The Pacific commercial advertiser. [volume] (Honolulu, Hawaiian Islands) 1885-1921, 1886-10-20


the Board may issue to anyone whom they
deem proper person.
Mr. Horner said the committee did no
have exactly that view before them. Tha
feature seemed better than what the com
mittee looked at. But they had the fur
Their object Of removing as far as possible
these hardsbips upon planters who own Z
large amount Of stOck-to ease them a lit
tie so that they could resign a part.
The Treasurer moved the adoption Of
the amendment.
Mr.. Austin seconded the motion, which
was carried unanimously.
The other recommendation Of the com
mittee was then considered.
The Chairman said the basis on which
shares were originally taken up was two
I tons to the share. No one, OF course
could COMPEL member of the society to
take more shares than he wanted to, but
nearly all did so in about that proportion.
The amount of production was about
doubled since then. There was no neces-
sity to take up shares in that proportion
now. For this reason the proportion had
been changed from two to three tons.
Mr.. Horner said that the committee, in
! looking over the matter, saw the necessity
of this society keeping its charter legal.
/ The charter requires two-thirds of the
/ shares to be out. If the people can be
! persuaded to take up shares in this ratio,
! there would be some 10000 shares. Then
the assessment will be very light-nOt
more than 10 or u cents per share. Mr.
! Jones had said yesterday that they would
require $1,000, irrespective of the maya
zine, to run the society; 1t would there
fore greatly benefit the society to have
more members.
The Treasurer presumed it did not make
it obligatory on planters to take that pro-
portion of shares. For instance suppos-
ing the yield of the Spreckels Sugar Com
pany to be $1,000 tons, their proportion
would be 5000 shares. If they wanted to
take 300 could they do so?
Mr.. Horner said that if he voted for the
amendment he should consider that he
pledged himself to take about that pro-
portion of shares.
The President said it would not be OBJ
ligatory; it was simply recommended.
Mr.. HOrner said the committee based
their conclusions on what the Treasurer
had said the day before, and on the proba-
BILE cost of The Planters Monthly"
The Treasurer moved the adoption of
the resolution.
Mr.. HOrner seconded the motion.
Mr. Schaefer moved an amendment that
the last part of the resolution be omitted.
viz, that giving the proportion of shares
to the tonnage.
Colonel Spalding seconded the amend
ment, which was carried.
Mr. j. NJ. Horner moved that the
same Trustees be elected that served last
year.
Colonel Spalding said that could not be
done without changing the bylaws. 1t
would be better to name the hour at which
the election would take place He moved
that it be considered as special business at
2p. III. Agreed to.
Colonel Spalding said he would like to
get the sense of the meeting as to chang
ing the bylaw relating to the number of
Trustees. The old rule said what was
everybody's business was nobody's bust
ness 1t was also said that there is wis
dom in a multiplicity of councillors, but it
was sometimes found to be the reverse.
He doubted whether thirteen members of
a Board of Trustees would take as much
interest in the affairs of the company as a
smaller number. ItwOuld be more clearly
seen perhaps if there were thirty members.
The more men we have to attend to GER
tain work, the more we have to leave that
work for others to do. Seven men would
give more individual attention to business
than thirteen, and perhaps five would give
more still
Mr. Horner-How about three?
Colonel Spalding replied that if one man
had the management of affairs in this
country he would probably give them more
attention than they got now.
The Treasurer said only one man is run
ming this thing now. Colonel Spalding in
ferred him to mean that only one was do
ing the talking. The Treasurer said he
referred to the country.
Colonel Spaulding said they had tried
having men on the Board of Trustees who
lived in Honolulu in order to get quorum
more easily, and they had seen the result
of that. Mr.. Macfe said yesterday that
work had been done by the Board of Trus-
tees that he knew nothing about. He was
commended the dissolution of the company.
If they had Board thoroughly represen-
tative of the planting interests these men
would take it to heart and go to Honolulu
whenever there was anything of real i'm
portance 10 take them there. They would
then get better results from meeting once
a year than from half dozen meetings of
men who were unable to adequately express
the views of the planters, such as those
resident in Honolulu. There were very
seldom more than five present out of the
thirteen. The others did not know when
they met He moved that article of the
bylaws be amended so as to read as origin
ally printed.
The Treasurer seconded the motion.
There was a great deal of truth i'll what
Colonel Spalding had said. There were
often four present and they had to wait
half an hour for the fifth. They had some
times had to carry matters through to get
the approval Of the full Board afterwards
He believed it would be easier to get a full
meeting with g small Board.
Mr.. Austin said he originally had the i'm
preston that it was best to have a large
Board composed of planters all over the
group. He was now thoroughly cured
of that impression He thought it advisa-
BILE to reduce the Board to seven, or even
below it and that it should consist of men.