The Pacific commercial advertiser. [volume] (Honolulu, Hawaiian Islands) 1885-1921, 1899-07-31
Full Text Of The ANIMAL Report
Of The Trustees.
IMPROVEMENTS At THE SCHOOLS
Inventory of the Property on Haud-Lauas
Acquired ard Lands Sold IN
The Year.

One OF the clauses in the will OF the
| late Bernice Pauahi Bishop directs that
the greatest publicity compatible with
the welfare of the estate shall be Civ
en- to all matters connected with her
estate, and in addition to filing the ac-
counts of receipts and expenditures Of
the estate annually the Trustees are
! further required to file with the Cir
cuit Court a report of its condition and
affairs from year to year. Below will
be found the report just fled for the
past year:
| The Trustees under the Will of the
! late Mrs. Il. Il. Bishop beg to- submit
! their report for the year ending
/ June SOth, 1899.
! The usual accounts are herewith pre-
! sented:
( The total receipts from all
| sources during the year.
! including cash on hand on
me 1st day of July, 1898.
: amounted to ............ST .-. SEQ so
And the total amount of ex-
penditure on every ac-
count was ............... 3i1 .2O5 -
Leaving a balance on hand
or OBSERVATION-DISCLOSURES. 1901 50
In re the bill of relief applied for
/ from the Court in connection with a
! construction of the will of the late
Mrs. Il. p. Bishop and the various trust
deeds under which the Trustees mold
property. referred to- as having been
carried to the Supreme Court for juris-
diction in the last Annual Report. de-
cision was handed down by that body
on October 18th. 1898. t. this effect:
! Held, The Trustees, in the exercise of
sound discretion as to- the best in
terest of the estate, may sell lands
without application to- a Court of Equi-
= ~ for permission so to- do.
By the death of Auhea Cwl on Nav
18th, 1899, and the death of Princess
kaiulani. on March 9th. 1899. devisees
under the will of Bernice Il. Bishop. the
lands devised to them for a life estate.
viz: lot on Punchbowl street. Homo
lulu, TO Auhea (w). and land and
spring known as Kaniwai. Waikiki
uka, Oahu, to Princess kaiulani, have
reverted to the control of the Trustees.
The Trustees have during the past
year commenced the filling in and inn
proving of the large tract of land
known as kakaako. situate on the
southeast side of the city. this proper
~ having come into demand as sites
for iron works, warehouses. etc.
The constantly increasing interests
of the estate in connection with the
lands controlled has necessitated the
employing of competent person to
take charge of the land department.
and the services OF Mr.. +. :. Dodge. a
gentleman for many years prominent
in the Government survey department
employ. have been secured.
The Trustees. in granting long-teTm
leases of agricultural lands during the
! past year, have adopted = rental sys-
TEN based upon a percentage OF gross
products derived from the lands de
missed when such gross products shall
exceed a fixed minimum valuation.
/ This system is deemed best under long
term leases.
! \ comparison of former accounts
with the one submitted will show a
substantial increase of revenue re-
turns over all returns OF other years
since the estate came under the control
of the Trustees.
KAMEHAMEHA SCHOOLS.