Evening bulletin. [volume] (Honolulu [Oahu, Hawaii]) 1895-1912, 1895-07-05
ELECTRIC RAILWAY co.
CONTINUATION or THE ACT OR
INCORPORATION.
Powersand Duties oTthe Directors In
this Issuing OF fBonds and Other
Matters
(Continued from July 81

Section 8. The directors shall
exercise all the powers Of the Com
pany, except as hereinafter pro-
vided, and shall have full power
to make all bylaws Or resolutions
for the management Of the Com
pany, the requirement, manage
ment and disposition of It's stocks,
property and effects, and of it's
affairs and business, the entering
into agreements and contracts the
declaration and payment of divi-
dends out of the profits of the Com
pauy, the form and issuing of
shares, certificates, and the trans
fer of shares, the calling of special
and general meetings of the Com
pany, the appointment and remu-
neration and removal of all Off
GERS, agents, clerks, workmen and
servants of the Company; the
rules to be observed by the Off
GERS and servants of the Company,
and all other persons using~Sthe
railways, rails electic lines, elec-
tricity, electrical, or other appli-
ances or property of the Company
whatsoever; the remuneration for
the transfer and delivery of all or
any goods, chattels and effects,
transferred and delivered through
agency of the said Company, and
in general to do all things that
may be necessary to carry out the
objects and exercise any and all
powers incident to the Company
Section 10. The directors may
from time to time raise and bor-
row for the purposes of the Com
pany, such sum or sums of money,
upon such terms, and in such
manner, as they may deem ex.
pedient, and may issue bonds OF
debentures of the Company lin lieu
Of the issue of said assessabIt
stock, or any part thereof) not ex,
seeding the sum of Five Hundred
Thousand Dollars, in sums of not
less than one hundred dollars
each, and on such terms and cre-
dit, and at such prices as they
may think proper, and may pledgt
or mortgage all the tolls, incomes
revenues, (after deducting from
such tolls and revenues the work
ing expenses,l franchises, un-
called capital, and property, both
real and personal whether ther
>, acquired or that may thereafter
be acqulred) of the Company, ol
any part thereof, for the repay
ment of the monies so raised anC
borrowed, and the interest there
on; and any such mortgage deco
) may contain such description O.
3 the property, tolls, incomes
. franchises, uncalled capital ol
. property, real and personal
) acquired or to be acquired
D mortgage by such deed and up,
5 on such conditions respecting
& the payment of the bonds o
= debentures secured thereby, ant
. of the interest thereon; and tn,
3 remedies which shall be enjoyed
3 by the holder of such bonds, o
9 by any trustee or trustees TO
< them, in default of such payment
and the enforcement Of sue
n remedies; aud may provide TO
U such forfeiture aud penalties il
3 default of such payment, as ma
= be approved by the directors, an,
@ may also coatain, with the ap
prova aforesaid, authority to tn
trustee or trustees upon such de
|. fault, as one of such remedies, t
take possession of the paid pro
:, perty so mortgaged, and to hol
l. and run the same for the benef
of the bondholders, thereof, for
time to be limited by sue
deed; or lease, or to sell tn
: said property so mortgage(
after such delay and upon sue
terms and conditions, as may b
stated in such deed; and in case {