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ry '..vtw, - j ,vpY f . Hsy w;T i . ' f 'irJ MMMMMMMMMMHMHaMHN WT MHH&Hgt "( 'f'WWHWir vwBMBinHHMMBMBMMMHBMMMMBBHPlM$ '""7r -l1- lUrppi f iH ,..- ju- J-i, ., -r--- 14 ' kf . : A li'f ' BANKING NOTICE. 'PUK I NOKlMUKliD have ( rtncd L i unvwtueirtUp umlu iV lrm mum- o( ' 8VUKrKKi. vV t." for tto purpoMt of cuvrylng on iv ytcnornl ivvuk IuimuuA ocluvvvvji lawlne at Honolulu, unit such other place lu the Hawaiian Ivlutiiloiu us muv be (U'l'iowl udiulh" vSlgupvh " t'l.AVS SPUKl'liKU Wm U IUWIS. l IA LOW. Honolulu, huv. I Uli, ISSl, Uofovvlug lo Uvo above wo bog to In (ornv llui business nubile that wo uvo pveniuotl lo uuvUo huvvs discount uppvov ol nolo, ami puvoUtv-u" exchange at Uvo bwl current itvU'v Our ununvjovuonb for otllu: evHnvuuo ou Uvo piluclpn) poluW lu the I'ullvd Slates, Kuxopc, Ohluu, Japan uutl Australia two Mug iniulo, nvul wHon pcrtocU'd, due nolU'o will lio given. Wo shall also bo pvcvoil lo receive dopo-dts on open UCCOUUt, make collodions mul conduct a xoaeuvl liAuklutt iviul oxohunuc liu-duos. ttlOllmli i-dmied) M'UKl'Ktiliti&l'o. manor & co hank Hits, (Honolulu, Hawaiian Hand. Draw Uxohunm1 on Uvo Hiinli orc'ulUUi'ulu, S. 1 And their ugouls In NEW YOHK, UOSTON, HONG K0NQ.2 Mews. N. M.Uotlvsohlhl&Nou, London. Thu (Jouuuorobd Hunk To., of Hvduoy, London, THu Commercial llivnk Co., of Sydney, Sydney. Tim Ituuk of Now Zealand i Auckland, Olnimohutoh, and Wellington. The Hunk of Nrlihh Uoluvublu, Vic tiuin, H. P. and I'm Hand, Or. AMI Tnui-uul n.Uonornl UunMiw UuMuotw. (Kill ly li tiii: iAiiiV mnj-r;ri can be hml from J. M O.i I, Jr.. iV To Motohiiut hi. T. (I. Thrum Mtuoluuil s. HVMIY AKrnilNOON, (hDniUig,n),v;ti)u o I'luJftod to noltlior Brnt nor lMrty, llui vtUlillihoil fur thn onoflt of nil, WKDNKSDAV, ,ITLV III, 1BH-I. THIS EVEHINQ'S DOINGS. Onhll l-mlKn, No, I K, of !'. ";!)(). Ilulhol I'ruyoi' IMuolIng, nl 7:11(1. Kurt Sli (!uuoli, I'ruyor Meeting it 7 sllfl. St. Aiiilrow'H CutlH'dnil, iihiimI Hdl'Vk'C'N, 7 fill), TO-MWinOW'S DOINGS, MOnMlfHl. Luglbliituro, 10. THE OHAMBEn OF COMMERCE AND THE BANK DILL. Thi! (Jlintnlxsr of Coiniiiurco met lliln iiiornlng to (1Ih(iiih5 (Iks liuiik Hill. Mr. SproukelH iiniiomieoil Unit hu would not, prcH.s tlui prumml bill, hut would ncue.pl uny bill wliiuli Urn (Jlifiinbor migliL racominoinl, A com- IlllttOl! L'OIIHlHllllg ()f DdVk'H, lOII- l)(M'g, Hlnhop mid ttprculuiln wiih nppolnltiil lo dnift n NtitlHfiuilory bill In pliico of tin; prt'Hont one. THE NATIONAL BEGGAn8' ACT. Not having room for exlunded eomiiKiiit, wujvlll merely eall iitten llon to the most prominent polntH which we dlmipprovo of. The latter part of jji) gives the right to hold real estate for 10 yearn, and " h'hul nf iipi'homiI won- vrtii-'' Under thin, any biiHlneHHcan be engaged In. i' oi'uate a iiiono)oly for owuei'H of $600,000 and upwardH, H'i requlrcH onli'M per cunt, of thu iMipital lo be paid in, and by ill!) 8800,000 worth of doIch can be ksued on UiIh capital. KM and 1 10 place dlHcrelionary with the MlnlHler of KinanH) loex change hociiHIIch for) IIioho of Ichh vaiiiu, and giveH him power to Ihhiic now IidikIh, without limit iih to amount, rale, time of payment or ulyle of colnlpayiible. K IK OIvcm power to hold fJovuni ment inoiicyH without any dulinitu woiirlty, Hit! security called for being 'MioimIm or otmnnfHc" 520 JfcqiilruH that iioIuh hliall (;x preM the promlNu of the corporation "lo pay on demand," but doc not Miy what mIiiiII be ald, gold or tillvcr. ilh allows tholnuih to run h) dayH after paymiiiit of IIh dcbtn haw been , refiiHcd, and if payment 1m made on tlio o'Oth day, the hank cotitluuuH and creditor liavo no nihwH, W ItlakwH months to realise on the asHctw In nme of failure and jlhhonorcil note ahull bo re achwd hi jmyvieiUJ'or bond, Hie Nalioiiiil limiltiiig Act Heulloii . (JlmrtorH Incorpo ration tor tarrying oi llio bunlncM Of Imnlduff y bo granted by Act of Ihc liPftlHlutnro Mtibjccl to thn pvovislous of this Acl lo uuy sso vhvllon of icvsous nol loss llvnn Uvo In number. SeelUm 2. Snid CUartrr lmll Ucsigmto 'I'lvo nsvtno of Iho ('oivov;vUou, Tlvo pvU'ipal phvoo ol Us uusluosw, TUo ivvnounl of Us VpUl stool;, Tho muultor of shares Into wlvloh tlu onpUivl stook is dlvhlod, Tlvo utvnvos nnvl placos of rosl donoo of tho hvcorponvlors tvnd tlvo number of shuros hold by ouolt of tlvom. Tho lonu of yours during wlvioh Uvo ooriortUou sluvll uxial, Tho usimos and phvoos of rosl vlouoo of Uvo dlroolors who are ap pointed for tho 11 rat year. Sootlou Jl. Suoh oorporallon shall In addition lo live powers eon f erred upon bodies eorporule by the pro visions, of Chapter XXXI of Uvo Civil Code of Ibis Kingdom have Uvo following additional powers subject to Uvo provisions of this Aot, It may exorcise subject lo law such inciden tal powers us shall be necessary to curry on the business of hanking by discounting and negotiating pro missory notes, drafts, hills of ex change, ami other evidences of debt ; by receiving deposits j by buying ami selling exchange, coin and bull ion i by loaning money and by ob taining issuing and circulating notes according to the provisions of this Act. It mav purchase, hold and convoy real estate such as shall lie ueeessary for Its Immediate ac commodation in the transaction of its business ; hucIi as shall ho mort gaged to it in good faith by way of Motility ; such as shall hu conveyed to It In satisfaction of debts pre viously coutrneted ; such as it shall purchase at sales under Judgments, ducrecs or mortgages held by the association or shall purchase to secure debts due it. Hut no such corporation shall hold thu possession of any real estate under mortgage or the title and possession of any real estate purchased to secure any debts due lo It for a longer period then leu years. It may purchase, hold and convoy in I lie regular course of its banking business every kind of personal property, chattels, wares, merchandise, franchises, pa tents, easements and Incorporeal rights and lu every way dual with the same in such mauiiur as thu interest of the corporation may require. .Section '1. No charter shall be granted under this Act to any com pany whose capital stock is less than live hundred thousand dollars. Section ft. No change shall be made in the Articles of incorporation by which tho rights remedies or security of the existing creditors of the corporation shall be Impaired. Suction (!, At luast thirty pur centum of thu capital stock of wary such corporation shall hu paid In be fore It Mhall be authorized to com mence business, and if through any cause such paid in stock shall be diminished the corporation shall with in thirty days Increase thu same to the amount required in this section and in default thereof shall be closed and its business wound up by a receiver by process of law. Section 7, Whenever any share holder or his assignee shall fail to pay any installment of the capital slouk required to lie paid in by thu directors, the directors may sell thu stock of such delinquent shareholder at public sale after notice of such sale lias been given by publication thereof in a nuwspaper published in the city of Honolulu and the excess If any received upon such sale after deducting the amount duo lliereoti and the expense of such sale shall be paid lo such delinquent shareholders, provided that if no bidder can be found who will pay for such stock the amount due thereon lo the cor poration, thu amount therefore paid In ou such stock shall be forfeited to the corporation and such stock shall hu sold as the directors may order within six mouths from the time of such forfeiture and if not sold it shall he cancelled. Section 8. It shall be lawful for any corporation formed under this Act to provide i'n its articles of In corporation for Increasing the capital from time to time by, consent of two thirds of its shareholders, but no ttiiclt Increase shall be valid until the Increased capital shall be paid in and until notice thereof shall have been given to the Minister of thu Interior and n certificate has been issued by Wm specifying tho amount of such incrouso of capital stock and that he is sallsllod that Uvo same has been duly paid in ; ami such eci ll Heato shall bo advertised in tlvo llko manner and for Uvo like Unve uh Uvo original oortUleato authorising live oorporatlon to commence busluo, aval such corporation may in like manner by consent of two-third of Its shareholders reduce Us capital stock to any sum not below thu amount required by this Act to uuthorko the formation of suoh cor poration nor below tho amount re quired foV the payment of Us out standing circulation nor shall such reduction bo mudo until thu amount of the proposed reduction has been reported to the Minister of tho In terior and his approval thereto ob tained. Section l. Kvory corporation formed under live provisions of this Act shall transfer and deliver to the Minister of Kiuanee such coupon bonds or registered bonds of tho Kingdom of Uvo Hawaiian Islands as may be Issued under thu laws there of to an amount not exceeding the amount of capital stock paid up, to bo hold by said Minister of Kinam'o in trust to secure tho payment and redemption of the circulating notes to be Issued as in hereafter provided. Section 10. Such deposit of bodds shall ho Increased as the capital slock may bo from time to time paid up or increased, so that said corpora tion shall at all times have ou doposlt with tho Minister of Kiuanee Hawaiian bonds to an amount equal to such paid up capital stock, pro vided such corporation applies for a proportionate issue of additional cir culating notes. Section II. Such bonds shall have written or printed on each a memorandum signed by the president or cashier or some other olllce of the corporation, stating the purpose for which such bonds are deposited. Upon the receipt of bonds as herein ftpcclllcd the Minister of Kiuanee shall issue a r e u e i pt stating therefore that the bonds arc held in trust for the corporation and as a security for the redemption and payment of any circulating notes that have been or may be delivered to such corporation, Section '2. It shall be the duly of such corporation, once or oftener in each fiscal year, lo examine and compare the bonds so pledged, with thu books of the Minister of Finance, and if found correct to execute lo the said Minister of Kiuanee a certillcatc setting forth the different kinds and amounts thereof, and that thu same are in the possession and custody of the Minister of Finance at tho date of such certillcatc. Such examina tions, lo be made by tiie president, vice-president or cashier, or by some person duly appointed by the cor poration for the purposu. Section Hi. The bonds so trans ferred to and deposited with the Minister of Finance by the said corporation for the security of its circulating notes shall be held ex clusively for that purpose until .such notes are redeemed, or they arc exchanged or surrendered as pro vided in this Act; but the Minister of Finance shall give to said corpora lion a certificate that the Treasury is liable for and will pay semi-annually the interest on said bonds as it becomes due, which said corporation Is authorized and empowered to receive and appropriate to its own use ; but such shall become inopera tive whenever said corporation shall fall to redeem its circulating notes as in this Act provided. Suction M. The Minister of Fi nance may permit an exchange of any of the bonds so deposited for oilier bonds of the Hawaiian Gov ernment, If he shall be of the opin ion that such exchange can be made without prejudice to the Govern ment or the holders of the circula ting notes, and hu may return any of such bonds to the bank corpora tion In sums of not less than one thousand dollars, upon the surrender of a like amount of circulating notes. Suction if). It shall bo unlawful for any olllcers acting under the provisions of this Act, to transfer or deliver any of thu bonds de posited to secure circulating notes, except as provided In this Act, nor shall they countersign or Issue to any othor corporation, firm or pur won, any of the circulating notes authorized to be Issued to such cor poration, And any otllcer who shall violate tho provisions of this section shall bo doomed guilty of felony, ami on conviction thoreof shall be punish ed by a line not exceeding double tho amount of live bonds or circulating ivotos so misappropriated and by Imprisonment not less than three i nor exceeding ton years at tlvo dis cretion of live Court bv which he or they may bo tried, Section IB. When a withdrawal or transfer of bonds shall bo deemed expedient, It shall be lawful for tho Minister of Finance to issuo other bonds In lieu of those deposited, on which aro written or printed tho cer tificates of the proper otllcers of tho bank denoting thu purpose for which the bonds were deposited, and it shall bo the duty of the Minister of Finance to cancel the bonds so given up lit exchange for tho bonds so Issued. Section 17. Tho Miuistor of live interior shall examine into thu con dition of tho corporation formed un der this Act and ascertain tho amount of money paid in on aeoount of its capital, the name and place of residence of each director and the amount of capital stock which each director owns in good faith and gum rally whether .suoh corporation has complied with I ho provisions of this Act to entitle it lo engage in the busines of banking, and if it satis, faotorily appear to said Minister of the Interior Unit such corporation is lawfully entitled to commence tho business of banking he shall deliver to such corporation a certificate stat ing that said corporation has com plied with the provisions required to lie complied with before commencing the business of bunking, and that such corporation is authorized to commence such business; and such certificate shall he published in a newspaper published in the City of Honolulu for at. least sixty days after the issuing thereof. Section IH. The King in Privy Council, by an order directed to the Minister of Finunoo, may desig nate such corporation as a depository of public moneys except receipts from customs under such regulations as may be prescribed ; and it may bo employed as the llnaudial agent of the Government; and It shall perform all such reasonable duties as depositary of public moneys and financial agent of the Government as may be required of it. And tho Minister of Finance shall require of such corporation satisfactory security by the deposit of bonds or otherwise for thu safe keeping and prompt payment of the public money and for the faithful performance of its duty as financial agent of tiie Gov ernment as the King in Privy Coun cil by mi order may direct. Section It). Upon the transfer and delivery of bonds to the Minister of Finance as provided in the fore going sections, the said corporation shall be entitled to receive from the Minister of Finance circulating notes of different denominations equal in amount lo eighty per centum of the par value of the hpnds so delivered and transferred, but in no case shall thu amount of circulating notes delivered to and received under tills section by any corporation exceed the sum of eight hundred thousand dollars. Section 20. The Minister of Fi nance shall cause plates and dies to l)c engraved in tint best manner, to guard against counterfeiting and fraudulent alterations, and to have printed therefrom and numbered such quantity of circulating notes in blank as may be necessary, in deno minations of ten dollars, twenty dollars, fifty dollars, one hundred dollars, and five hundred dollars, which notes shall express upon their face that they arc secured by Hawaii an Government Uonds deposited with tin; Minister of Finance by the written signatures of the Minister of Finance and Registrar of Accounts, and by the imprint of the seal of the Treasury; and shall also express upon their face thu promise of the corporation to pay on demand, attes ted by the signatures of the president or vice-president and cashier. Section 21. After the corporation shall have caused promise to pay such notes on demand to be signed by the president or vice-president and cashier thereof lu such manner as to make them obligatory promis sory notes payable on demand at Its place of business, the suid corpora tion Is hereby authorised to Issue and circulate thu same as money ; and tho stvtno shall bo received at par in all parts of the Kingdom In payment of luxes, excise, licenses, puhliu laud and all other dues lo tho Government 5 and also for all dobta and demands owing by tho Hawaiian Government to individuals, corporations and associations within tho Kingdom except for intorcnt and principal of tho public debt. Section "J2. It shall bo tho duty of tlvo Minister of Finance to receive worn out or undiluted circulating notes issued by said corporation, and to deliver in place thoreof to said corporation now circulating notes to an equal amount, and such worn out or mutilated notes, after a memorandum shall have been en tered on the proper books of tho Miuistor of Finance, as well as all circulating notes that shall have been paid or surrendered to be cancelled, shall bo burned lo ashes in thu pre sence of three persons, one to be designated by the Minister of Fi nance, one by the Minister of tho In terior, and one by tho corporation. And a certificate of such burning, signed by the, parlies so appointed, shall bo made in the books of the Treasury, and a duplicate thoreof delivered to the corporation. Section 211. TJ10 plates and dies to ho procured by tho Mlnistur of Finance for the printing of circula ting notes shall remain under his control and direction, and the ex penses necessarily incurred for the manufacture of the plates ami dies and the printing of tlvo notes and nil other expenses incidental thereto, shall bo paid by the corporation re ceiving such circulating notes. Suction 2i. Ii shall not be law ful to design, engrave; print, or in any manner make, exocuto, or lo utter, issue, distribute, circulate or usu, any business or professional, card, notice, placard, circular, hand bill, or advertisement, in the likeness or similitude of any circulating note or other obligation or security of any cornoration organized or nctintr under the laws of this Kingdom which lias been or may be issued under this Act or any act of the Legislature of the Hawaiian Islands, or to write, print, or otherwise im press upon any such note, obliga tion, or security any business or professional card, notice or adver tisement, or any notice or advertise ment of any matter or thing what ever. Every person who violates this section shall be liable to a penalty of one hundred dollars, recoverable one-half lo the use of the informer. Section 2b. If the corporation shall fail to redeem in lawful money, any of its circulating notes upon demand did' made at its place of business during the usual business hours, the Jidldcr may cause the same to be protested, in one pack ago, by a Notary Public unless the president, vice-president or cashier in writing, waives demand and notice of protest. The Notary making such protest or the parly making the demand and receiving such written admission, waiving de mand and notice of protest, ma' forward such protest or admission to the Minister of Finance. Upon the receipt of such protest or ad mission the Minister of Finance shall forthwith enquire into the matter, and if satisfied of such failure to redeem its circulating notes, he shall formally give notice to the corporation that after that date it shall not be lawful for it to issue any of its circulating notes. If the aid corporation shall, within sixty days ( from the date of receiv ing such notice from the Minister of Finance make provision for and redeem all of its circulating notes (hat may have been demanded, and tho Minister' of Finance shall be satisfied that such is the case, he shall withdraw the notice given to if, and the business shall continue the same as if no default had been made. Provided that if satisfactory proof shall be presented to the Minister of Finance that Hie pay ment of any such notes is restrained by any court of competent juris diction, tho corporation shall be exonerated from the charge of de fault In payment. Section 2(1. At tho expiration of of sixty days after giving" notice of non-payment of notes, as is provided in the preceding section, the Min- istor of Finaneo sluvll cause an examination to be made,, and if satisfied that the bank still refuse or neglect to redeem Us circulating notes nftur legal demand has been made, anil in in default, he shall, within thirty days thoraftor, declare the bonds, deposited and pledged by the said corporation, forfollcd to the Government, and the same shall thereupon bo forfeited. And there upon the Minister of Finaneo may dispose of so many of such bonds as may bo necossary to redeem tho circulating notes outstanding, either at public or private sale, " after giving thirty (lays' notice, by publication in two newspapers pub lished in Honolulu, In Hawaiian and English. And, he sluvll receive in payment of such bonds when sold, the oirunluling uotus of tho corpora tion at par, or othor lawful money of the Kingdom, and out of the surplus money arising from suoh sale or sales he shall redeem thu circulating notes still outstanding. Provided, that if tho corporation shall deny that It lias refused to re deem its circulating notes when demanded, it may at any time apply to any court of competent jurisdiction to enjoin further proceedings in the premises; and such court, after citing the Minister of Finance to show cause why further proceedings shall not bo enjoined, and after the decision of suoh court, or tho finding of a jury, that tho corporation lias not neglected or refused to redeem its circulating notes when legally presented, in the lawful money of the Kingdom, shall make an order enjoining the Minister of Finance or any olllcer acting under his direc tions, from all further proceedings ou account of such alleged refusal. Section 27. Nothing contained in this Act shall prevent a creditor having a claim or demand against. such corporation in good faith from resorting to the courts of the King dom to enforce his claim. Section 28.- Every such cor poration shall exist subject to the laws now in force in this Kingdom which do not contlict with the pro visions of this Act and subject to such laws as may hereafter be enac ted corcerning the incorporation and regulation of banking corporations. Section 29. In lieu of all taxes, imposts ami licenses now or hereafter to be levied, any corporation formed under this Act shall pa' or cause to be paid into tho Hawaiian Treasury annually a tax of one per centum on the average amount of circulating notes delivered to said corporation and outstanding according to the records of the Treasury Department. Provided that nothing in this Act shall exempt the real estate or per sonal property, except tiie paid up capital, belonging to the corporation from being taxed to the same extent as all other real estate or personal property in the Kingdom. Section 30. The lawful money mentioned in this Act shall be the gold and silver coins of the Hawaiian Kingdom and the gold and silver coins of the United States of America at their current value as established by the laws of this Kingdom. Section 31. Each stockholder of 11 corporation formed under this Act is individually and personally liable for such portions of its debts and liabilities as tiie amount of stock or shares owned by him bears to the whole of the subscribed capital stock or shares of (he corporation, and for a like proportion only of each debt or claim against the corporation. Any creditor of the corporation may institute joint or several actions against any of its stockholders for tho proportion of his claim payable by each, and in such action the Court shall ascertain the proportion of the claim or debt for which each defen dant is liable and a several judgment shall be rendered against cacli in conformity with such liability. It any stockholder pays his proportion of any debt duo from the corpora tion, incurred while he was such stockholder he is relieved from any further personal liability for such debt, and if an action lias been brought against him upon such debt it shall be dismissed as to him, The liability of each stockholder is deter mined by the amount of stock or shares owned by him at the time the debt or liability was incurred and such liability Is not released by any subsequent transfer of the stock. The term stockholder as used in this