The Logan Republican. [volume] (Logan, Utah) 1902-1924, 1921-06-23

OF Eleven DOllarS per snare ana the
dividends accumulated to the date
fixed for said redemption. Notice of
every such redemption shalt 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 publi-
cation to be at least sixty days prior
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
as stockholders of the company, ex-
lcept the right TO receive the redemp-
ltion price, shall cease and determine
THE designation and calling Of any of
lsaid preferred stock for redemption
lshall 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-
ltion. except as hereinafter otherwise
provided; but when two such quarter
lily dividends are unpaid then and
Thereafter until all arrearages of di-
yidends shall have been paid on said
lpreferTed stock. the holders thereof
lshall 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
no''ars par value OF said preferred
Istock, and to elect two members of
the Board OF Directors OF the COM
= pany in lieu of two members of the
Board of Directors of the company
Z 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
r 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 saidstwo members so elect
} led 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
I the two members who may have been
| designated by the preferred stockhold-
e ers at such meeting or by a commit
tee of such stockholders appoint
I Ted at such meeting. shall re-
, tire upon the qualification of the
two members so elected by the pre-
tferred stockholders. After the pay.
e iment OF all arrearages OF dividends
| the exclusive voting power shall be
! lreturned to the holders of the COM
g mon stock; and new directors in lieu
{ of the directors elected by the holders
: of said preferred stock may be elect
L ed by such common stockholders al
9 a meeting which shall be called by
o the officers OF the company or thC
: holders of at least Ten Thousand
s Dollars par value of said common
e stock and upon twenty-one days no
/, tice thereof to the stockholders b!
n the officers of the company or saiC
y common stockholders.
y That no other or additional stool
d having equality with or preference o.
i priority over the $500, 100000 pa
:: value of said preferred stock. eithe
y as TO payment of dividends or dis
y tribution of assets or in any other re
If spect shall be issued without the con
l. sent given in writing or at meet
y ing of at least seventy-five per cen
,r in amount of the eight per cent cum
lie iulative preferred stock then out
IL standing (eXclusiye of any amount
/, acquired by the company or held TO
1, retiremenD and unless the averag
lie met earnings Of The company apple
10 able to the payment OF dividends 70
y the three fiscal years preceding tn
D. date of the proposed issuance of sue
rs other or additional stock shall hav
i'd been. at least three times the amour
t. required to pay the dividends upo
Ill the said preferred stock then oui
ne standing and upon the other or add
Mt tional stock then proposed to be Il
* sued.
I'd From time to time the preferre
ID and common stock may be issued |
ne such amounts and proportions q
ny shall be determined by the board {
IL directors aud as may be permitted, %
e. the law. '
Of 4. 20 amend Article Eight by &C
d. ding to the said article, as it, no
IL stands the following provision:
he Meetings of the directors may t
Ill held, for the transaction of any bus
Ii mess Of the corporation, at such plaC
Ill outside OF the state or elsewher
rs within the state. than at its prime
Ut pal office. as the directors may, b
be resolution or bylaw. provide.
Ir- The board of directors shall hay
n power by resolution passed by mi
We jority vote of the whole board.
er designate not less than three NJ
id more than five of their number
ra lcnnstituta an Expcutiyp COmmittp