The Hawaiian gazette. [volume] (Honolulu [Oahu, Hawaii]) 1865-1918, 1902-01-17

mcnt that as soon as tAis was done ne
would move an adjournment for thirty
days.
/ The first nnme called was tina, of
Ailetu Maefarllrp. CD. MaCfarlau'
/ Responded, hpiuiag proNy IN his hand
/ and saying that he was her natural
/ guardian. Cecil Brown objected to the
] receipt % the vote on the ground that
| unless he was the guardian appointed
/ by the court he could not represent the
person mentioned. Col Macfarlane stat
ed he would simply file the proxy leav-
| ing the matter to the stockholders to
decide upon the merits of his repre-
| sentation OF the shares in question.
Mr.. Brown promptly replied: Il rule it
out. AS the presiding officer at this
meeting rule it out. You will please
disregard that vote, Mr. Cashier"
| To another holding OF Macfarlane
shares the proxy for which was held
by Col. Macfarlane. Mr.. Brown said he
would like to have all proxies filed with
the cashier. He ruled that otherwise
| they would not be received. Col. Mac
farlane asked whether it was not GUS
tomary to file them with the Secretary
| instead of the cashier Mr.. Brown
stated that the National Bank of Ha-
wall had no Secretary, the cashier act
ing in that capacity. Col Macfarlane
then filed the proxies with Mr. Cooper
Mr.. Brown thereupon ruled them out
because they had not been stamped as
required by the Internal Revenue De-
partment. and would not be acted
upon. Col. Macfarlane offered the
proxy for II. +. Allen. and IT met the
same fate
Judge Humphreys. noting the alb
sence of a Republican reporter, then
| moved that the members of the press
be excluded from the meeting as he
did not think 1t right to have discus
sion which might affect the financial
standing of the institution made pub
lie. Col. Macfarlane seconded the mo-
| ton. Mr.. Brown stated that one of
the reporters present was a stockhold
er. Judge Humphreys withdrew his re-
quest in so far as it affected this news
paperman, but asked that it apply to
the remaining member of the frater-
nifty. The request was acceded to and
the non-stockholding newspaperman
retired.
Following this episode the fight was
waged on the question of whether or
not the 500 shares of the Campbell
estate could be voted, Col. Macfarlane
stated that Mrs. Samuel Par
ker's formerly Mrs. Abigail CampbelD
letter asking for an adjournment for
| thirty days. CecilHlrown, as one of the
| trustees, opposed the introduction of
the letter. saying that he knew the
signature of Mrs. Abigail Campbeli,
and not that of Mrs. Samuel Parker. 1t
was also brought to light that in voting
bank stock in a national bank all ale
trustees had to vote the stock. Mr..
Brown ruled that J. Q. Carter, one of
the trustees, could not vote the stock,
making a disagreement at once The
result was that the Campbell Estate
stock was tied up. COT. Macfarane OBJ
jected and was given an opportunity to
file his protest in writing with the di-
rectors.
After the reading of the minutes OF
the former meeting, Mr.. Brown pre-
scented IL report of the business done
by the National Bank of Hawaii, as
follows:
CECIL BROWNS REPORT.
To the Stockholders of The First Nation
al Bank of Hawaii at Honolulu:
Gentlemen:-Under the provisions of
the National Banking Act, all National
Banks must hold their annual meetings.
in Januthy of each year on the day spe-
Gifted in the Articles of Association, AMI
almost every National Bank in its Ar,i-
cles of Association has fixed upon the
second Tuesday of January as that day,
and hence our meeting. Although this
institution has been doing business for
but fifteen months, this will be our Sec
ond meeting, the first covering the period
from October, 1900, to January LIST, 1901
and the present from January, 1st, 1901
to December 81, 1901.
Since our last meeting the Board of
Directors concluded to change the place
of business of the institution, the Old
quarters becoming too small and cramp-
ed by reason of increasing business and
the need OF more help, and made ar
engagements for the present quarters with
the Mcintyre Building Co. Ltd. for q
, term of ten years at yearly rental OF
$500 a month.
The First American Savings and Trust
Company of Hawaii, Limited, has its
place of business on Fort street in par
of the premises leased to us, thus reiuc.
ing our rent by 500 a month.
e The removal from the old to the new
quarters have entailed an expense Of
over $1,000 for fixtures, etc, actually
= needed, and we have today the fines
banking offices in the Territory The ;;
fixtures Will be carried On the books a!
=. an asset and be gradually written off
. The business since the last meeting o
stockholders has greatly increased, ant
j. we feel perfectly justiiiel from that fac
:. in making the move We have done, an
= in making the expenditures caused II.
,, such removal, and also feel sure that tn
future business of the institution wi
Justify this action.
a The gross profits for the year have bee
SIC, 994. SO, and the expenses 25,9993l, los
Q of currency per Rio de Janeiro," $50.
premium written off u. s. bonds $29ll ::
. leaving a net profit for The years bust
ness of si7.2Sl53, out of which has bee
:, paid dividend of five per cent. per an
y II m. paid sem!-annuaily Tie sum =
$4,000 has been carried to surplus &C
count. and the balance of s22Sl53 I
N Profit and Loss account. Mr.. w. G
~ Cooper. the cashier. has prepared bel