The Daily bulletin. [volume] (Honolulu [Hawaii]) 1882-1895, 1886-10-23

aOu1UunJ at Jne preSenU TaIc OF
wages, but any decrease in wages
would Immediately cause scarity
of labor. With the present prices
of sugar cheap labor is an absolute
essential to the future existence of
the sugar industry. 1t is not a
question of sentiment or ADVISABLE
ty of high or low grade labor; it is
simply cold question of fact-Will
you continue the sugar industry
with cheap labor, or will you abo-
lish the sugar industry of the ISL
ands? That is the only alternative.
THE TREAsuRER's REPORT.
Mr.. p. G.. Jones, Treasurer, pre-
sented his report, showing balance
on hand at the begging of the year,
1924 collections, S3,4S7; expendi-
lures, S3,679; leaving balance on
hand of 1872.
At the afternoon session, dis
cussion on the position of the COM
pany took place, participated in by
Messrs. Jones, Spalding, Horner,
Baldwin, Walker and Smith. A
resolution passed, on motion of Mr..
j. Nj. Horner, amended by Mr.. ii.
p. Baldwin, as follows: "Resolved,
that committee of five be APP
pointed by the President, whose
duty it shall be to revise or so
change our Constitution or bylaws
that our members may be more
equally and justly assessed, and
their rights as planters be as well
or better, maintained, and to report
the same to this association to-
morrow morning for adoption OF
rejection
The committee appointed con
sisted of Messrs. j. M. Horner, III.
p. Baldwin, Il. $. Spalding, r. Hal.
stead and Z. c. Jones.
The company next took up the
consideration of the publication o.
the Planters' Mouthly.
TUESDAYS SESSIONS.
The committee appointed on thu
previous day reported, recommend
ing that by bylaw II be amended
to read:-
The Board of Trustees may lev,
assessment on the capital stock o
the company as provided in article
s, and may fix the date (not les
than thirty days from the time o
passing the resoution) at whicl
said assessment, if unpaid, shal
have become delinquent. and an,
stock upon which any assessmen
may become delinquent shall be ad
vertised by the Secretary in SOM
one newspaper published in Homo
lulu for the period of thirty days
and if the said assessment shall still
remain unpaid, the Board of Trus
tees shall declare the same forfeite
to the corporation, and the holde
or holders shall be debarred fror
any rights or privileges based upo
the possession of such shares O
stock (proyided that any membe
may at any time surrender any par
of his stock to the Treasurer of tn
company upon his payment of a
assessments that may have becom
due and payable on such stock $
surrendered up to the time of sue
surrender). And the Board of .Trus
tees may then issue new certificate
of stock in place of shares so fol
feited (or surrendered), the same q
if the forfeited Cor surrendered
shares had never been issued.
The amendments appear i
brackets.
Mr.. Horner said the object of tn
committee had been to allow thos
who have more shares than the
, thought they ought to pay asses:
ment for to surrender, so as t
bring them more on an equality.
Further, he said, the committe
recommended and urged upon a
parties interested in the sugar in
dustry throughout the Islands t
help to carry out more vigorousl
the objects of this company by sub
scribing for one share approximate
for every three tons of their yearl
average production. They urge
the adoption of this recommends
ton as a resolution. If this coul
be carried out the assessment woul
probably not be more than 10 cent
per share. and the association woul
be held together as an organize
body ready for action whenever
might be needed. That was all Il
+ committee had been able to accon
! plish, and on these points they we
q unanimous, excepting Mr.. Dol
q who had not yet seen the form
4 which the recommendation h;
been drawn up.
The report and recommendation
< of the committee were discussed
9 length by Messrs. A. II. Smith,
M. Horner, the President; Mr..
/. Austin, the Secretary, and M
p Spalding.
r The proposed amendment W
q adopted.
q The other recommendation of Il
committee was adopted with ,
n amendment by Mr.. Schaefer th
2 the last part of the resolution, gi
n ing the proportion of shares to Il
= tonnage, he omitted.