X 
 
 o 
 
 z 
 
 o 
 
 c 
 
 U) 
 
 F 
 
 151 Z. 
 
BANCROFT 
 
 LIBRARY 
 < 
 
 THE LIBRARY 
 
 OF 
 
 THE UNIVERSITY 
 OF CALIFORNIA 
 
OF THE 
 
 HONDURAS 
 
 ^ a S 
 
 OK CAL.IKORNIA. 
 
 OFFICE: 23 KEARNY STREET, ROOM 10, SAN FRANCISCO, CAL 
 
 WM. K. MORRISON, M. EX, Secretary. 
 
 OFFICE HOURS, FROM II A. M. TO 3 P. M. 
 
PROSPKCTUS 
 
 OF THE 
 
 HONDURAS COLONIZATION 
 
 COMMERCIAL CO. 
 
 INCORPORATED DECEMBER 3, 1883. 
 Capital, $1,000,000. ,1OO,OOO Shares 
 
 at paz- Dalu-c- o| $10. 
 
 23 KEARNY STREET, SAN FRANCISCO. 
 
 \VNt. K. 1MORRISON, Nl. D., Secretary. 
 
 OFFICE HOURS, FROM II A. M. TO 3 P. M. 
 1883. 
 
HONDURAS 
 
 COLONIZATION COMMERCIAL COMPANY. 
 
 OF 
 
 CALIFORNIA, U. S. A. 
 
 OFFICERS: 
 
 FEEDEBICK GETCHELL, President. 
 
 FEANK A. WECK, Vice President. 
 
 WM. F. MOEEISON, Secretary. 
 
 FEEDEEICK HILLEE, JB., Treasurer. 
 
 OEMOND W. FOLLEN, - - General Manager in Honduras. 
 F. T. NEWBEBY, - Engineer and Land Agent in Honduras 
 
 DIEECTOES. 
 
 O. W. FOLLIN, WM. F. MOEEISON, FEED GETCHELL, 
 
 FEED. HILLEE, JE. F. T. NEWBEBY, FEANK A. WECK. 
 
 JOHN C. GOEE. 
 
UBRARY 
 
 PROSPECTUS 
 
 The Republic of Honduras is situated in Central America, is 
 bounded on the south by the State of Nicaragua, on the northwest 
 by the States of San Salvador and Guatemala. The chief port on 
 the Pacific is Fonseca Bay, one of the finest harbors of the world. 
 The Government is very liberal in its home and foreign policy, and 
 is extremely anxious to encourage the introduction of desirable 
 immigrants. To this end they have granted a concession to the 
 Honduras Colonization and Commercial Company covering 500,000 
 acres of land, having frontage on the Bay of Fonseca, the company 
 to be entirely unfettered and to have free choice in the location of 
 their grant. This is one of the most liberal grants of really first- 
 class land immediately accessible to the commerce of the world, 
 which has ever been made by any Government of modern times, no 
 expensive railroads being required to meet the wants of the agri- 
 culturists, and to absorb the fruit of his industry. 
 
 Besides having a large frontage on this beautiful, commodious and 
 safe harbor, there are rivers and estuaries providing, scores of miles 
 of inland navigation, and passing through rich alluvial lands more 
 or less covered with Mahogany, Cedar, Lignum-vitce , Santa Maria, 
 Sumwood, Sapodilla, Ironwood, Live Oak-, Pine, etc., etc. 
 
 The valleys are broad and fertile, having abundance of grass 
 which support large herds of cattle, which constitutes the chief 
 wealth of the people of the country. Cows and working oxen may 
 be purchased for $8 per head. Mules are also very numerous and 
 cheap. Pigs and fowls may be said to be self-supporting. 
 
 IMRAY'S "WEST COAST or NORTH AMERICA" SAYS: 
 
 "So abundant are the necessaries of life that none need want; 
 so profuse are the bounties of nature that they are suffered to decay 
 through neglect; the peach tree and the rose bush run wild on the 
 borders of the orange grove, whose fruits and flowers are alike sim- 
 ultaneous and perennial, and the pine apple, the mango and the 
 
4: THE HONDURAS COLONIZATION 
 
 melon are preferred to the almond, the olive and the grape. Such 
 is the nature of the soil and the exuberance of that wealth which 
 rots upon its surface, that it would amply clothe and satisfy with 
 bread thousands of the sons of toil who fill our streets, dispelling 
 that squalor and wretchedness which penury and destitution have 
 produced, and mitigating the woes which embitter the lot of so 
 many of our fellow countrymen. It may be that the time is not 
 far distant when many such will seek these fertile shores, and under 
 wise direction not only benefit themselves, but while redeeming fer- 
 tile valleys and plains from desolation, greatly bless the timid nat- 
 ives with the higher arts of life." 
 
 And now, in this garden spot of the world, these almost proph- 
 etic words are about to be accomplished, indeed. With two hundred 
 acres of such land as cannot be excelled in the whole of the United 
 States, and unlimited grazing rights over the unoccupied lands of 
 the company free of charge, what has a family to fear ? The com- 
 pany, like a wise foster parent purchases the produce of every kind, 
 prepares and fits it for market, exports the same in its own vessels, 
 bringing in return gold and stores of all kinds, and sharing the 
 profits with all in proportion to the interest each may have in the 
 company. And further, what need for exhaustive toil on the part 
 of the colonists when plenty of good labor is available at from 
 twenty-five to fifty cents per diem, and for house servants, four 
 dollars per month; and as regards cheapness of living, when the 
 products of all countries are admitted to the warehouses of the com- 
 pany free of duty for fifteen years, it can be safely said that one 
 dollar will have more purchasing power in this colony in Honduras 
 than two dollars in San Francisco. 
 
 CLIMATE. 
 
 The climate of the country varies with its varying elevations and 
 exposures to the trade and other prevailing winds. The land rises 
 from the coast by a series of terraces, ranging from one to six 
 thousand feet in altitude, with every grade of temperature, from 
 tropical heats to that of eternal spring, and with every variety of 
 production of which the globe is capable. One may ride for miles 
 on the high plains of the interior, among oaks and pines, with 
 myriads of bushes of the familiar blackberry of New England lining 
 
AND COMMERCIAL COMPANY. 5 
 
 his path, and through fields golden with wheat and orchards of the 
 apple and peach. In many places the palm and pine nourish side 
 by side. 
 
 The temperature in the hottest parts of the lowlands bordering 
 on the bay is nowhere as high as in the State of New York during 
 the summer months. It is rather equable than high, and there 
 are few places where a good thick blanket is not a requisite to com- 
 fort at night. 
 
 On the lowlands bordering on the bay the temperature ranges 
 from 70 to 106, and the heat in summer on the bay not being 
 nearly so oppressive as the heat in New York City, and far superior 
 to New Orleans. Residents on the uplands of the company will find 
 an agreeable temperature, ranging from 60 minimum to 84 maxi- 
 mum, the nights invariably cooler than the evenings. 
 
 At an elevation of 1200 feet above the sea, on the hills north of 
 the bay, are splendid forests of pitch pine, for which a good market 
 will be found at Panama, 600 miles distant. 
 
 SALUBRITY OF THE CLIMATE. 
 
 All testimony on the subject concurs as to the undeniable salu- 
 brity of the central portions of Honduras, and it is a known fact 
 that the north coast of Honduras, owing to the proximity of high 
 mountains and the ventilation which it receives from the trade 
 winds, is far more salubrious than any portion of the United States 
 bordering on the gulf; but is not to be compared to the climate on 
 the Pacific side, where the lands of the HONDURAS COLONIZATION AND 
 COMMERCIAL COMPANY are located. 
 
 There are no swamps or malaria, and, on the authority of an Eng- 
 lish gentleman nearly thirty years a resident near the Company's 
 grant, it is affirmed that there are no diseases or disorders peculiar 
 to the place. 
 
 Unlike many parts of the United States fevers of a severe type do 
 not exist. Yellow fever has never been known in the interior or 
 on the Pacific side. 
 
 Pulmonary complaints are unknown. This colony is destined in 
 the near future to become the great sanitarium for those suffering 
 from pulmonary complaints. This class of diseases in the United 
 States and England carries off fully one-third of their population, a 
 
G THE HONDURAS COLONIZATION 
 
 natural result in countries where the range of the thermometer in a 
 single day is often greater than in Honduras for the entire year. 
 " Central Honduras is blessed with a climate as mellow, delightful 
 and lovely as Italy's. The flora is magnificent and immensely 
 varied. The botanical riches surpass those of any other land on 
 earth." 
 
 SOIL. 
 
 The topography of Honduras is wonderfully diversified, and it 
 has every conceivable variety of soil, most of it is a deep, inexhaust- 
 ible, rich, black loam, capable of producing the finest crops. The 
 company's lands, which are well watered, are relatively open or 
 covered with oaks and pines, with many broad savannas, or prairies 
 covered with grass. 
 
 Irrigation is unnecessary, the average rainfall being forty-five 
 inches per annum, and droughts are unknown. It is rare to wit- 
 ness an entire day's rain during the rainy season, as it falls mostly 
 at night. The rainy season is from June to October. 
 
 MINES. 
 
 On the La Patarique Mountains have been discovered the rich- 
 est silver mines in Central America. These mines are worked in 
 the most primitive methods known; no hoisting or pumping ma- 
 chinery, no timbering, except what can be comfortably carried into 
 the mines on a man's back, and abandonment certain when the work- 
 ings caved badly, which sometimes happen. These mines, how- 
 ever, have produced all the way up to $2,000 to the ton of ore. 
 
 We can also tell of gold placers, good copper mines, iron mount- 
 ains producing ore from which bar-iron may be hammered at the 
 blacksmith forge. Nearly all of these mines are situated within 
 forty miles of the Bay of Fonseca. 
 
 Coal mines have also been reported, but of which nothing definite 
 can be said at the present time. If such mines exist, and are found 
 conveniently situated, of fair quality and extent, they will prove a 
 very valuable and immediate source of wealth; definite statements 
 are on record of their discovery, but the incentive to their develop- 
 ment has hitherto been wanting. 
 
AND COMMERCIAL COMPANY. 7 
 
 LANDS OF THE COMPANY. 
 
 The lands of the company are chiefly situated in the department 
 of Choluteca, the 'chief port on the bay being San Lorenzo, and com- 
 prise more agricultural lands fit to produce sugar-cane than there 
 is in all the kingdom of Hawaii. 
 
 The land will further be a free gift to the colonists, thereby en- 
 abling him to use his resources to an extent equal to three or four 
 times the same amount expended in the most favored portions of 
 the United States. No monopolist, with his poorly tilled lands, 
 with small ness of taxes corresponding to the largeness of his hold- 
 ing, will there be able to crowd the settler to the wall, and the grim 
 vision of a mortgage on the farm need never be known. 
 
 The interests of the Company and the interests of the colonists 
 will be identical and strictly mutual; neither can prosper without 
 the other. 
 
 PRODUCTIONS. 
 
 The agricultural productions comprise cotton, sugar, coffee, rice, 
 tobacco, indigo, cocoa, vanilla, arrowroot, maize, wheat, potatoes, 
 bananas, pine-apples, star-apples, custard -apples, oranges, lemons 
 of various kinds, limes, shaddock, melons, grapes, mango, guava, 
 fig, and including European fruits comprise more than forty genera. 
 It is stated on good authority that under the Spanish regime grapes 
 were extensively cultivated for the wine product, but eventually 
 the mother country became jealous on account of the quantity and 
 quality of the wine produced, *and an order was given by the home 
 Governmant to destroy every grape vine in the country, which 
 edict was faithfully carried out; since that time to the present a 
 few grapes only have been grown for pleasure. 
 
 BANANAS are an easy and profitable crop, being more easily culti- 
 vated than maize, and producing the first season 300 bunches per 
 acre, and subsequently 500 bunches per acre per annum; the price 
 realized in San Francisco is $1.50 to $3.00 per bunch. 
 
 SUGAR CANE. This is the natural home of sugarcane, which yields 
 two or three crops per annum, and only requires planting once in 
 ten years. We have testimony in this city that the sugar produced 
 polarizes higher than any sugar in the world; the fibrous refuse from 
 the mills, which is so troublesome to handle and destroy in Louisi- 
 ana, can, immediately it comes from the rollers, be utilized as fuel. 
 
8 THE HONDURAS COLONIZATION 
 
 From a comparison of a large number of authorities on sugar culti- 
 vation, we gather that a fair crop should yield to each acre two 'tons 
 of marketable sugar and 170 gallons of rum 20 overproof. No 
 reasonable estimate can be made of the yield on the Company's lands, 
 as the agricultural processes are as rude as the mining; the bosom 
 of mother earth is simply agitated with a sharp stick. 
 
 Two crops of corn are also gathered each year, and which forms 
 the staple diet of the people of the country. 
 
 Much of the tobacco raised in Honduras is of superior quality 
 and is exported to Havana, whence it is sent forth to the world as 
 Havana tobacco. The business of the company will be to secure for 
 Honduras tobacco as such a due recognition of its merits in the mar- 
 kets of the world. 
 
 COCOA is one of the richest of all the plants requiring the least 
 cultivation, and bringing large returns. 
 
 COFFEE, one of the principle staples, at the lowest estimate, yields 
 $100 per acre; but very much depends upon the quality cultivated 
 and the careful preparation for market. A coffee plantation of 600 
 acres in a sister Republic was sold, a short time ago, for $180,000. 
 Such an estate would be more valuable in the colony in Honduras, 
 because of a better harbor, and fifteen years freedom from taxes for 
 those settling on the lands of the company. Lands suitable 
 for coffee, sold, in the adjoining Republic, a ( few years ago 
 for $50 the caballeria;* to-day such lands are worth $1,000, and 
 are scarce. As this plant reaches its highest perfection in Hon- 
 duras, it is readily seen how fine a property could be acquired in a 
 few years. 
 
 Coffee and cocoa, though only produced in a small way up to the 
 present time, have achieved the highest reputation. The cultiva- 
 tion of indigo in the sister republics is exceedingly profitable, and 
 has become a favorite industry, as also the gathering of cochineal. 
 
 INDIGO, one of the most important dye stuffs, and for which 
 there is an unlimited demand, is prepared from a small plant some- 
 thing resembling alfafa, and is cut three times in the year; it is in- 
 digenous to Honduras. Its preparation is very simple. Its value 
 is about $1 per pound, and the yield about 300 pounds per acre. 
 
 * A caballeria is about 100 acres. 
 
AND COMMERCIAL COMPANY. 
 
 With careful cultivation and improved methods of extraction, both 
 quality and quantity could be much improved. Europe alone 
 consumes about $50,000,000 per annum of indigo, which has 
 brought as high as $2.25 per pound. 
 
 GUAVAS. What they say about guavas in California! We make 
 the following quotation from the San Diego Union, November* 
 23d, 1883: 
 
 " Hon. R. D. Blowers of Yolo thinks that the cultivation of the guava in the 
 vicinity of San Diego promises 'to become an important, and very profitable 
 branch of fruit culture. He thought $500 per acre might be obtained from 
 the guava plants. One of the Messrs. High, whose thrifty five-acre place in 
 the Chollas valley, a mile east of town, is so well known, says he thinks this 
 estimate of profit is rather under the mark. They have little less than 
 a quarter of an acre devoted to guava plants, and from this small piece of 
 ground they have already gathered and sold more than $100 worth of fruit, 
 besides using a good deal in making jelly, and the plants will continue to bear 
 for three months yet." 
 
 But in Honduras this fruit attains a perfection unknown in the, 
 Golden State. 
 
 BUSINESS OF THE COMPANY. 
 
 UBRAItY 
 
 The first business of the company will be to construct wagon 
 roads, as there are none in the department at the present time; to 
 build wharves and warehouses; to sub-divide the land; to lay out 
 towns, and establish stores of general merchandise; to erect saw 
 mills for the manufacture of pine lumber for domestic purposes and 
 for sale at Panama and elsewhere; to get out logs of fine lumber for 
 export to San Francisco and elsewhere; to purchase cattle, pigs, 
 etc., and establish canneries, tanneries, etc., for utilizing the beef, 
 etc., hides, tallow and tropical fruit. And when the necessities of 
 the colonists require, to erect sugar mills, mills for reducing ores, 
 tobacco factories, etc. The company proposes to distribute two- 
 thirds of its grant, or 333,000 acres, in lots of 200 acres each to 
 colonists, being Europeans or of European descent, besides donating 
 town-lands in lots proportionate in number to the colonist's family, 
 the only condition being occupation of premises for five years. One- 
 third of said grant, or 166,000 acres, will be offered for sale in lots to 
 suit, for cash or payment in installments; said purchases will be 
 unconditional. Also balance of 10,000 acres of town-lands on the 
 same terms. Each colonist must become a shareholder and own 
 
10 THE HONDURAS COLONIZATION 
 
 not less than $50 worth of stock, governed by the market price 
 thereof; which stock will be unassessable, and which will entitle 
 the holder to participate in all the profits realized in every 
 branch of the enterprise. 
 
 The following articles are admitted free of duty at San Francisco, 
 .California: Bananas, pine-apples, cocoa, coffee, dye woods, skins 
 (dry, salted or pickled), soap stock, albumen, etc., and the duties 
 on the other products are as follows: Limes 20% ad v.; oranges, 
 $1 60 per 1000; sugar, 1 4-1 Oc per Ib; tallow, Ic per Ib; bacon 
 and hams, 2c per Ib. 
 
 THE AUTHORITIES QUOTED 
 
 In this resume are Professor 6. Davidson, in charge of the coast 
 survey on the Pacific coast, U. S. 
 
 The chart of Fonseca Bay, with soundings, issued recently by the 
 British government. 
 
 An interesting work on Honduras, by E. G. Squires, formerly 
 U. S. representative at Honduras for about twenty years. 
 
 Captain Merry, merchant of this city, formerly a resident of the 
 adjoining State of Nicaragua. 
 
 The Encyclopedia Britannica and Chambers' Encyclopedia. 
 
 Imray's West Coast of North America. 
 
 John Connor, Esq., for nearly thirty years a resident of Hon- 
 duras, Director of Government Mint, and largely interested in 
 mines on the Pacific Slope. 
 
 Dr. M. A. Soto, ex-President, and many others. 
 
ADDENDA. 
 
 The real estate held by the company for sale is equal to one town- 
 lot and twenty -five acres of agricultural land for each parcel of fif- 
 teen shares. 
 
 The payment on fifteen shares of the second series is on applica- 
 tion $3 75, and on the 1st of each following month $1.87J cents for 
 eighteen months; total payments, $37 50. 
 
 The payments being completed, fifteen shares of unassessable 
 stock will be issued on demand. 
 
 It is expected that within two years eacb town-lot will be worth 
 $50, and each acre of farming land $5, making the total value real- 
 ized for the fifteen share interest, from sales at these figures, 
 $175.00. This money will be used partly in the erection of factor- 
 ies, etc., the whole of which expenditures will be reproductive in 
 a large degree, and partly used also in the payment of 'dividends. 
 
 Dividends are only paid on stock issued. 
 
 No prior payments are forfeited on account of non-payment of 
 installments due. Full paid up stock is issued on demand for the 
 amounts already paid in. 
 
 Particular attention is requested to these two principles of non 
 forfeiture and non-assessment. 
 
 The Directors may order the sale of any series of stock to be 
 suspended on account of appreciation in the market value, and 
 may order any other series to be placed on the market in lieu 
 thereof, or may order stock to be sold only for cash in the usual 
 way. 
 
 Colonists must own not less than $50. worth of stock, governed 
 by the market price thereof. 
 
SPECIAL HINTS TO COLONISTS. 
 
 The amount of capital a colonist will require to start a sugar, 
 coffee, indigo, or other plantation, or to engage in any other branch 
 of industry very much depends on the scale on which he proposes to 
 operate. A small plantation or farm may be commenced and 
 stocked at from $500 to $1000 including a small, ordinary house. 
 A frugal and industrious family can obtain an easier and better sup- 
 port in Honduras on $1000 than they can in any part of the United 
 States on $5000. The colonist must go prepared to take care of 
 himself for the first year. He should prepare himself with a supply 
 of blankets, light flannel suits, sheetings, ticking, and sundry 
 articles, etc., etc. 
 
 The cost of passage from San Francisco is $90.00 cabin and $45.00 
 steerage, and in companies of thirty, $75.00 cabin and $40.00 steer- 
 age. Children under twelve, half price. Freight and provisions 
 $15.00 per ton or measurement of forty feet space. 
 
 These rates are only allowed to colonists who hold the company's 
 certificate of subscription of stock to the extent of $50.00, and 
 intend to settle on the company's lands, which amount is more than 
 saved in this special reduction of rates. The regular rates being 
 $125 cabin and $62.50 steerage, and on freight $20.00 per ton. 
 
 The proper time to go down will be the 15th of February, March 
 or April, as the rainy season begins in June and continues until 
 October. " First come first served." Those who may be numbered 
 among the first colonists will hav^ the first choice of the lands. Not 
 more than thirty will be accepted in each of the above named 
 months. As soon as you make up your mind, write to the Secre- 
 tary and have your name entered on the list and subscribe for $50 
 worth of stock in the series on the market, and pay down ten per 
 cent., which will secure your place on the list. 
 
 The colonists will enjoy exemption from export and import 
 duties by having their effects pass through the company's hands; 
 otherwise they lose this advantage thus offered by the company. 
 
 It is the intention of the company to immediately erect a mill for 
 the manufacture of lumber to supply the colonists and for export, 
 thus giving employment to a number. 
 
BY-LAWS 
 
 OF THE 
 
 Honduras Colonization and Commercial Company. 
 
 AKTICLE I. 
 
 The principal office of the Company shall be at San Francisco, 
 California, with a branch office in Honduras. 
 
 AETICLE II. 
 
 The capital stock of the company shall be $1,000,000, divided 
 into 100,000 shares of the par value of $10 each. 
 
 AETICLE III. 
 
 The number of Directors shall be seven, who shall hold office for 
 one year. Vacancies may be filled at any regular meeting by a 
 majority vote of the remaining Directors, from stockholders, duly 
 qualified. 
 
 AETICLE IV. 
 
 The annual meeting of the Company shall be held at its princi- 
 cipal business office in San Francisco on the first Tuesday in De- 
 cember in each year between the hours of 7 and 9 o'clock p. M. 
 
 AETICLE V. 
 
 Special meetings of the stockholders shall be called by the Presi- 
 dent at the request of stockholders representing one-fourth of 
 the capital stock, upon notice of five days, stating the time, place 
 and 'object of such meeting. No business shall be transacted at 
 such special meeting except the particular business for which it 
 shall be called. Stockholders representing one-fourth of the stock 
 shall be necessary to constitute a quorum. Stockholders may vote 
 by proxy. 
 
 AETICLE VI. 
 
 SECTION 1. The Board of Directors shall be elected at the an- 
 nual meeting of the shareholders. 
 
14 THE HONDURAS COLONIZATION 
 
 SEC. 2. The Board of Directors shall elect from their number a 
 President, Vice-President, Treasurer and Secretary, who shall hold 
 office for the following year. They shall appoint a General Mana- 
 ger for Honduras and an Engineer, who shall be Land Agent. 
 
 SEC. 3. The officers of the Company shall be a President, Vice- 
 President, Secretary and Treasurer. 
 
 ARTICLE VII. 
 
 SECTION 1. The duty of the President shall be, to preside at all 
 meetings of the Board of Directors or stockholders, to preserve 
 order, call special meetings, when required, sign certificates of 
 stock, deeds, warrants and contracts, when required by the Board 
 of Directors, and perform all other duties incident to this office. 
 
 SEC. 2. The Vice-President shall assist the President, and in 
 his absence, perform all the duties and be invested with all the 
 powers of the President. 
 
 SEC. 3. It shall be the duty of the Secretary to keep minutes 
 of the proceedings of the Board of Directors and of the stock- 
 holders, sign all warrants on the treasury, and attest all legal doc- 
 uments and business transactions of the Company, have charge of 
 the corporate seal, be the general bookkeeper and accountant for 
 the Company, collect all moneys due, giving a receipt therefor, and 
 pay the same over to the Treasurer taking his receipt, and to make 
 a record thereof in the books of the Company, sign all certificates of 
 capital stock, and keep a regular register of every certificate thereof 
 issued, showing the number of the same, the name and address of 
 the party to whom issued, and the number of shares held thereof. 
 On the transfer and surrender of any certificate of capital stock, he 
 shall endorse thereon the date of transfer and the name of the 
 party to whom the same, or any part thereof, has been transferred, 
 mark said certificate cancelled, note the cancellation and date 
 thereof on the register, and paste it in the ordinary certificate book 
 on the margin, from which it was originally taken. (Books for 
 the transfer of stock shall be closed five days prior to the annual 
 meeting. ) To see that the officers make out their bonds and file 
 the same in the office of the Company, and attend to all other 
 duties that the Board of Directors may require. 
 
 SEC. 4. It shall be the duty of the Treasurer to deposit all 
 moneys, mortgages, and other securities belonging to the Company 
 
AND COMMERCIAL COMPANY. 15 
 
 in some leading bank of San Francisco, in the name of the Hon- 
 duras Colonization and Commercial Company; he shall not make 
 any payment of money except on warrant drawn by the President 
 and Secretary, and endorsed by himself. He shall make a weekly 
 report of his bank deposits to the Secretary, and a full statement 
 of his cash account at each monthly meeting of the Board of 
 Directors. He shall give a satisfactory bond for the faithful per- 
 formance of his duties, with two sureties. 
 
 SEC. 5. The General Manager shall reside in Honduras and have 
 charge of the Company's business, carry out the plans of the 
 Directorate, and make a monthly report of his acts to the head- 
 office. 
 
 SEC. 6. The Engineer shall be the Company's land agent 3 he 
 shall make the surveys, have charge of the Company's lands in the 
 State of Honduras, and report his acts to the head-office each 
 month . 
 
 AKTICLE VIII. 
 
 The Board of Directors shall meet on, the first Tuesday of each 
 month at the office of the Company. Three Directors shall con- 
 stitute a quorum for the transaction of business. Special meetings 
 may be called by the President. 
 
 AKTICLE IX. 
 
 The Board of Directors shall assign the duties of its officers; 
 exact bonds for the faithful discharge thereof, when necessary ; fix 
 their compensation, and shall have the power to discharge them 
 upon proof of their incompetency, innattention to duties or malfeas- 
 ance in office. 
 
 AKTICLE X. 
 
 The stockholders at their annual meeting of each year shall ap- 
 point three of their number a Committee to examine the books of 
 the Secretary, Treasurer, and other officers, together with all 
 vouchers and other securities; to inquire into the financial condition 
 of the Company, and submit a written report of their labors to the 
 Board of Directors within one month thereafter. 
 
 ARTICLE XI. 
 
 These By-Laws may be altered or amended at any annual meet- 
 ing of the Company, or at any special meeting called for that 
 purpose, by a vote of two-thirds of the subscribed stock. 
 
Colonization! Commercial Company. 
 
 The following resolution was adopted by the Board 
 of Directors December 5th, 1883: 
 
 Resolved, That the stock of the Company may be 
 offered in series, and the payments may be made in 
 cash or installments. Subscribers who are three 
 months' delinquent in the payment of their install- 
 ments shall have their accounts closed, and paid up 
 stock in the same series shall be allotted them in pro- 
 portion to the payment made. 
 
 Series No. One of 25 certificates, each 2000 shares, 
 at $2. 00 per share subscribed, 
 
 The following series are now on sale, the pay- 
 ments upon each series will be governed by this table. 
 When one series is exhausted the next series will be 
 placed on sale unless otherwise ordered. 
 
 
 
 is 
 
 aDS^ESS 
 
 ^ED ZEP^TT: 
 
 
 
 
 5? 2 
 S > 
 
 ^ >? 
 
 ^ ** 
 
 
 SERIES. 
 
 SHARES. 
 
 Cog 
 
 g 
 
 1 1 I 
 
 l! 
 
 
 
 02 
 
 ^ w 
 
 2 ^ 
 
 1 2 
 
 
 
 1 * 5 
 
 > H 5 
 
 > K ^ 
 
 "X O 
 
 
 
 ? 59 
 
 i 
 
 s ^ 
 
 ' ' a 1 
 
 " 
 
 *i 
 
 2 
 
 5,000 
 
 $ 2.50 
 
 25 cents. 
 
 12^ cents. 
 
 18 Months 
 
 3 
 
 5,000 
 
 3.00 
 
 30 
 
 15^ 
 
 18 
 
 4 
 
 5,000 
 
 3.50 
 
 35 
 
 17J 
 
 18 
 
 5 
 
 5,000 
 
 4.00 
 
 40 
 
 20 
 
 18 
 
 6 
 
 5,000 
 
 4.50 
 
 45 
 
 22J 
 
 18 
 
 7 
 
 5,000 
 
 5.00 
 
 50 
 
 25 
 
 18 
 
 8 
 
 5,000 
 
 5.50 
 
 55 
 
 27J 
 
 18 
 
 9 
 
 5,000 
 
 6.00 
 
 60 
 
 30 
 
 18 
 
 10 
 
 10,000 
 
 10.00 
 
 $1.00 
 
 50 
 
 18 
 
 The Stock of this Company is not 'Assessable. 
 
" _____ .__ B SLi tmm , .... a*- 
 
 --WC-- 
 
 WEST 88 FRO MOREEN W! CM