Honolulu star-bulletin. [volume] (Honolulu [Oahu, Hawaii]) 1912-2010, 1913-12-18

ance committee Of the proposed cor.
poration TO be known as the Mid
Pacific Carnival. Limited, to draw upI
q prospectus or the stock-seIling cam
paign which the Honolulu Ad Club
will conduct January Z, 1914, this
afternoon submitted completed
draft OF same 70 the finance commit
tee, The prospectus was unanimous
" adopted and more than 5000 copies
are to be mailed to the prospective
stock buyers.
Following is the prospectus In full:
What has heretofore been called
the Floral Parade has now been
MERGED into q larger and grander
scheme, and viii broaden out into 81
Carnival Week, to be known as the
Mid-Pacffic Carnival. The event In
years past has been held ON the 22nd
day Of February and has been I'M
anced by popular subscription. and
the monies thus collected expended
.On features and events which we're
only spectacular and were In no way
revenue producing. II is now pro
posed TO place the Mid-Pacifc Car
nigal on self-supporting basis IN or
der that the work and the aims OF
the annual event may the better be
ito promote grand advertisement Of
our territory and e. the same time
give the general public entertainment
and something for their money.
.9n order that the money which
win be required to start the carnival
may be assured. and the director
general enabled to make plans for
certain features, which will there
after become revenue producing. IT,
Is proposed to- form q corporations to-
be known as the Mid-Pacific Carnival.
Ltd. This corporation win be-
formed with capital stock OF
$4,000, divided into $4,000 shares at
par value Of 81 each. This stock
wiz be issued as assessable on all
subscriptions In excess of $40 or paid
up to the limit Of ones subscription
should they so desire As the stock
proposition IS simply an underwriting
plan. ii is proposed that only 3 10
per cent assessment be made at this
time on all subseript fons over $40,
and it is specifically agreed that not
more than 80 per cent assessment
can be levied during any one year.
Prospectus.
Cepital $2O, 900.
shares 900 Of the par value Of
81 each
Stock TO be subscribed from as
great number as possible.
ObjectT place the annual Mid
Pacific Carnival on permanent self
supporting basis.
Offieers TO consist of at least sew.
en- directors who shall elect such
cffcers as they deem best
ManagementA1To be- conducted inI
] thorough business-ilke manner
Profits TO be set aside for financ-
ing larger and better earnivals In the
future.
Dividends None To be paid
Estimate for the 1914 Carnival.
Estimated Expenses Is, 900.
Estimated Returns s2S .000
Estimated Net Profits 600.
. As above It Is estimated that the
total outlay for this year win be $751;
.0oG; however, the permanent apparas
tus; such as portable sbleachefs and
other features, do not call for pay
ment until the 1914 carnival is over.
IT is estimated that under favorable
weather. conditions not more than %
per cent Assessment will be called for
during 1914, and from figures furnish.
ed the finance committee BY the. d.
rector-general. ii Il shown that not
more than so per cent assessment
could be required under the most I'M
favorable conditions.
The need for large amount Of
funds on hand before the carnival IS
not great, but the need Of q strong
backing and guarantee Of funds. IN
case of bad weather or other unfa.
vorable and unlikely contingencies, is
of utmost Importance.
You will note that your subscription
becomes part Of permanent organs
cation to finance not only this years
carnival but also those to follow, and
the general plan Is to relieve the
community OF the, repeated call for all
the money each year to carry ont its
parade features. The self-suppOrting,
plan has therefore been launched.
The directorgeneral's estimate Of
income on this years features viii
aggregate $4,000 and is to be gath
cred from the following features: In
terisland baseball series. Mayor Of
Tokyo tcomic opera at Oahu Col
lege groundsl. swimming meet fin.
ported swimmers, water carnival Tho
nolulu harbor and eruption of Punch
bowl 'Wooing Of Uni and Piikea
at Waikiki beach. pyrotechnic display
TAT baseball park Japanese lantern
parade, carnival bali at capitol. Floral
Parade. Mardi Gras ball at Armory,
portable bleachers 1seating capacity
s000)
The handling of subscriptions has
been assigned BY the general finance
committee to the Honolulu AID Club,
who wiz solicit and collect subserir-
tons and issue q temporary receipt
which can later be exchanged for
certificate of stock in the corpora
ton. Each subscriber will have
yrfsfa In fbo affofrr esf f1,s, 49,