The Washington herald., 1906-10-12
Union Trust Company to Is
sue 100000 New Stock.
WARRANTED By PROSPERITY
Original stockholders Have Option
on Two shares for Every Three OF
the Original HeId-Issue to Be Used
In Part for Building Operations.
The Resolution Adopted.

f1F UNANIMOUS NttiVH Dl ttlt BUdfu OF
directors, yesterday, the Union Trust
Company increased its capital stock
from sI,2O0,CCo to s2,0o0,ccO This Increase
Of stock was made in part to meet the
expenses Of new building operations, and,
in part, to supply funds necessary for
the gradual business expansion Of the
company.
II was determined also that SS0G.G00 Of
the additional capital shares should be
offered TO the stockholders of the com
pany at SIZE a share, and the right was
given each stockholder 10 subscribe fer
two shares of the rev for every three
shares Of the original stock owned by
him.
The resolution adopted provides that
subscriptions TO the new stock shall be
paid at intervals OF one month in twelve
equal installments, beginning with De-
cember 1 of this year.
/ The original stock Of the company sold
/ on the washington Stock Exchange yes
/ terday at I53. and it is predicted that the
new stock will be worth a figure around
/ $50 as soon as issued The new building
I Of the company on the southwest corner
/ Of Fifteenth and II streets, adjoining The
Herald building. is IN the hands OF the
| contractor. and the foundations are be
/ ing laid According TO the statements OF
/ the company made TO the comptroller, its
affairs are in excellent condition, and
I the increase Of capital stock is regarded
as a siga Of prosperity. Of which the
/ stockholders feel warranted in taking adj
vantage. Following IS the formal Teso-
luton adopted by the board Of directors;
Text OF Resolution.
Resolved: That the capital stock Of
( the company be increased FROM Sl,20o.0J0
/ 10 100000; that the SSo0GC0 additional
capital in shares Of S100 each be first Of
/ fered TO The stockholders Of the company
( at a price of $40 per share. and the right
given 70 each stoclchOlder to subscribe for
/ two shares Of the new fov every three
shares OF original stock held by him. as
Of record or the day hereinafter named.
THAT subscriptions 10 the increased
capital be paid 10 The comDan" in cash.
( I'm twelve equal instalmeats. to be made
at intervals OF one month each. the first
payment 10 be made uu the FIRST day Of
1 December A. D., 1905. payments 10 be en-
forced as in section ~ Of the code of law
of the District Of Columbia provided.
that this right SHAH accrue only 10 such
persons as are stockholders Of record on
the gist day Of October A D.. 1870. and
for the purpose Of ascertaininE who are
thus entitled 10 subscribe the transfer
books shall .e closed on the first day OF
! November. A y. 1865 and remain closed
two DAYS Any balance or part Of E1id
now issue remaining UnsubscIibed for
/ after the expiration Of the period herein
after limited shall become the treasury
stock Of the company. 10 be- sold ia the
-. 4 s.r .4Ia... ..ass az ca
price however not less than Sl29 per
share
That stockholders of record at the
+ close uf business October -, 1906. shall
have the FUN month Of November, 800,
within which to exercise their right 90
subscribe 20 the additional stock, and
those exercising this right viii receive on
payment OF the drst installmeHt due ne
. gotiable certificates for al full shares and
script certificate Tor All fractional
+ shares. said certificates TO be issued on
and after December l. 1911.
THAT holders Of script certificates In
multiplcs 10 the amount of one or more
shares presenting the same at the office
+ Of the company on or before the first day
OF july 4 H. 1907 shall receive therefor
negotiable receipts and all rights on fruc-
tional shares unless presented as above
4 provided on or before said first dag of
July. A j.. 1890, shall revert 60 the com
+ pany and become treasury stock. 10 be-
disposed Of at q price Of not less than H2g
/ per share
"That after aU subscriptions shall have
been paid iu fun and the subscribers re-
/ Cript surrendered % the company fully
paid stock certificates shall be issued in
lieu thereof on January .. 1873, and from
and after that date be entitled 10 psTtici-
pate I'm an dividends. on the same basis
{ as the original issue.
THAT the board Of directors Of the con-
plny D.. authorized and directed a. cary
into effect the provisions OF this resolu-
ton. with power 10 make such changes
+ or minor deviatiOns from the plan herein
set forth not Inconsistent with the pro-
visions hereof.