The Greenville times. [volume] (Greenville, Miss.) 1868-1917, 1904-07-30
Articles of Amendment
To the Charter Of Incorporation Of Chicago
Mississppi Land and Lumber Company.

Know all men by these pre- ents that we,
the undersigned being the holders aud own
era of all and singular the shares Of the capt.
ia stock of Chicago Mississippi Land and
Lumber Company now outstanding, 90 oy
alton of said company, pursuant to Chapter
Twep,y-hv We of tn /. Code of Mississippi, for the
wear 1892 Gas amended, the approval OF the
Governor of the State of Mississippi to be first
in lieu of Article Seven of said Chartar,
which, prior to the amendment thereof was in
the following language
"ARrlCLE VII The capital stock of said
stCorpOration shall consist of four thousand
s'shares of the face or par value of one hundred
''dollars each, making the aggregate capital
"stock the face or par value of four hundred
"tkousand dollars.''
To substitute the following;
"ARTIULE SEVEN.
HThe capital stock of this corporation shall
consist of four Thousand shares of the face or
par value of one hundred dollars each, max
ing the aggregate capital stock the face or par
value of Four Hundred Thousand Dollars
$500, 100000. Fifteen hundred Of said shares,
aggregating the face or par value of One Hun
dred and Fifty thousand Dollars l$50,OO0 0Ol
shall be preferred stock, and the remaining
twenty-five hundred shares aggregating the
face or par value of Two Hundred and Fifty
Thousand Dollars 1880, 10000 shall be COM
mon stock
'sThe preferred stock of thus Company shall
be entitled out of surplus net earnings to cum
uIative preferential dividends from date of its
issuance at the rate of seven per centum per
annum prior to the payment OF any dividends
upon the common stock. The preferred stock
shall not be entitled to any dividends in excess
Of said seven per centum, and arrears thereof
"The common stock shall not receive divi-
lends for any year unless seven per cent be
first paid for that year on the preferred stock
then outstanding, together with all arrears of
dividends at the like rate for previous years
but when seven per cent Is paid for any year
upon the preferred stock then outstanding to
gether with all arrears of like dividends for
previous years, the residue of the net earnings
of the Company or so much thereof as may not
be needed In the business of the company may
thor be distributed as dividends ra'eably upon
the common stock of this corporation
upon the liquidation or dissolution or
winding up of this corporation whether vol
urtary or involuntary the preferred stock
hail be entitled TO receive, out OF the assets
the face or par value Of such preferred stock
and all arrears of dividends thereon and no
more. Thereafter the residue of the funds and
assets of his company shall he divided equally
among shares of Uncommon stock Of this Com
pany. Tie common stock shall he subord-
nate TO the rights of Tie preferred stock ex-
cept that each share Of common stock shall
have equal voting power with each share of
preferred stock
In witness whereof we, the undersigned, be-
ing the holders of all the capital stock of said
Chicago Mississippi Land and Lumber
Company now outstanding have caused the
foregoing amendment to be spread OF record
upon the records of said corporation and have
hereunto subscribed our names this Ieth day
of July, A. D., 1904.
jul %, 1t