The Hawaiian gazette. [volume] (Honolulu [Oahu, Hawaii]) 1865-1918, 1917-12-28
COtBURN ANSWERS.
MASTERS REPORT
Trustee For the kaWananakos
Heirs. Gives Details Z.
About Estate !.

John F. Colbnrn, whose trusteeship
for the Kawananakoa minors was re-.
Gently attacked in an amended report
filed by Master Charles s. Davis, yes
terday fled a long reply taking ex-
ceptions to charges made against him.
The masters amended report carried
a recommendation that he be compelled
TO account for an apparent Discrepancy
Of approximately $4,000 in the records
Of the estate. s.1 .,a,-E I, 'ytn.t
In the reply filed yesterday Colhurn
says that acting under the provis ions
of the will with a feeling Of loyalty
TO his Ali and trusting friend, Prince
David Kawananakoa he used greater
skill and care in the management OF
the estate than could haye been posi-
bly, expected from a stranger and that
the value of the estate of the children
has been increased from practically
nothing to a considerable amount. He
declares that as result of his, efforts
he has been able to secure out of the
assets Of the estate the sum of nearly
500, 900 for the heirs from an estate
that was insOlvent at the time he com
menced to handle il.
Assets Stated
At the time of the death Of Prince
David he states the assets were: jew
elry, $3400: one stallion, $500; 500
shares Kapiolani Estate Ltd. Of par
value Of $l00t equities in realty,
$3250; $50 shares Florence Oil Company
stock valueless: one share Bcretania
Tennis Court club, valueless.@ 30
He, states, that at the time of Prince
Dayid's death, the prince owed various
persons about $4,000. He asserts that
the appraiscment of the 1900 shares of
the capital stock OF the Rapiolam Es-
tate Ltd, at $40 share "did not truly
represent the value of said shares at
the time. .".t .'a,i -
He expresses the helief that the
shares in question were not worth s.
share and he says that "shortly after
the appraisement 1900 other shares
were offered for sale for the price OF
IS share nnsuccessfully, for the rea.
son that the KapiOlani estate at thai
time was indebted for an aggregate
sum considerably over $780, 900 and
that at that time the assets Of the
estate did exceed the Indebtedness, and
that the value of the capital stock was
yalueless. 'ti rti.t,r. Es7 st1.*.'gE r.
He asserts that efforts were then FIRE.
quently being made TO have the estate
placed In the hands of receiver. !,
Other Charges .sNt A--n"
Following this period he sets forth
that he was able to sell the stock for
$50 q share. .,, '.-. ... ..r...s .. star'
Another charge made in the masters
amended report is that Colburn neglect
ed to account for q Feather leis, kahilis,
ahuulas, decorations and orders of dis.
tinction" bequeathed in the win to
Prince David's SON ..,., IT,. -.
Colburn states no account is made of
this property for the reason that at
the time of the death Of Prince David
he did not own any feather leis, ka-
hills, ahuulas, decorations VI orders Of
distinction. He asserts that upon his
marriage Prince David gave his wife
all of his household furniture, works
OF art, valuable orders Of distinction
and four kahilis to the aggregate value
of about $4,000. .,.. ..'...'.' =
The report at length replies to all
the charges set forth in the master 5
amended report.