The Hawaiian gazette. [volume] (Honolulu [Oahu, Hawaii]) 1865-1918, 1916-09-01
After Struggle of Nearly Two
Years First Frontage Tax Pro-
jet viii Be Launched
BONDS FOR BIG WORK af
IA :. TAKEN READILY HERE
Bankers Syndicate and Others,
Buy and Work win Begin In Z
r. side Of Fifteen Days 49,

After a struggle of nearly two years
duration the Manoa district improve
ments are assured and r., R. Richie,
the contractor, Win be instructed today
to begin actual work on them within
the next fifteen days All legal inter
ference has been dissipated the bonds
providing funds for the Job have been
sold and will be delivered 10 the pur-
.chasers just as dion as. the mayor, city
clerk and city treasurer can sign the
necessary paperssanJ the treasurer can
make the transfer. q g. t.. ~
Incidentally, the city got slightly
better than par for some of these
bonds. Treasurer ConkliTg, who open
ed the bids at noon yesterday, report.
ed to the board last evening that for
the $4,000 worth of paper the city Is
issuing, il will receive $l46,125, =
Banks Are Satisfied $50, .''.' >,
Also Incidentally, II appears that the
banks which caused the recent test suit
to be instituted against the city treas.
urer, TO determine the validity Of the
, frontage tax law, are, well satisfied
with the supreme courts decision,
They are taking $4,000 of the issue
entire lot. These institutions are the
Bank of Hawaii, Bishop & Co.,, and the
First National Bank.
The other two buyers are the Trent
Trust Company, which takes $40, 900 ,yof
them, paying a premium of one fourth
of one per cent, or total of $l0,025,
and, the Territorial Insurance Fund,
which takes 100000, at premium Of
'one.half per cent, paying a total Of
$50, 100. The supervisors last night
confirmed the sales as here scheduled.
Bank Bids Protested
The Trent Trust Company, through
Fred Milverton, its attorney, entered a
protest with the city attorney yester.
day afternoon against the legality Of
the bid submitted by the three banks,
but later said they did not seek to
compel any delay OF entail expense to
the city and would therefore abide by
the decision of the supervisors.
The bid of the three banks was &C.
companied by check evidently intend,
ed to cover ten per cent of the
amount Offered, but through oversight
one figure had been omitted, so that the
check was for only one instead of ten
per cent. When the error was brought
to the banking syndicate 5 attention il
was quickly remedied, thus indicating,
MS Supervisor Arnold suggested, the
bidders good intention.
Board Accepts Corrected Check
1t was not necessarily Illegal anyhow,
the same member explained. In the
call for tenders on the issue clause
read that the city reserved the right to
reject any or all bids and to accept
any one it chose. The board waived
the bidders error and accepted the cor.
rected certified check
sThis is the first Improvement to be
attempted In Honolulu under the front
Fge tax plan, aud being the pioneer it
Has encountered many obstacles bring,
ing delay and almost endless discussion.
"Tbere will be several more i'm.
provement, projects along the same
lines in the near fdtars,' hope" said
c. N. Arnold, chairman of the road
committee, "but the process hereafter
should not prove quite so complicated
and sPeedior action probably can be
anticipated. 49, ~