Ka Wai Ola - Office of Hawaiian Affairs, Volume 17, Number 7, 1 Iulai 2000 — Bishop Estate [ARTICLE]

Bishop Estate

In following the never-ending headline stories of the former Bishop Estate trustees, I have heeome more confused than when the allegations of wrongdoing were first brought to the fore. The financial report of the investments by the trustees in the past 10 years would include not only those of the past five, but also those of the predecessors they replaced, Takabuki, Thompson, Richardson, to name a few who set policy and made some of the controversial investments. I'm no mathematician, but those investments, some good, some bad, enhanced the weahh of Kamehameha Schools by some $4 hillion, a handsome sum by any estimation. The trustees of the past 30 years have brought more weahh to the schools than those of the previous 100 years. So what's the beef? Jealousy? I attended Kamehameha from 1937 to 1941. We lived in shanty dormitories built in 1 883 and located off King Street. The Bishop Museum was part of our campus. The haole trustees contemplated selling some of the estate land because of the difficulty in supporting 350 boys and girls. We beneficiaries ean thank God this did not happen. I pray the change of policy by present-day trustees will not impoverish the estate. I am personally skeptical of the Bishop Estate interim trustees' new policy. Paul Lemke Kaoa'a