The Bridgeport evening farmer. [volume] (Bridgeport, Conn.) 1866-1917, 1917-10-25
BIG S45,000,000
STOCK ISSUE FOR
new HAVEN ROAD
Overwhelmingly Favored by
Stockholders directors
Re elected.

New Haven, Oct. 25.-By vote of
i.2o2, 1892 shares to 1866, the New York,
New Haven and Hartford Railroad
company. at it's annual meeting held
here last night, passed the resolution
authorizing an issue of preferred
stock to the amount of s45,0O0O00.
The resolution authorizing the issue
Of preferred stock is as follows:
Voted, That this company issue
100000 shares of preferred stock of
the par value of s100 each, for the
purpose of paying its floating indebt-
edness, the holders of which shall be
entitled to receive out of the annual
net income of the company. or sur
plus accruing therefrom dividends of
IL per centum per annum, payable
semi-annually, and if the net income
of any year together with such sur
plus shall not be sufficient to pay said
dividends the same shall be cumula-
tive and shall be paid out of the net
income of any subsequent year and
any such surplus when available,
without interest, and such preferred
stock dividends shall be declared and
set apart or paid in preference to
and before any dividends are set
apart or paid upon the common stock.
In case of liquidation or dissolution
of the company the preferred stock,
together with all accumulated and
unpaid dividends thereon, shall be
paid in full out of the net assets
available for distribution to Z stock
holders at par before any payment is
made to the holders Of common
stock. The holders Of the preferred
stock shall in all matters be entitled
to one vote for each share of pre-
ferred stock owned by them. The
said shares of preferred stock shall
be first offered for subscription at
such price as the directors shall fix,
not less than par, proportionately to
the holders Of this company's COM
mon stock and their assigns ana to
the holders of this company's s per
cent. convertible deibentures due Jam
uary Is, 1913, convertible into4 stock
between January Is, 1928, and January
Is, 194S, then outstanding, and their
assigns, upon the basis provided in
said debentures, to wit, that each 500
of the principal amount of said de-
bentures shall be considered the
equivalent of one share of common
stock. Said shares of preferred stock,
or any part thereof, shall be subject
to call for redemption and retirement
on any dividend date upon not less
than 30 days prior written notice
given by mail to each preferred stock
holder and upon payment of $110 per
share and all accrued and unpaid div
lidends. If less than all the shares o.
preferred stock are called for, re
ldemption and retirement such proper
ton thereof held by each preferred
lstockholder shall be redeemed as the
total amount Of said stock called shall
bear to the total amount of preferred
stock then outstanding, but in deter
thinning such proportion all fractional
shares shall be disregarded and the
amount Of each stockholders pre-
ferred stock so to be redeemed shall
be the number of whole shares to
which his proportion entities him
At least three-fourths of the cash
proceeds received by this company
from any sale of securities pursuant
ITO the decree of the United States
court entered October 18th, 1914, in
the dissolution suit, as the same is
> now or may hereafter be modified
shall be applied to the retirement CT
said shares in amounts of not less
than 10000 shares, either by call fol
redemption as aforesaid, or by pur-
chase from the lowest bidder or bid
ders upon not less than 80 days prior
written offer to purchase given by
mail to each of the said preferred
stockholders. The directors of the
company are hereby authorized an6
directed for and in behalf of the
company to perform all acts and take
all steps in their judgment necessary
! or proper to carry out the purposes o.
this vote, and they are hereby vested
with full power and right to deter.
mine the time, manner and conditions
of the issue, sale and retirement %
! said preferred stock.
The old board of directors, conpos
. ed of the following, was reelected:
: +. Dewitt Cuyler, Philadelphia
. Pa; Edward Milligan, Hartford
, Francis T. Maxwell, Rockville; Johl
T. Pratt, New York; Howard Elliott
Boston. Mass; Arthur T. Hadley, Ney
: Haven; James L. Richards, Boston
> Mass; Augustus S.. May, Bridgeport
!, J. Horace Harding, New York; Ben
: 4 jamin Campbell. New Haven; Fran
W. Matteson, Providence, r. L; 10
seph B. Russell, Boston, Mass; 81
Whitney, New Haven; Harris White
more Naugatuck; Edward J. Pear
| SON, New Haven.
Switzerland will issue inmediate1