The Pacific commercial advertiser. [volume] (Honolulu, Hawaiian Islands) 1885-1921, 1899-10-19
PRICE FIVE cRNVa

made ID extremely interesting for hls-
nus The poor manis cEsdcnoe SHOWED
such ianensahie isnorance of the a.
fairs % his company ths; the attorney
gave hin up as a bad Sob. Nr. rAis
Said be really kncr little about she
matter. the books. accounts. lss;s of
stockholders. AID 90 forsh we've an In
the London o1scc- Qncsisoned ss On
where he obtained the ilss of xfoch-
holders coasained Ia The sissenenf os
the companyis Affairs nled with the In
terror ofscc yesterday. Mr. Pain vas
reluctantly compelled 90 admi; that ne
had made u up from the drafts s1ss
out from London 60 pay the izs; diss-
dend to the Honolnin ssockhoiccrs ny
dividing the amoun; of the draft ey
the divtdcnd. g. cents a share. he hs1
nxured out how much stock each mAs
held Personally. however. be had No
kno~ledxe of the cOnp&ny-s Aasirs or
vho the English stockholders vcre.
Tie also had a very haEy nosson atsovt
the $4,000 worth 90 nrs;-pr~s~rcsrs
d.bentures. az they call them sf hoDe.
and mas no; prepared to state whs1hss
they represented 90 much liability o.
60 much capital. being forced 90 Admit
that in some statements he had serDe1
i them liabilities while In others thsy
had bccn added IN ss part OF the cao-
tsai. What little nc did know shost
the company he was very much srsrur
to telling. and u naturally followed
Il that nc and his croEs-cxaminer had q
very pleasant little time of o. WHICH
lasted until nearly O'Clock In the ass-
crnoon.
The main facss Addnced were that
the Hawaiian Tramwzys Company has
s1ss. Coo Ia outstanding stock: that %
owes $50 coo Ia dcbcniurc bonds. md
that its available assets are tesJsea.
on .hich amount .; pays tzscs 60 fse
Hawaiian CovcrnmrnL As 60 sbe
; value of sis franchise. that IL = matter
for future disrnssSon. and was NOT rone
, into yesterday.
At = tcE minEics before q oiciock
: y. ". Hatch brseny addressed I'm
court. Corporations. he said had some
!. rights of which they conid NOT he asf,s-
. tr4rily deprived Mas "a fair. for In
: stance. for = siDckboldcr. acsnaied. &C
. course. by only the b~sa of motives. Co
!. bring his own corporation into court
!. and then dcny ste right TO drfesd
. itscifg As TO the motives Of The en-
tire PROCEEDINGS be did not care fo 60
J. into them: they must he apparent O.
}. the court and 20 everyone. Hc was
!. satisfied to leave The matter with fhe
|. court. feeling sure that ynsssce would
; bc done.
J. Attorney MctIsnahan thought dif-
;. fcrcntiy. \ plain statute must hr
: obcyed- The ls~ with regard 60 home
: corporations Was very ssrscs and wss
J. intcnded 60 be strictly enforced. n
J. this was 90 with home corpcrsssoas
: how much more strictly MAS the lao
10 be applied 10 a foreign oorporzssos
which had p-rs4s;ently esaded fbs
. law Ise offered 20 prooore some an
= thoritses. wben Jpdse Perry stopped
him. ssyins be ezs already tsmsiiss
with them.
;. In deciding the Dot5on JpdEr Perry
:. said that although the statute was
!. !. plzin that fOressn corporation failing
to comply with the uawaliAn statutes
;. could not bESnx sui; IN the Hawsissn
:. courts TO protect sts rights. ssHn ID
rnnst hold that = corporation had a,
least = right 60 defend Sss,lf wher
. hrouEhs inio court sse shonld Toe com.
PEELED TO bold that wsy. unsil the SO.
prrrnc Court decided dircrcnsiy. and
= hsnce uouid oroEEsle the fDosion.
.e Nr. NcClanahan said be wished q
is except 20 the 5ec8sson and asted shs
= court to allow The eScspison. 60 thai bs
D. rouid appeal therrfron.
E Judge Perry released to allow the en-.
n cspsion Or The appeal. ssyinR that Do
ic EOuld bear The ensire matter arss and
decide g. .: could then 60 60 the 50.
- preme Court a. . whole Instead of b,
u piecemesl-
- Nr. NcCisnahsn then asked for Tim.
ic 20 prepare exceptions TO The rulings o
" the court before going on.
Nr. Neumann. for the Trarn~sy,
,s Company. ccnounced the methods q,
y the other side In seeking 20 delay an,
a hearing of the raotion TO dissolve IN.
u injuncisoa IN rather warm Language
bat the court poured oil On the trou
- bled waters by announcing shst M
B. session would be heid today out of ~
- sPect 10 the tate Minssser q The Int
g. Esor and that Mr. McClanahaa coul,
"a have uniil Friday nOralng =, TN
~ opening of court TO prepare an the ca
n ccptSoas he Eaafed 20.