The Pacific commercial advertiser. [volume] (Honolulu, Hawaiian Islands) 1885-1921, 1906-01-11


e election as directors for the ensuir
Year, and they were duly chosen: Rof
l. ert Cation, A GartIey, E. H. Pari
/, Geo. w. Smith. W. F. Dillingham;, v
w. Harris, w. T. Lucas, W. H. Smitl
e G. ]. Waller.
e The chair has called a meeting c
e the directors for 1890 Friday morn
/ | ing, at which time the officers will b
: elected. 1t is generally conceded tina
? President Smith will succeed himself.
TREASURER'S REPORT.
The report of the treasurer showe
that the receipts had been $2963. ga, an,
there was a balance of 4.36. Among
the expenditures We're those attending
the entertainment of the Taft part.
and others.
CORPORATION EXHIBITS.
President Smith presented the mat
ter of the opposition of the merchants
to the corporation exhibit law. He
| said it was a thing of prime import
| ance and required prompt action
| Those who were corporate bodies had
| undoubtedly received from the Attor-
ney General the notice calling attention
| to excerpts from the revised statutes
| in regard to the annual exhibits, which
| carried penalty of $4,000 for failure
| to comply.
| The same question was before the
merchants in 1904, the question then
being referred to a firm of attorneys
Later the Territorial Urea surer decided
to make a test case and Benson, Smith
& Co. were selected as a corporate firm
to meet the test. Finally the Attorney
General, Mr.. Andrews said Mr.. Smith,
undoubtedly felt that the Territory's
case was not strong enough and no
attempt was made to bring the matter
before the courts. At that time the
Code Commission was revising the
laws. 1t is now maintained that the
commission made such changes that
the government was empowered to en-
force the law, it being made a mis-
demeanor to fail to file an exhibit.
Mr.. Smith said he did not believe
there was the slightest intention to
evade the law. If the exhibits were
kept on file merely for the use of the
officials, and not for the public, he
thought that no merchant would re-
fuse to file an exhibit. But when it
was known that a man only twenty
four to forty-eight hours in the country
could go to the Treasurer's Office and
look over the exhibits then it was
time for objection. The merchants had
no desire to make public the private
details Of their business. They had no
desire for a competitor to pry into
their affairs in this way.
The government may have the power
to enforce this law, and again it may
not have. 1t might be we'll to take the
matter into the courts and if necessary
to the q. S. Supreme Court, co-operat-
ing with the Chamber of Commerce
and Planters Association.
Mr.. Wakefield then read the various
reports on previous attempts to have
the exhibits filed only for use of Of
ficials and their failure.
BOWEN DOESN'T AGREE.
w. A. Bowen of Castle & Cooke
arose to object to the course of the
Merchants Association in protesting
against the exhibit law. He favored
it through and through. The corpora
ton exhibit law did not require the
details of business to be spread on the
blanks, but only the lump sums. Hell
thought this was right, and as he rep
resented eight plantation corporations
and filed exhibits. he felt that if his
corporations could do this the others
could also.
He looked upon this law, if obeyed. !
as a protection to the interests of the |
community. He did not think it was
in good form to evade the law. He
thought the association was making a |
grave mistake in objecting to the pres
ent law. He believed that it would !
bring about worse conditions than at
present. The opportune time was TO |
present such changes as desired be- |
fore the Legislature. He was consist |
ent with what he preached and refer |
red to the corporation exhibits he
would file
The people had given those who |
formed corporations, certain privileges
and in return for these privileges the
corporations should be glad to make |
their exhibits public to the people The
people were entitled to know some
thing concerning corporation affairs.
There is in the world today an in
creased antagonism to corporations"
said Mr.. Bowen, and unless we want
to increase that antagonism I believe
VIC SHouIu I'VE up 10 every law made.
To object or evade Is to increase the
distrust towards doing business in this
form
Mr.. Bowen thought that if an obiec-
tionable front was exposed toward the
law it would have a very unfavorable
appearance for the merchants He
believed it would be a great mistake
OFFICIALS SHOULD ANSWER.
Mr.. Wakefield thought that the Gov
ernor, Treasurer and Tax Assessor. as
the representative of the people
should be the only ones to have ac-
the representatives of the people,