Hawaii holomua = Progress. [volume] (Honolulu) 1893-1895, 1894-09-28
CORRESPONDENCE.

E-Dtau- tbe EtHutu t
..pr ] ctors ia.aHd to ia for Homo
lila. N1w on reading it over
the people Of Honolulu arr evil
IDENTITY not in it. and the bead
lines should have been What
/ the prof ctors inteud = do for
tbea'se YES
Section 3 says- The capital
stock f the conrany shall be
1925 900 of which 1925 GOO shall
( b. non-aSsess bic. After stating
the lib lity # shareholders f
assessabe stock. its,ys: The
non assesssble stock may b is
ed by the direct rs for the
co l.pens ttion and profit of the
I II ,dertakers and promoters Of the
Inject for whicn the company is
formed Then + rther along it
says: The stock may be issued
/ IS above provided. w.th prefer
, eut al or qualified right to divi-
lends. 70 make tbs Il little
palmer we viii state the propo-
sition IN another way.
First, the nndertaksrs and pro-
noters-sIx Canadian gent emen
and two FROM HonoIulu G s125,
N000 in stock for promoting the
&mpany. This does not cost
them one copper. and it is unass-
essabie. Now, dividing that by
eigA makes SIS 900 apiece aud
$ ON over for-yell work ng"
expeaASs. Remember we are
only Hluing the stock at 81 90
per share, a very low quotation.
The usual plan in British COL
umbia Oh promoting COM
rany is to\f first Issue a prospectus
which stan IS the lis, of promi-
nont gentleSen [if they have a
tile 50 mA ia the betterl who
b We subscriAd to the stock.
rh-se would u the eight gentle
men named, aA the amounts
would aggre gate \sl25. coo. OF
course these SINE pers rs are di.
reetors. Their fkends aud the
pnblic are then ilvited to sub
oribe. 1t is no\o%e supposed
that these eight gentlemen are
going to allow their\riends t.
huy their unassess ,bA stock.
Oh, no, they prefer to keNp that
for the preferred or qualified
liridenls, bat somehow or ther
nnasseSsable stock sells b\tt,r
tnan tina. to which Ii bilitieEat-
tach. 1t is such nice thing to
tell your friends that yol will let
them in on the ground hoor-ohly
for them to fnd out / ter that
there were some other fellows in
tha b sem Mt.
We nov come to the proposed
70 te, but not h wing any map We
will take that up alittle further on.
Aud while reading these sections
We wonder what are in all the
other portions of the franchise
which ar, left out The Advertiser
says, it publ she's only the most
important parts. WAT Is the
matter with publishing it al?
Are the public not interested or
IS this another case lise that of
the INN 'rtd William Vanderbilt
:. The public be d -dp
Secron II rh company shall
nave the right to buy; sell, mann
ftctnre electric m ,tors etc, aud
electrical appliances of III kinls
a d to be general de ,lers in cleo
tr cal supplies aal apparatus OF
any kind whatever. WAIT d ,es
this melasl If they OPEN up
store they o GIT to pay the year
IL license and the aunaal t,xe< GA
such goods. But perhaps this
may mean that ttey shall have
ne exclusives right to deal in cleo
tried 81 apiies, and is it ,leftly
inserted | this exclusive fran |
sh'sa SO as 10 shut out all oppo
'ition III this line. See Section
33and 81.
Section IS. The said Company
81 Ill commerce the construction
IF tie said tracks or railway lines
a { later than one year from the /
late of the charter herein grant /
II. aud shall complete and have |
.Aor ng ~ equipped. andin run /