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

anc6 COumlIEee Oh the proposed cor
Iporation to be known as the Mid
Pacific Carnival. Limited, to draw up
| q prospectus of the stock-selling cam
paign which the Honolulu AID Club
win conduct January z. 1914, this
afternoon submitted q completed
draft Of same to the finance commit
tee. The prospectus was unanimous
n adopted and more than 5000 copies
are to be mailed to the prospective
stock buyers.
Following is the prospectus In full s
What has heretofore been called
the Floral Parade has now been
merged into larger and grander
scheme, and will broaden out into al
Carnival Week, to be known as the
Mid-Pacific Carnival The event IN
years past has been held on the 22nd
day Of February and has been I'M.
tanced BY popular subscription, and
!. the monies thus collected expended
ION features and events which We're
only spectacular and were IN no way
revenue producing It is now pro-
posed to place the Mid-Paciic Car
nival on q self.supp orting basis In or.
lder that the work and the aims Of
1.-THE annual event may the better be-
lcarried out The carnival scheme Isl
/ to promote grand advertisement Of
our territory, and a. the same time
give the general public entertainment.
and something for their money
| In order that the money which
Twill be required to start the carnival
| may be assured. and the directors
General enabled to make plans for
certain features, which will there
after become revenue producing, it
is proposed to form corporation to
be known as the Mid Pacifc Carnival.
!. Ltd. This corporation viii be
formed with capital stock Of
$4,000, divided into 20 900 shares at
par value Of 81 each This stock
will be issued as assessable on all
subscriptions In excess Of SO or paid
up to the limit of ones subscriptions
should they So desire. As the-st0ck
proposition is simply an underwriting
plan. It IS proposed that only 2 10
per cent assessment be made at this
I time on all subscriptions over SO.
and it Is specifically agreed that not
more than SO per cent assessment
can be leYied during any one year.
Prospectus.
CapifaE $2O. 900.
Shares q, 900 of the par value Of
81 each.
Stock To be subscribed from as
great d number as possible
Object TO place the annual Mid
Pacific Carnival on q permanent self
supporting basis.
Officers To consist of at least sew
Ten f71 directors who shall elect such.
Officers as they deem best.
Management To be conducted in
a thorough bnsiness-ilke manner.
/ Profits 10 be set aside for finane-
ling larger and better carnivals IN the
D 81 sohs 6 Be paill
Estimate for the 1914 Carnival.
Estimated Expenses s is !. 900.
Estimated Returns %, 900.
Estimated Net Profits 600.
AS above it is estimated that the
total outlay for this year will be 81
iDCC: however. the permanent appara.
tus, such as portable hleachers and
other features do not call for pay
ment until the 1914 carnival IS over.
!. 1t is estimated that under favorable
weather condi ions not more than %
iper cent assessment viii T. called for
during 1914 and from fgures furnish
ed the finance committee hy the di-
rector-general Il IS shown that not
more than so per cent assessment
could be required under the most UNI
favorable coHd ifi0ns
-
funds on hand before the carnival Is
not great but the need Of g strong
backing and guarantee of funds, IL
case Of bad weather or other unfa
ycrable and unlikely contingencies, Isl
of utmost Importance.
You will note that your subscription
becomes part Of q permanent organi-
zation TO finance not only this years
carnival but also those to follow, and
/ the general plan is to relieve the
lcommunity Of the repeated call for all
the money each year to carry out its
parade features. The sself-supporting
/ plan has therefore been launched.
The directOrgeneral's estimate OF
income on this years features will
aggregate $23 900 and is to be gath
lered from the following features: In.
terisland baseball series, Mayor Of
Tokyo (eomic opera at Oahu Col.
lege gronndsl, swimming meet fim-
ported swimmers, water carnival tho
lnolulu harbor and eruption Of Punch.
bowl "lNooing of Uni and Piikean
lat Waikiki beach, pyrotechnic display
Eat baseball park, Japanese lantern
parade. carnival ball at capitol, Floral
Parade, Mardi Gras ball at Armory.
tportable bleachers (seating capacity
10000 @
The handling of subscriptions has,
been assigned by the general finance
lcommittee to the Honolulu Ad Club.
who will solicit and collect subscrip-
lions and issue temporary receipt
which can later be exchanged for a
certificate of stock in the corpora
/ ton Each subscriber will have q