The Logan Republican. [volume] (Logan, Utah) 1902-1924, 1921-06-28

OF the par value thereof, Together
with all accrued and unpaid divi-
depds thereon. except In the case OF
LIQUIDATION. dissolution or winding up
which is partially or wholly the re-
suit VI voluntary action on the part
OF the holders of O majority or more
of the common stock. there shall al
30 be paid to the holders of said pre-
fefTed stock the further sum of. One
Dollar per share before any sum shall
be paid OF distributed or any assets
applied upon the common stock. The
holders OF said preferred stock shall
be entitled TO subscribe for any ad-
dit!onal or increased preferred capt.
tai stock Of the company which may
at any time be issued, pro rata with
the common stockholders, but shall
not be entitled to subscribe for any
common capital stock which may at
any time be issued.
That the company may redeem said
Ishares of preferred stock or any part
thereof on any dividend payment date
by paying in cash therefore the sum
OF Eleven Dollars per share and the
dividends accumulated to the date
fixed for said redemption. Notice of
every such redemption shall be given
by publication thereof once week for
three successive weeks In a newspa-
per of general circulation published
in the State of Utah, the first publi-
cation TO be at least sixty days prior
1 TO the said redemption day and a
written notice of said redemption
shall also be deposited in the United
States mail duly stamped and ad-
dressed TO the holders of record OF
such preferred shares as shown upon
the books of the company at least
sixty days prior to the date of said
redemption. From and after the date
fixed in any such notice as the date
of redemption, unless the company
shall fail to provide sufficient monies
at the time and place specified In
'such notice for the payment OF the
redemption price, all dividends on
such preferred stock thereby called
for redemption, shall cease to accrue
and all rights of the holders thereof
rs stockholders of the company, ex-
cept the right TO receive the redemp.
ton price. shall cease and determine
The designation and calling OF any OF
said preferred stock for REDEEM D tion
shall be In such manner as the
Board of Directors may determine be,
fore such call
So long rs any quarterly dividends
have not been passed or unpaid the
holders OF said preferred stock shall
have no voting power on any ques.
ton. except Us hereinafter otherwise
provided; but when two such quarter,
ly dividends are unpaid then and
thereafter until all arreaTages of dl,
vidends shall have been paid on said
preferred stock, the holders thereof
shall be- entitled TO vote said stock
az a meeting of the preferred stock
holders OF the company. which shall
be called on twenty one days notice
by the officers OF the company OF
The holders OF at least Ten Thousand
Dollars par value of said preferred
stock, and To elect two members oil
the Board of Directors OF the com
Dany IN lieu of two members of the
Board OF Directors OF the company
as then existing. The Board Of Direc,
tors of the company, as then exist.
ing, shall within ten days after no
tice OF the election of two members
Of the board by the preferred stock
holders as above provided, designate
the members of the board whose term
Of Office Is 20 expire upon the quali-
fication OF said two members so elect
ed by the preferred stockholders In
the event the board OF directors shall
fail for period OF ten days. TO
designate tiJa members 10 retire, then
the two members who may have been
designated by the preferred stockhold-
ers at such meeting OF by a commit
tee OF such stockholders appoint
ed at such meeting, shall re-
tire upon the qualification 81 the