New-York tribune., 1920-06-24
MEETINGS
MOUNT VERNON. N. T.,

MOUNT VERNON. N. r.
June 18TH. 1920.
A special meeting OF the stockholders Of
viii be held on on the lst day Of July. 1870
at l. o'clock A. NJ, at the office OF such
tHbomSany tbs H =; Ne %o5s 2ss Washngson Street in
the following purposes:
J. For the purpose of considering and
voting upon proposition to increase the
capital stock shall be divided without
thereby increasing the amount Of such
mon capital stock shall be divided into
1000 shares OF the par value OF $50 each
T. For tho purpose OF considering and
capital stock from 100000. consisting OF
5000 shares res Of tho par value Of 500 each
the value 90 Of 500 each he 'prss
preferred stock). and $4,000 shares OF the
par value OF $50 each.
voting upon proposition to redeem and
retire, pursuant to the provisions Of tho
Csrtiheate Of Incorporation of this Gem.
preferred stock of the corporation. and 10
reduce its capital stock by the full amount
the present preferred capital stock Of tho
par value OF 500 each. and to eliminate
from tho Certificate OF Incorporation ty
proper amendment all provisions for pref
erence OF said present preferred stock in
Guiding all sinking fund provisions. for
4. For tho purpose Of considering and
common stock and cumulative partic,pat-
crease Of pital stock Of said Company
amounting ., to s2.1bo.ooo, so that *o6o 900
tnere0f 1ne oSd Ss1 shall be common stock ana 81
preference shares. said cumulative par
tictpating preference shares to be entitled
mon stock subst antially as follows:
(A) Out Of tho surplus or net profts
arsing from the business Of the corpora =
ing preference shares shall be entitled TO
receive fxed minimum dividends at the
H st aps o
May and August and of November in each
year from tho quarterly dividend date
issue OF each share thereof. unless such
stock shall be issued on quarterly divi-
dend date, and In such case from such
c'ared or paid upon or set apart for the
common stock and the principal or par
preference shares with accumulated fxed
minimum dividends thereon shall be paid
in full in preference to the common etoc *
Company whether through insolvency or
the termination Of its corporate existence
1snS or sso rn. nIsd
preference shares are to be cumulative. 30
that II for any period or periods tho sam
shall accumulate as against the common
stock. and all arrears thereof so accumu-
latod must be paid before. dividends can
be commenced resumed on tho oom-
qSsrt.T 1n s'oss year II any s Of
At the rate OF $500 per share pcr annura
and all. cumulative dividends on the
cumulative participating preference shares
the holders OF common stock shall be
lative participating preference shares 10
all proits distributed as dividends up to
$500 per share per snnum 6nn on the'T
aggregating $500 per share shall nave
been paid on the common stock II 1t be
desired by the directors to pay, out any
profits in furth dividends. the holders OF
cumulative participating preference shares
shall be entised lee to avidends ,,fs up to the the
such calendar year, but all profit which
may be paid by way OF dividends In any
whoy apon shs eoT %
(B) So long as any cumulative partici
pating preference shares shall be outstand q q. .
Ing they shall be entitled to the benefit
Of a sinking fund to be created. used ana
applied In the purchase and/or redemption
of such stock as follows:
or before April LIST Of each year thereafter.
the Board Of Directors shall cause the net
profits Of the corporation for tho next pre-.
depreciation and Federal, State and other
taxes of every description, to be ascar-
tained by audit of certified public &C
selected by the corporation, and after de-
Quoting from such net profits the amount
Of al accrued dividends on the cumula, ,
tive particf pating preference shares. and
II and when said accrued dividends shall
have been declared and paid, or declared
cent cent (5s5 Of tho balance Of such net net
profits shall Con or before such April y be
credited to or set apart as sinking fund
(2) The amounts hereinbefore required
TO be set apart for and credited to, the
sinking fund. shall not be made tho basis
distributed among the stockholders. nor
shall any such amounts be depleted or used
n any way which would interfere with
quired. No increase in the corpora ton 8
surplus growing out OF any purchase.
redemption or resulting reduction of cumu-
lative participating preference shares shall
pe available as a basis for dividends pay
able otherwise than IN Common stock or
long any cumulative participating pref
erence shares shall be outstanding
o. %} me funds , set Apart for or credited
chase and/or redemption OF the cumulative
participating preference shares as herein
before provided shall be used and applied
in the purchase OF such shares as herein
before REQUIRED. at any time on before
Dollars sa s5 pef in sbsT
accrued dividends; and thereafter at prices
not in excess of Seventy Dollars (s7o) per
share plus accrued dividends. II at any
time the par value Of such shares shall be
increased diminished the maximum
prices fixed in the preceding sentence shall
as the case. may be.
Such purchases shall be made in the fol-
lowing manner:
The Board Of Directors not more than
fifteen Q5) days after the first day Of
April, 1921, and not moro than fifteen
N5} days after the first day of April in
each year thereafter, X there be funds sat
apart for or credited to tho Sinking Fund
applicable to the purchase andIor redemp-
ence shares amounting to Five thousa nd
dollars ($5,000) more, shall direct the
Treasurer Of the corporation to request
sealed offerings Of such shares from the
holders thereof. and to accept for pur-
chase and retirement such shares at the
lowest prices at which such shares shall
be offered. not exceeding. however. the
prices above mentioned. so far as The
funds set apart for. or credited TO, the
Sinking Fund applicable to the purchase
or such shares may permit The corpora
going provisions and to the Statutes of the
State Of New York purchase any cumu-
lntive participating preference shares and
tender any such shares SO purchased In
competition with the tenders Of other
Of