The Princeton union. [volume] (Princeton, Minn.) 1876-1976, 1913-01-16
First Pub. Jan. 9-2t)
Certificate of Amendment of the A..
ticles Of Incorporation of
'sThe Agency

~Sl tnlCate Vi Amen0ment OF the Ar.
ticIes OF Incorporation of
"The Agency
Swan S. Peterson. the president
and John F. Peterson, the secre-
tary, of '"The Agency do hereby
certify that meeting of the share
holders of ''The Agency was duly
and legally held on the 3lst day Of
December. 1912, at two O'Clock in
the afternoon at the principal office
and place of transacting the business
OF said corporation in the village of
Princeton, county of Mile Laos and
state of Minnesota, and that at said
meeting so held, the following res
olutions were adopted and the arti-
Giles OF Incorporation of said CORPORA
tlon were amended by vote of more
than a majority of all the members.
shareholders and stockholders, and of
all the shares and stock of said cor
poration. as follows: 81
Resolved, that article third of the
articles of Incorporation of ''The
Agency be and the same is hereby
amended to read as follows:
That the total amount of capital
stock OF this corporation be Sl3O, 900,
divided into 1900 shares of 500
each. ~~A
That 300 shares of par value of 500
each aggregating $4,000 shall be
common stock.
That 200 shares of the par value
OF 800 each aggregating 100000
shall be preferred stock.
That said preferred stock shall en-
title the holder thereof to receive
out OF the net earnings of the cor
poration, fixed annual dividend of
SIX per cent payable semi-annually in
January and July of each year. be-
lore any dividends shall be paid or
SCI apart 1or the common stock.
That said dividends on the pre-
ferred stock shall be cumulative: so
that it in any year dividends amount
ing to six per cent shall not be paid
on such preferred stock, the de-
iciency shall be charged against the
earnings of the years following. and
payable subsequently before any divi-
dends shall be paid upon or set
apart for the common stock: that
the balance of the net earnings of
the corporation, after the payment
OF said cumulative dividend of six
per cent per annum to the holders of
the preferred stock, may be distrib-
uted as dividends to holders of COM,
mon stock. '-~''
That in event of liquidation or dis
solution of the corporation the hold
ers OF preferred stock shall be enti-
tied to be paid from the net proceeds
of the assets of the corporation, the
par value of their shares with ac-
crued dividends, before any payment
shall be made to the holders of the
common stock. f.
That the holders of the preferred
stock shall have no voice by virtue:
hereof in the election of the direct
ors of the corporation except when
ever default shall have been made in
the payment of the dividend on the
preferred stock as stipulated, then
the holders of the preferred stock
shall have exclusive powers of voice
and vote in the election of directors
to the exclusion of such powers by
the holders of the common stock:
when, after default in the payment
of dividends on the preferred stock
as stipulated, said dividends shall
have been resumed SO that all cumu-
lative dividends on the preferred
stock shall have been fully paid,
stock and of the preferred stock shall
each revert to and resume the same
rights and powers and no others
which each had previous to any de-
fault in the payment of dividends
on the preferred stock.
That any of the preferred stock
shall, after period of ten years, at
the discretion of the board of direct
ors of the corporation, be subject to
redemption at par and all accrued
dividends on any dividend day on
giving notice in writing to the hold
er thereof of record not less than six
months prior thereto.
Swan S. Peterson,
President of ''The Agency - -
John F. Peterson.
Secretary of '"The Agency -
CORPORATE SeaD