Echo de l'ouest. [volume] (Minneapolis, Minn.) 1883-1929, 1920-05-07
CERTIFICATE OF AMENDMENT
CENTRAL SJPPLY COMPANY

CENTRAL SUPPLY COMPANY
The undersigned, P. ]. Frey and
George A. Michel, do certify that we
are respectively the president and Sc
cretary of Central Supply Company, a
corporation organized and existing
pursuant to the. laws Of the State Of
Minnesota, and as such officers, we
certify that at a meeting of the stock
holders of said corporation, held on
the 23rd day Of April, 1920, at 1926
o'clock P. M, at the office of the cor
poration, No. 312-314-316 Third Street
South in the City of Minneapolis,
Minnesota, the resolutions hereinafter
set forth providing for the amend
ment of the Articles of Incorporation
of said Central Supply Company were
then and there, at said meeting, duly
adopted by the unanimous vote Of all
the stockholders and shares of stock
then present and represented. That
said meeting was an adjourned meet
ing of a special meeting of the stock
holders of said corporation, duly called
and held on the 10th day Of April, pur-
suant to notice duly given calling said
special meeting, and which notice ex-
pressly stated that at such meeting
or an adjournment thereof action
would be taken to amend the
Articles of Incorporation of said
corporation in the manner here
inafter stated. That at said adj
journed meeting there were present
in person or by proxy stockholders Of
said corporation owning and holding
twenty-three hundred and sixty-two
(2362) shares of the capital stock Of
said corporation, being all of the
shares of the issued and outstanding
shares of the capital stock Of said cor
poration. That said resolutions are
in words and figures following, towit:
BE 1T RESOLVED, that Article
III of the Articles of Incorporation Of
said Central Supply Company be and
the same is hereby amended so as to
read as follows
ARTICLE III
"Sec. 1. The amount of the capital
stock of this corporation shall be One
Million $4,000, 900, OO) Dollars, to be
divided into ten thousand 100000
shares of the par value Of One Hun
|dred ($100.00) Dollars each, and Ito be
paid in at such times and in such
amounts and manner as the Board of
Directors may prescribe, of which ca
pital stock five thousand $4,000
shares shall be preferred stock and
five thousand (5.000) shares shall be
common stock.
"Sec. 2.-The holders of preferred
stock shall be entitled to and shall re-
ceive from the net profits arising from
the business of the corporation a fixed
yearly cumulative dividend of six per
cent 6 p.c.) per annum and no more,
in any calendar year, payable quarter
lv after date of issue, in equal INSTALL
ments on the first days Of March,
June, September and December of
each year, commencing on the first d.
vidend day after issue, before any di-
vjdends shall be declared, set apart
or paid on the common stock; so that
if, in any year, dividends amounting
to six per cent (6 p.c.) shall not have
been paid thereon, the deficiency shall
be payable before any dividends shall
be paid upon OF set apart for the COM
mon stock.
"Sec. 3.-After the accrued di-
viderds on THE preferred stock have
been paid, the common stock shall be
entitled to all the remaining net
earnings of the corporation.
"Sec. 4.-This corporation reserves
the right and option to purchase, re-
deem, retire or cancel said preferred
stock, in whole or in part, by
order of. it's Board of Directors,
on any dividend day, by paying
the holders thereof one hundred and
two ($102.0O) dollars for each share
of such preferred stock, together with
any accrued dividends due thereon.
Notice of such redemption shall be
mailed to the record holders Of the
preferred stock SO to be retired, at
their last known p%ostofice addresses,
as shown by the books Of the corpo-
ration, at least thirty (30) days be-
fore the date fixed for it's redemption.
"Sec. 5.-Certificates representing
the shares of stock so called for re-
demption shall be deposited within
said period Of thirty (30) days with
a responsible depository at Minnea-
polls, Minnesota, to be designated by
the corporation for that purpose,
where payment for such shares shall
be made land payment at the office Of
the designated depository of the
amount necessary to redeem such