Evening journal., 1920-08-16
NOTICES

(25 per cent Of such par value, plus
In either siso all accumulated dividends
thereon.
Except as above provided, no dividends
shall be declared or paid on the Prior
Stock and Il shall not otherwise par
ticipate In the profits Of the corporation
(cl The corporation may on any aifl-
dend date redeem all, but not less ihah
all. of the Prior stock az any time ort
standing by paying 10 the holder "i /
holders thereof the sum Of one Hundred /
Twenty Dollars lSi25l per share, 70 /
gethcr with the amount OF all diNlaenns
accumulated thereon up 20 the date hNea
for such redemption. Notice OF such /
redemption shall be given by mahink /
copy thereof 10 each holder OF RECORD on
such stock NJ his address az the snme
shall appear on lle books OF the cor
poration at least sixty days prior 20 the
date fixed for such redemption, ana niHu
by publishing such notice once a week
Tor four successive weeks, the hrrt pun
hration 10 be not less than sixty Gays
prior 60 the date fixed for such reirinp-
tiOn, IN n newspaper Of general citeuld
ton printed In the English language anu
published in Milwaukee,, Wisconsin, anu
! In "A newspaper Of general circulation
/ printed Ia the English language ana pun
/ lishcd IN the city OF New YORK, \, l.
/ Such notice having been duly given, from
/ and after the date nxed therein ~ tht
4 date of redemption, unless default shall
be made by the corporation IN proNinlhs
/ moneys for the payment OF the redcmp-
/ tion price, all dividends on the fflei
/ stock shall cease and all rights OF N
holders thereof as stockholders of the
corporation. except the right to recelN'
| the redemption price without Interest
shall cease ana determine
(d) SO long as any Prior stock shall
be outetandine the corporation snAi, y. ~,
or before each dividend date set apar,
for and credit 20 sinking funi' en'
/ OF any earnings or profits Of the cor
poration % and as there ns hnS a. on, IN
the Prior stock questerly install,
ment Of Thirty seven Thousand lNlh" ny
Hundred Dollars lf3I.o00l. such insta',
mcnts shall be cumulative, PROVIDED
| however. that The aggregate amount ~
any one time to the credit Of the sinking
Fund shall not exceed the 'snm OF vnf
Hundred Fifty Thousand Dollars sloo''
oOol.
As each quarterly instailment is set
apart for aud credited 70 the sinking
fund. II shall be applied 20 the rur-
chase Of such Prior Htock ns may ne
offered 60 the corporation, or rs " mas
be able 20 acquire, at price het ~, ~
ceeding One Hundred ana Five bo,Ai =
lS1ONOOl per share and accumulated NV
dends. and each such quarterly nm"nn'
shall be held. subject 10 such apt 'cn
tion, for period of twelve mVn'ns. ,
Aay such offers shall be acccrted w
! the Corporation In the order or priority
In which the same are made ana ohN
90 the extent that there arc ht ln' ,t.,..s aans
Of the ofer funds in such Slnhins WV NV
I suiilcicnt 90 pay for such stock nt hv,
? tn exceed the price aforesaid. hl eu'n
offers accepted by the corporation shaN
be applied against the quarterly netnii
mcnt then longest In the sinsme ,,,a,,
? In 10 far as any quarterly instaune
: shaii not be- exhausted by the apphcn
! tion thereof 90 the purchaee OF ~ ,
stock an above provided within the r',"v
I of twelve months from the wv, ~
I the same was set apart and rre'ii'Nn 7.
Z the sinking Fund, the same shnii ,sns, ,s,n,
10 be held as n part OF said NlnN,nl
Fund and shall become part OF wv
p general funds Of the corporation
No dividends shall be declared or phl,
unon ar sct apart for the Common SO,
In there be any pending default IN ~
setting aside or crediung 60 the Hlhhini
Fund Of the fun amount of any quar-
r teriy instnllment.
tel No additions, extensions improve
:. ! monts or bcttcrments Of the Hhht u
y | property Of the corporation SHAH he pau
y ! for or financed out of the earnings -
Y the corporation for the then current ca,
II cndar year, u 90 the q. any ,,ss =
y mcnt of cumulative dividends, regniar o.
a ertrn. upon the prior Stock shall he y
4, arrears, or " there be "a; pendins 81.
"A fault In thu setting aside or rtculNnk ,
the sinking Fund OF the iuN H"''''''
installmcnt In each quarter ,, .
40 No dividends shall he declared =
q ! maid upon or set apart Tor the tohlnlu
1, Stock N the declaration seitnk npas,
or payment OF tuHn utftuN 49,. ~,
reduce the net tangible assets et the w
q. poration 10 IA amount less than nv,
Hundred DOLLARS (S3oOl Tor each ahul
% Of Prior stock then outstanding 49,
The term met tangible assets, ~ us,
i, ,r thte pararraph 10 shall 1e deem'
to be the sum Of the pr,pertY accoun
~ Investment account, sinking tunu, qn'
k assets and all other assets leNOi.,s,i a
Ia good will, patents tMsaae. M lhsr,,es nm
u, other items of q similar chhractcrl. ie
m Inc sum or funded indebtedness oI "
Ia corporntion. purchase money opltN ~,
a reserves and the interest OF minorli
IN etorkohtdars IN an corporations Pug
~ ioritv OF whose capital stock IL oNnt
a. by this corporation and includlns . IN ~,
r raae the assets and liabilities OF cofpoH
A. tione majority Of whose stock
At owned by this corporation hnu w VIZ
al assets and liabilities are cnnsehIAt.u
~ the Balance Sheet. ProNldea tns' 49, ~
al the purpoac OF so determining net thl
vible nssofs the stock interest OF the 81
he marathon In The Milwaukee Coke ~
u. Company 10 the extent oi ~ hn,V'u, ~.
~ therein as Of July !, lN@ui shah pe q"
fet The bonds which tho corpornuf
M Il nrcsently ntiticd 20 have ISSUED -
I'M ameuntinr 10 one Million Five hunnf,
Thousand Dollars tSl,noouuol unutl
n existing mortgage dated seplemptt
~ teio from The Newport Company
n- The Flrst Trust and Savings tompah
ne NAV b. issued az any time; but netn
-e. the said bonds nor the proceeds thete
ee shall he used for any purpose otn
ne thsn The ACQUISITION by the corporate,
an ~ additional property. as hereinafter
ar Gncd hut not including corporate stoc'
z. No part Of the expenditures maui
b. of the proceeds OF such bonds or
" prior Stock shall 50 long as any
IN tbc prior stock Il outstanding, pe us
aii ~ the hnsis for an increase 20 the iunu
Ie- debt Of the corporation as OF july
m, Bonds m. at any. time be issu
Of nv the corporation TO refund the non
I'M now outstanding under salu .N's,n ~,
IN mortgage or an nohas "ll.n l,,,r.f ~. f,on
va nfter be issued by the corporation
In rnnformitv with the provisions ana
20 strictions herein contained ana ~ W
at any time issue additional nehas,
VI secured notes, or create adaltionaa iun, i.,,
ar indebtednesE or authorize % pc l9.i
he an issue or issues OF preterfen ~,
vs other than Prior stock In such ah'"u
I'M or amounts and upon tuch terms ~
he with such privileges preieIeil'es ,ro,.id ",
on critics MS n may determine, proNss,
he only that the aggregate par anu or pa
N on,ount of such additional bonds, SCI ur
10 notes. funded debt. and preferred SO
n NV 81 NE ~rior stock shall be o.
for stsndinr shall not exceed two thlI
m f9-al ~ the cost Of additional proper
nv hereafter acquired exclusive OF such :
aid ditional property " ~ prior sto,
ne. cr or" Of che one Million Five Huner
IN ,rhousand Dollars tSl 5O0.OoOl ~
80 ..,.,,,nt ~ bonds which the corporate
ar. ~ entitled 10 have issued under
re-, nrovisions contained ia sub division
uf- Of this article OF any investmentt
ala / such procecds or any part thefeoi.
~ adattionai nroperty as the term Is ns
NE &, tbis article is defined TO mean
So reai estate or any interest therein,
zen permanent additions 70 the plant ,,d. 81 .,
vi corporation, all permanent pes.y,,n, ,',,ht,
the Including replacement OF ola oulu'"