The Ocala evening star. [volume] (Ocala, Fla.) 1895-1943, 1921-11-16


Co Ten thousand Shares OF
! The first preferred stock shall be en-
titled 10 dividends out OF the net pro-
nts or surplus OF the corporation at the
rate OF eight Isl per cent per annun
andvno more, payable semi-annuaIly on
the first days of January and July in
Sach year. or otherwise determined
and declared by the board OF directors.
before any dividends shall be paid on
the second preferred stock or ON the
common stock; any first preferred
i stock issued between dividend dates
and any moneys or property received
prior TO the first or any other dividend
/ date for which first preferred stock is
TO be issued. shall be entitled at the
/ next dividend date TO a proportionate
dividend; and in the event of nQuida-
| tions the first preferred stock shall be
entitled TO payment out OF the assets
| OF the corporation at its full par value
plus all accrued dividends, before any
payment snail be made to the holders
i of the second preferred stock or OF the
common stock The first preferred
stock shall not receive any further
share in the profits or the assets of the
| corporation than as above provided.
The dividends upon the first preferred
stock shall be cumulative, SO that If
| the corporation shall fail to declare
| and pay any first preferred dividend,
| such dividend shall thereafter be de-
ciared and paid before any dividends
| shall be paid upon the second preferred
stock or upon the common stock The
I first dividend on the first preferred
stock shall be payable January 1st,
The first preferred stock shall only
be entitled to vote upon the following
propositions and under the following
conditions, and not otherwise; (a) on
ter; OBJ on any proposed consolidation,
i or any proposed sale, lease or exchange
of all the property and assets of this
corporation as an entirety including
re-
(c) on any proposed retirement of any
outstanding second preferred stock;
I'D on any proposed dissolution OF this
corporation; and no such amendment,
consolidation, sale. lease or exchange
or retirement or dissolution shall be
authorized, made or accepted without
/ all the outstanding first preferred
stock in favor thereof; and Ce) when
ever this corporation shall fail to pay
full dividends on the first preferred
for one year, the first preferred stock
shall then be entitled to full equal vot-
other outstanding stock, until all such
unpaid dividends shall have been paid
in full
The corporation, at its option, may
retire in whole or in part any out
standing first preferred stock after
! thirty GOD days notice mailed to the
stockholders last known address, at
lany time and in any manner and in any
-.
determined by the board of directors,
at the par value thereof plus all &C
, crued dividends thereon plus a pre-
MUM il retired prior to January LIST,
1927, of one per cent of the par value
, thereof for each year or fraction of a
year between the date OF such retire
ment and January LIST, 1927; all such
: first preferred stock retired shall
forthwith be cancelled and shall then
: have the status of authorized but un-
, issued first preferred stock.
Payments to holders of first pre-
ferred stock of dividends or in redemp-
ton, liquidation, dissolution or wind
ing up, shall be made free from taxes
(other than income taxes in excess of
: the normal tax (now per cent? which
r the corporation may, under any law OF
+; 1.-THE United States or Of any state, coun-
/ ity, or municipality therein, legally as
The second preferred stock, after
payment of all current and accrued
. ldividends on the first preferred stock,
; shall then be entitled to dividends out
of the remaining net profits or surplus
. of the corporation at the rate or six
: lper cent. 6 per cent? per annum, and
q Inc more, payable semi annually on the
FIRST DAYS of january and July in each
. lyear, or as otherwise determined and
declared by the board of directors, be-
J, fore any dividends shall be paid upon
the common stock; any second pre-.
. Iferred stock issued between dividend
a dates, and any moneys, property OF
: services, received prior to the first OF
2 ond preferred stock is Issued, shall be
entitled, at the next dividend date, &c
: a proportionate dividend. The second
;, preferred stock, after payment OF dfvi.
8 dends on the first preferred and
{ isecond preferred stocks, as hereinbe-
u fore provided. and after payment to th'
4 common stock of dividend OF ten pei
cent. in any one year, shall also par.
: Iticipate equally with the common stoci
in any additional or increased dividend
- paid the latter~up to, but not In excess
:, of, four per cent additional Tor Una
. year.
= In the event of liquidation and aftel
payment of first preferred stock a.
d aforesaid, the second preferred stocl
: Ishan then be entitled to payment, GU
g. Of the remaining assets Of the corpora
N ton, of its full par value Plus ali &C
e crued dividends thereon, before an!
% payment to the holders OF comno,
n stock The second preferred stocl
n shall not receive any further snare u
Is1 the profits or the assets OF the corpora
N ton than as above provided. The olvi
% dends upon the second preferred stocl
= shall be cumulative, so that IL the cor
4 poration shall fail to declare any sec
4 ond preferred dividend, such divideni
:, before any dividend shall be paid OF
a the common stock The first dtviden
- ON the second preferred stock shall D
a payable January 1st, 19Zz-
70 The corporation, at its option an
~ subject to the approval or tWo-tnlrd
N of the outstanding first preferred stoc
- las hereinbefOre provided may EellH
20 in whole or in part any or all secon
Ipreferred stock after thirty (SO) DAY
al written notice mailed to the stock
holders last known address IN an
to amount and in any manner as may Q
- determined from time to time by tn
- board of directors, at the par ya1u
e1 thereof plus all accrued dividend
= thereon plus a premium IL retired pr1o
10 to January 1st, 1927, of two per cen
a. q per cent? of the par value tneret
= for each year or fraction OF year Dc
- | tween the date of such retirement an
&c January LIST, 1927, and on the quesuo
- of such retirement no second preferre
= stock proposed TO be retired shall.
Iyoted All second preferred stock sna
. lforthvfth be cancelled and shall the
- have the status of authorized but unas
- sued second preferred stock
PAYMENTS to holders OF second pre-
IA Iferred stock OF dividends or In redeml
~, tion Huuidation, dissolution or vino
q ing mn. shall-be made free from take
= (other than income taxes IN excess
'N' the normal tax Cnow per cent? Wnie
- 1.-THE corporation may, under any law
- the United States OF OF any star
or county or municipality therein legah
,et lassume and pay.
AT any time prior to January II
-va l1g27, any first preferred STOCK OF se'
.s. ond preferred stock may WHO
On lcharge be exchanged Tor an ecu
- Iprfyilege may be exercised up 70, o.
"a not later than, the date named IN ar
- notice by the corporation OF sts 1nte1
tSon 10 redeem any or all OF any SUE
III Inreferred stock or stocks The corpo
A. sation ShaU at all times hold uniSSu'