The Hawaiian gazette., 1905-01-17


personal, controlled by the trustees o.
the Bernice Pauahi Bishop Museum al
OF October u. 1904. Ufon comparing
said inventory with the account and
also with the inventory filed on the 18th
day of November, A. ID. 1903. find that
the only changes in the inventory are
% that the note of G.. A. Schuman
for $4,000 has been paid in full, together
with the interest due thereon, and the
mortgage duly cancelled; ara c. that
the Oahu Railway and Land Company
stock certificate No. 1867 for 400 shares,
and showing a value of $4,000, con-
veyed to the museuin 10y the Hon.
Charles r. Bishop by deed of trust
dated November 2, 1900, and heretofore
constituting part of the Charles r.
Bishop life interest trust account, was
transferred to the museum general in
vestment account on receipt of instruc
tions from the donor, waving in favor
of the museum the life interest reserved
by him in the income thereof, and I'M
der these instructions the museum gen.
eral investment account has been cred
source, commencing with dividend No.
As, July 10, 1904.
The papers representing the invest
ments were exhibited to the undersign-
ed, as master, and / have carefully
examined the same and find the secur-
ity behind each of said investments 10
be the same as previously reported.
The account shows a deficit balance
of $2,S2S93; but it appears by the
trustees report and also by their
books that the receipts We're: Divi-
bends, 5000. 90; interest, s12, 4S3 As; rents,
$21, 513 so; taxes, ssO4.1O. Total, $780,
451. 80.
penditures-Account capital. s14,-
800. SO; account current, $1S,271 .0S. To-
tai. $SS,191. 81.
Expenses in excess of income, So
740.62.
For which the. trustees report that
effort has been made by them to keep
expenditures within the income of the
trust. but the account shows deficit
of $6,74O.62, which may be partly ac-
counted for by some items in the na-
ture of extraordinary expenses While
the segregation of capital and income
expenditure may be helpful from a
standpoint, the trus-ees
recognize that the total expenditure on
every account should be limited by the
income in trust of this nature, aul it
is their aim and the desire IF Mr..
Bishop that the Museum should event.
ually be able to accumulate from ip-
come a reserve fund which will pe
available at all times to meet possible
The trustees also report that from
January list, 1905, the rent receipts Will
be reduced by 81, 500 per annum as the
result of reduction made in the rental
reserved under the lease of the
Ahupuaa of Waipio, Hawaii, from
$4,000 to $4,000 per annum, but
Mr.. Bishop has generously released
his life interest in the Oahu Railway &
Land Company stock, held by the trus-
tees, and the income from this source
will more than equalize the diminished
Waipio rental.
The Museum salary roll has been ma
-erially cut down by dropping Two CT
he members of the staff, May 18th and
July 18th, respectively, but the OPEN
ng of the annex has required the en-
,agement of an extra janitor and the
of an additional assistant
a LADY,, the latter on public visitors
lays only.
The trustees also report that they
lave secured from the trustees of the
8ernice Pauahi Bishop estate a lease
II the site of the Museum main build
ng on the grounds of the Kamehame-
la School for Boys, Kapalama. The
ease is for a term of ninety-ni
ears, commencing January / 1904 at
! paid-up rental of $500 net, and was
on the first of March last
With the full approval and permission
II the court, whose opinion was soiic-
ted to clear up any doubts there may
lave been regarding the validity of
ontract between parties so intima teiy
as the Bishop estate and
duseum trusts.
The models of the Volcano of Kilauea
nd of the ancient heiau two of the
hief attractions of the new Hawaiian
Hall, have been suitably incased at a
oSt VI Si,ooS.oo. some repairs have |
'een made to the roofs of the central |
flee and bank buildings, which were |
ound to be leaking, and similar re-
airs are now in progress with refer
nee to the roof of the Hawaiian Hall.
he latter is likely to prove one of the
eaviest expenditures for the coming
ear examinations made by competent
rchitects and builders showing the
resent roof-slate to be defective and
he necessity for a complete renewal.
ufncient new slate to cover the entire
oof has already been ordered from
broad.
Sanitary improvements have been
lade to the workshop and workshop
mex, a cess-pool being provided for
ne latter.
The trustees also report that the Ka-
alma suits. so-called. involving the
Iuseums title TO the Ahupuaa of Wal
10. have been decided in favor of the
Iuseum.
The trustees also report that the
atholic Mission having applied for a
nall area of land for church purposes,
he and one-half acres at Waipio were
not mite SS0n h.. bagn, |