The Pacific commercial advertiser. [volume] (Honolulu, Hawaiian Islands) 1885-1921, 1902-07-23
EXCHANGE
BENEFITS
One Half Percent
Rule Goes
Through.
MATERIAL MEN
WILL MEET 1T
Plans for Reception of Senatorial
Committee Will Be Considered
al Special Meeting.

A FTER consideration of the rule
~ providing for the payment into
- the funds of the exchange of one
half of one per cent on all con-
tracts for work done in Honolulu, Pearl
city or Pearl Harbor, the board of di-
rectors of the Builders and Traders ex-
change last night adopted forms and
reports to make the rule operative
Under the terms of the rule which
was adopted in April every contractor
who constructs or repairs any building
or any work coming under his line of
business. any agent receiving commis-
sions on sales of real estate or on in
surance written on buildings under
construction or repair, shall pay the
percentage drrto the special exchange
f,rryd. to be known as the contingent
and building fund This fund shall be
loaned or invested and finally shall
constitute the building fund of the ex-
change.
OF the many advantages which viii
come from this rule, the principal per-
sazs will be to the handlers OF building
,kateriai. One clause OF the rule as
adopted provides that any contractor or
sub-contractor on any building or other
contract, purchasing his materials from
another member of the exchange, shall
he entitled to receive a discount of one
half of one per cent, the amount to be
paid into the exchange. The same reg
uIatfon affects the letting of sub-con- II
tract
The resignation of T. F. Osborn from
the board of directors was accepted. as
MY. Osborn stated that he was leaving
the city on account of i'll health.
The report of the Legislative COM
lnittee was received and adopted and a
special meeting called, as set forth in
the following minute:
The Board of Directors. Builders and
Traders Exchange:
Your legislative committee, pursuant
to resolution adopted by the board.
JuY,e Is, and a motion passed July IL,
held a meeting Saturday, July 1S, 1907,
and considered the matters referred to.
Your committee begs to make the fol-
lowing recommendations IN the prem
ises:
tD That the matter of drafting
building and plumbing laws be post
poned until such time as 1t shall be
necessary to take them up.
(2) That the Exchange appoint or
eIset a committee with power to draft
a suitable address setting forth the re-
ouireunents of Hawaii and Honolulu,
particularly as the exchange sees
them. and present the same TO the
committee of United states SENATORS
which n coming here to investigate
affairs
R(3) That the Exchange cooperate
with such other pubic oodles as may
ioin with us in the matter of receiving
and entertaining the Senator'S
Exchange be called for 7:30 O'Clock p
M, Wednesday. July Soth. TO choose
such Memorial Committee and Recep-
tion Committee and to discuss the Ia
Dor question in general.
Your committee would furtner repurt :
that IT has taken up the matter or the
labor situation with the Repnohcah
Territorial Committee and may nave
sl,pplemental report to make at the
Exchange meeting if called
Respectfully submitted.
G.. F. BUSH,
,-bair,ran legislative Committee.
The above report having been adopt
cd by the Board OF Directors this zzno
day of July. 1902. with the recommend
alton that the same be reported 70 the
Exchange at the time therein NAMED,
:, speciaI meeting of the Builders ana
Graders Exchange is hereby called Tor
$50 d. m. Wednesday, July 3oth, lSoz,
10 consider the matters in said report
1Signed) F. J. AMWEG.
President Pro Tenn.
Attest: j. D. AVERY.
Secretary
x.,, uorasa Lands In Samoa