New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1922-07-17
FINANCIAL
New York city. June 70. l29z.
To the -fockholder- ~

OAKLAND NltNlNliif NOhi ~, ~.
pisass 'sfs notice that sp.c,al ase,i is
~ ne Stockholders ~ GARLAND hIbAA-
SHIP CORPORATION. q eeW l0fh Npl -.
ration har been duly called ~ the Board OF
Dirsrfors 10 b. held ~ the once OF that
CON. stior. sii Flfth Avenue New YORK
cf.'. 81 81 AZ twelve o'clock Noon on Tues
da5. the ash day n July, 1879, Tor the pnr.
rosa IN .0nslfering ard takirg such act,on
a. me meeting may desire upon and Win
reference b the following rec0mmeniafion.
adopted hy the Board ~ Directors q faii
2goq2a a. o .gs q, ne 's ssI5drs q sI On
wednesday. tho list day % June, 1921, AZ
fonr oolocl IN ne afternoon. namely -,
The lncrease o. 10 authorized ear'in
amount thereof. to VII ii.92iooo consist.
INK N ffl 900 shares of common stock 2,
th9 par value ~ s. Per share 20 1870,
consulting n Cfi. 900 shares Of common siock
IN no ~ value of 8 per share. AMI 5000
shares N preferred stock Of tho par value
az $50 PER share. such preferred stock 20 en-
utie The holders thereof % 70 t' ao.ins
rights. 90 70 receive out % the surplus
profits Or out ~ the net earnings - ths
CORPORATION and the corporation snsll q;
bound 10 pay thereon as and When as.la a5si
dividend AZ the rate Of, but never etcef1lnf
zoe, pr annum. which preferential dividend
shall BE- cumulative from and af.er the dats
n ths Issuance o, the preferred stocs and
Ia PAYABLE yearly half yearly or quarterly
before any dividend shall b. ct apart Tor
on paid upon the common stock, ts) 20 share
IFN NNNH ACCORDING - fNF laA ftt..' -
respective stocks In any and all other. ciN-
fands declared and paid BY The corpcrauen,
and go in the event u any liquidation or
fissoiutlou or distribution 81 the assets %
fhs corporation whether voluntary or inyol-
untaryl 70 be paid the par amour, Of ths
preferred stock and the amount of any pref.
ercntIal disidenfs accumulated and unpaid
thereon before any amount shall b paiab.s
or raid 90 the holders Of the common stock,
ester which payment 20 the holders 81 the
preferred stock u ~ par value AMI tho
preferential dividends accumulated and IN
raid thereon the residue % the assets Of thf
corporation shah be rntabiy divided among
AMI paid 20 the holders of It's common stock.
q The adoption Of a resolution or bylaw
under and purruant 20 which during eaeh
calendar year Of the corporations existence,
beginning With the year 1879. there shall ,.
set aside and distributed ~ the Board OF
Directors l6g, OF the net profits Of the cor
poration FOR the calendar year In question
which may remain after deduciinE with re-
snect 20 such calendar year the cost ara eI-
panses q doing business, Losses incurred.
taxes paid. usual depreciation. the io@ pref
oreutial 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 distFibl-
ton 10 be made 20 such OF the oficers andfor
employees OF the corporation, and In sven
amounts a. the Board In It's uncontrolled
discretion may from tin9 70 time determine.
B. The Transaction OF such other busl.
ness AS may 10 brought 10 the attention OF
@, O. ALLEN. President
J. p. WATSON. Secretary