The news-herald., 1903-02-28


O And in the usual course of bus
mess of said corporation and for the
purposes incidental to the legitimaTc
business for which this corporation Is
formed to borrow and loan money, and
to give and accept securities.
(m) To do and perform all
other things necessary or Incl
dent to the purposes herein
after set forth and to transact
any and all kinds OF business which
natural person may lawfully engage in
Fifth: That the place where the
principal business of said corporation
is to be transacted is the city and
county of San Francisco, state Of CALI
fornia.
Sixth: That the term for which said
corporation is to exist is twenty-five
(25) years, from and after the date os
its Incorporation, and may thereafter
be renewed from time to time for
period not exceeding twenty-five (25i
years, as provided by law.
Seventh: That the number of d.
rectOrs or trustees of said corporation
shall be five, and that the name and
residences Of the directors or trustees,
who are appointed for the first year.
qualification of such officers, are as fol-
lows, t0-Wit:
Names Residences.
E. S. Isaacs San Francisco, Californl2
Nj. D. Roemer San Francisco, California
w. ]. Tabor San Francisco California
G. w. Lynch San Francisco, California
W. H. Morrissey,
San Francisco California
Eighth: That the total amount of
the authorized capital stock of this
corporation is one million $1,000, ,00t)
dollars, and the number of shares into
which it is divided is one million
Il 100000 shares, of the par value Of
one ($1.00) dollar each; OF such total
authorized capital stock, eight hun
dred thousand (S0O,0OO) shares,
amounting to eight hundred thousand
(sS00000) dollars shall be common
stock, and two hundred thousand
(200OOO) shares. amounting to two
hundred thousand ($2OO,OOW dolla s,
shall be preferred stock. Before a At-
vidend shall be paid on the common
stock the holders of the preferred
stock shall be entitled to receive when
and as declared monthly dividends Of
one Il per cent? per cent per month.
The dividends on the preferred stock
shall not be cumulative. but shall be
paid for the period directed by the
board of directors.
When there shall be q surplus or
net profit remaining in the treasury
of the company after paying the divi-
dend on the preferred stock, them q
dividend may be declared on the COM
mon stock to the amount Of one II per
cent? per cent per month, and when
!
company surplus or net profits suffic-
lent to pay the dividend on the pre-
ferred stock and the dividend of one
Il per cent? per cent on the common
stock, then such surplus as may re.
main after paying one per cent divl-
dend on the common stock and one per
cent dividend on the preferred stock
may be disposed of by declaring al
equal dividend on both the common
The holders of the preferred stock shall
have the same rights and privileges as
the holders of common stock. In the
event of any liquidation, or dissolution
or winding up (whethcr voluntary "a
Involuntary OF the corporation, the
holder of the preferred stock Shall not
be entitled to receive any greater por-
ton of the assets than the common
stock. but the assets shall be divided
and paid to the holders of the common
stock and preferred stock share and
share alike
Ninth: That capital stock may be
paid for in cash or property at such
times and upon such conditions as
may be provided by the bylaws or TIC
board of directors.
Tenth That the amount of said
common capital stock which has been
actually subscribed is twenty-five |
($25.O0) dollars, and the following are
the names of the person by whom tic
same has been subscribed, to-wit:
Names of
Subscribers. No. of Shares. Amount |
E. S. Isaacs, five shares. $500
M. D. Roemer, five shares. ....... 500
w. ]. Tabor, five shares. .... 500
G. w. Lynch, five shares ... 500
W. H. MOrrisey, five shares. .. 500