The Hawaiian gazette. [volume] (Honolulu [Oahu, Hawaii]) 1865-1918, 1889-09-24

| Supreme Court:
Justice Preston on the 10th of August,
have the honor of submitting to this
| honorable Court, a report OF my exam
ination of the Trustees account for the
year commencing August /, 1888, and
ending July 81, 1889.
Besides the usual schedules showing
their receipts and expenditures for the
year, the Trustees have also filed sum-
| married. statement of the whole account
which is of great assistance to the master
especially in a large estate as this one is
involving great number of items on
the two sides of account.
The Trustees vouchers number in all
304. These compared with the items of
expenditure are verified by the master
and with only single exception, found
correct.
The exception is in item PIP where
the estate is charged with $237, but by
the bill the Trustees have paid $237 80
loss of fifty cents to the Trustees.
The total of receipts for the year, in
Guiding the sum of $5,802.35 as balance
from the previous account, is SOL $40. AZ:
which the Trustees charge themselves
with: and their payments amount to
$43, 325 SO; the balance reported as cash
on hand July 81, 1889, is sS,6l4.51.
For classification OF the Trustees
receipts and payments, | would refer
your Honors to the summarized state
ment which accompanies the account.
The Trustees charge for commissions
is upon the sum of SIS, 1928, as the
total of income received during the year.
Upon this matter l have to report that
the charge is upon the same basis as
was heretofore in vogue and practiced in
this as well as in other estates, that is to
say the charge is based upon the re-
ceipts only, instead of upon the receipts
and payments.
Without saying anything about re-
celpts and payments on account of the
investments, find the sum of $13, 343. 26
to have been the actual amount of
moneys received and paid. The differ
ence between the total income received
($15, 752. S3) and the actual amount paid,
ST., 343.26, is the sum of $2,409.57. /
find overcharged for commissions the
sum of $l2047.
If, however, the Trustees are entitled
to compensation for managing the loan
funds of the estate, l will report that
during the year the Trustees have re-
ceived $50, 204.S9 and paid $29, 1892. 70 on
account of the principal or loans.
Included in the Trustees expenditures
is payment of twenty-five cents on
July Is, 1889, for "oath to tax return,
Waikiki, Maui" Although a small
matter, have called attention to it
merely to show that the tax law of 1882
Chapter 4S section 36) prohibits the re-
warding or payment of fee for the tax
ing of oaths to tax returns.
As to item 271 $3.50 for water rate on
the Macy premises paid July 6, 1889,
think it an oversight to have charged it
to running expense" as all other it,ms
pertaining to the Macy premises are en-
tered as profit and loss"
There appears to have been the sum
of $27.2S paid on December 13, 1888,
under protest for cash in bank. What |
the result of this protest is, is not shown |
in the Trustees present account.
The Trustees report discrepancy be- |
tween the list of securities Of last year as |
with the present list now filed |
which is claimed to be the correct one.
The Trustees have requested the master
TO make the comparison for the purpose
Of finding out wherein the discrepancy
lies. l regret to report my inability to
10 so, owing to the limited time at my
disposal. 1t may be that the discrep-
lncy goes further back than last year. |
hink it safe to grant that with the
present improved method OF keeping the
Trustees accounts, the present list of
he securities is as claimed, and that the
has occurred some time
Jack.
Reference is hereby made to vacancy
m the Board of Trustees owing to the
leath of the late VIM. G. Parke, which
occurred May 30, 1889.
Mr.. w. E. H. Deverill having re-
igned the management of the Lunalilo
Home, Mrs. NJ. j. Forbes is reported to
ave accepted the position a: an annual
alary OF $500. Mrs. Forbes has put in a
eport of her management of the Luna
10 Home since the resignation of Mr..
)everill.
For further information regarding the
rustees doings of the past year / beg
cave to refer your Honors to perusal
the report filed by VIM. o. Smith,
ne of the Trustees as we'll as to the re-
ort of the manager of the Lunalilo
lone. This report is respectfully sub
lifted, HENRY SMITH,
Honolulu, Sept. 4, 1889. Master.