Evening journal., 1920-08-02
NnTIcEs

or distribution be voluntary, further
amount equal to twenty-five per cent
l21 per cent? Of such par value Plus
In either case all accumulated dividends
thereon.
Except as above provided, no dividends
shall be declared or paid on the Prior
Stock and it shall not otherwise par
ucipatc iu the profits Of the corporation.
(c) The corporation may on any diNl-
dcnd date redeem All. but not less thhu
all of the Prior Stock at any time ort.
standing by paying 10 the holder or
holders thereof the sum Of One Hundred 4
Twenty Dollars (Sl2ol per SHARE to- /
rethcr with the amount OF all DIVIDENDS
accumulated thereon up TO the date hhea
for such redemption. Notice OF tuch /
redemption shan be given by mailing q !
copy thereof 90 each holder OF record on
such stock az his address as the same
shall appear on the books or the cor
poration at least sixty days prior @ ,ne
date fixed for such redemption, and also
by publishing such notice once week
Tor four successive weeks the htei pun
lication to be not less than slAtl Gays I
prior 90 the date fixed for such rciHmp-
tlon, In a newspaper Of general cittnlAi
tiun printed In the English lauEunse hhu
published in Milwaukee. Wisconsin. anu
in newspaper OF general circulation
printed In the English language and pun
lished In the city of New York \, i,
Such notice having been duly given, from
and after the date Fixed therein rs ih,
! date Of redemption. unless default enAu
D IN nNMN NA NNN NNINNNHAiNM NN NH'
moneys FOR the payment Of the rcdemp-
+ tion price, an dividends on the frlor
stock shall cease aud on rights OF ~
holders thereof as stockholders or the
l corporation, except the right 20 recoiFe
the redemption price without iu'e'eS"
/ shall cease aud determine.
(dl SO long un any Prior stock shall
/ ho outstanding the corporation thah IN
: or before each dividend late sou "l.a,t
/ for and credit 10 "a sinking funi on'
Of any earnings or protts OF tine cor
poration az and as there be any Nit
payment of the cumulative diyidenus On
the Prior Stock quaftrfly ihstin Nv.
mcnt Of rhirty-scgen Thousand liNxe
Hundred Dollars (S37H0ol. Such install
mcnta SHAH be- cumulative, provided
however. that the aggregate amount Nv
any one time TO the credit OF tne sin.,ns ~,
Fund shall not exceed the sum OF Vn'
hundred Fifty Thousand Dollars 'Sloo'-
As each quarterly installment Is set
apart for and credited 10 the ohklnH
Fund, it shall be applied TO the Pur.
chase OF such Prior stock as may pe
offered TO the corporation, or rs II may
be able 20 acquire, az price net 80 -
ceeding One Hundred and fl,e bola,si7 W.,
(SiO5 00l per share and accumulated NV. NV
dcuds and each such quarterly nm"uue
shall be held, subject 20 tuch hpl ~
ton for n period of twelve moninNe ~
Any such offers shall be accettetn ~
the cornoratiOn IN the order OF ptiurnl
In which the same are made aud nhll
To- the extent that there are nt the tuns
of the offer funds In tuch Nlnh,ht un,it .,,.i
sufficient 20 pay for such STOCK az ,as,. nS.
to exceed the price aforesaid. All sucn
oners accepted by the corporation sntl
he apniicd against the quarterly nelhN
meut then longest In the sinking Nhu..
In 40 fnr as any quarterly lhA.hii,i,,t,.n' H..
ahntl not be exhausted by the apnhse
zion thereof 10 the purchase OF tu1s
stock aH above provided within the petien
of twelve months from the time v, W. ,o
the Anmc was set apart ana ctt'nNeu 49, y.
the sinking Fund the same 80 T Ts,nkinr
10 be held nH part or haiu olesN., ,e..
Fund and shall become a part OF INV
general funds Of the corporation. -.
No dividends shall be declared or phl,
upon OF set apart for the so,ni," sl,i, A. ~,
setting aside or creditinT 60 the olnhlnt
rund OF the full amount OF any quar-
I terly installment. ,.-o..
fo No additions, extensions, improve
. ,,cots or hettermenta OF the plant o.
y nroperty Of the corporation hhail ne p"l
for or financed out OF the cafhlhka
2 the corporation for the then curtent ~ ~
= endnr year. " nt the I'm any g.,.,s, -
2 / extra. upon the Prior Stock shhii pe. y
q arrears. or N there be an pcndlnk us
!, fault M the setting aside or Sreallnk y
the Sinking Fund OF the iuh Pu"''''
installmcnt IN each quarter. . .
"a No dividends shall be declared =
maid upon OF set apart for the tomhu
!, stock IL the declaration. setting ava,
y on payment Of such dividenae M"u.
reduce the net tangible assets on me 49, 90,
norstion 10 an amount less than Ihre
b Hundred Dollars iS300l for each shai
, Of prior Stock then outstanding -
. The term met tangible assets, ~ use
a. In this paragraph q. rty snaii ye accom- eso
D.. investmont nccount. sinking fund, qnlo
y | assets and all other assets teAciuul,n
IA good WILL patents, trade-nAineei u ~ =. !,
e marks, copyrights, deierrs1 .,io yn1 racter1 ie,
!. me sum OF funded indebtedness OF ~
y, rorporation. purchase money obhgatl2h
y / ouick liabilities. depreciation anu wi,
4 reserves and the interest el ~
4, stockohiders In all corporations, mt
~ ioritv OF whose capital stock lh oNne
~ tfts rorporatiOn and including IN eae
:. case the assets and liabilities OF sorp n
1. tions, a majority or Mho7e ,.ho.
>, owned bv this corporation ana Mn's
N osscts and liabilities are consohdhieo
~ No Rniance Sheet Provided that 70
"A the purpose OF so Determining ~ "a, ~
eihle assets the stock interest oi 1ne ~ ~.
h. poratlon In The Milwaukee Coke -.
y ronnnav 10 the extent of its holnlhl
n therein as Of July /, 1920, shan pe Gu
Ia culated az its par value. .-..o..,,o
fgl The bonds which the crpl, corp9rs.s'' y,
b, is presently entitled 20 have issned 20 81.
~ amounting 10 One Million Five huun1.
p" Tbonsand Dollnrs (Si500,O00l under II
/. erietinr mortgage dated september
" 1910. from The Newport company RI,
y frhe First Trust and Savings Sompatn
y ~ nav be issued at any time; but neith'
i the said bonds nor the proceeae 1net,s
,e shall be used for any purpose ~. ~ ~
,e thnn the acquisition by the corlola'i,, orlla :,
M Of additional properly, AZ ',,.,te steel,
y N mart OF the expenditures mace OF
~ the proceeds OF such bonds or
- prior Stock shall. 80 long as any
IN the Prior stock is ontstaheint, s,rs,
O.. "A fUrruunu 10 the IuNNt
c' dcbt Of the corporation as or JulS
u M bonds may at any time be ISSUE
nf bv the corporation 20 retund tue 49, ~,
N, nov, outstanding under said eAisll
a., norteaee or ar bonds which may her
~ after be issued by the corporation
In conformity with the provisions anu
"a | strictions herein contained, anu ~ "'
nj any time issue additional penns, sl
4 sccnred notes. or create additional funu'
a. fndebtedness or authorize 70 De lesr
be an issue or issues Of preferred ato
vs. other than Prior Stock In such aln"u ~,
In or amounts ana upon sea,-a,sce ~ ti
ne with such privileges preIerenees Or ot NJ
nn oritiee as h may determine, prov ~
he only that the aggregate par ahu Ia ora or ~,
A. amount OF such additional ppnue, setua ~
IL. notes funded debt, and preferred ~
\, ,bicb shall hereafter be Issued WI
N env OF the Prior Stock shall De ou
'or standing shall not exceed Two @ thll
M fa-a1 Of the cost or addiuohhi plnN0.
nv hereafter acquired e1ciusne ,rouir
III ditionni property as may ne ac,les. ~.
~ with the proceeds Of the Prior stoe
10. or Of the one Milion, EiSS eao ooop N
81, Thousand Dollars N,oVoVuol ~
'or smount Of bonds which the corporal,
,r r. entitled 70 have issued under
re-. provisions contained in sub division, \
,f- Of this article, or any lnVestlaenss
IA snch proceeds. or any part thereoi.
~" kddltlonai property as the term Is US
IA an fhis article is defined 70 mean
ie- real estate or any interest therein {
t' 10. .--..t .ddffloua 70 the plant "