The Hawaiian star. [volume] (Honolulu [Oahu]) 1893-1912, 1900-05-26
CONDITION Of MANALHTE JAPANESE At DNA AANB FOR CELEBRATION
A PROPOSITION MADE BY w. II.
PAIN.
Would Take Agency From Gear, Ian
sing & Company and Put 1t in His
own Pocket-Account Of the Meeting.

stockholders Of Maunalei plantation
were TO have had business meeting
this morning, but a majority of the
stock was not represented and nothing
definite could be done. However, there
was considerable tallSee-talkee, in
which the plans of an element of the
! stockholders developed or came out.
IL seems that assessments on about
400 shares of Maunalei have not been
kept up. The shares were advertised
beumes and some actually sold. This
is old history. As is usual i'm such
cases the world over some of the de-
linquents found fault with the direc-
tors and gave that as their reason for
not paying. They said: Give us a
new set of officers and we will pay
exactly as the Kamalo stockholders
had done.
w. II. Pain, one of the stockholders
took the matter up, presumably to find
out exactly where the trouble lay. His
| first step was to interview the delin-
quents. He then issued a circular let
! ter to them proposing a slate of off,
GERS, which included the ousting Of
Gear Lansing & Company as agents
and the substitution of he, himself,
| Pain.
This circular went to every stock
| holder. The "delinquents" were all
seen and promised to be at the meet
prove up to their veracity. When the
roll was called it was seen that 3S10
shares of stock were represented, and
this was stock upon which assessments
had been paid. A majority of the stock
is 5001 shares. BY running in the treas
ury stock the meeting was still over
400 shares short.
Mr. Pain made remarks in which he
outlined the general project. Mr.. Lam
| sing also had a few words to say, call
! ing attention to the necessity of pay
/ ing at once. A vote was taken and the
stockholders present endorsed the rec
Ommendation provided enough of the
unpresented stock would endorse it.
The circular sent around by Mr.. Pain
was as follows
The affairs of this company having
now reached a stage where a change
is absolutely required, the following
proposal is now placed before you
which think will meet everyone's ap-
proval. 1t is absolutely assured by DIR.
Maxwells certificate, dated April 18th,
that the water is suitable, and the
managers certificate that there Is
plenty of 1t, and the soil is some of the
best for sugar to be found on the ISL
ands.. This brings us to the question
of finances. which at present are none
of the best, and the following is the
proposal that each shareholder will un-
dertake to pay up 35 per cent more on
his shares in calls at about the follow
ing time: per cent during May,
per cent during June, 10 per cent Sep
tember 1st, 10 per cent November LIST
and per cent December 20.
The following is the proposed new
board and agents, viz:
President-Robert Cation.
Treasurer and Agent-W. II. Pain.
Secretary-A. V. Gear.
| Vice President-T. F. Lansing.
| Auditor-A. Garvie.
Directors-Wm. Stoddart, c. X. All.
! The money raised by the assessment
is proposed to be dealt with as follows
viz:
1t being impossible to get a new mil
ready for the present crop, even If we
had the money in our hand, new en-
gine boiler and a new nine-roller mil
lequipment can be purchased and set VI
and we know of enough portions of {
mill to complete the outfit, which car
be got and put up at an expense no
to exceed 5000, 900. This together will
the running expenses of say $4,000 {
month would absorb 100000. Then tn
revenue derived from the cane from
200 acres at 8 tons per acre, 900 tons
4 1-16 cents, $130,000 (the whole of THU
sum will be lost unless something Il
done at once to grind by next year, 81
il follows that If the shareholders VIII
give guarantee to pay up the small
assessment called for, all should b.
we'll, and unless this promise is givei
and carried out. / desire to have no
thing to do with the proposition. l
.. will no doubt be asked what 1 expec
to get out of it. This 1 am perfecti'
willing to leave to your vote, after tn
! result has been obtained. Should yo'
be unable to attend the meeting
should feel obliged if you signify you
assent and fill up the enclosed proX.
and return the same before Saturda,
next.
/ may add that this proposal has al
! ready received the approval of NOR
than one-half of the shareholders.
Yours truly,