The Pacific commercial advertiser. [volume] (Honolulu, Hawaiian Islands) 1885-1921, 1904-01-29
REAL VALUES SHOWN.


REAL VALUES SHOWN.
That aff1ant is informed and believes.
and upon such information and belief
states the fact to be that paid-up capi-
tai stock to the amount of s79, 10000 was
issued by said Fidelity Insurance Com
pany, Limited, in exchange for the
transfers of property above mentioned
That in truth and in fact said real
estate last above mentioned, exclusive
| of mortgage indebtedness, was, on said
3rd day of October, 1903, and on said
18th day of November. 1908, and up to
the 18th day of January, 1904, only of
the value of $34, 72S.00; and that in truth
and in fact said furniture and fixtures
on said several dates last above men
toned We're only of the value of $50O.00.
and that in truth and in fact said 800
shares of stock of the Honolulu Invest
ment Company, Limited were on said
several dates last above mentioned only
of the value of $1650.G0.
ASSETS AND CAPITAL.
That IN and by said statement so filed
with your affiant on said 3rd day of
October 1893, said Fidelity Insurance
Company, Limited, falsely and fraudu-
lently represented to your affiant that
its assets amounted to the sum of $116,-
412.9S, subject only to an Indebtedness
of $15,000.00; but that in truth and in
fact said Fidelity Insurance Company,
Limited, did not have on the 3rd day
of October, 1903, nor up to the 18th day
of January, 1904 exclusive of the in
debtedness aforesaid and exclusive of
the unpaid subscriptions to its capital
stock, assets in excess of $3S, ,456.83.
nI7f hn 2Td 1ou of
and on the 18th day of November, 1903,
said Fidelity Insurance Company did
not have a paid-up capital exceeding in
value the sum of $38, 1868.
IMPAIRMENT OF CAPITAL.
That on said 3rd day of October, 1908,
and on said 18th day of November, 1903,
said paid-up capital so represented to
be of the value of $79 10000 did not
exceed in value the sum of $3S, ,456. 50;
and was impaired in the sum of $41,-
043.17; and was further on said 3rd day
of October 1903, and on said 18th day
of November, 1903, impaired in the sum
of $11,544.17 below the amount required
by law before said Fidelity Insurance
Company, Limited, would be authoriz-
ed to transact the business of insurance
in the Territory of Hawaii.
That on the 18th day of November,
1903, affiant notified said Fidelity Insur-
ance Company, Limited, of such impair
ment of its capital and further noti-
fed said Fidelity Insurance Company,
Limited, to make good such impairment
up to the amount required by law, to
wit: up to the sum of $50, 10000.
FAILED TO MAKE GOOD.
That from. said 18th day of November, |
1909 IN tn and he 17f7
Of January, 1904, said Fidelity Tnsur |
ince Company, Limited, failed and neg |
ected to make good such impairment |
up to the amount required by law, and [
hat on the 18th day of January, 1904,
lffiant, as Deputy Insurance Commis-
'ioner, revoked the license of authority
% transact the business of insurance
n this Territory of said Fidelity Insur-
tnce Company, Limited.
OUTSTANDING OBLIGATIONS.
Af1ant is informed and believes and
Ipon such information and belief states
hat prior to the 3rd day of October,
903, and from said 3rd day of October,
903, up to said 18th day of January,
904, said Fidelity Insurance Company,
limited. has issued policies of insur- |
nee and acted as surety on bonds pur-
uant to the objects for which said
fidelity Insurance Company, Limited,
Tas organized. and that there are now
many policies of insurance
0 issued by said Fidelity Insurance
ompany, Limited. and that said Fidel-
y Insurance Company, Limited, is |
ow liable upon many bonds so execut-
d by it as surety. !
ITS EXISTENCE FORFEITED. t
Affiant further states that by reason
f the foregoing the Fidelity Insurance
ompany, Limited. under the laws of
ne Territory of Hawaii, has forfeited :
5 right to exist as a joint stock COM
any.
Wherefore. Aff1ant. as Deputy Insur- I
nee Commissioner, of the Territory of
[awaii. asks that the charter of said
idelity Insurance Company. Limited.
? revoked. and that a receiver be ap-
ointed to wind up its affairs.