The Pacific commercial advertiser. [volume] (Honolulu, Hawaiian Islands) 1885-1921, 1900-01-30
H, RI T.&L.CO,
The Annual Meeting of
Yesterday.
Report Of Manager C. G. BalIentyne
Officers Elected and Contracts
for Material Let.

holders OF the Honolulu Rapid Transit
& Land Company was held yesterday
az the Office of the company. There
were 1.f9S shares out Of $500 repre-
scented. The old board OF officers were
reelected for the coming year. the
name of c. H. Atherton being added
thereto. The officers are now as fol-
lows: l. A. Thurston, president:
James B. Castle. vice president: J. A
Gilman. secretary; J. H. Fisher. treas
urer; ]. A. Kennedy. auditor: c. G.
Balientyne, manager. Directors--W.
R. Castle. J. A. McCandless. c. II. Ath-
ertOn and T. F. Lansing.
The managers report for the year
was read. as follows:
Honolulu January %, 1900
The President and Stockholders Of the
Honolulu Rapid Transit & Land
Company.
| Gentlemen: At this. the first regu-
lar annual meeting Of the stockholders
of the Honolulu Rapid Transit & Land
company, the following report to the
31st of December. 1899. Of the COM
pany's condition and the progress
lmede. is submitted for your considera-
ton:
AS you are doubtless aware, the
company was incorporated on the Both
lday Of August, 1898. in accordance with
the requirements of Section "a. Of
Chapter 80. of the Laws of 1898. being
ithe franchise granted to c. G.. Ballen-
tyne and others, which franchise was
tduly assigned 10 the Honolulu Rapid
Transit & Land Company In the
lcharter OF incorporation the capital
was fixed at 5000. 900. with the privi-
lege, under certain conditions. of in
icreasing the same TO s., 900 600 Upon
the preparation of estimates covering
the full cost of the construction and
equipment of twenty 900 miles
of track, power house. car barn and
other structures, ii was found that Il
lwould be necessary 10 expend, approx
4 imately. 100000. To provide this il
was decided TO increase the capital to
$500 goo and issue bonds for another
I S3OOOO0. the authority for which was
lgiven at a special stockholders meet
ling held on the 18th of September.
il1S99. OF this inereals in the capital
lEADlh eNV ElAhltc nave DrEu A-Eutus
fleaving 500 shares, or $50, TOO. still in
the treasury to be issued when the re-
quirements demand. Six assessments
on $250.000 have been called. and Sll5.-
500 has been paid in, leaving on the
l31st of December S34 500 outstanding
! (of this amount about SIS, 900 has since
been paid I'M.
n The premises formerly occupied by
Mrs. E. c. Damon, on Beretania. Young
land Alapai streets, containing 15-1OO
acres. has been acquired at a cost OF
| 1913 900 for car barn. power house and
lother purposes. The directors were
particularly fotunate in being able TO
tobtain this site, as IL is very close 10
1.-THE center point of distribution. and
has sufficient area for all our require
iments, present and prospective.
The question OF the system 20 be
tadOpted has been given a great deal OF
consideration by the Board. and after
Icarefully weighing the merits Of COM
pressed air and electricity. the latter
was finally decided upon. because its
capabilities are well understood where
as the use of compressed air. at high
lpressure. Is only in it's infancy. and
considerable experimenting has yet 10
be done.
The following contracts for equip
tment and material have been made:
Pennsylvania Steel Company. 1000
tons rails; Westinghouse Electric &
/ Manufacturing Co. generators and mo-
4 tors: American Car Company. q cars:
I Duplex Car Company. 5 cars; J. G.
Brill Company. car trucks: Hamilton
D a -
iengines: Babcock d Wilcox. 3 25O-horse-
power boilers: Diamond State Steel
Co. rods. bolts. spikes. etc; Mayer &
lEnglund. copper bands. Miiliken
Bros. steel trusses and stack. making
la total Of S264.91
Messrs. W. II. CrOssmlu & Bro. have
been appointed our agents at New
York. and we have now al credit with
them 800 900. 20 apply on account OF
these contracts.
The work Of the construction Of the
power house and car barn have been
begun. and it is expected the first ship
ment OF our material viii arrive in
May or June. when active work will
begin. Unless We are disappointed in
our expectation. We hope 20 have al
least ten GW miles Of the road con-
structed and in operation by the end
b OF the present year. This win b. wei
within the time limit allowed in the
franchise
The financial statement from -hs
cCmpany's inception mp 90 the 5lst OF
December IS submitted for your con-
sidsratiCn
The directors for the ensuing veal
win require 90 be elected.
Respectfully submitted.
G.. g.. BsLLENTNNE-
Manager =. y. r. & L. Co.