Omaha daily bee., 1902-12-23

after January , 1904. shall FIRST have been
paid as set apart
button Of the. capital OF the company,
whether through Insolvency as the termina-
ton Of the corporate existence, or other
wise. after payment Of the debts OF the
company, the holders OF preferred stock
shall be paid the par value thereof. to-
gether with all accrued dividends then due
and unpaid. before the holders shall be
entitled TO any paymen on account thereof.
and the remainder Of the assets, after pay
ment as Aforesaid. shall be distributed
pro rata among the holders of said com
mon stock exclusively
All stock of tho company issued prior to
October T. 1902. shall be considered common
stock. and the holders, upon surrender
thereof. shall be entitled to ar equivalent
amount al par Of the common stock of the
The capital stock may be increased. or
these articles otherwise amended. at any
regular meeting Of the stockholders or at
any special meeting called for that purpose,
Of which notice shall have been mailed to
the last known postoffice address of each
stakeholder at least thirty days prior to
such meeting, but no change shall be
made in the terms OF preference of the pre-
ferred stock. The amount Of preferred
stock shall not be increased without the
consent OF the holders of a majority Of the
preferred stock.
Birth of the Company.
The fifth article provides that the date
Of the commencement Of this corporation
shall be October 5, 1891, and the date Of
termination October 8, 1890.
The sixth article stipulates that the
Indebtedness or liabilities Of this corpora
ton shall not at any time exceed two
thirds Of its capital stock and the liability
Of the several stockholders Of this cor
p%oration shall be limited to the amount
Of the unpaid subscriptions OF said stock
holders respectively to the stock Of this
corporation.
Tho eevapfb ortgoIo ar,or A. -.o4kza,
Of managing the company. There are to
be nine directors, elected the second Mon
day of each January. A majority will
constitute a quorum in their meetings and
all vacancies are to be filled by the re-
naming members, pending the next regular
election. 1t is provided also that at any
time after the filing of this certificate and
prior to the second Monday of January,
1903, the stockholders may elect directors
to serve until the latter date. There is
a vote for each share. with proxies APP
pointed in writing accepted.
At their first meeting after their cleo
tion the directors are to elect a president,
first and second vice presidents, a secre-
tary, an assistant secretary and a treas
urer, One man may serve as both secre-
tary and treasurer. The directors are en-
powered to make, alter and repeal bylaws,
appoint committees OT dBeuIB anu 10 the
other usual things.
Deeds to Make Delivery Complete.
At noon there was filed with the register
of deeds three deeds Of conveyance which,
in effect, give the Omaha Street Railway
company ownership of the properties Of
the Benson & Halcyon Heights Street
Railway company, the Metropolitan Street
Railway company and the Metropolitan
Cable company Of Omaha, the transfer
marking a final step preliminary to the
Omaha Street Railway company's deliver
ance to the merged body.
The directors Of the Benson line, being
first duly authorized so to do by the consent
in writing Of the holders of all the capt.
tai stock Of the company, make the con-
veyance 'in consideration of 81 and other
valuable considerations" Frank Murphy
as president and w. V. Morse as secretary
sign the deed for the Benson company.
The transfer includes the franchise, stock
and all things else.
The same men in the same capacities
sign for the Metropolitan Street Railway
which has the South Omaha fran
chiso. The return is also 81 paid in hand
and other valuable considerations
Guy c. Barton. as president, and William
s. Cox, as secretary, signed the deed given
by the Metropolitan Gable Railway COM
of Omaha. which has the Dundee
line. In this transaction the directors sell
for $4,000 and other valuable considera-
tion."