The Hawaiian star. [volume] (Honolulu [Oahu]) 1893-1912, 1893-05-29
COUNCIL MEETING.
The Weekly Finance Report-A New
Stamp Act-Porter Resigns.

and Councilmen except Councilmen
Suhr and Brown.
The regular weekly statement of the
Minister of Finance was read and
placed on file, as follows;
FINANCIAL STATEMENT FOR THE WEEK
ENDING MAY Fl, 1893.
Cash on hand May
20, 1893 ...... $780, S.
Receipts week, sale
Of bonds ...... $1,000 90
Receipts week, gen.
eral revenue. 22,2S5 79 a7,aS5 79|
sos, $40 "a
Gen. expenses for week....... 1904 sol
Cash on hand May 27....., $56,94r Isl
OUTSTANDING INDEBTEDNESS.
Treasury notes.. $4,000 90
=. NJ. G. notes.... 100000 90 $4,000 oo|
OVERDUE IND, BrEDNEss.
Treasury notes.. $4,000 90
p. NJ. c., treasury
notes.. ..... 10000 90 $I3o, 600 ooI
POSTAL SAVINGS BANK MEMO.
Excess Of Payments over Receipts
during the Biennial Period to
P. $. B. by Treasury. 49,. $37,s2r 60
Total note Withdrawals, Postal
Savings Bank, to August L.. 43,oS5 90
Total due depositors Postal Saw.
ings Bank this date. ........ 500, 2o2 50
Notices of Withdrawals maturing
this date not called for. 5,62S 90
Estimated Deps. this month . 1900 90
Excess Withdrawals over deposits
per past week ........... r,S47 50
Cash on hand P. S, B. this day $3.50 SO
EXPENSES PROVISIONAL GOVERNMENT
TO DATE.
Expenses Provisional Govern
ment to date .:....;..:..... OASIS 50
Expenses Provisional Govern
meut during week, ...... GIT 90
SECTION 2 MFMo.
Paid to date App. Sect. 2, App,
Bill 80. ................... 1894 90
Outstanding Bills, Sect. 2, App.
Bill .........."......... 47,ooo 90
MEMO. CASH IN TREASURY.
Silver in Treasury
to redeem Cert.
Sil............. sos, 600 90
Cert ............. $4,000 90 1000 90
Road Board Fund in Treasury. $500 60
School Board Fund in Treasury 636 90
Available as above. ........... 56,q4I IS
Total Cash in Treasury w 4o5, 3SI ID
Chairman Bolte, from the Military
Affairs Committee, reported favorably
on the request from Colonel Soper for
military supplies, as read in the last
meeting.
The Secretary read for the first time
an act relating to stamp duties, amend.
ing the Id law, which was drafted by
the Judiciary Committee as a substitute
for an act of the same nature intro.
duced some time ago by Councilman
Brown.
Att rney-General Smith advocated
the passage Of the original bill that
there be no possible loss in revenue
"There has been an income on an
average of $4,000 a year for some
years past from this source, said Mr.
Smith, "and it has been but little bur
den to the community On the theory
that we should not 90 into unnecessary
legislation we should not disturb the
present law on this subject. 1t is an
injustice to the community for large
incorporated stock companies to es-
cape this tax. 1t brings in a sub.
stantial revenue to this country 1t
only amounts to one fifth of one per
cent, and it falls upon those who can
afford to pay it. 1t is an eminently
fair tax and we should not change it,
there will be no tax of stock unless
there is change Of ownership in it."
The motion prevailed to postpone
the stamp act as proposed by Council
man Allen and the act providing that
officers ofC operations shall afix stamps
of the value of twenty cents for each
one hundred dollars or fraction thereof
of the par value of the shares of stock
represented or certified by such cert Fl
cate.
The bill passed to second reading.
Minister Porter rendered his resig-
nation as Minister of Finance and said
he would like to have it acted on i'm
medatey, as he wished to get away on
the Gaelic this afternoon, and that his
successor be appointed, as he had some
unfinished business to consult him
about, He paid high compliment to
the harmonious workingof the Coun-
ellis, and said that he had never met
such congenial lot Of men.
AttorneyGeneral Smith moved the
acceptance of the resignation; that he
knew under what conditions Mr.. Porter
h d accepted the position; that we had
thanks for his services and regret at
his Withdrawal.
The resignation was accepted.
Tenney nominated Mr., Damon for
the position, who was unanimously
elected, and at 3;I5 O'Clock the Coun
Gil went into Executive session.
PERSONAL.