The Pacific commercial advertiser. [volume] (Honolulu, Hawaiian Islands) 1885-1921, 1904-01-29
NATURE OF COMPANY.

NATURE OF COMPANY.
That at all times herein mentioned
The Fidelity Insurance Company,
Limited, was and still is joint stock
company, organized and existing under
and by virtue of the laws of the Terri
tory of Hawaii, having its principal
place of business at Honolulu, Island
of Oahu, Territory of Hawaii.
That among the purposes for which
the said Fidelity Insurance Company,
Limited, was organized We're the fol-
lowing: to insure and issue bonds guar
anteeing the fidelity of public officials
and employees, officers and employees
of banks, corporations and business
houses holding positions of trust and
pecuniary responsibility; to act as sure
ty on bonds required in court proceed
ings; to insure and issue policies for
| employers liability, elevator, plate
glass; accident, fire, life, marine and all
kinds of insurance of every description;
and to guarantee and insure the title
and titles of real estate.
That on the 1st day of October, 1903,
| the authorized capital stock of the said
| Fidelity Insurance Company, Limited
was the sum of S20O, 100000.
CAPITAL REQUIRED.
| That under Sec. of Act SO of the Ses-
sion Laws of 1908 it is unlawful for any
insurance company, or corporation, or
| ganized under the laws of the Terri
| tory of Hawaii. prior to the 1st day OF
| October, 1903, to transact the business
| of insurance, or issue a policy of insur-
ance without first having a subscribed
capital of not less than $100,000.00, Of
which $50 100000 thereof must have been
paid in in cash.
That said statement purporting to
represent the assets and liabilities of
the said Fidelity Insurance Company,
Limited, so filed with your affiant. as
afol esaid, represented that said Fidel-
ity Insurance Company, Limited, had
a subscribed capital stock of 100000,
OF NAich $79, 10000 thereof had been paid
in in cash.
FRAUDULENT STATEMENT.
That between the 9Th and the 18th
days of November, 1903, affiant made
an examination of the affairs of the
said Fidelity Insurance Company, Lin
tied, for the purpose of ascertaining if
the laws of the Territory of Hawaii,
relating to the payment of the capital
of said Company had been complied
with, and that upon such examination
affiant ascertained that said Fidelity
Insurance Company, Limited, did not
have on said 3rd day of October. 1903,
nor at any time up to said 18th day
of November, 1903, paid up cash capi-
tai of $79, 10000, and that the state
Inent so filed by the said Fidelity In
surance Company, Limited. with affi-
ant, as Deputy Insurance Commission
er as aforesaid, on the 3rd day of Octo- !
Der, 1903, wherein and whereby it was |
represented to affiant that the Fidelity |
sum of $79, 10000 of its capital stock I
paid in in cash was false, fraudulent |
and untrue; and upon information and |
belief affiant states that of said sum |
only $4,000 thereof was paid in in
cash.
FALSE REPRESENTATION
That the balance of said S79. 10000, to
wit, the sum of $79, 10000 so represented
to have been paid in in cash with the
exception of $65.S5 thereof, which aff1-
ant is unable to account for and there
fore states on information and belief
was not paid in at alb was paid in as
to wit: /. BY transfer of real
estate to said Fidelity Insurance Com
pany, Limited, falsely and fraudulently
represented in and by said statement so
filed with affiant as aforesaid, to be of
the value of 500, ,412.50, but upon which
there was mortgage indebtedness of
SIS. 10000: 2. BY transfer to said Fidel-
ty Insurance Company, Limited, of
furniture and fixtures falsely and
represented in and by said
statement so filed with your afiant as
aforesaid, to be of the value of SS00.00;
J. BY transfer TO said Fidelity Insur-
ance Company, Limited. of stocks con-
sisting of 800 paid up shares of the Ho- {
lolulu Investment Company, Limited, / {
'alseIy and fraudulently represented in |
md by said statements, SO filed with
your affiant aforesaid, to be of the I
7alue of 24.O00.00; 4. By transfer to
;afd Fidelity Insurance Company, E
Limited, of office furniture and sup
,lies represented in and by said state
nent to be of the. value of $121.65-all !
represented to be of the aggregate !