The Hawaiian star. [volume] (Honolulu [Oahu]) 1893-1912, 1895-07-13

sHuutny shall pe rive Hundred Ihuus /
and ID ilars. tuf which tweni, PEI cent /
naii ue nun.asseseHbl,D. aud shall 3D. /
issued In such manner ~ the dne,tuts /
may determine.
The htbiit, uf any Shareholder ct I
issrssahle stock shall he limited To- III, /
unpaid portion, " any of his or hen /
thlrcs IN the capital stuck OF the Com.
pany. The non-asscs abb stock may
e. Issued 10y the dIfvclots tot the cun
,ens alton aud profit ct the undertaken
aud promoters OF the ohie Is for which
enc Company IL formed, aud no stock IN
excess Ut the amount If the capt al stock
suail be issued without the consent ~
the executive cuuncil ut he Republic Il
Hawaii, upon good reasons shawn there
ior, aud with theapproval 1T malputl,
"a value, OF TIM shareholders The
st ck mHy bee .ssuei us ABOVE provided,
with preferential OF qualified r,ght to-
dividends
Spcion 4. The stock shall be deemed
personal estate aud shall he transferable
/ la such way as tie directors shall 10y by
] law direct.
Section 5. The per.ons above mention.
ed shall bo the provisional directors,
amt shall hold office rs s oh, until other
directors are appointed under provi-
5ions of this chart r, by the shareholders,
and shall have power Ia iill the place on
/ places of any Of their number which
may become vacant. aud g. Op, n stock
backs. and procure subscriptions for the
undertaking. to make calls upon the
Subscribers, to cause surveys add plans
to be- executed an they are invested
with all the powers rs under this charter
are vested IN ordinary directors.
Section @. A soon as ON hundred
/ Thousand dollars of the CAPT al stick
shall have been subscribed, the share
holders stall proceed 10 he election #
a Board ot Directors for the aid Cu.u
/ pany, and the Provisional directors, ~
/ ma jOrity of them, shall cali meetin.
1 OF the shareh ldprs for that purp Sc, ms
giving SIX weeks notice thereof, by pub 3.
/ CaJiUn, 4, the shareholders
/ Section :. The Board of Directors q
/ whom a majority shall he residents e.
l the Hawaiian lslinds. shall he electe
at the meeting t. he called. as pruvide'
Tor in the preceding section, each OF
whom shall he holder Of not less thai
ten shares. such election, and every
question to be decided at such election
shall he decided by IA majority of the
votes of stockholders present Ia person.
or represented by written proxy, each
share to have one vote. The direct Is
so chosen. shalt Immediately elect one
of their own number to be pre- ident. and
one to be vice president; which president
and directors shall 90 tinue in office fol
one year, and until such others shall he
chosen to fill their places, and If any
vacancy shall at any time happen by
death, resignation, or Otherwise, during
the said year in the office of president
vice-president or directors, the remain
ing directors shall elect some qualified
person to fill such vacancy for The lie
mainder OF the wear; and the election ul
directors shall lake place annually, either
on the anniversary of the day of the
first election of directors Or such Other
day as may be fixed by bylaws as herein
after provided.
Section =. II the election of director,
be not made on he day ap ointed, the
Company shall not, for that reason. b'
dissolved, but the shareholders may hole
the election on any other day in The
manner provided for. by any bylaw
passed for that p 'rpose, and all acts %
directors. until their successors are hp
pointed shall be valid and binding ur
the Company.
Section 8 The directors shall exercise
as hereinafter provided, and shall have
full power to make all bylaws or resolu
tions for the management of the iom
pany, the requirement, management
aud disposition of its stocks, prupert.
and effects. and of its affairs aud busl
ness, the entering INTO agreements att
contracts, the declaration and paymen
OF dividends out of the profits OF tn
Company, the form and issuing of share
certificates and the transfer of shares
the calling of special and general meet
ings OF the Company, the appointment
and remuneration and removal OF al
officers. agents, workmen and servant
of the company; the rules tn he observe
by the officers and servants of the Com
pany, and all Other persons using TIL
always, rails, electric lines, electricity
electrical, or other appliances or propert
of the Company whatsoever; the remu
neratiOn tor the transfer and dt llvei
of all or any goods, chattels aud Effects
transferred and delivered through agen
cy of the said Company, and in genera
to do all things that may be uecessnr
to carry out the objects and exercise an
and all powers incident to the Company
Section 10. The directors may from
time to time raise and borrow for tn
BIht6 VI llN company SUM- SUM
sums of money, upon such terms, AM
in such manner, as they may deem ex
pedienl, and may issue bonds or deb II
lures of the Company, lin lieu of tn
issue of said assessable stock, or an.
part thereby not exceeding the sum o
Five Hundred Thousand Dollars, IL
sums of not less than one hundred dol
lars each, and on such terms and credit
aud at such prices as they may thinl
proper, and may pledge ur mortgage al
tine tolls, incomes, revenues, CATER de
Quoting from such tolls aud revenue
the working expenses.) franchises, uu
called capital. and property, both rea
and personal whether then acquired q
that may thereafter be acquired) OF TIL
Company, or any part there of, tor III
repay ment of the monies so raised AM
borrowed, and the interest thereon; an
any such mortgage deed may contain
such description of the property, tolls
incomes, franchises, uncalled capital u
property, real and personal, (acquire'
or to be acquired mortgage by sucl
de ed and upon such conditions respect
ing the payment OF the bonds or deben
. lures secured thereby, and of the inter
est thereon; and the remedies whicI
shall be enjoyed by the holder of sue
| DOnuS, OF ny any tfhsiet vi tusNees L.
them, in default of such payment. an
the enforcement of such remedies; an
NAV provide for such forfeiture an
penalties in default of such pay ment. a
may be approved by the directors, an
NAV also contain, with the approve
aforesaid, autho 'ity 10 the trustee q
trustees upon such default, as one o
such remedies, TO take possession Of tn
said properly so mortgaged. and to hol
and run the same for the benefit of tn
bondholders thereof, for time to Il
limited By such deed; or to lease, or t
sell the said property so mortgagec
after such delay and upon such term
and conditions. as may he stated :
such deed; aud in case of any sue
lease or sale, the lessee or purchase
shall have the right to exercise all III
powers and franchises by this charte
conferred upon the Company. and tn
said property shall continue TO be he'll
and operated under the provisions o
this cha rter, and such lessee or purchase
shall have the same ri hts, powers. pr
yIleges, and franchises, and shall stan
!, in the same position as regards the saI
tolls, incomes. franchises, powers, un
called capital and property, real an'
personal, as the Company itself unde
/ this charter. And such deed may contain
all such other provisions as shall pur
mort with like approyaD 10 grant sucl