Honolulu star-bulletin. [volume] (Honolulu [Oahu, Hawaii]) 1912-2010, 1913-04-04

The entire proceeds of all stock
and bonds issued by said corporation
shall be applied to capital expendi-
ture, and no money shall be paid or
property distributed by said corpora
! ton to or among its stockholders ex-
cept out of earnings unless the cap
ital stock shall be reduced correspon
dinghy nor, except as provided by law
or approved by said commission, shall
said corporation purchase or invest in
the stock or bonds of any other COR
poration or any property not reason
ably required for the construction,
maintenance or operation of its rail-
way and the equipment and works
connected Herewith" Il
Section 8. That said Act SO and Act
20 of the laws of Hawaii of 1898 are
hereby amended as follows: 3
Add to section of said act SO (re-|
vised laws, sec. $3.50: Corporation
shall refer to and mean the corpora
ton referred to in section 2 of this
act and the holder of the franchise
granted thereby. Political division
shall refer to and mean the city and
county of Honolulu or such other po-
litical division of the territory of Ha-i
vail as may be designated by the leg
islature of Hawaii; 4Td board of SUI.
pervisors' shall refer to and mean the
board of supervisors of said city and
county of Honolulu or such other body
as may be designated from time to-
time by said legislature"
Strike out governor" and super.
intendent of public works" and "su-1
perintendent of public works, with the
approval of the governor" and with
the approval of the governor, the SUI
perintendent Of public works" in sub
division II of section 2, subdivisions
1, 2, 5, g, 9 and 10 of section 4, section
8 as amended by act Is of the laws of
Hawaii of 1905, Subdivision of sec
ton 9, subdivision 3 of section 20,
section SO and section So of said act
SO and section of said act 20 (revis-
ed laws, secs. 836, 1913, S42 as amend
ed, S43, S54, 1854, S6S and S70) and in
sert in lieu thereof commission re-
ferred to in section of said act SO as
amended, except in the first two
sentences of said subdivision g.
of section 20, in which sentences
insert in lieu thereof "appro-I
pirate authority" n d strike
out "or other officer duly appointed
by him." and in said section 33 strike
out him" and insert in lieu thereof
cit" .. -.
Insert land such political division
or COR such political division" as the
context requires, after territory" and
territory of Hawaii" wherever they
occur in subdivision of section and
subdivision of section 20 (revised
laws, secs. 83S and S64); and in the
first paragraph of said subdivision 8
of section % strike out shall" and in
sert in lieu thereof may.
Strike out attorney general of the
territory of Hawai-. or any other per-
son to the use of the territory" in
section 8 of said act 50 (revised laws,
sec. S42) and insert in lieu thereof
attorney of such political division, or
any other person to the use of such
political division"
Strike out department" in section
81 of said act SO (revised laws, sec.
1861 and insert in lieu thereof "ofI
such political division.
Section 9. Sections IA and II of
said act SO (revised laws, secs. 84S5
and S49) are hereby repealed. !
Section 10. This act shall take eff
feet when the Honolulu Rapid Tran
sit and Land Company, the holder of
the franchise granted by said acts SO
and 20, shall notify the governor of
Hawaii in writing that it has accept
ed the terms hereof by an affirmative
vote of the holders of a majority of
its stock; provided. that this act shall
be approved by the congress of the
United States within two years after
it's passage by the legislature of the
territory of Hawaii, and that said Ho-l
nolulu Rapid Transit and Land Com
pany shall notify the governor of such
acceptance by it within six months
after such action by the congress of
the United States. Upon receiving
such notification the governor shall
publish notice thereof in aGlewspaper
of general circulation published in the
city and county of Honolulu.
There will be special meeting of