The Daily bulletin. [volume] (Honolulu [Hawaii]) 1882-1895, 1884-07-16

examination to he made, and if
satisfied that the bank still refuse or
neglect to redeem its circulating
notes after legal demand has been
made, and is in default, he shall,
within thirty days thereafter, declare
the bonds, deposited and pledged hy
the said corporation, forfeited to the
Government. and the same shall
thcrcupon he forfeited, And there
upon the Minister of Finance may
dispose Of so many of such bonds as
may ne necessary to redeem the
circulating notes outstanding, either
at public or private sale, after
giving thirty days notice, by
publication in two newspapers pub
lishcd in Honolulu, in Hawaiian and
English And, he shall receive in
payment of such bonds when sold,
the circulating notes of the corpora
ton at par, or other lawful money
of the Kingdom, and out of the
surplus money arising from such
sale or sales he shall redeem the
circulating notes still outstanding.
Provided, that il the corporation
shall deny that it has refused to re-
deem its circulating notes when
demanded, it may at any time apply
to any court of competent jurisdiction
to enioin further proceedings in the
premises; and such court, after
| citing the Minister of Finance to
show cause why further proceedings
shall not he enioined, and after the
decision of such court, or the finding
of n jury, that the corporation has
not neglected or refused to redeem
its circulating notes when legally
presented, in the lawful money of
the Kingdom, shall make an order
enjoining the Minister of Finance or
any officer acting under his direc-
tions, from all further proceedings
on account Of such alleged refusal.
Section 27. Nothing contained
in this Act shall prevent creditor
having claim or demand against
such corporation in good faith from
resorting to the courts Of the King
dom to enforce his claim.
Section 29. Every such cor
poration shall exist subject to the
laws now in force in this Kingdom
which do not conflict with the pro-
visions Of this Act and subject to
such laws as may hereafter be enac.
ted concerning the incorporation and
regulation of banking corporations.
Section 20. In lieu of all taxes,
imposts and licenses now or hereafter
to be levied, any corporation formed
under this Act shall pay or cause to
be paid into the Hawaiian Treasury
annually tax Of one per centum on
the average amount of circulating
notes delivered to said corporation
, and outstanding according to the
records Of the Treasury Department.
Provided that nothing in this Act
shall exempt the real estate or per-
sonal property, except the paid up
f capital, belonging to the corporation
) from being taxed to the same extent
, as all other real estate or personal
property in the Kingdom.
, Section 80. The lawful money
r mentioned in this Act shall be the
1 gold and silver coins Of the Hawaiian
= Kingdom and the gold and silver
Y coins OF the United States of America
: at their current value as established
= by the laws of this Kingdom.
= Section 81. Each stockholder of
n a corporation formed under this Act
n is individually and personally liable
: for such portions Of its debts and
c liabilities as the amount of stock or
c shares owned by him bears to the
b whole Of the subscribed capital stock
z or shares Of the corporation, and for
G a like proportion only Of each debt
t or claim against the corporation.
0 Any creditor of the corporation may
!. institute joint or several actions
II against any Of its stockholders for
: the proportion Of his claim payable
# by each, and in such action the Court
d shall ascertain the proportion of the