The Hawaiian gazette. [volume] (Honolulu [Oahu, Hawaii]) 1865-1918, 1914-12-04

Land Company as of january /, 1915.
Lands buildings and power
plant s......+. ~. .....$ Z; 1880
Roadway and overhead line. IfO,2SO
\ Rolling stock and motors. 25fA54
Equipment, tools and sup
plies .......s..... 81 ,e7s
sf,Sds,ao7
Sources Of Capital
Snsh paid BY stockholders e 006,500
Cash from sale Of bonds 5f0.OOO
Cash from contributions $4,000
Cash from earnings 1880. 3ss.DO7
- sl.sg3.4O7
$l34OO0 Of these bonds have been re-.
tired from surplns earnings.
Intangible and vaiueIess Ledger Ac.
count Comprising the Honolulu
Tramways Franchise purchass.
The actual property involved in the
Hawaiian tramways purchase was long
since absorbed, leaving only the in.
ltaneible value of that franchise which
lcxpires September 10, 1915, and has
I no value.
Ledger Account
Hawaiian tranwpys franchise
purenase ,.s. ~, .....i.s.. .S2SJ,5J0
sources CT Payment i9s
! (e) Honolulu H. r. & L. Co.
Stoek issued .y.f.,. ....s ..$lOl 900
/ (d) Honolulu r, T. & Il. Col,
\ bonds issued 1850 600
Cash and earnings ...&..... $3.50
$255,550
No stockholders (c) or bondholders
! cd cash went into this Transaction.
but II was paper transaction that
must be ultimately made good BY the
public through surplus earnings retir-'
ing the above evidences Of obligation.
70 the amount Of $251,Q00.
Ledger Investinent Stock, Pearl Har-
Dor Traction Co., ltd.
NO consent of the territory through
lits representative, the superintendent
Of public works, for the below invest
rment Of surplus earningssis Of record.
stock, Pearl Harbor Traction
Source Of Payment
Cash from earnings il. r., T. &
y 70. s...,,. ....-..f... $50 2f
Bonus Capital and Dividends
These, properly eomputed, arc as
binding on public good faith as IS the
preservation Of the stockholders cash
capital paid in by them.
II, through manipulation based on
Originally undisclosed. unanalyzed pow.
ers and privileges, the public Is de.
PriTed' Of its rights and emolumehts,
the facts should be- fully comprehend.
90 by- y intereste,k,ro- 4svo e't5ss =
Bonus Capital
This is controlled by section ST.,
lines 4, 2, 3, 4, 5, and the first eight
words Of line 9, chapter SO, r. l. 1905,
IL shall not be lawful to increase
the capital stock Of said corporation
at any time In excess Of said 5000 900
unless the proposed increase shall when
taken with the said original capital
stock, represent only the ACTtTAI,
COST OF THE IROPERTY of the
said railway and not over 25 per cont
OF such cost in addition thereto. ,, ~
Statement Of Stockholders' Actual
Cash Capital Invested In Actual
Property and Legal Bonus Thereon.
Total cash paid in $3.50. $500. 500
Total legal bonus, % pet cent. l5I,695
Total .....a.a. \. .$75s i2S
Dividends
These are controlled by section s5l,
/ Y .
Dividends MAY BE PAID to the
Estockholdcrs not TO exceed FIGHT PER
CENT on the par value Of the stock
II by design and cagerness TO issnea
non.eash paid stock, there was any
hiatus in the original Stockholders r.
cciving continuous maximum legal div.
tdends, i is not pertinent to this anal,
! ygis
Dividends Accrued and Paid TO Janu.
airy I, l915--As Going Concern from
January l. 1908.
On stock paid for by
| Capital Dividends
stockholders (. ~. $606,50O S544 O00
On stock bonus . 15l925 $4,000
$1,000
$75s,l2
Dividends in full at legal limit 1886, 500
While the last quarters dividend Of
1914 has rot been paid, the fumes
therefor, SEA, $50, arc in the trcasnr.
er's hands
There have also been set aside the
| TWO following " Suspense Dividends +:
June "a 1919, account Of pend
ing franehise lI.....!..... S3l 400
NN'VNAl VI RNhu-f wv.
ing franchise ..,,,..,,,... 1900
100
Present Capital stock Issued
~ present the capital stock issued
amounts 70. $l,2O7,5Oo and on ii divi-
lends are being paid equal to the 10.
gal masimpm Of 5 per cent or $4,000
per anBnIn
The eifeft Of this rate Of dividend is
disclosed by the price obtained on the
per value (Sl00) Of shares at the last
sale Of Rapid Transit stock in Juno,
isl4, when the stock brought one hun.
bred and sixty (sl0ol dollars per share,
Or the equivalent Of capitalization
Of 81 ,9S2, 900
Honolulu Rapid Transit and lana Com
pany. Summary OF SURPLUS Earnings
Up to December 81, 1914.
Revenue, aboveioperating exp.
and taxes 10 Oct 81, 1914 .$2. i97.lO1
Reyenne, aboyas. operating
EXP and Taxes, for Nov,
1914 ,.,s ,s, 1884
Revenue, above operating