The Logan Republican. [volume] (Logan, Utah) 1902-1924, 1921-06-25

every such redemption shall be given
by publication thereof once a week for
three successive weeks In a newspa-
per OF general circulation published
in the state OF Utah, the first publ
cation to be at least sixty. days prior
to the said redemption d&y 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 Veeord' OF
such preferred shares as shown upon
the books of the company at least
sixty days prior to the date of said
redemption. From aud 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
as stockholders of the company, ex-
icept the right to receive the redemp
tion price, shall cease and determine
THE designation and calling of any of
said preferred stock for redemption
shall be in such manner as the
Board of Directors may determine be-
! fore such call.
| So long as any quarterly dividends
have not been passed or unpaid the
holders of said preferred stock shall
have no voting power on any ques-
tion, except as hereinafter otherwise
provided; but when two such quarter
lily dividends are unpaid then and
thereafter until all arrearages of di-
vidends shall have been paid on said
preferred stock, the holders thereof
shall be entitled to vote said stock
at meeting OF the preferred stock
holders of the company. which shall
be called on twenty-one days notice
by the officers of the company or
the holders of at least Ten Thousand
lno''ors par value OF said preferred
stock, and TO elect two members of
the Board of Directors of the COM
lpany 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 to expire upon the quail
fication of said two members so elect
, ed by the preferred stockholders. In
the event the board of directors shall
fail for a period of ten days, to
!, designate the members to retire, then
the two members who may have been
designated by the preferred stockhold.
. ers at such meeting or by commit
tee of such stockholders appoint.
| led at such meeting, shall re-
tire upon the qualification of the
1.-TWO members so elected by the pre-
ferred stockholders. After the pay
: ment of all arrearages of dividend!
the exclusive voting power shall b'
| returned to the holders of the com
5 mon stock; and new directors in lier
I of the directors elected by the holder!
= of said preferred stock may be elect
{ cd by such common stockholders a
@ IA meeting which shall be called b.
o the officers of the company or tn,
: holders of at least Ten Thousand
s Dollars par value of said common
o stock and upon twenty-one days no
!, tice thereof to the stockholders b.
~ Tue OluCtTS VI tue COillpdHy VI SdN
y common stockholders.
y That no other or additional stocl
d having equality with or preference o
l. priority over the $50O,000.00 pa
II value of said preferred stock, eithe
y as to payment of dividends or dis
y tribution of assets or in any other re
If lspect shall be issued without the con
l. sent given in writing or at a meet
" ing of at least seventy-five per cen
,r in amount of the eight per cent cum
lie ulative preferred stock then ou
* standing exclusive of any amount
l, acquired by the company or held fC
1, retirementD and unless the ayerag
lie net earnings of the company apple
10 able to the payment of dividends fC
y the three fiscal years preceding I'll
n date of the proposed Issuance of sue
rs other or additional stock shall hay
Id been at least three times the amour
T. required to pay the dividends upo
Ill the said preferred stock then on
ne standing and upon the other or add
Mt tional stock then proposed to be i
TX sued 80 .,
I'd From time to time the preferre
I'd and common stock may be issued
le1 such amounts and proportions 1
ny shall be determined by the board I
II directors and as may be permitted
e. the law.
of 4. To amend Article Eight by az
d. ding to the said article. as II no
IL stands, the following provision:
he Meetings of the directors may
I'll held, for the transaction of any bus
IL ness OF the corporation, at such plat
al outside of the state or elsewhe
rs within the state, than at its prime
u, pal office, as the directors may,
be resolutions or bylaw, provide.
Ir- The board of directors shall ha'
NJ power by resolution passed by M
We jOrity vote of the whole board,
er designate not less than three n
i'd more than five of their number
re constitute an Executive Committe
OF which committee shall for the tin
We being, as provided in said resOlutlO