The Hawaiian gazette., 1899-10-20
the HOLT ESTATE.
Supplemental Report OF
the Master.
ooeuvtse, ut the Es-ss- Cav Q
Thorough Gxan aaason-lossss
seousvso 20 Dc some EaSsiy-


exapsne the accounts Of the Holt e.
tate. has subnitted the following ssp-
pleDental report 20 the court:
MASTERS SUPPLEMENTAL RE-
PORT.
I NOE ask leave TO ale this a. . sup
plementsl report TO my report s'ed On
the Sth Instant:
I have repaired 70 the Once Of Bruce
Cartwrighf. trustee. for the purpose Of
exaDtning all the securities belonging
20 this estate.
The Oldest note IL the one given by
John d. Holt 6r., mOrtgngor. for the
sum Of q .ees.es, which has been re-
duced 20 q balance Of elJss0. II vas
acce, ted by the late James ". Austin.
the tnen trustee. ON October 6. 1870.
and Ii secured by the mo-tgsgor .
81 800 policy Of insurance on his Life Is
sued by the Equitable Society Of New
York II appeA.s 20 the master that
this loan In secure. in view Of the fact
that the trustee pays over 20 the mort
gagor as beneficiary Of the estate only
what remains of ms share Of the In
come In this estate after ced1e-fnz
what is due ana owing ~ the bese1-
ciary to the estate
The only security which has zsfog-
tuuately proved los 60 the estate vas
a mortgage given by one william H
in w1il1ku. Ifisrd Of Maui The ,EOse
for the same Was originally zoo. and
upon foreclosure. tie property brought
the sum o. only SEQ. tie houses on
the land having been secretly sid and
removed from the land without the
mortgages kcOrjedge or consent
After the foreclosure proceedings. q
judgment was procured by the trustee
against said Cummings. Who. IL zp-
pears. was q Government beneficiary
and Vas drawing . SALARY. for the bal
anoe due upon his note This tstz-
menf enabled the trustee 10 xzrn-shee
Is per cent Of Cummings salary up ~
the time the neu Audit Act vent into
effect. since which time nothing has
been collected upon the j1dgme1f. and
the sum Of Sl.4zl9S Ia nos the amount
short Of the original loan ] find that
the moftgage On this loan vas accept
ed February 8. 1851. by tbe present
trustees predecenoor, A J.CartwYight,
vho died July II. 199z- Question:
Cpoa who0 should this Ioas fall? Tn
loan appeafs 20 have been 0a6e By the
deceased trustee in apparently good
faith. and another excuse offered r. the
fact that said deceased trustee yAs moi
in . positioa 70 personally inspect the
real property which vas sold. IL beine
situate o. the Island Of Maui A pre-
vi0as 00rtGage vas exhibited TO the
master showing that Nessrs- Allen Z
Robinson. merchants. accepted the
same property in security for theiI
loan Of $3.50 10 said Cummings. and
in all probability. this transaction va
the cause Of the late Mr.. Cartwright
acceptance of ehe security offered fol
a new loan upon the same property: II
also shows that the late trustee was q
little more prudential than Messrs- Al
len & Robinson. for the amount Of theiI
loan was $50 more than Mr.. Cart
wright's.
The foregoing circumstances yer,
narrated 70 the master in excavation
but whether or not they are suAicieAl
to show that the deceased trustee had
used more than ordinary care or eau
ton in his acceptance Of said loan, q
Ii solely for the court to decide.
Should II be held that the loss fal
upon the estate. II II only fair that III,
same should be equalised among all tn
bene6ciaTies TO be deducted from thu
next rent distribution. a. follows:
One-third TO be borne by
James r. Holt Sr. ....--..S 4s4 q
One-third TO be borne by John
ID. Holt Sr. ................ 454 y
One-third TO be subdivided
into nine equal parts and be
borne by the heirs Of o. J.
Holt ..----.-...----.--- 4I4 =
Total deficiency. on Cum
ming's loan ,4z4 o
And whatever Is collected hereafte
upon the Judgment due by Cumming
should be distributed TO the beneAciar
les In like proportion.
The only bonds owned by the estat
are ave 500 denomination In the Oahl
Railway 4 Land Co.'S stock. certih
and one numbered 1Gs.
The largest real estate loan is to on
John ID. Holt Jr.. for the sum Of % y00l
uOw beoOoeo " WV u ~ bOI toJo
years from March ~. 1885. rate Of In
terest 6h per cent From the master
personal knoviedge of the lands Gov
cred by this mortgage. II IL safe To re
port that the security offered for thi
loan Is ample.
do not feel disposed 10 report O
the sufacieney OF the loans made o.
real estate situate outside of H0pOIu
lu. ! will report, however, that, ~ nj
the mortgages ieKoept the one sb0y
mentioned Eiyensky John ID. Holt JS,
are past maturity, = sure test Of fbsi
sumcieney II 10 require III Ha0rfgsgOr
10 settle them or give further addition
nj securities, II ~ u - required w ID
next trustee.
Following are the loans secured h
real estate outside VI Honolulu
., N, Monsatrst, lands IN No
Ds, Hawaii; ~ per cent, q S,5Dy .
. ~ NonssrJsi, lands IN Ia
L.. ~ A. 4 4 A