The Hawaiian gazette., 1899-06-09
All in Readiness isr Launching
The First American.
SOME PROMINENT NAMES
Huntington and Poiinz-The Staff.
A Hiio Branoh Col. mscfar-
Ians Is enthusiastic.
(From Thursdays DailyD

his Office in the Judd building yester-
day afternoon, having returned in the
morning by the Australia.
My homecoming was sooner than |
expected" said the Colonel. Il did
not intend to leave San Francisco un-
til the departure of the China. But /
received news that my wife was Ill and
j decided to come by the Australia. l
had to hurry around pretty lively. but
managed to get down to the Australia
with about ten minutes to spare.
MY mission was successful. ! COM
pleted all the necessary details prelim-
mary to the organization of the bank
here. l return with full powers for
the banks attorneys, Mr.. Hatch and
Mr.. Brown, together with myself, to
apply for the charter and to incorpor-
ate as soon as the charter Is issued by
the Interior Department.
The present issue of the 100000
capitalization has been $75O,OOO, two
thirds Of which, or $500, 200, will be the
first call upon the stockholders. There
will be held in the treasury for future
issue $25O,OOO of the stock. OF the
amount now issued and subscribed for
$500 900 has been allotted to Honolulu.
The remaining $450.O0O will be divided
between San Francisco and New
York"
lis 1t true that Coils p. Huntington
is a stakeholder" was asked.
Yes, he is among the New York
holders and subscribed for all the
stock we could give him. Mr.. IL. p.
Schwerin, president of the p. NJ. s. s.
Co., and Mr.. Huntington's California
representative, is also heavily inter-
ested In the bank. Yes II Is also true
that Mr.. POLITE is among the principal
San Francisco stockholders. There are
a number of other well known capital
lists interested, among whom are Allen
L. Lewis, Hecht Bros, N. Ohlandt and
Williams, Dimond Il Co., and many
others identified with Island business.
Yes, Mr.. Jas. Campbell is one of cur
principal stockholders. He hollis the
largest individual block of stock, but
like everybody else has been cut down
one-half. This holding, Of course, in
the First American Bank, the prelim-
mary organization to the First Ma
tional, is limited. But as the latter in
stitution will have authority to issue
up to 81, OOO, OOO Mr.. Campbell will
probably have larger holdings in the
First National and will back 1t 20 the
fullest extent.
THE bank will commence business
H. cod a
elect officers. The officers will be NOM
mated from San Francisco and the list
will probably reach us by the China.
] may say that J. o. Carter has been
nominated by Mr.. Jas. Campbell for
president and manager, and the syn
dictate was unanimously agreed upon
such appointment The Board of Di-
rectors at my leaving had not been
fully decided upon.
THE Anglo California Bank bad
nominated Mr.. Cooper as acting
cashier and chief accountant, to hold
such position until the organization OF
the First National Bank, when New
York cashier of large experience and
thoroughly grounded in National Bank
affairs, will be appointed. Mr.. Cooper
has for ten years been the chief ac-
countant of the Anglo-C California, and
has accepted the position in the new
bank as his health demands q chang
of climate.
Mr.. Heath nominated by telegram
from Washington Mr.. T.. M. Boyd fol
secretary and assistant accountant
He was until recently on the staff OF
the San Francisco Chronicle, being in
charge Of the Associated Press work
on that paper. He Is well known In
Washington amorg Senators and Con
gressmen, where's he has had close re-
lations with Mr.. Heath. The other Of
ficers will probably be appointed from
this side by the president and board OF
directors.
Mr.. Lilienthal will visit New York
and Washington before making his
Honolulu visit, as he Is needed there
with the Seligmans to consult with the
Secretary of the Treasury in connec.
ton with the formation of the First
National Bank, which will be estab'
Iished directly when territorial legis.
lation for Hawaii is effected by Con
gTess.
Honolulu subscribers receive one
half of the amount applied for. This
allotment has been made with all the
subscribers. The exact pro rata ap
portionment was As per cent and 6
fraction, but through one Of the sub
scribers giving way bit the allotment
was adjusted so as to make an even .,
per cent.
THE first call on stockholders vii
he GO 2-3 per cent on the amount al
lotted them. This includes the deposit
already made. The remainder OF thu
subscription will be called up as sooi
as the Board of Directors decide tina
employment can be found for II. The
first call Of SO 2-3 per cent will be mad'
shortly after organization,
Il hope the machinery OF the banl
viii he set In motion some time be
tween July lst and August lst Thu
papers have all been prepared by th'
attorneys on both sides and are nov
In readiness 10 be passed ON at meet
ing for that purpose The banks loca