Evening bulletin. [volume] (Honolulu [Oahu, Hawaii]) 1895-1912, 1902-06-01
Supreme Court Decides
AGAINST
Kamalo Company Promoters

cation was made to one of the defend.
ants for stock he would make memo.
randum Of the name and number OF
shares in pass book or on slips of
paper carried in the pocket; that be.
fore the corporation was organized
these slips or lists of names we're
| handed in to Hustace, who allotted
the stock to the shareholders. deter.
mining who should be permitted to
buy and the number Of shares; that
after Hustace had completed the al.
lOtment he caused a printed circular
to be sent to each person to whom he
had awarded stock in the form follow.
ing:
"KAMALo SUGAR COMPANY.
Honolulu, April ......, 1899.
| 'Mr. .................
You are hereby notified that a ten
II per cent assessment on .... shares
Of stock (par value 500 each) in the
Kamalo Sugar Company. to be incOr'
poratcd under the laws OF the Rcpub.
lie of Hawaii. for the amount OF 1000.
900 doiiars. Is now due and payable at
my office. Campbell's Block. Merchant
street. II not paid on or before .....
inst. the same will be transferred to
other parties.
Yours respectfully,
FRANK HUSTACE.
S........ due"
First Stockholders Meeting.
That afterwards, on the 10Th dav OF
April 1899, the three defendants held
a meeting at Hustace's office. which
was later dcnominatcd. in the minute"
books of the company. the first stock.
holders mCGting Of the Kamalo Sugar
Company. Ltd; that these minutes,
after rpciting that these three defend.
ants were present representing ASSOC
shares OF the capital stock out of tho
entire amount of 10000 shares and
that the articles of incorporation Of the
company had been filed. read as FOL.
lows:
Motion made by Frank HustaCC
and seconded by J. J. Egan that the
corporation agrees to pay the promo.
ters. upon their giving a deed to the
corporation Of all their right. title and
interest in the following described
property: all options now in the name
Of Frank II. Foster, also in fee simple
the Ahupuaa OF KopuaokOlau. cOa:ain.
ing G7l acres and one piece In Kappa
lai of three acres. more or less. as de.
scribed in the deed to them from the
McCOrriston brothers. also the assign.
mcnt of certain lease for a term OF
forty years made by the trustees OF
the Il. p. Bishop estate to the said pro
moters, together with all buildings
improvements. rights. privileges and
Iappurtcnanccs therein, including all
the stock formerly owned by McCor.
ristOn brothers, viz. 300 head more or
less Of cattle. 30 head more or less OF
horses, for the consideration of $50.
900 in United States gold coin and the
transfer to such parties as they may
describe tho amount of 1000 shares OF
fully paid up stock Of the corporation.
Carried That these minutes make
3 Fal IA. n. la, 1..,,
lars. viz. a. The articles OF inCorpor.
alton OF the KamalO Sugar Company
I Ltd, had not been filed on the Goth
day of April, 1899 (2) the promoters
did not at that time have deed for
the MCCOrIfstOn land: 49, they had
no lease for the Bishop Estate land
That on the day following April 2lst
! liustace began to receive responses Ia
the notice sent the allottecs of stock
and the payment OF the first assess
ment OF 10 per centum thereon and
that TO the parties paying ne issued re
eeipts in the following forms:
"kamalO Sugar Company, Ltd.
No. ..... Subscribers Receipt
Honolulu. II. l.. .,.... 1899.
| Received from NEUTRALITY-SUSPICIOUS..
.............. dollars. for first as
scssment OF 10 per cent on 900. shares
OF the capital stock of the Kamai0 Su
gar Company. Ltd. this receipt - bC
surrendered on the delivery of cortiii
cate OF stock.
FRANK HUSTACE.
Date Of Incorporation.
That the nrst certificates of stock IL
the company were issued in the lptte
part Of May following. That the ar
ticles Of incorporation appear to hav,
been signed on the 10th day OF April
1899, whether they were signed oil
that day or on the itn day Of May 4
disputed from the fact that In the dat
line of the articles an erasure appears
The month as typewriter was erased
and Goth" and April written In witt
; Ink. When this change was made o
by whom does not appear from tn
: evidence. That the certificate OF aC
, Acknowledgement attached to the article
Is dated May 4th. 1899. and the article
, were filed with the Treasurer OF tn
| Territory on the sth day OF May. 1859!