The Pacific commercial advertiser. [volume] (Honolulu, Hawaiian Islands) 1885-1921, 1907-11-14
PROPERTY NOT
ON TAX LISTS
Continued from Page one.l

tCODIinueQ age oLG.I
few mortgages, which are hardly pos
sible to collect, form the small pick
ings for the creditors. whose claims,
according to a clerk in the office,
amount to S2S,029.
P. H. Burnett, who was one of the
originators of the company, but who
left the concern after a year, on ac-
count of the manner in which the
finances were conducted, tells an in
teresting story of the workings of the
concern. He said:
II left the company, Mr.. hentweil
buying me out, twelve months after
it had been started. There were sew
eral causes of dispute, among which
was the drawing of $1,000 from the
treasury of the company by Kentwell.
II had been agreed that for the first
year, until the affair was on paying
basis, there should be no salaries paid.
No. Kentwell did not give a note. He
simply took the money.
Another cause of the trouble was
The acceptance of a note from John d.
Holt, for the sum of 500, 1 believe.
which was unsecured. l refused to
stand for such transactions. and Kent
well was forced to buy me out and
was glad enough to get away I'M
seorched. Mrs. KentwelI took over my
stock Was it at par? Well. l don't
care to say. She bought the stock
from me, that is all.
Il went up afterwards with Gene
Cutting when he was employed as ex-
pert on the books, and the books OF
the first year, which l had kept per-
sonally. were not there. They must
have been destroyed, There were en-
tries in the new set of books dating
back. but they were not in my hand
writing and were not the original en-
tries. The manner in which the books
had been kept was such that II was
impossible to see where the company
stood financially"
When asked about taking in money
recently, Kaohe, the clerk in the Of
| fee. for Holt did not appear during
the day, stated that he had been told
by Holt not to take any money on
October % and had not taken any IN
since that time. He had evidently
| been coached, as Holt made different
statement on the night before.
Kaohe. with the assistance of the
| $21, $50 worth of real estate, which does
not appear on the tax assessors books
attempted to show that the firm was
| in good condition. He became very
much mixed in his attempts. He
brought out the deed by which Mrs
Kentwell had transferred her property
| 10 the company for stock worth $780,
| n - or show that
| they had real estate, forgetting that
this land had been sold since that time
From all that can be learned Kent
well himself has not q cents worth
| of property in the city. His wife,
through whom the deals were made
| has a home at Waikiki and some prop
| erty at the corner of School and tor'
! streets also a half interest IN other
property in Chinatown. Altogether
| this is worth perhaps $4,000 but 1t Is
said to be mortgaged heavily.
| Attorney General Hemenway yestef'
| day directed Acting Treasurer Hapa
to make an examination of the books
| and accounts of the Hawaiian Realty
| and Maturity Company, and to make
| report of its condition to him. This
was done in the belief that an exae'
| statement of things as they are now
| will be the best basis from which L
work in determining what RESPONSE
| bility. civil or criminal rests on those
| connected with the company. An ex
/ act statement of the affairs OF the con
| Germ as they exist now viii also be tn
| best basis of determining what shoult
| be done in the matter of winding III
| its affairs, either by receivershtp o.
| by throwing the concern into bankrupt
| cy and having a trustee in hankruptc'
/ appointed.
Acting Treasurer Hapai will prob
| ably make the investigation himself
| perhaps beginning it today or at an
rate not later than Sunday. He say
| that the law authorizes the Treasure
/ to make an examination at any tim'
| he sees fit, and also to make an exam
| ination at any time on the request o
| those interested. AS those interested
| have never asked for an examination
it is TO be presumed that they wer'
| satisfied with the way things Were
| going. and the Treasurer has not Eel