The Pacific commercial advertiser. [volume] (Honolulu, Hawaiian Islands) 1885-1921, 1908-10-06

difficult problem and taken the first
step towards making Honolulu one of
the most enthusiastic centers of anna
teur sailing in the world. A PROPOSE
ton for the disposition of the yacht
Hawaii was Endorsed and a committee
was appointed to go right ahead and
get subscribers for sea wrens, order
| the parts and supervise their construc-
tion-in fact, to get the one-design
| class started.
The proposition for the disposition
of the yacht was presented by Vice
| Commodore Wilder and met with in
slant approval by all the members
present, as it is very feasible method
of disposing of the yacht and arrang-
| ing for her maintenance until the next
race.
The proposition was made in the
form OF a letter from the Hawaii
Yacht Club to the Transpacifc Yacht
Race Committee, in which the club of
| fers to take over the yacht and assume
the present Indebtedness, subject to
the approval of the donors to the yacht
fund, who in return are to receive
stock and membership in the yacht
club. The following is the letter:
To the Transpaeifc Yacht Race Com
mittee.
Dear Sirs:-We understand that the
Transpacifc Yacht Race Committee is
now DESTROYS of making some definite
arrangements with regard to the dispo-
sition of the yacht Hawaii
To offer her for sale does not seem
to be the proper course to pursue as
the Yacht was built to represent Hawaii
in the transpacifie races and while she
failed to bring home the first prize in
the 1905 race, we should not be dis
couraged but feel that she should be
kept intact for the next race.
Furthermore it seems that TO offer
the Yacht at auction would not bring
one quarter of what she actually cost,
for the reason that the Territory does
not support a yaehtsman who has suf-
fcient means to enable him to offer
anywhere near what the yacht is worth
and. of course, you do not care to sac
rifce her for a song.
This being understood the Hawaii
Yacht Club wishes to present to you
the following proposition:
The Hawaii Yacht Club will under
take the entire control, management
and maintenance of the yacht Hawaii
under the following conditions:
The cost of the yacht was, in round
numbers. $4,000, of which $4,000 is
still owing on a note to the First Ma
ti0naI Bank of Hawaii.
If all donors to the fund which was
raised to build the yacht Hawaii will
assign their interest in the yacht to
the Hawaii Yacht Club. Ltd, we will
make return as follows:
We will assume the $4,000 note. To
all donors we will present stock in the
Hawaii Yacht Club. Ltd, equal to the
amount of their donation, making them
regular members with vote, but sub
ieet to the regular dues of $1.00 per
month, payable quarterly in advance.
We believe that every donor will be
glad to accept this proposition and we
would draw your attention to the fol
lowing advantages:
The yacht would be in charge of a
responsible corporation composed OF
men whose experience enables them to
handle such a matter to the best ad-
vantage.
1t would still be owned by the same
people who would have a say in the
of the yacht at election of
officers.
It would turn the yacht from an I'M
something into real asset as
it would be owned by a corporation of
standing and responsibility that al
ready owns property Of absolute value.
1t would be splendid encouragement
to the sport of yachting generally and
would promote interest in that grand
sport by introducing many new mem
Ders to the club who would. doubtless.
take more interest in yachting on be-
coming members of the club.
We believe that those who have do
rated to the fund and do not care TO
Join the club would be quite ready to
urn over their interest in the yacht to
his organization. We would suggest
hat a letter be addressed to all do
lors to the Yacht Hawaii fund placing
he proposition before them and en-.
losing slips to be signed whereby they
.onvev ali interest in the yacht to the
Hawaii Yacht Club. Ltd. in consider
ItiOn of stock in that corporation.
Trusting that you viii give this mat
er vour very careful consideration.
After the above letter had been read
t was at once approved, and Commo-
lore Cooper stated unoffieially that he
relieved that the transpaciic commit
ee would readily accept It A motion
vas then made. and carried unanimous
'. that Mr.. Wilder be empowered to
ppoint a committee to confer with
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