The Pacific commercial advertiser. [volume] (Honolulu, Hawaiian Islands) 1885-1921, 1908-08-25

7 Eghtfoot, receiver of the Ha-
waiian Realty and Maturity Company,
the financial faseo of which some
months ago attracted a good deal of at
tention and led to much discussion of
laws intended to protect investors, yes
terday fled partial report of his acts
as receiver.
The report recites the appointment of
the receiver and his duties under his
appointment, and then proceeds to tell
the condition of things he found. The
report shows state of affairs worse, if
possible, than was Indicated by the first
information regarding the affairs of the
concern. The savings of Hawaiians from
all over the Territory were given to the
concern for investment and were not
invested, but as the report very point
edly states, were looted by the Kent
wells. From the lepers at the Leper
Settlement over $4,000 was secured by
the Kentwells, and these unfortunates
will get practically nothing back. The
report continues:
Collections and Disbursements.
E'Under said decree the receiver pro-
ceeded to collect all moneys due to the
company, complete account of all such
moneys received being hereto attach
ed, marked exhibit "A, amounting in
all to the sum of $937.72.
Il l. e. H., Ill.
of property hereinafter referred to that
the property of the company consists
IN part of promissory notes. secured
and unsecured, and l. O. U. IS. These
promissory notes and I. o. U.'s were
executed chiefly by Hawaiians in indi-
gent circumstances, who had been de-
ceived by the promoters and managers
of the company and had invested their
earnings in the company under the plan
to be hereinafter referred to. Except
IN so far as these people are entitled
TO pro rata distribution of the funds
which have been and may be collected
by the receiver, their savings have been
squandered and they naturally object
to repaving the loans which they have
received from the company. Some of
these borrowers. however, are in posi-
tion to repay their loans if given time,
and the receiver, not wishing to place
an additional hardship upon the bor-
rowers, has granted additional time,
giving an opportunity for the payment
of the loans. This is particularly true
with regard TO the mortgagors. If given
time. the mortgages, with the exception
of one or two. will be paid in full and
the receiver believes that this can be
accomplished without hardship to the
mortgagOrs, in from three to four
months from date hereof.
Assets and Liabilities.
"a complete account of the assets
and liabilities which have come into the
hands of the receiver is hereto attached
These assets consist of real estate,
leases. promissory notes unsecured and
promissory notes secured by mort
gage. The real estate was con-
veved to the company with other
lands by deed of l.. K. Kentwell
and Anna Holt Kentwell. dated July
l. 1908 The consideration named IN
this deed was $685. $40. OF the lands so
conveyed. there have been sold by the
company lands TO the amount of $1,000.
The remaining lands are situate. one
piece in Waialee, KOOlaulOa, Island of
Oahu: the remaining lands are situate
in Hamakua, County and Territory of
Hawaii. On a careful examination of
the title to the Waialee land the re-
ceiver is of the opinion that the com
panv acquired no title by the deed
aforesaid. 1t is not in the possession