The Pacific commercial advertiser. [volume] (Honolulu, Hawaiian Islands) 1885-1921, 1902-01-15

BANK OF
HAWAII
CONTINUED from Page -

wall had no Secretary, the cashier act
l. 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. F. 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 it 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-
err 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. Cecil Brown, as one of the |
trustees. opposed the introduction of |
the letter, saying that he knew the
signature of Mrs. Abigail Campbell. |
and not that of Mrs. Samuel Parker 1t
was also brought to light that in voting
bank stock in a national bank all .ne |
trustees had to vote the stock. Mr..
Brown ruled that J.. o. 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. Col Macfarlane OBJ
jected and was given an opportunity to
file his protest in writing with the di-
rectorS.
After the reading of the minutes oc
the former meeting, Mr.. Brown pre-
sented a 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:
entlemen:-Under the provisions OF
the National Banking Act, all National
Banks must hold their annual meetings. s
in Januthy of each year on the day spe- ]
Gifted in the Articles of Association, AMI
almost every National Bank in its Arti-
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 r
ond meeting, the first covering the period .
from October 1900, to January lst, 1901, /,
and the present from January, LIST, 1901, :
to December 81 1901. =
Since our last meeting the Board OF I !.
Directors concluded to change the place g
Of business of the institution, the old 8
1x-N-~>
ed by reason of increasing business and =
the need of more help, and made ar =
for the present quarters with =
the Mcintyre Building Co. Ltd. for p
term of ten years at a yearly rental of Z
$500 month.
Company of Hawaii, Limited, has its =
place of business on Fort street in a part =
If the premises leased to us, thus reduc- =
ng rent by 500 a month.
The removal from the old to the new q
quarters have entailed an expense OF =
needed, and we have today the finest | :.
banking offices in the Territory. These
fixtures will be carried on the books h
IN asset and be gradually written off. =
The business since the last meeting of il
has greatly increased and p
We feel perfectly justiffei from that fact \
n making the move We have done, ard n
n making the expenditures caused by n
uch removal, and also feel sure that the =,
uture business of the institution VIII :,
Justify this action. =;
The gross profits for the year have been r.
&c, 1894. So and the expenses SIS S99.3l, loss .,
# currency per Rio de Janeiro,' $500, 9,
premium written off U. S. bonds $29l1 e., a.
eaving a net profit Cor The years bust n,
ess of SAT, 2S153 out of which has been r,
aid dividend of five per cent per an 81
m. ptid senli-a annually. The SIM III n,
20, GOO has been carried to surplus ac- q
cunt. and the balance of s22S1. SO to ON
'rofit and Loss account. Mr.. w. G.
copper the cashier has prepared a Bal D
nee sheet, copies of which are be dis
ributed amongst you.
The Judges of Election for this meet
lb who are to superntend the election I'll
f Directors, are Messrs. H. F. Lewis,
rank Hustace and Harry Armitage. Ii
The present Board of Directors con-
lists of Messrs NJ P. Robinson, G.. j.
Waller, l.. L. McCandless August Dreier Pr
nd Cecil Brown, who are all eligible for
and ask for a reelection at ID
our hands. In this connection the writ
r deems it proper and necessary in his LIZ
wn behalf to make a statement as to
hat were and may be are the in
,ntion of the correspondents of this I'll
ank in San Francisco in relation 10 the {
flee of president. Their Intention acct
entally became known to the present
lcumbent, and had 1t not been that a
liStake was made by them as to the Gil
ate of the annual meeting, in all prob ~
bi!ity this intention would have been -.
arried through. and that without a ma %:
,r;ty of the stockholders being aware 'n
cognizant of what was intended The -
blowing is what was intended as learnt 9's
ON outsiders l. e., not the correspo,.d Pr
ITS. 1t was the intention t. name Pr
GARD of Directors, leaving the present an
cumbent out The president Of the ed
INK must be director, and is elected tn,
that position by the directors, the tn
oekhoiders electing The directors, and of
us action was intended 10 be taken ing
-thout any reason notification be;.g act
ven or complaint made Of neglec; OF c
lty, non-attention to business or unfit no
eSs from any cause, and it is submit in
q that the move was irtended to DO en
ade ana undertaken without consulta- pei
On with the stockholders (some Of them thu
siding abroad knowing nothing of the for
owe, and when finding, regulating IT'D. me