The Richmond Virginian. (Richmond, Va.) 1910-1920, 1916-03-06

mum from date OF issue. and also shall
participate. share for share. with the
common stock in any excess of divi-
dends over twelve per cent. tl29o) on
the. common stock paid In any calen-
dar year.
(d) In case the cumulative dividends
of eight per cent. $50 on the pre-
ferred stock shall be In arrears for
periods aggregating two CD years
then the preferred stockholders alone
shall thereafter have the right to elect
at the annual meetings one-half u-2)
of the number of directors to be elect
ed until the net surplus of the corpo-
ration shall be sufficient to pay all ar
rears In the cumulative Z .fdends on
tho preferred stock
(e) The common stock. subject 20
the restricted voting right of the pre-
ferred stock. shall have full voting
power. and subject to the preference
of the preferred stock. as to dividends.
shall be entitled to any further divi-
dends that may be paid in any caien-
dar year to the extent of twelve per
cent. U2%) per annum. after which
the preferred stock and the common
stock shall participate, share for
share. In any further dividends.
~ In case of liquidation, dissolu-
tfon or other distribution of assets.
except by payment of dividends, the
preferred stock shall have preference
as. to assets over the common stock
to the extent of its par value, and I'M
paid accrued dividends, and any fur
Their distributions of asset shall be APP
piled to the common stock to the ex-
tent of It's par value, after which
both the preferred stock and the
common stock shall participate,
share for share. in any further dis
tribution of assets.
(g) The preferred stock shall not
be subordinated to any other class of
stock as to dividends or assets, nor
shall the amount of the preferred
stock be increased. or any mortgage
bonds be iscued: except with the af-
frmative vote of two-thirds t2-3) In
amount of the preferred stock then
Outstanding.
That hereinbefore set forth is
copy OF the proceedings of said cor
poration, so far as they relate to this
subject and which were duly entered
upon the records of said corporation.
In witness whereof, the said Con-
tinuous Casting Corporation has
caused this certificate to be signed by
Its president and its corporate seal
to be hereto affixed, attestsd by It's
secretary, this 2sth da If February,
1915.
GRANVILLE MELLEN,
(seaD President.
Attest:
ID. NJ. VAN vLIET.
Secretary.
State OF New York. County of New
York, SIS.
On this 2Sth day of February, 1915.
before me. Fred +. Kuhlmann. a no.
tary public for the county aforesaid.
In the State OF New York. personally
appeared Grenville Mellen and D. NJ.
Van vliet. severally known to me and
to me known to be the several per
sons described In and who severally
executed the foregoing instrument
bearing date on the 2Sth day of Feb
ruary, 1916. and severaily acknowi-
edged before me in my county afore-
said that they executed the same.
My term OF office expires on the 3fst
day OF March. 1917.
Given under my hand this 2Sth day
of February. 1915.
fseaD FRED r. KUHLMANN.
Notary Public.
Bronx County No. 81 certificate filed
In New York County No. 1919. New
York Registers No 1857.
Commonwealth OF Virginia.
Department of the State Corporation
Commission.
City of Richmond. 2sth day of Febru-