Evening bulletin. [volume] (Honolulu [Oahu, Hawaii]) 1895-1912, 1907-01-28

ing that question was tried. The cotn- |
sci who represented the company were
and are Of the opinion that such ship /,
ments did not come within the inten-
ton or the language Of the law: that
an attempt Ia make the Act retroactive
would defeat H. The court held other
wise. The United States Attorney
claimed that Tor every shipment In re-
spect of which rebates were alleged to
have been received. the company was
liable for the acts Of its subordinates:
that for each shipment there might be
separate Indictment IN count. and
upon each there might he imDOsed a
fine up to $4,000. That the company
was liable for. the acts Of Its freight of
iicers was held bs the court. In the
case Of the Cooperage company the IN
| dictment contained twelve counts. II
charged rebates TO. the amount Of 81 ,3O5.
| The total amount Of seven counts was
sG2G less than $50 each. The fine inn
posed was $4,000 On each, $4,000 IN
all
with all respect to the court. Its de-
cislon failed to convince the board or
| its counsel OF Its correctness. The
court. however. having ruled as II did.
the board felt that Il was justified In
acting accordingly; and. In view Of the
whole situation, II was Of the opinion
that II was In the interest Of the stock
| holders to settle on the basis Of pleas
\ of guilty and penalties of the total
amount OF Si50.O0O addition to $4,000
imposed by the court in the case that
was tried
! 1--WE have 1909 holders OF preferred
and common stock. II can readily be
seen that the interest of no individual
IL large. II is the stockholders who are
hurt by such proceedings. The officers
of the company will continue to do
what they can to prevent In the future
any claim that the company does not
comply with the Interstate Commerce
Act. Whether It will be able In every
case to anticipate just what doubtful
points will be ultimately decided by a
court, remains To be seen
"a receiver Of the PENNSYLVANIA Sug-
ar Refining Co.. one of the schemes OF
AdolDh Segal. threatens proceedings
against the company. II president. Its
counsel and others. In which he claims
large sums Of money for alleged viola
4 ton OF the law. am advised tina.
there Is no legal foundation for any
such proceedings. II commenced, how
ever II will he necessary to meet them.
A petition for leave to start proceed
ings has been filed by the receiver. q
copy Of which Is open to the stockhold-
ors for their examination.
This statement Is submitted for such
action rs shall be thought suitable by
the stockholders.
Il repeat what heretofore frequent
ly have had occasion to say. that the
members Of the board wish That more
stockholders would attend IN person
the annual meetings of the company
"Of the 100000 shares outstanding OF
preferred and common stock the hold
ers of 5i7 500 shares have sent proxies
for the business of this meeting. The
stockholders were informed ilg, an
less they wished otherwise, their prox-
les would be used for the reelection
OF Messrs w. Is. Thomas an6 Charles
II. SEMI. whose terms of Office expire
have heard of no wish 10 the con-
trary. The board accepts this as EVIL
dence of confidence by the stakeholder
In the administration by the beard al
- tho .nmnnnv'g buSinpss n Wuull n,