The news-herald., 1903-04-04

dollars, and the number Of shares into
which 1t is divided Is one million
Q,000,000) shares, Of the par value Of
one ($1.00) dollar each; of such total
authorized capital stock. eight hum
dred thousand (S00,0O0) shares.
amounting to eight hundred thousand
! $500, ,000) dollars shall be common
stock, and two hundred thousand
(200,000) shares. amounting to two
hundred thousand ($200,000) dollars,
shall be preferred stock. Before a d.
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 q 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 a surplus or
net profit remaining in the treasury
OF the company after paying the divi-
! dend on the preferred stock, then a
dividend may be declared on the conf
mon stock to the amount Of one Il per
cent? per cent Ger month, and when
there shall be IN the treasury of this
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 divi-
| 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
and preferred stock of the company.
The holders of the preferred stock shall
have the same rights and privileges aa
the holders of common stock. In the
event Of any liquidation, or dissolution
or winding up (whether voluntary OF
Involuntary Of the corporation, the
holder Of the preferred stock shall not
be entitled to receive any greater por-
tion 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 the
board Of directors.
Tenth: That the amount of said
common capital stock which has been
actually subscribed is twenty-five
(s2500) dollars, and the following are
the names of the person by whom tce
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. J. Tabor, five shares. ..... 500
G. W. Lynch, five shares. .... 500
". II. Morrisey, five shares. 49,. 500
Eleventh: That the highest amount
Of Indebtedness or liability, direct or
contingent, to which the corporation is
at any time subject is two hundred and
fifty thousand ($250,00O) dollars
Twelfth; That the private properly
OF members or stockholders of said
corporation shall be exempt from
liability for corporate debts.
Thirteenth: At all elections of di-
rectors, each stocknolder entitled to
vote shall be entitled to as many votes
as shall equal the number Of his shares
Of stock multiplied by the number Of
directors to be elected, and he NAV
cast all of such votes for a single di-
rector Or many distribute them among
the number to be voted for or any two
or more Of them as he may see fit.
In witness whereof, we have here
unto set our hands and seals this 18th
day Of February, A. D. one thousand
nine hundred and three.
E. S. ISAACs. (seaD
NJ. D. ROEMER. (SeaD
w. J. TABOR. (saai)
G. ". LYNCH (Sea])
w. H. MORRISSEY. (Seal)
State Of California,
City and County Of San Francisco. So.
On this 18th day of February, in the
year one thousand nine hundred and
three. before me, w. T. Hess, notary
public in and for the county aforesaid
residing therein, duly commissioned
and sworn, personally appeared f. s
Isaacs. M. D. Roemer. w J. Tabor G
w. Lynch and w. Fl. Morrissey. known
to me to be the persons described in.
whose names are subscribed to. and
who executed the annexed instrument,
and they acknowledged to me that
they executed the same for the pur
poses and considerations therein ex.
pressed