The Pacific commercial advertiser. [volume] (Honolulu, Hawaiian Islands) 1885-1921, 1889-03-26

lilt lllllt itidl llt IlOlAlS DlllCtg DuN VI sell
sugar, or be interested directly or indi-
rectly in the purchase or sale of sugar,
whether for the purpose Of speculation or
otherwise, without a vote Of a majority
OF the members OF the entire board. For
any violation of this provision, he may
be removed as a member OF the board
and shall be liable 10 account for profits
which shall be realized by him to the
board for the pro rata benefit OF the GER
tiiiCate holders.
As it is desirable that the board shall
consist of members who are largely in
terested in the properties and the bust
ness contemplated, il is hereby agreed
that all members Of the board shall be
free 90 Join in or become parties to agree
mcuts and transactions which the sew
eral boards Of directors, hereinafter re-
ferred to, or this board, may arrange, to
the same extent and in the same man
ner, and with the like effect, as if they
were not members Of the board.
The said board may transfer, from
time TO time, to such persons as 1t may
be desired to constitute trustees or di-
rectOrs or other officers or corporations,
50 many OF the shares as may be neces-
sary for that purpose, to be held by
| them subject to the provisions of this
/ instrument. Such transfers may be ex-
ecuted by the president and treasurer Of
| the board, in behalf of and as attorneys
/ OF the board, for that purpose and to be
| re-transferred when so requested by the
/ board.
The first board shall consist of the
! persons hereinafter mentioned. They
/ shall hold office as follows, and until
/ their successors shall be elected:
MEMBERS OF THE FIRST CLASS.
Harry O. Havemeyer, F. O. Matthi-
| essen, John +. Searles, Jr., julius A.
Stursberg, to hold office seven years.
MEMBERS OF THE SECOND CLASS.
Theodore a. Havemeyer, Joseph B.
| Thomas, John Jurgensen; Hector c..
Havemeyer withdrew and Mr.. Parsons
substituted, to hold office five years.
MEMBERS OF THE THIRD CLASS.
Charles IL. Senff, William Dick, to
hold office three years.
At the expiration OF the terms of the
third class, and OF each successive class,
| their successors, as members of such
class, shall be elected for seven years.
OFFICERS.
The board shall appoint from its mem
| bers president, vice-president and
! treasurer, and it shall also appoint a
| secretary, who may or may not be a
| member of the board. The board may,
| from time 10 time, create other Offices
/ and appoint the persons to fill them. 1t
/ may appoint committees. 1t shall
! designate the duties and prescribe the
! powers of the several officers and com
! mittees.
| The several corporations, parties to
! this agreement, shall maintain their sep
! arate organization, and each shall carry
on and conduct it's own business.
The capital stock of each corporation
! shall be transferred to the board, and in
/ lieu OF the same, certificates not exceed
/ ing fifty millions of dollars, divided into
/ five hundred thousand shares, each OF
| one hundred dollars, shall be issued by
/ the board and distributed as hereinafter
! provided.
The certificate shall be in the follow
ing form:
No.. Shares.
Shares One Hundred Dollars Each.
THE SUGAR REFLNERIEs COMPANY.
This is to certify that. .... is entitled
tO......... shares of the Sugar Rein
cries Company.
This certificate is issued under and
subject to the provisions of a deed dated
the sixteenth day of August, one thou
! sand eight hundred and eighty-seyen.
The shares represented by this certifi-
cate are transferable by the holder and
his personal representatives in person or
| by attorney, upon the books of the
| board, and not otherwise, and only upon
the surrender of this certificate.
They entitle the holder to the rights
and are subject to the provisions men
toned in the deed.
Tho interest pf tho hOlIaV. iS in tho
! proportion OF the number of shares rep
| resented by this certificate to the entire
| number of shares outstanding. The total
amount represented by outstanding certi-
| hcates, and the terms OF the deed may
be changed from time to time by a ma
jority i'll interest as therein provided.
In witness whereof the board has
caused this certificate to be
signed by it's president and
L. $. treasurer, and the seal of the
board to be affixed hereto, the
day Of. .., one thousand
eight hundred and eighty.
For value received, ..........d do here
by assign, transfer and set over unto
.......... shares of those represented by
the within certificate, and. do hereby
constitute and appoint .... attorney
irrevocable, for. ........ and in...-....
name and stead, to transfer the said
shares upon the books kept for the pur-
pose under the direction OF the within
board.
The assignee by accepting this trans
fer assents to the terms of the deed re-
ierred to in the certificate jas the same
shall be changed from time to time.
Witness. ...... hand and seal this
....... day of. ......., one thousand
eight hundred and eighty .
The remainder of the documents