Honolulu star-bulletin. [volume] (Honolulu [Oahu, Hawaii]) 1912-2010, 1914-05-28
{. {. PAXTON
MAKES REPORT
ON COPPER CO.
Tells of Accomplishments on
the Property Since Date of
His Arrival, April q
MANAGEMENT AGREEMENT
RATIFIED AT MEETING
Outlines General Plan OF 0per-
alton and Policy of Handling
the Mining Property

: Z
Considerable local interest has
been evidenced In the first report on
the Engels Copper Mining Company
mabe by E. Z. Paxton, who resigned
his position with Alexander e Bald
win to become treasurer and manager
OF the mining company. A large
amount of the stock in the copper cor
poration is held locally.
Parts OF Mr.. Paxton's report are
given below:
Preliminary Report.
Il take this occasion to briefly re-
port on what has thus far been ac-
complished since my arrival here on
April 22nd.
Reorganization.
Pool Agreement. This has been
duly executed by the five trustees,
to-wit: Messrs. Klamp, Paxton, Hum
burg. Rolph and MouIton The agree
ment has been approved by the Com
pany's attorney. and Is now in full
force and effect, and represents q ma
rority OF all the stock issued. A copy
of this agreement has been sent to
Messrs. Bishop & Company, where 1t
can be examined by any stockholder
'Stockhold lders Meeting. Stock
holders meetings have been duly and
regularly held increasing the capital
stock from 1000, 900 to 1,500, 900
shares. par value $IO0 each. of which
21S, 900 shares will remain in the
treasury after the issue of the new
stock and which will be held for fu.
ture development with the exception
CT a small amount which may be is
sued to employees at not less than Soc
per share, The board OF directors has
also been increased from five to sew
en- members. the new board consist
ing of Messrs.; Henry Engels, !. j.
Truman, Jr., Richard Spreckels. F..
K1amp. J. F. Humberg, O. G. Trap
hagen, E. e. Paxton, the last four.
names Representing the Hawaiian
st0ckholde ders.. The following officers,
have been appointed by the directors
for the ensuing year: Henry Engels,
r. Klamp, yice-president;
Landon A. Bell, secretary; E. z. Pax
ton, treasurer and manager. Messrs.
Kiink, Bean & Company haVe~>beenl
appointed auditors with Instructions
to make q semiannuaT audit Of the,
company,s operations, both at the
mines and in San Francisco. This
firm audits the books Of Messrs. Alex
ander- & Baldwin, Ltd, OF San Fran.
cisco, and a number of other respon-
sible corporations.
"By-Laws.-The bylaws of the com.
pany have been amended to conform
as nearly as possible to the usual
practice In the Hawaiian islands as
far as the California code will per.
nit, the duties and responsibilities OF
The several officers being identical
with the usual practice of Hawaiian
Agreement with E. E. Paxton
The agreament with the writer under
which the general management of the
operations and financial af.
fairs is placed in his hands, subject
only to the general control OF the
board of directors, and as approved In
writing by the Honolulu stockholders, |
was formally ratified at the meeting |
1f the stockholders.
for New Work.
.Mr. Henry e. Bush has been ap.I
pointed general foreman or superin-l
tendent to have charge of the actual !
mining operations. Mr.. Bush has had
IL years experience in the Balaklala
md other copper mines In this state
md Is highly recommended by his for
mer employers as being especially
.rained for underground work A com.
Detent man for the position of ac-t
store keeper and time keep
sr has also been secured and who has
rad several years experience in such
at other mines. A general
system OF reports and accounting for
ash and supplies has been laid out.
"The above parties have been en-
yaged at very moderate salaries to be-
,in with, with the promise OF reason.
Nranftnuads IN r,aOn fhraal