New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1922-07-24
FINANCIAL
New York city. June IS. 1929.
To the stockholders of

GARLAND STEAMSHIP CORPORATION
Please take notice that Special Meeting
SHffP P6?R&rfoT New Yors - t EAM
ration has been duly called by the Board Of
Directors to be held at ths Office OF that
corporation. 81 Fifth Avenue. New York
City n. y, at twelve O'Clock Noon on Tues
day, the 25th day of July. 1922. for the pur-
pose Of considering and taking such action
"a the meeting may desire upon and with
reference to the following recommendations
( adopted by the Board Of Directors OF said
corporation at a special meeting of said
Board held at the Office of the corporation on
Wednesday,. The 21st day OF June. 1922. al
four o'clock in the afternoon. namely:
/, The increase of the authorized capital
stock Of this corporation from the present
amount thereof. to wit. .si923.oOo. consist
ing OF 6tl,000 shares OF common stock Of
tho par value OF 81 per share, to s3.243.o0
consisting of $4,000 shares of common stock
shares OF preferred stock of the par valus
Of $50 per share, such preferred stock 10 en-
ute the holders thereof % TO full voting
profits or out OF tho net earnings OF the
corporation. and 1he corporation shall be
ny the Boa~d of Directors, O. preferential
! dividend at The rate Of hut never exceeding
1919 per annum, which preferential dividend
shall be cumulative from and after the date
of the Issuance of the preferred stock and
be payable yearly half yearly or quarterly
before any dividend shall be set apart for
or paid upon the common stock, (3) TO share
pro rata according to the par value of the
respective stocks in any and all other 6iyi-
dends declared and paid by the corporation
ana % IN the event OF any liquidation
dissolution or distribution OF the assets OF
the corporation (whether voluntary or invol-
untary) to be paid the par amount OF the
preferred stock and the amount of any pref
ereptai dividends accumulated and unpaid
thereon before any amount shall be payable
or paid TO the holders of the common stock
after which payment to tho holders OF the
preferred stock OF its par value and the
preferential dividends accumulated and I'M
paid thereon the residue OF the assets of the
corporation shalt be ratably divided among
and paid 10 the holders Of its common stock
2. The adoption OF resolution or bylaw
under ana pursuant TO which during each
calendar year,of the corporations existence
beginning with the year 1922. there shall be
set aside and distributed by the Board of
Directors 1876 of the net profits OF the cor
poration for the calendar year in question
which may remain after deducting with re-
spect 70 such calendar year the cost and ex-
penses of doing business, losses incurred,
taNes paid usual depreciation, the 10 3, pref.
erential dividend on the average outstanding
preferred stock and So on the average OUT
standing common stock and on the average
surplus and undivided profits, such distrfbi-
ton TO be n>ade TO such OF the officers and/or
amounts as thu Board in It's uncontrolled
discretion may from time to time determine
3. Tho transaction of such other busi-
ness as may be brought to the attention OF
tho meeting.
G. G.. ALLEN. President.
j, P. WATSON, Secretary.