The Independent. [volume] (Honolulu, H.I.) 1895-1905, 1895-07-03
Continued from LIST Paoe)

sonal whether then acquired or
that may thereafter be acquired) Of
the Company, or any part thereof,
for the payment OF the moneys so
raised and borrowed, and the inter-
est thereon; and any such mortgage
deed may contain such description
of the property, tolls, incomes, fran.
chises, uncalled capital or property,
real and personal, acquired or to be
acquired), mortgaged by such deed
aud upon such conditions respecting
the payment Of the bonds or deben-
lures secured thereby, and Of the in
terest thereon; aud the remedies
which shall be enjoyed by the hold
er OF such bonds, or by any trustee
or trustees for them, in default OF
such payment, and the enforcement
of such remedies; and may provide
for such forfeiture and penalties in
default of such payment, as may be-
approved by the directors, and may
also contain, with the approval
aforesaid, authority to the trustee or
trustees upon such default, as one
of such remedies, to take possession
Of the said property so mortgaged,
and to hold ard run the same for
the benefit OF the bondholders
thereof, for time to be limited by
such deed; or to lease, or to sell the
said property so mortgaged, after
such delay and upon such terms and
conditions, as may be stated in such
deed; and ia case of any such lease
or sale, the lessee or purchaser shall
have the right to exercise all the
powers and franchises by this chart
er conferred upon the Company,
and said property shall continue to
be held and operated under the pro-
visions of this charter, and such
lessee or purchaser shall have the
same rights, powers, privileges, and
franchises, and shall stand in the
same position as regards the said
tolls, incomes, franchises, powers,
uncalled capital and property, real
and personal, as the Company itself
under this charter. And such deed
may contain all such other provi.
sions as shall purport with like ap-
provaD to grant such further and
other powers and privileges to such
trustee or trustees, and to such
bondholders, as are not contrary to
law, or the provisions of this charter,
and all the powers, rights and reme-
dies so provided for in such mort
gage deed shall be valid and bind.
ing and available to the said bond
holders in manner and form as
therein provided.
SECTION IL. The bonds or de.
beptures authorized by this chart
or to be issued upon the property
of the Company, may be so issued
in whole or in part, in the denomi-
nations of dollars or pounds ster
ling, or both of them, and the cou
pons may be for payment in the de
nominations similar to those of thu
bonds to which they are attached
and the whole or any of such bond
may be pledged, negotiated or solo
upon such conditions, and at sucl
price as the Board of Directors shall
from time to time determine.
SECTION II. The Company are
|. hereby authorized and empowered
to construct, complete, equip, main
tain and operate single track stree
railway, with all the necessar
switches, side-tracks, turnout, poles
wires, underground wires, conduit'
and other requisite appliances i
connection Herewith, for the passag
of cars, carriages and other vehicle
adapted to the same, upon and alon
the following streets in the city c
Honolulu, and upon and along tn
road or roads adjacent to the sal
city; commencing at the junction {
, Judd aud Liliha streets, thence in
south westerly direction along Lii
ha street To King street. thent