Honolulu star-bulletin. [volume] (Honolulu [Oahu, Hawaii]) 1912-2010, 1916-11-14

company.
Again this afternoon the utilities
commission is considering the report
OF II. Gooding Field, the special audi
tor Tor the board in connection with
It's investigation of the Inter-Island
Steamship Company.
AT Mondays hearing the report
came up and objection to the intro
duetion of parts of it or to the making
public of such parts was made by
counsel for the company. There fol
lowed recess" an executive" ses-
sion or secret" session as it was
termed by some but at which Charles
X. Forbes says that any one could
nave been present and when the regu-
lar session was resumed certain pages
were "deleted" or not admitted and
these Field mentioned in his testimony
during the afternoon without being
permitted to go into the text of such
portions of his report.
AS stated by the Star-Bulletin Mon
day, the executive session was the re.
suit OF a protest from L. ]. Warren.
attorney for the Inter-Island, in which
he said that certain matters in the
report should not be made public ne
II was outside the scope of the investi.
cation. Chairman Charles r, Forbes
suggested that half hour recess he
taken to talk over the report infor.
mally with the Inter-Island officials.
commissioners Garden and Gignoux
agreed, and with J. L. Mclean. N. T.
Gedge OF the company and Warren
and Paul Bartlett of counsel, adj
journed to another room.
The half hour up the meeting re.
turned to the regular room and the
hearing automatically became public
again, and Field continued the reading
of his report, skipping the pages
which had been expunged during the
session in the other room.
The hearing then revolved around
the protest of the commissioners that
the lnter-lsland had wiped out it's de |
probation reserve fund of $432, 02O.1t
and charged il to the surplus account
This the commissioners said the com.
pany had no right to do as the de
probation should be represented by |
actual cash. The company main |
tanned, however, that 1t had the right |
TO let other assets represent the de |
probation as it is on the companys |
ships
Seeing that the meeting was in a |
tangle, Forbes asked: IF the amount |
wiped off the depreciation fund was |
not credited TO surplus, where did |
1t go?"
Field answered: THAT is the whole /
nnocfio,n ord x.o,, Mill cid AZ.
in the deleted pages of this report.
IL was evident that Field did not think
highly of the executive" session or
The rest of Fields report showed
that the lnter-Island had issued capi
tai stock amounting to $4,000 on
account of the Wilder Steamship Com.
pany purchase and at the same time
declared a stock dividend of $4,000
bringing its capitalization up to
~ 100000. Field also set the valua.
ton of the company's property and
equipment at 81, 1851 16, to which ne
added $1S2, 034.09 for fixtures.
Taking up the company's deprecia
ton fund, Field pointed out that on
December 81, 1912, this account was
started with 100000 and to this addi.
tions were made covering the three
previous years and also up to Deem
Der 81, 1915. when, according to his
report. the balance of $432 ,02070 WIS
closed out.
Seen by representative of the
Star Bulletin this morning. Forbes
made the following statement.
"A recess of about 10 minutes was
AIKEN with the counsels of the Inter
sland and the counsel for the com
claimants present. At this recess a
,eouest was made by the mter-Islandl
Company that the Public Utility Com
mission not make public such data as
We had relative To their non-utility
business. The chairman replied that !
he commission would consider when
the testimony and going
,yer the auditors report, the proper
course to pursue.
The hearings of the Public Utili-
les Commission have been public No
me has been excluded and all public
documents subject to review"
Forbes also said that this particu-
ar recess was not a star chamber
ession' but open to all THE attor-
ley far THE Inter-Island stated that
ertatH, parts OF Fields report were
on-utffity. | did not question his
tatenlent at the TIME because to do
o would have been snap Judgment,
mt before the next hearing on the I
nter-t1and rates is held | shall de {