The Hawaiian gazette. [volume] (Honolulu [Oahu, Hawaii]) 1865-1918, 1902-01-21
To CALL
ANOTHER
MEETING
The First National
Bank Men
Act.
(From Saturdays daily.)

~ Y unanimous vote at a special
* meeting yesterday afternoon the
r. directors of the First National
bank of Hawaii decided that the ac
ton of the President. Cecil Brown. in
ruling out the votes of the majority OF
the stockholders at the meeting Of last
week, was an error.
when this point was reached there
was nothing further to be done but to
call another meeting of the stockhold-
Crs, and the cashier was ordered to give
such notice and set the date of the new
meeting for March Sth., 1902, at p. m
After doing this much there was moth
ing left for the board to do and the
adjournment was taken. The call need
not be issued for two weeks yet, and
there is to be plenty of time given for
the faction here which is opposed to the
recognition of the mainland stockhold
ers to make n hard fight for securing
the control of the stock The decision
OF the board meets with general appro-
val on the street where opinion had
grown that this must be the outcome.
The date set is a very convenient one
for those who would have the advan-
tage of the very latest mails from the
coast, and from the East as well.
There is given full opportunity for
exchange of letters twice over which
viii mean that when the next meeting
shall take place there will be full
agreement on the part of the local
stockholders and the mainland inter-
osts as to the new officers of the bank.
owing to the fact that it has been the
expressed wish of the proxy of the San
Francisco people that there should be
no selections made until there had been
full conferences and entire agreement.
The directors of the bank are believed
to be entirely in accord with the Anglo
Californian bank, which is the parent
institution, and through connections
there is largely Interested in Hawaiian
affairs, and it is the general belief that
there will be no great changes made,
except perhaps as to the management
of the institution.
Some fear was felt yesterday that the
action of the board in calling the meet
ing for a date SO far in advance was
due to a desire to secure all possible
stock for the minority representatives.
The attorneys for the representative OF
the mainland men are now looking up
the law on this point, and 1t Is the be-
lief that as the decision of the board
makes 1t apparent that there was no
legal meeting held on the date for the
ANIMAL gathering and election. there-
fore there should be no change In the
status quo ante, which would mean
that the mainland shares would be
voted and hold the majority of the rep
resentation. Should there be any ap-
parent determination on the part OF the
present officers of the bank to make
any transfer of stock. the intention Is
to have an injunction issued to pre-
vent such transfers. and thus preserve
the conditions which existed when the
books of register were closed, the day
before the meeting.
The decision of the Board OF Direct
ors of the bank was reached in re-
Spouse to the letter from the attorneys
for G.. w. Macfarlane. published yes
terday. and the letter from the bank s
officers, which was addressed to ]. J.
Dunno, j. A. Magoon and 7. J. Dillon
as his attorneys Is as follows:
Your communication of the 10th Inst.
duly to hand, and has been submitted
to the Board of Directors at n meeting
held this day, and l am directed to in
form YOU that such board unanimously
came to the conclusion that the presid-
ing officer committed an error In reject
ing most, If not all of the proxies offer
ed by your client, on the grounds he did
and have therefore ordered that notice
of another meeting for the election OF
Directors should be given and have fixed
the day for said meeting as March Sth
1902, at p. m.