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IN RE ISLAND AIRLINES, INC.

No. 4212.

361 P.2d 390 (1961)

In the Matter of ISLAND AIRLINES, INC.

Supreme Court of Hawaii.

Rehearing Denied March 28, 1961.

Attorney(s) appearing for the Case

Frank D. Padgett, Honolulu (J. Garner Anthony and Arthur B. Reinwald, Honolulu, on the briefs; Robertson, Castle & Anthony, Honolulu, of counsel), for appellant.

Arthur S. K. Fong, Deputy Atty. Gen. (Shiro Kashiwa, Atty. Gen., on the brief), for Public Utilities Commission, appellee.

Herbert Y. C. Choy and Ingram M. Stainback, Honolulu (Fong, Miho, Choy & Robinson, Honolulu, of counsel), for intervener, Aloha Airlines, Inc., appellee.

Richard K. Sharpless, Honolulu (Lewis, Buck & Saunders, Honolulu, of counsel), for intervener, Hawaiian Airlines, Inc., appellee.

Robert A. Bicks, Asst. Atty. Gen., Richard A. Solomon, Atty., Department of Justice, Franklin M. Stone, General Counsel, Civil Aeronautics Board, Washington, D. C. (with John H. Wanner, Deputy General Counsel, O. D. Ozment, Associate General Counsel, and William F. Becker, Atty., Civil Aeronautics Board), Washington, D. C., filed a brief for Civil Aeronautics Board, amicus curiæ, but did not argue.

Before TSUKIYAMA, C. J., CASSIDY, WIRTZ, LEWIS, JJ., and J. J. F. DYER, Circuit Judge, Assigned by Reason of Vacancy.

LEWIS, Justice.

Island Airlines, Incorporated, referred to herein as "applicant" or "island," on May 20, 1960, submitted to the Public Utilities Commission of the State an application which, as subsequently amended, shows as follows:

Applicant has been incorporated under the laws of the State with a present capitalization of $15,000. It intends to increase its capitalization to $250,000, "upon approval by the Commission...

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