The Marietta journal. [volume] (Marietta, Ga.) 1866-1909, 1904-09-08
GEORGIA-Cobb County:

That said Company was Incorporated
by the Superior Court of said county
October 1st, 1900. Said charter was ac-
cepted by the stockholders Of said Com
pany November 18th, 1900
Your petitioners pray said court to
pass an order granting the following
amendments to said charter:
Sec. l. The right to purchase. borrow,
hold, lease, manage, control and operate
on such terms and conditions as to this
corporation mayseempropef water water
rights, power, electrical and other power,
and to own aid operate Water Works
Companies, Sewerage Companies and
Electric Light plants, having the right
to build plants of its own or to acquire
existing plants or to own stock in such
corporations as the stockholders of said
company may deem to the best interest
of the company.
Sec. 2. The right to carry on other
business whether manufacturing or
otheryise) which may seem to the com
pany capable of being conveniently car
ried on in connection with the above or
cSlculated directly or indirectly to en-
hnce tAe value of the company props
erty or rights, having the right to &C
quire the goodwill, rights, property and
assets of all kinds, and to undertake the
whole or any part of the liabilities of
any person, firm, association or corpora
ton, and to pay for the same in cash
stock, bonds, or other securities of this
corporation, or otherwise.
Sec. 3. To have the right to issue and
sell Preferred Cumulative stock not less
than $25, 10000, and not more than $780,
00000 divided into shares of $4,000
each, which preferred stock shall be en-
titled out of any and all surplus net
profits, whenever ascertained, to cumu-
lative dividends at the rate of seven per
cent pei annum in each and every year
hereafter, in preference and priority to
any payment of any dividends on the
common stock for such year. The COM
mon stock shall be subject to the prior
rights Of holders of the preferred stock
as herein declared If, after providing
for the payment of full dividends for any
year on the preferred stock and for any
balance that may remain due on the Gu
mulative dividends on such preferred
stock Tor preceding years, there shall
remain any surplus net profits, any and
all such surplus profits not in the opinion
of the board of directors required to pro-
vide for the maintenance, improvement.
enlargement and operation of the prop
erty and business of the corporation, or
for the payment of it's liabilities, shall
be applicable to dividends upon the COM
mon stock for such year, to the extent
of but not exceeding eight per cent upon
the said common stock, when and as
from time to time the same shall be de-
clared by the board of directors; which
dividends upOnI the common stock shall
not be cumulative, but shall only be paid
if earned The remainder of any such
surplus net profit shall then be applica-
BILE to the payment of further dividends
equally per share upon both preferred
and common stock. The board of direct
ors may declare, and out of such surplus
net profits may pay, annual dividends
upon the common stock of the said cor
poration, to the extent of but not exceed
ing eight per cent upon such common
stock, but no such annual dividends shall
be declared or paid until the cumulative
dividends shall have been paid in full
upon the preferred stock for such year,
and for all preceding years; and after the
payment of such cumulative dividends
upon the preferred stock and such divi-
amount of not exceeding eight per cent,
out of any further surplus net profits the
board of directors may declare and pay
dividends equally per share upon prefer
red and common stock. In the case of the
dissolution or termination of the corpor-
alton, the preferred stock and the holders
thereof shall also be entitled to prefer
ence in the distribution of the assets and
property of the corporation, and any and
all such assets and property IN case of
such dissolution shall be applied first to
the payment in full of the principal of
the said preferred capital stock at par
with all cumulative dividends thereon in
preference and priority to any payment
upon the common stock, and second, the
balance remaining shall be applied to
the common stock.
Sec. 4. All or any portion of the pre-
ferred stock shall be subject to redemp-
ton, at the option of the corporation. on
the first day of January, 1908, or on the
date of payment of any preferred stock
dividend thereafter, at the price of One
Hundred and Ten Dollars for each share
and the amount of dividend accumulated
and unpaid thereon at the date of re-
demption. In the event of the redemp-
ton of all or any part of the preferred
stock, the company shall have the right
at any time in the future to issue and
sell preferred stock in amounts not ex-
ceeding limit herein specified in the
same manner as herein provided for.
Sec. 5. SO long as the dividends reserv-
&c on said preferred stock shall be paid
as and when the same are by this instru-
ment provided to be paid, the holders of
the preferred stock shall have no voting
power on any question. In the event,
however, that any dividend due on the
preferred stock shall not be paid when
payable hereunder and shall remain so
unpaid Tor period of four months, then
special meeting of the stockholders of
the company shall be called at the re-
quest of any preferred stockholder or
stockholder owning preferred stock of
the par value of ten thousand dollars,
which meeting shall be convened on ten
days notice by mailing a copy of such
notice to each preferred stockholder of
record at the time such notice is mailed
to his address as the same appears at the
time upon the preferred stock ledger of
said company, and at such meeting, if
said dividend still remain unpaid, the