Honolulu star-bulletin. [volume] (Honolulu [Oahu, Hawaii]) 1912-2010, 1914-04-13
(Conunued from page onep

Wallace r. harrington and providing
that the Carnival reiMhurs" the Pro
motion Committee for funds expenc
ed by the latter organization toward
advertising the 1914 celebration. form
cd the basis of considerable discus
sion. and finally WIS definitely refer
red 10 the new directorate.
The lew board PROBABLY Will L cot
at an early date. at which time tie
matter OF the s. lection Of dire ctor-
general for 1915 will be taken up.
Following Is the report Of the pres
idcnt:
In times heretofore t had been tho
custom OF the Hawaiian Promotion
Committee each year 10 appoint a
chairman Of finance committee, the
chairman TO select his own committee
TO raise funds for the succeeding Gel
ebratiOn on February 22nd. On Aug.
ust 9th, 1913. II was my privilege to
be appointed chairman CT the commit
tee for the 1914 carnival. AS fellow
II RENDERS to serve with me ] secured
Messr3. T. NJ. Church. f. n. Paris, r.
A. Cooke, Jas. L. Mclean, and S. NJ.
LOwrey. At my request Mr.. LoWrey
consented to act as treasurer. We OF
ganized and met the directOr-genera!
Mr. James D. Dougherty, and learned
of the program proposed. That was
our first surprise We found we were
to finance something quite different
from floral parade, and that, TOO, in
a year when there were various rea,
sons to anticipate greater difficulty
than heretofore in securing cash dOna-
lions to foot the bills. 1t was quickly
learned that cash was not to come as
easily. In cases where large firms
had previously contributed, say $3.50
in cash each year, We were told that
$3.50 would have to dc for this year.
Right and left We faced. these instar-
ceS, which showed clearly that We
were dealing with new conditions. The
amount raised in cash by the previous
finance committee was 1920. 1t seem
cd, therefore, that we might count our
selves fortunate If We could ITaise
$4,000 or $4,000 in cash. for the 1914
carnival-a much larger undertaking.
while estimates submitted by the
promised receipts as
we'll as expenses, we dared not enter
tain the plan without satisfactory ar
engagements to fall back upon to save
cur being individually responsible for
a possible deficit. We attacked the
figures, and cut down the receipts anu
raised the estimates of cost. but still
we needed the guaranty behind us.
we would surely have had
to cut down the program, and this
We were loath to consider.
AT this point we felt that &c Ne
were, in a measure, in the service OF
the Promotion Committee, we should
look to them for the desired
guaranty. The case was presented,
but we were told that the Promotion
could not risk its funds or
undertake the liability of a deficit, ana
we were further advised to go directly
10 the commercial bodies inasmuch as
the Promotion Committee was itself
only a servant of those bodies. 1t
was indicated to US that raising the
money was our function; for that we
had been appointed. Desiring still to
keep the program intact, if possible,
we conferred with Messrs. Geo. r. Car
ter. president of the chamber of CON-
nerce, and @. G. Swain. president OF
the merchants association, and Sc
rured their advice and cooperation in
he arrangement of a Joint meeting OF,
the two bodies named The meeting
was held in this room on November
Ii, 1913. A plan was nresen+o1 co.,
the organization of a cor
Doration and the issue of shares of
stock in order to have the
stock subscriptions serve as the de-
sired guaranty. The plan was in,
iorsed We arranged with the HOMO.
ulu AID Club to flcat the stock. and
how we'll they handled this work you
al know. We were able TO incorpor-
ate with capital Of $40 600 instead of
100000 This reduced the burden of
30 per cent to each sub
scriber.
Features Of Corporation
1T took time to get the stock sub
into shape, but we finally
effected incorporation on February
18th, 1914, when the articles of asso-
,iation were filed. 1t may be men,
Toned that at this time we found that
he cost of recording the list of sub
scribers names, and the number of
shares taken by each. was to be so