Saturday press. [volume] (Honolulu, H.I.) 1880-1885, 1884-05-31

To Incorporate ~, Hawanan National
Rank.

irldfwr Of the Kingdom dfSen'bfed'
SECTION l. That Claus Sprcckels, William
| G.. Irwin, Frederick +. Low, Samuel Parker, |
James Campbell, Samuel q. Wilder and
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 Hawisn 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 oil 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 OF bodies polite may
and can lawfully execute.
SIC. !. The said Claus Spreckels, VIII
ham G. Irwin, Frederick +. Low, Samuel
Parker, James Campbell, Samuel g. Wilder
and Thomas K. 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 privi
, legc Of increasing the number Of shares to
twenty thousand Of the par value Of one hun
bred dollars each, and the capital to two mil
. lion dollars, and when twenty five per centum
4, 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 majority Of the
persons named as directors Of the corporation
6 and presented to the minister Of the interior,
!, which certificate shall be filed among the
records Of his Office, the said corporation shall
4 be entitled to all the benefits and privileges
v conveyed or intended to be conveyed by this
o act.
y SEC. 5. Each shareholder shall be ndivid.
+ ually and personally liable for such proportion
n of all the debts Of the Corporation contracted
J.. during the time he was Shareholder as the
e amount Of stock shares owned by him
r bears to the whole Of the subscribed capital
stock or shares Of the corporation.
, SRc. 6. The said corporation shall have
power
n To cleo, directors the number Of which
lie shall be prescribed by its bylaws, but which
20 shall not be less than five nor more thar
o eleven, and by its board Of directors to elect .
N president, vice president and secretary, and
lie appoint cashier and other officers and agents
" define their duties, require bonds and fix The
a penalty thereof, dismiss any or all Of such APP
IL pointed officers at pleasure and appoint other
" to fill their places.
B To prescribe by its board Of directors by
,e laws not inconsistent with this act regulatin,
x. may be called in, the mode and manner Of tn
p transfer Of the shares Of stock, fix the numbe
Of directors. define their qualifications and pre-
in scribe the time, mode and manner Of their cleo
ar tion provide for the election Of the officers Q
ne the corporation by the directors, and the ap
he pointment Of such other officers and agents a
XII may be required, the manner in which it
re property shall be transferred, how its genera
IS, business shall be conducted and the privileges
Is, granted to il by law, exercised and enjoyed
cir and to alter and amend the same at its pleas
TO- ure.
th To declare through its board Of director
lot dividends out Of its net earnings. Provide
TO that no dividend shall be declared that wi
| impair its capital nor shall any dividend be dc
,ip cared until ten per cent Of lis net earnings fc
NO the period for which the dividend is to be de
he clared shall be set aside and placed to tn
an credit Of the re.erve fund until the reserve fun
in shall equal twenty per cent. Of the paid u
CT capital After the amount so set aside TO III
so credit Of the reserve fund shall have reache
ere twenty per cent. OF the paid up capital. flu
ers ther additions may or may not be made to
ard from the net earnings in the discretion Of h
rs. directors.
hat d To borrow or take on deposit, at intere
no, or otherwise, money. stocks, funds, shares
ing other securities.
un. To lend money TO governments, politics
so and municipal bodies and corporations, joi
II stock, railway and other companies OF priva
not. firms or persons upon any kind Of security
on without security.
md I To discount, buy and sell bills OF e
ga. change or promissory notes or other negotiab
vo- instruments.
$50. z To buy and sell, or hold the stock
on bonds, or other securities Of any government
we, political or municipal bodies and corporation
rest whether Hawaiian OF Foreign, or shares in Il
der capital Of any corporation whether incorpo
ve,o ated in the Hawaiian Kingdom or elsewher
bu, no, the shares in the capital Of this eorpor
hey ton.
list. To buy, sell. refine and assay gold a
nd. SILVER OF other metals.
em / To issue and negotiate loans or 9th
and financial transactions on commission OF oths
nay wise.
ully . To buy and sell either on account Of d
ED, corporation. OF on commission all kinds
hen goods. wares, merchandise and property
sch 4 To acquire by purchase, exchange, leas
=" hire on otherwise ioI OF in connection with
or any Of the purposes hereby authorized, Al
ships, steamers, vessels, lands, building
MIA. plant, machinery stock in trade, chattels
NV. effects, either in the Hawaiian Kingdom
otal elsewhere.