Saturday press. [volume] (Honolulu, H.I.) 1880-1885, 1884-05-31
AN 1Cr
To Incorporate N, Hawahon Nnronn
Rank.

'e " eT"tftd ~ INC hfTS HFH E.fB''t"ffff -
frmbir Of Tie Haaaiia1 hianfI, in The Leg
iSidiH,r Of ne Kingdom aIfembltd;
4 SECTION !. That Claus Sprcckels, William
G.. Irwin, Frederick +. Low, Samuel Parker
James Campbell, Samuel G.. Wilder aud
Thomas X. Foster, their associates and sue.
cessors be and they are hereby created and
made body corporate under the name and
style Of the Hawiisn National Bank.
SEC. q. The Hawiian National Bank under
its corporate name as aforesaid, is hereby made
able and capable in law to sue and to be sued,
plead and be implicated, answer and be an.
swered, defend and be defended in all courts
in the kingdom or any other place to make,
have and use common seal and the same to
alter and renew at its pleasure to make by.
laws for the government OF the said corpora
ton, and generally to do and execute all and
singular such acts, matters and things as natu.
raj persons, corporations or bodies polite may
and can lawfully execute.
| SEc. 3. The said Claus Spreckels, vii
ham q. Irwin, Frederick +. Low, Samuel
Parker James Campbell, Samuel G.. Wilder
| and Thomas X. Foster, hercinbefore men.
! toned shall be directors OF the said banking
| corporation for the first year Of its existence
and until their successors are regularly chosen
and have entered upon the discharge OF their
duties and the affairs and concerns Of the
said banking corporation shall be conducted
| and carried on by the said directors, hereby
appointed, and their successors in office, in
| the manner and form hereinafter prescribed for
by the conduct and management of the bust.
ness affairs and concerns of said banking cor.
poration, and said directors and their success.
ors in office shall be subject and liable to the
provisions Of this charter OF act Of incorpora.
ton.
SEC. 4. The capital stock Of the said bank.
| ing corporation shall be one million dollars di.
vided into ten thousand shares Of the par value
Of one hundred dollars each, with the priv.
lege Of increasing the number Of shares to
twenty thousand Of the par value Of one hun.
dred dollars each, and the capital to two mil.
lion dollars, and when twenty-five per centum
OF the minimum capital named shall have been
paid into the said corporation in current or
lawful money Of the kingdom, and certificate
thereof made and signed by a majority of the
persons named as directors Of the corporation
and presented to the minister of the interior.
which certificate shall be filed among the
records Of his Office, the said corporation shall
be entitled to all the benefits and privileges
conveyed or intended to be conveyed by this
act.
SEC. s. Each shareholder shall be individ.
ually and personally liable for such proportion
of all the debts Of the Corporation contracted
during the time he was shareholder as the
bears to the whole Of the subscribed capital
stock or shares Of the corporation.
| SEC. g. The said corporation shall have
power
To elect directors the number Of which
shall be prescribed by its bylaws, but which
shall not be less than FIVE nor more than
eleven, and by its board Of directors to cleo,
president, vice president and secretary, and
appoint cashier and other officers and agents,
define their duties, require bonds and fix the
|
pointed officers at pleasure and appoint others
to fill their places.
To prescribe by its board Of directors by
laws not inconsistent with this act regulating
the manner in which assessments on the stock
may be called in, the mode and manner of the
transfer of the shares of stock, fix the number
of directors, define their qualifications and pre-.
ton, provide for the election Of the officers Of
the corporation by the directors, and the ap.
pointment Of such other officers and agents as
property shall be transferred, how its general
business shall be conducted and the privileges,
granted to it by law, exercised and enjoyed,
and to alter and amend the same at its pleas.
| uIe.
To declare through its board Of directors
dividends out Of its net earnings. Provided
that no dividend shall be declared that will
impair its capital nor shall any dividend be de-
cared until ten per cent Of its net earnings for
the period for which the dividend is to be de-
clared shall be set aside and placed to the
credit Of the re-erve fund until the reserve fund
shall equal twenty per cent. Of the paid up
capital. After the amount so set aside to the
credit Of the reserve fund shall have reached
twenty per cent Of the paid up capital, fur
Their additions may or may not be made to ii
from the net earnings in the discretion Of the
directors.
, d To borrow OF take on deposit, at interes,
or otherwise, money, stocks, funds, shares or
, other securities.
To lend money to governments, political
, and municipal bodies and corporations, joint
+ stock. railway and other companies or private
firms or persons upon any kind Of security OF
without security.
II + To discount, buy and sell bills Of ex'
change or promssory notes or other negotiable
instruments.
b. 4 To buy and sell, or hold the stocks,
bonds, OF other securities Of any government,
i, political or municipal bodies and corporations
i whether Hawaiian or Foreign, OF shares in thu
e capital Of any corporation whether incorpor
o a,ed in the Hawaiian Kingdom OF elsewhere
but no, the shares in the capital Of this corpora
Y ton.
. To buy, sell, refine and assay gold ane
!. silver OF other metals.
n i To issue and negotiate loans or othe
d financial transactions on commission other
y wise.
y To buy and sell either on aceoun, Of thu
!, corporation, OF on commission all kinds O
n goods, wares. merchandise and property.
To acquire by purchase, exchange, lease
hire OF otherwise ios OF in connection with al
OF any Of the purposes hereby authorized, an!
ships, steamers, vessels, lands, buildings
!. plant, machinery stock in trade. chsttels O
;. effects, either in the Hawaiian Kingdom O
II elsewhere.
To acquire by grant, purchase, license O
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