Honolulu star-bulletin. [volume] (Honolulu [Oahu, Hawaii]) 1912-2010, 1915-09-20
.HLO RAILROAD
TO BE SAVED For
OWNERS Of BONDS
tcontinued trom page on !, j

senting the owners Of the 81 600. 0ol
bond Issue Of 1904 and the other, thi
$500, COO bond issue OF 1909.
For several months these gentle
men have been working on the pial
OF q bondhOlders' protective agree
ment, and have now concluded theii
labors The agreement constitutes
the Following gentlemen committee
10 represent the bondholders:
w. T.. Botfomiey Of the banking
house bf bishop & CO.: A. \. Camp
bell OF the Henry Waterhonse Trust
Co., Ltd. j.. n. Gait OF the Hawaiian
Trust Co.. Ltd: Al. Lewis, IT. Of the
Bank Of Hawaii. Ltd: e. |. SDaldins
Of the Bank Of Honolulu. Ltd John
Waferhouse Of Alexander q Baldwin,
Ltd, and E. H wodehouse Of T. H.
Davies & Co, Ltd
The Hawaiian Trust Company,
Ltd. has been named as dep0sitafy.
The parties Of tha third part are
10 be all OF the owners on bonds OF the
Hilo Railroad Company who desire TO
avail themselves or the provisions Of
the agreement and who deposit their
bonds with the depositary y. r. Gast
Of the Hawaiian Trust Company. Ltd,
Is the presiding officer OF the commit.
tee. A. F. Judd OF the Guardian Trnst
Cumpan, Ltd. has been appointed b.
the committee their executive secreE
tary. go
sif the coupon interest delinquent
since April 1, 1915, Is not paid by the
railroad on October /, 1915, the agree
I1ent authorizes the committee to take
such action as they may deem adyis-
able to calise the trustee under each
Of the bond ISSUES to take possession
OF the property, OF 70 catise q receiver
s7tp be appointed by the court and TO-
catise the property of the railroad TO
be sold. In case Of q sale the commit
Zee IS authorized for the bondholders
TO bid at the sale.
Organize New Company.
should q sale result ii the com.
mittees buying the road, they are
given authority BY the bondholders
70 organize a new company TO take
oFer the railway, with q capital Of
such an amount as the committee
shall In their absolute discretion think
ri, paying for the property.
First mortgage 5 per cent.
bonds Of an issue Of such al amount
aA Lne con.snlltes snalk asteli.,ailt D' =
not exceeoing sz.sVo,ovV.
seven PSF cent palq up anu
: non-e1s sssa9ie preferred STOCK q ~
issue o. sncn an amount az the com
t4..see snali edetefiIlihes
TX Per cent npnsesltsitiatlse
pEeterFea STOCK Or az issiie q q. &, sAcih. an.
alnoqnt q the commlttee snati' ldeter-
i4lns.
common STOCK oI an issue ol.
hnch an amount ou. NOT ekceeains the
Gum OF stev'vvv ana eltper pald Up oI
tssessanies OF partly paIq uR ane -
- me osi9nes $500 - .si'e Gun
nilstee snhii oetslinins
a the committee nno i 0esirapie
% pufenase tns Ia.ir9e 20. sanq lo ssl.
new company, Dy the agreement tney
are sifeh aAehoLiss " SAe11alss ..ls
eonos nAu c0 19l,gs1 ospos..ea WI
mem Iol see s,, y sne new con-
lany n sne iolloNlns m ,.Ils ~,
Inc oMne.s q Dones q lsvl
lssss eEs q leceise tns new per ea
cent pones - RaI - an al. y w ~ -
ut esht ~ tne pIihcli,aI y aue 1919, 49,.
oeRes,ts4 Y tns.h' nv ere - lsSe.sf
ne per es11 plel ls' seycA g ReL
e On Alnoent q - pr GENT = ~ tIle
teL se,es u aiis pIlnslpal ~ .ue oolus
uepOslteo py thehhs, anu Also 70 me.
iuh amount q tne lnseIess ca moss
ponos ron t1s Gave = W Il. ~ wnssn ".
.eIese nas e,ssl psle tns'l eol ~ ans
oate Mhen ne PEI cent y = sEIe e
sseek may Is -
tts4, fUJ.t7 oltu1I1lky tue tMutfo u tnci
tsVs bonus viii Ieceiss vphus anu
stock only as % them the proportion
VII. ps ~. ~ per sslk ~ eaen case *
Y WI DC neted that z the railroad
should unqer the new COMPANY pc
able 20 earn qiylqend qL & per cent
On the per cent preferred STOCK the.
present pondholoeFs VIII then receive
by sucn dividend ana by the interest
coupons on the new bonds suDstantlaE
y me same amount Wnlch hey are
now entitled TO receive from their E
per cent bonds.
As IL is not known by the commit