Evening bulletin. [volume] (Honolulu [Oahu, Hawaii]) 1895-1912, 1903-03-13
TERMS OF HAWAIIAN ELECTRIC FRANCHISE
The Charter.

the 18th day OF October 1891, the in
Corporators being William W. Hall.
William V. Lockwood. Edwin o. White,
T. May and Jonathan Austin. Its prin-
cipal place Of business was Honolulu,
its term fifty years and its capital stock
5000 An amendment was granted
on March 90. 1895, by J. a. King. Min
lister of the Interior. with the approval
of President Dole and the members OF
the Executive Council, whereby per-
mission was given to the company to
manufacture and sell ice. and maintain
cold storage also to increase its cap
ital to s25OOOO.
Another Stock Increase,
Again. on April 16. 1900, Alex. Young,
Minister of the Interior. with the APP
proval of President Dole and the Cab
met. granted an amendment to the
charter. This increased the capital
stock to s35O.OOO, divided into $500
shares of the par value of 800 each.
while restating the purposes Of the cor
poration in the following terms:
"(a) To establish and maintain the
business of producing and supplying
electric currents for power and for
lights and for the transmission of in
telligence.
"(b) To purchase. erect, maintain
and operate electric power and light
and ice plants. and Geographic and tel
ephonic lines
"(c) To manufacture all manner OF
electrical goods. ice and materials and
other products. and to erect. construct,
maintain and operate cold storage
chambers and refrigerating apparatus.
and to store goods.
"(d) To buy. sell, lease, hold. own,
build. maintain and operate machinery.
warehouses, wharves and buildings on
the Island of oahu. and elsewhere, in
the Hawaiian Islands, incident to the
general purposes and business of tha
corporation
"(cD To acquire, lay, sell lease.
hold. own. mortgage and otherwise
deal in lands. privileges and franchises.
necessary or convenient to the pur-
poses of the corporation.
90 To acquire, purchase. hold sell
or mortgage shares of this corporation
and less than a majority of the shares
of any other corporation or corpora
tons when authorized thereto by a ma
jority of the board of directors or at
a meeting of the stockholders.
"(g) To import and export. buy.
sell and deal in all kinds Of electrical
goods and all other kinds of goods,
wares and merchandise and ice.
"Ih) To borrow money and to mort
gage. bond any hypOthecate any and all
the property both real and personal,
Of the company.
"G To lend money on security APP
proved by "A majority of the directors.
90 To do and transact all other
acts and things, agricultural, meChan-
zeal or otherwise. which may be neCeS-
sary or convenient to the business OF
the company or to any portion of said
business"
The Contract.
This indenturc into this Pod day OF
May. A. d. 1898. by and between James
A. King, Minister of the Department
of the Interior of the Provisional Gov
eminent of the Hawaiian Islands here
matter designated the Minister, act
eCutive Council of the Provisional Gov
eminent, party of the first part, and
the Hawaiian Electric Company, Lin.
tied, an Hawaiian corporation, herein
after designated the Contractor, doing
business in the district Of Honolulu,
Island of Oahu, in said Hawaiian
Islands. party OF the second part;
Whereas, by an Act entitled, An
Act to Regulate and Control the Pros
duction and Furnishing of Electricity
in Honolulu approved the twelfth day
OF January, 4. D., 1893. the Minister
was directed, after advertising the timo
and place and conditions Of sale for not
less than sixty days in one or more
newspapers published IN said Homo
lulu in the English language, to sell at
public auction to the highest bidder
the exclusive right and franchise TO
furnish and supply electric light and
electric power, except as in said Act
provided within the District of Homo
lulu, during the term OF ten years from
the date of such sale.
And whereas, after having adver-
tisGd for sixty days in the Pacific Com
merCial Advertiser, II newspaper pub
lished in Honolulu, notice of the
time, place and conditions of sale, and
amer having complied with and obeyed
all the directions and requirements OF
said Act on his part to be performed
and observed, the Minister, on the
third day OF said May, offered such
franchise for sale at public auction at
the front entrance of AliiOlani Hale In
said Honolulu, being the time and
place named in said notice, and sold
the same to the Contractor for the
price of two and one-half per cent OF
the gross receipts of the Contractor
from all electric light and power fur
nished to consumers to be received dur
ing each and every year of said term
Of ten years, excepting the receipts OF
the first two years OF said term, the
Contractor being the highest and last
bidder for such franchise, and such two
and onc-half per cent being the highest
percentage bid, and the Contractor hay