Evening bulletin. [volume] (Honolulu [Oahu, Hawaii]) 1895-1912, 1902-04-25
TWO MILLION DOLLARS FOR
MCBRYDE co.
AUTHORIZED BY RESOLUTION
Continued from page IL

,r have been weighed IN the balance
ana not found wanting All in this
country remember well the passage oi
the Mckinley bill (the free sugar nctJ
Ia 1891 and the shock it gave to the
community and all who were connect
I'd financially with us in the United
states. when We were confronted with
tree sugar in the United States. our
cnly market. The general belief was
among the ablcst thinkers we have
mat We should not under those COndi'
tons be able to get back an old dollar
lCr new one.
The result was that economic meth.
rdy were put in force everywhere in
these Islands and the best plantations
then existing here. which are now
among the small ones. not only held
their own but some Of them paid from
. to 10 per cent dividends.
II bolicv" that we shall be able to
meet any conditions that may arise in
the sugar world and be able to exist
N competition with any other sugar,
Producing country.
Bonding Resolution.
Following the remarks of Mr.. Dill.
iingnam. tn" resolution, as follows
HaS adopted;
Whereas. the McI}ryde Sugar Com
pany, Limited heretofore, to wit. or
me LIST day ~ July. \. u. 1900, ISSUED
bonds to the amount of $3.50, 900 secur
Cd 10y deed Of trust upon certain prop
"rt! OF said company, which said
bonds have been sold and disposed Of
and
Whereas. since the date of the issu
arce Of said bonds, over 81, 100000 has
been expended upon the property oil
s"id McHrydc Sugar Company. Limit.
cd in permanent Improvements, for
which said sums. az well as for other
put!ays, the company is now indebted
ia the sum Of $4,000 upon open ac,
count in excess Of the amount sccur,
~ by said original bonds. and
Whereas, additional permanent i'm
rIuvenents to the property OF the
company will from time to time be re.
Quiled to be made In The future as the
property OF the company is developed
aEG
whereas, 1t is considered eXpedient
ana necessary in the interests of
said company that all Of its present
obligations, including said original
Lund issue, be discharged and liQuida.
t"' or otherwise provided for, by a
new bond issue which will also pro.
vide for future outlays and eNpeudi.
lures as hcrcinabove set forth: now
therefore be n
Resolved by the stockholders Of the
McBryde Sugar Company, Limited
That the company be authorized to
increase it's bonded Indebtedness to
sum total OF two million dollars 49,.
O0o,000) for the purpose of discharg.
ing all existing obligations of the
cDmpany and to provide for the fur.
ther development Of the property and
brslness of the company as herein.
above rccited; and. be it further
Resolved, That to effectuato the
pr.m misses the board of directors OF the
company be authorized 10 issue mort
gage bonds to said amount of two mil,
ion dollars, in such denominations as
they shall deem best. bearing interest
AZ rate not to exceed 4 per cent per
aEnum, payable semi.annually, net
above all deductions and taxes. which
may be levied or assessed in the Ter,
ritory Of Hawaii, said bonds to be
payable at such period or periods MS
the board Of directors shall determine
arG otherwise to be IN such form ~
the board of directors shall decide
and, be- II
Resolved further That said board
n directors be, and they are hereby,
authorized and directed to secure tho
payment Of said bonds by the exccu,
ton and delivery of a deed of trust Ia
such trustee or trustees al the board
NJ directors shall select, covering all
the real and personal property now
owned by this company or which II