Honolulu star-bulletin. [volume] (Honolulu [Oahu, Hawaii]) 1912-2010, 1916-05-06
RAPID TRANSIT FRANCHISE Plan
MATERIALLY CHANGED BY HEARING.

plicit by substitute amendment sub
mitted last night. which had been
drawn up by Supervisor Hatch. =
The new amendments submitted
were taken under advisement by the
utilities commission and after con-
ference with its attorney the commits
sion intends to authorize the printing
OF the complete proposed amendments
and the present charter for distribu-
ton and TO advertise the amendments
in the local papers. After that they
will probably be passed on by the
commission and then by the governor.
The exact procedure in the future has
not been determined by the comm&j-
sion ..-.- ..~..
Text Of Amendments.
Following are the amendments sub
mitted last night, which will be substi-
tuted for those heretofore published:
Stock and Bond Issues. -.
Section s. Section 81 of said act
is hereby amended to read as follows:
Section 81. Issuance of Stocks ant
Bonds-Said Company may increase
its capital stock to one million seven
hundred thousand dollars Isl, roo 00).
and may issue to its stockholders or
their representatives or assigns. suf-
ficient additional paid-up stock to
make the entire capital stock issued
by said company of the par value of
one million seven hundred thousand
dollars Isl 100000. The entire pro-
ceeds of all stocks and bonds. except
refunGing bonds, hereafter issued by
said company, shall be applied to cap
ital expenditure, and no further issue
of stock shall be made excepting upon
payment for. the same in cash at not
less than par. The said corporation
is further authorized to issue stock be-
yond the limit provided In it's charter
upon the approval of said Public Utili-
ties Commission, upon payment for
the same in cash at not less than par"
Compelling Extensions. T.. . i H.. i
Section 10. There shall be added a
new section, to be known as Section
80, to read as follows: =.
Section 80 Power is hereby grant
ed to the Public Utilities Commission
to compel said corporation and its
successors to make extensions of its
service lines within the District Of
Honolulu, and to maintain and operate
the same, whenever, upon a petition
of at least ten residents of the dis
trict in which such extension is pro-
posed to be built, it shall be made to
appear to said Commission, upon a
public hearing, at which said corpora
ton shall have had an opportunity to
be heard, that the reasonable convent
ence orA necessity of the public re-
quires such extension. The determine
ton of the issue involved shall be
vested in the sound discretion of said
Commission, in the exercise of which
due consideration shall be given to
the general condition of the business
of the said corporation, the length of
time which probably would elapse
after construction before business up
on such extension might develop to
paying basis, and generally the reason
ableness of the bprden proposed to be
placed upon sad corporation, and
whether the building of said proposed
extension would initiate against the
payment of the dividends provided for
in this act bs p -
Appeal to Court. r..
Section IL. There shall be added a
new section, to be known as Section
40, to read as follows:
Section 40. From every order made
by the Commission under any of the
provisions of this act an appeal shall
lie to the Supreme Court of Hawaii,
in like manner and with like effect as
an appeal lies from an order or de-
eision of circuit Judge at chambers.