

They chartered a vessel and filled it with general merchandise valued at $80,000; it set sail for Honolulu. On arrival Janion rented a room on Nuʻuanu Street near the waterfront and hung out a sign “Starkey, Janion & Co.”

Later the same year, he negotiated a lease for a Ka’ahumanu Street site from Kamehameha III for “only 299 years,” as he wrote to the Starkeys, since “this was the best I could do.” (It was part of the claim of former British Consul Richard Charlton.

The firm quickly prospered, thanks to the whaling trade and prosperity on the Pacific coast. Transactions with the Hawaiians were bartered, coins and gold dust with the whalers.

They soon had their own fleet of ships sailing the seas between Hawaiʻi, the West Coast and England. As agent for Lloyd’s of London, Janion began underwriting cargoes leaving Honolulu harbor, later introducing fire insurance into the Islands.

By 1851, Janion and the Starkeys parted company. In the following year, Janion left Hawaii to return to Liverpool; to succeed him in Honolulu, Janion appointed a fellow countryman named William Green, whom he had hired two years earlier.

Then in 1856 he persuaded a Welshman, 23-year-old Theophilus Harris Davies, to go out to Hawaiʻi as a clerk for Green under a five-year contract. Eventually the Janion-Green partnership was dissolved and Davies became Janion’s partner.

In 1876, Davies incorporated Honolulu Iron Works with Janion, Janion’s wife, Green’s mother and Alexander Young. Janion died in 1881, leaving Davies in control.

Davies proved himself an aggressive promoter, playing a key role in the organization of Hāmākua, Laupāhoehoe, Niuliʻi, Kaiwiki and Union Mill plantations on the Big Island. He was adept at raising capital in London and helped finance a total of 22-plantations during his career.

Years later, Davies was a stockholder with Young in the organization of von Hamm-Young Company, forerunner of The Hawaiʻi Corporation. Principals were Young’s son Archibald, and Conrad C. von Hamm. An early project was the Alexander Young Hotel.

Toward the end of his career, Davies divided his time between Honolulu and his Nuʻuanu home, Craigside, and England, where he maintained a home at Southport called Sunset in Hesketch Park. It was there that he served as guardian to Princess Kaʻiulani during her years in English schools.

Back in the Islands, his business was thriving despite political upheavals and sugar setbacks. In 1892, the company opened a steamship department as agent for Canadian-Australasian Line, which began service in that year. Later the department represented Canadian Pacific, Cunard and many others.

In 1893 grocery, dry goods and hardware departments were set up and the following year, when the company incorporated, a Hilo branch was opened. Four years later Davies died.

Formerly organized into merchandise, insurance and shipping departments, Theo H Davies set up subsidiaries for all its activities.

Merchandise lines are primarily heavy equipment: Pacific Machinery’s Caterpillar tractors, Hawaiian Fluid Power’s hydraulic lines, Stubenberg Company’s manufacturing of field equipment, Davies Building Materials, and Hilo Iron Works.

Inter-Island Equipment handled lighter lines such as lawn mowers and air compressors while Davies Brokerage handled some grocery lines. Davies Marine Agencies operated the former steamship department.

Davies Insurance Agencies acted for underwriters Janion represented. They also acquired EH Campbell Tire, Honolulu’s Goodyear Tire distributor, and Atlas Electric, electrical equipment distributor.

Davies expanded to the Philippines in 1928, opening a Manila branch. In the 1930s the company built up a heavy investment in four Philippine sugar plantations.

One of Hawaiʻi’s Big Five (Amfac – starting as Hackfeld & Company (1849;) Alexander & Baldwin (1870;) Theo H. Davies (1845;) Castle & Cooke (1851) and C. Brewer (1826,) Davies grew to be second only to Amfac in territorial wholesaling.

It operated Honolulu’s pioneer retail grocery chain, Piggly-Wiggly, until the mid-1950s; it was also involved with Pizza Hut, Taco Bell, the Mandarin, Mercedes and Jaguar.

For a time in the 1960s Davies operated a building materials subsidiary in Spain with headquarters at Madrid but back in Honolulu the parent company was barely treading water. In the late 1960s and early-70s the company closed or sold off the drugs, dry goods, hardware and contract furnishing departments.

Mergers and consolidations reduced the company’s Big Island sugar plantations from five to three. Profits in merchandising were meager and returns on plantation investments were low. The iron works affiliate was sold to a mainland buyer that retrenched its activities drastically.

In 1967 Dillingham Corp. made a tender offer for Davies stock to the company’s 200 stockholders in Hawaii and England; the bid for control failed. In 1972, the 22-story Davies Pacific Center replaced the former Davies corporate headquarters. In 1973, Jardine, Matheson & Co., based in Hong Kong, acquired Davies. (Lots of information here is from Greaney and Engle.)

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Theo. H. Davies Co., Bishop St-PP-8-3-014-00001
Theo. H. Davies Co., Bishop St-PP-8-3-014-00001
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Filed Under: Economy, General, Buildings, Prominent People Tagged With: Big 5, Theo H Davies, Hawaii

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