The Trustees shall have further power, from time to time to hold as 

 investments such property as may be transferred to them by any person, 

 persons or corporations, and to invest and reinvest any sum or amounts from 

 time to time in such securities and in such form and manner as are permitted 

 to trustees or to charitable or literary corporations for investment, or in such 

 securities as are authorized for investment by any deed of gift or trust or 

 last will and testament which may be hereafter made or executed, where- 

 under such funds are held. 



VII 



The corporation may take, hold and use, any gifts, grants, devises or 

 bequests which may be made in support of the purposes of the said Institu- 

 tion; and subject to the terms, and conditions of the respective gifts, grants, 

 devises and bequests may include in the expenses thereof the necessary 

 expenses which the Trustees may have incurred in attending meetings or 

 otherwise in carrying out the business of the trust, but the services of the 

 Trustees, as such, shall be gratuitous. 



VIII 



The Board of Trustees may, from time to time, bind the corporation 

 to make special statements of the affairs of the Institution or any of its de- 

 partments to corporations, institutions or persons designated by any deed of 

 trust or last will and testament to receive such reports on behalf of the 

 donor, and they may further obligate the corporation to administer and 

 expend the principal or income from any gift of funds or securities assigned 

 or provided by any donor for the benefit of the Institution, though held in 

 the custody of any other corporation, institution or person as required by 

 the terms of such donation. 



IX 



As soon as may be possible after this instrument shall have been duly 

 signed and sealed, a meeting of the Trustees hereinabove named shall be 

 called by said F. C. Atherton, W. A. Bryan, J. B. Castle, C. H. Cooke, 

 and H. E. Cooper, or any three of them, at the city of Honolulu, in the 

 Territory of Hawaii, by notice served in person or by mail addressed to 

 each Trustee at his place of residence; and the Trustees shall organize and 

 proceed to adopt by-laws, elect officers and appoint committees, and to 

 generally organize the corporation. 



