The Hawaiian gazette. [volume] (Honolulu [Oahu, Hawaii]) 1865-1918, 1914-04-14

? I 4 y . .
fffTha total cost of the bleachers
Rrnonnted. to 43011 so. Although we
believe that tbe life Of these bleachers
jedpers, statiouery, receipts, etc., 800 %;
win bs from four 10 ave years, it was
kbveFtbtless deemed advisable TO write
OF to profit and loss for depreciation
the snm Of $lO11 so, thus leaying them
as ian asset Of 5000 TO the corporation
IA segregation of all the other ae-
counts could readily be shown,if time
permitted, f'
Tn summing up, the results show
that The entire Carnival was run on
such a basis that II was only necessary
10 60 into the capital Of the corporation
~, Il be- extent Of ,$2206 so, donations
rot having been sslgssed as s9Ep0rataI
~ gpnsidcripE rtiie many new and
elaborate features introduced by Mr.,
D0hRherty, with only meager financial
stafistits to 20 By, tile many and fire.
,queRtly uBantieipatad heavy expenses
eoRneeted with the floating Of a cor.
pofafion, the duties Of the board Of
directors have necessarily had 10 cover
hl4fRb field. / Trust that iyon will be
satisfed with the result as above
= Incorporation was effected on Feb-
ruafy n, 1914, when the articles Of
asfociption we-e filed. At this. time
we found that the cost of recording
The list Of Subscribers, and the number
Of shafes taken BY each, was to be 80
grbat chat we sex6ded ii by effecting
Incorporation With seven individuais
iOnIy-fhe six members Of the finance
committee with the addition Of the al.
rector general with the merely nom
mad capital Of $3.50. As soon as m 4
f6ng marx was placed on the articles
Of Association, and we seven were re-
solved, into, a legal corporation, we
Acted under the privilege Of increasing
the capital stock and adopted reso.
mtioh, right in the Territorial Treas
,nref q Office Increasing our capital 10
The deskred $4,000. Then. meeting
q board Of directors, We accepted
the stock subscriptions secured by the
I.Ad' Club, The difference in cost was
approximately $40, saved in recording
sAssurancs or oredit wins.
~ wili mot anticipate the report Of
the treasurer; but when YOU hear ii
read \ wish, you TO bear in mind that
the average business houses and men
who previously contributed cash, this
year merely sVbscyibed for an equal
~. tess amount OF stock, and paid only
Ken per cent Of IL, and even this was
not spent, out ana out, but invested by
our e0minittee ana turned over md
while II lost somethmg IN the turning,
y is good for more work. What we
did get which backed the 1914 earni
yai, was the guarahty Of credit behind
IRE stock subscriptions, which, We hope,
Will serve for years 10 come, before
Pqs is reached.
Where we made MISTAKES we made
them honestly, and we tried not 10
make the sanle mistake twice. Crit,
cispis ware freely offefed--some frank.
" and well founded, and these we al
Ways welcomed; others came from that
clRss Of individuals who are merely
kickers' who, view the work of Others
from the side-lipes and do not pause
to consider. We DO feel that some OF
the aesnissiOn charges were higher
than they ought 70 have been. and 9th.
- NtAoNAN nNNC DCCu kFHuou, DuJ we
could not fe'Inould our plans and our
budget In the middle OF the stream.
The fpsult vas worth the experiences.
This corporation was launched on
certain representations as to its pur-
poses and what we hoped to accomplish.
We sought to put an end as far al
possible to the annual calls upon the
merchants for money, by investing
rather thah spending their money; in
short, 10 get this annual enterprise on
q more or less permanent basis BY max
ing il substantially disappointing
| We asked for stock subscriptions, and
the Instances were few where the sub,
sAriptiops exceeded in amount the
amount Of cash ordinarily given, per
contributor, before,
YWe. sought, further, to divide even
the burden Of these subscriptions owe;
several years or more. ,..r, MT
I CONFIDENT Of self-support.
f'Now has this carnival been thus
far self,supportingf Practically, yes
perhaps, but actually, no. Neverthe