The Pacific commercial advertiser. [volume] (Honolulu, Hawaiian Islands) 1885-1921, 1903-01-14


account, and also on behalf of certain
other stockholders in said corporation
resident in the Territory of Hawaii, in
the City of San Francisco, State of Cal
ifornia, and City of New York, State o
State of New York, protest against tn
(so-called) annual meeting of stock
holders for the election of directors oe
said corporation, called at the office of
the said corporation in Honolulu. Island
of Oahu, Territory of Hawaii, for Tues
day, January Is, A. D. 1903, at O'Clock
p. m, and protests against any election
OF directors at said meeting and against
each and every act towards said cleo
ton that may be contemplated or NAV
actually occur at said meeting, and de-
clines to take part in said meeting, or
to cast any vote or votes thereat, on
each and every the following grounds,
and for each and every the following
reasons:
First-Because the acting directors
and officers of said corporation have
violated the laws of the United States
relating to national banks, and, by rea-
son of said violation. have placed the
said corporation, it's acting directors
and officers, within the control of the
to immediate proceedings for the liqui-
dation of the said corporation and the
final settlement of it's business, affairs
and property.
Second-Because the acting directors
and officers of said corporation have re-
fused the advice and violated the in
structions of the Comptroller of the
Currency, and have thereby rendered
the said corporation liable to immediate
proceedings for its liquidation before
the district court of the United States
for the district and Territory of Hawaii
Third-Because since January Ia. A.
d. 1902, the said acting directors and
officers have not been de jure directors
and officers of said corporation, and
have continued to hold and occupy their
several positions, arbitrarily and by
force, and in disregard and contempt of
the instructions of the Comptroller of
the Currency
Fourth-Because at the hour of p.
M, on January IA, A. D. 1902. at the
office of the said corporation, the regu-
lar annual meeting of it's stockholders
for the election of it's directors was con-
vened, and the president, Cecil Brown,
esquire, was chairman of said meeting;
that, at the said meeting, the present
acting directors of said corporation re-
ceived 2,051 votes of shares of stock in
their favor; that, at said meeting, good.
sufficient and valid proxies for 2,292
shares of the capital stock of said cor
poration, which then and there would
have been voted for another and differ
ent set of directors, were refused and
thrown out by the chairman, Cecil
Brown, esquire, on the ground that the
said nrOXiPG "a in
formity with the internal revenue laws
Of the United States, whereas, in truth |
and in fact, the provision requiring |
stamps on proxies had been long before
that time repealed; that, at the said
meeting, the protestant protested
against said proceedings in writing as
an attempt to deprive the majority
stockholders from representation at said
Meeting; that, on January 16, A. d. 1902
J. Alfred Magoon. esquire, and J. ].
Dunno, esquire, on behalf of this pro-
estant, addressed a letter to the acting
BOARD of directors of said corporation,
n which they disputed the election of
aid acting directors at the annual
Meeting, and in response thereto, by
of said acting directors, re-
eived an answer from w. G.. Cooper,
squire. acting cashier of said corpor-.
.lAOAAB III w TIE dClAOIl VI SdlO OSC1i
Brown, esquire, as chairman, in reject
ng the proxies aforesaid, was conceded
o be Illegal and 1T was stated that {
Meeting for the election of directors Of |
aid corporation had been ordered at :
IS office, at 2 o'clock p. m, Of March 8. !
|. d. 1902; that said last mentioned 7
leeting was regularly called and adver- '
sed according to law and the Articles
( Association OF said corporation. Sec .
ion 5,149 of the Revised Statutes of the
United States, and Sections list" and
4th of the bylaws OF said corporations:
hat on the morning of March 8, A. D. i.
,02, by order of the acting directors of t
aid corporation, the said w. G. Cooper, #
squire, acting cashier, as aforesaid. F
aused to be delivered to ]. Alfred Ma a
oon, esquire. one of the attorneys for j
lis protestant, a letter, in which he an
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