The Hawaiian gazette., 1907-11-22
A TEN MILLION
DOLLAR SCHEME

.
has just filed an application fo- a
charter in the Office of the Treasurer
of Hawaii.
| F. C. Atherton, w. A. Bryan, ]. B.
Castle, C. H. Cooke, H. E. Cooper, T.
c. Davies, w. F. Frear, A. F. Griffiths,
P. L. Horne, F. J. Lowrey, W. Pfoten-
hauer, NJ. P. Robinson, w. o. Smith, L.
A. Thurston and R. H. Trent are the
petitioners.
"To encourage, in the broadest sense
and most liberal manner, investigation,
research and discovery in the Pacific
ocean, and to make application of
knowledge thereof to the improvement
of mankind" is stated to be the OBJ
ject of the corporation.
The proposed duration of the corpora
ton is fifty years.
1t is proposed to organize the cor
poration Immediately upon the grant
of its charter.
The amount of property which the
corporation is authorized to hold under
the charter is limited to the sum of
ten million dollars ($1O,OO0,OOO).
No power is granted to issue capital
stock or to declare dividends
The direction and control of the en-
tire business and affairs of the institu-
ton, and the management and DISPOSE
ton of its property and interests, shall
be vested in board of trustees to con-
sist of fifteen members, which board
shall initially consist of the petitioners
named above. The board may be in
creased to twenty-one, or reduced to
Iseven, members by two-thirds vote.
As soon as possible after the charter
shall have been duly signed and seal
ed, meeting of the trustees shall be
called by F. c. Anterior, w. A. Bryan,
j. B. Castle, C. H. Cooke and H. E.
Cooper, or any three of them, and the
trustees shall organize and proceed to
adopt bylaws, elect officers and appoint
committees.
After fifteen years of the corporate
life of the Institution, the trustees may
effect its dissolution provided that in
the judgment of three-fourths of their
number the main object for which it
is created has been attained. Disso-
luton may be effected at any time on
a unanimous vote.
In the event Of such dissolution a
majority of the trustees may reorganize,
incorporate and permanently endow,
singly or collectively, anyone or more of
the various institutions, Organisations
or branches of research which they may
have created, ard transfer to them all
or any part of the trust funds in their
possession available for the purpose.
TO RECOGNIZE BENEFAcT1oNs.
In recognition of endowments, all
funds, securities, property real and
personal of whatever nature, given in
- uSI " lhc iASIlutioi lOT the lOT-
warding of its objects, by deed of
trust or otherwise, the trustees are
empowered to recognize the following !
classes of contributors, namely:
1, Founders. 2, Benefactors 3, En-
lowers. 4, Patrons. 5, Contributors +,
And such other classes as they may
rom time to time deem wise accord
ng to the requirements and conditions {
which they shall set forth in the by =
avs.
An intimation of the anticipated re-
ources of the institution is found in S
provision of the charter that the a
rustees may take, hold or use any gifts, q
rants, devises or requests, etc., this .
rivilege to be exercised according to
he laws of New York, Pennsylvania,
Massachusetts, or Hawaii a
PURPOSES IN DETAIL. t
Besides the general purpose of the t
institution, which is quoted above f
rom the certificate accompanying the
etitiorf for charter, the instrument it
elf adds to that statement these de-
ais:
lvestigation in any department of c
,ience, and to this end TO cooperate i;
it'll governments, universities, col :.
ges, technical classes, corpora lions, n
armed societies, organizations and Of
dividuals. S;
(b) To appoint committees and ex- 81
erts to direct special lines of re- T.
arch.
(c) To publish and distribute docu- m
ents. ga
I'D To conduct lectures, hold meet IN
gs and acquire and maintain a Ii
airy.
(e) To purchase real estate, ETC., or H'
operty real, personal or mixed-not tn
exceed in value 100000 900, and to
Use or rent such property, and to
instruct such buildings, vessels and an
lipments as may be deemed neces- ma
~ or convenient to carry on the Fo
rk of the corporation.
p In general to promote the OBJ
is of the corporation, and to prose- De'
.e ethnographical, biological and the
ieral scientific surveys of the Pacific but
can, and to amplify, apply and pub lat