Albuquerque morning journal. [volume] (Albuquerque, N.M.) 1903-1926, 1922-11-17


mon stock nd Two Thousand
(2,O00) shares shall be full paid
worcestershire preferred stock
The preferred stock referred to
shall bear cumulative dividends at
the rate Of per cent per annum.
payable on the first days of Janu-
airy, April, ,uly and October OF
each year. and may be retired at
any time, in whole or in part. or
any dividend paying date. upon
payment of all accumulated divi
dends and the further ayment OF
10 per cent of the par value OF
the preferred stock. In the event
Of am voluntary or involuntary
liquidation or dissolution of this
corporation thee shall be paid to
the holders of the preferred stock
then outstanding 10 per cent OF
the par value thereof, together
with all accumulated dividends
thereon, befC any liquidating
dividends shall be distributed to
the holders of the common stock.
No dividends shall be paid on the
common stock until the net assets
Of the corporation are not less than
10 per cent of the par value of all
the stock, tn common and pre-
ferred then Issued and outstand-
ing, nor shall any dividends b.
paid on the common stock which
would reduce the net tangible as
sets below 40 per cent for each
share of stock, both common and
preferred, then issued and out
standing. The preferred stock
shall be entitled. out of any and all
surpll and b" or net profits, when
ever ascertained, to cumulative div
idends at the rate OF SO pei an
mum in each and every year here
after, in preference and priority to
any payment Of any dividends on
the common stock for such year
The common stock shall be subject
to the prior rights of the holders of
the preferred stock. as herein de-
clared. If. after providing for the
payment Of fun dividends for any
year on The preferred stock,
and for any balance that may
remain due on the cumulative
dividends on such preferred stock,
for preceding years, there shall "e-
main any surplus and or net
profits, any and all such surplus
and / or net profits, not in the
opinion of the board of directors
required to provide for mainte
nance, improvement, enlargement.
and operation of the property and
business of the corporation, or for
the payment of its liabilities. shall
be applicable to the payment Of
dividends equally per share upon
both preferred and common stock, |
provided the net assets after the
paying Of such dividend would be
worth at least 1909 Of the total of
all shares Of stock both common
and preferred then issued and out
standing. If a part only of the
preferred stock is red emed at any
time, the shares to be redeemed |
may, at the option of the board of |
directors, be selected pro-rata. as
the board Of directors shall de- |
termine. The preferred stock shall |
have equal voting power with the
common stock.
No amendment OF the Certificate !
OF Incorpo. ..tion affecting the |
rights Of the preferred stockhold-, |
or changing the nature of the cor
lJbl ullOll - bh0lltDo. VI ~ Wv ullif1 |
for any new issue of stock to have |
preference over preferred stock |
herein authorized shall be made |
without the consent of the holders |
Of three -fourt : of the outstanding |
preferred stock. except that with |
the consent of the holders of q ma
iority of the o"tstandir' preferred |
stock, the amount of the preferred |
stock herein authorized may be in
creased.
The amount of capital stock
with which this corporation will |
commence business IS the sum OF |
Hundred Dol lars
($2100). being twenty-one C21) |
shares of One Hundred Dollars /
($100) each.
EXHIBIT b"
THE, NATIONAL CATTLE LOAN
COMPANY.
JUDGES CERTIFICATE.
Fl. w. Kramer. Secretary, The
National Cattle Loan Company.
We, the undersigned. do hereby
certify that at the meetin~ Of the
shareholders Of said The National
Cattle Loan Company. held on the
fifth day of September, 1922, at II
o'clock. a. m. called to consider
the resolution of the board Of dl-
rectors Of said corporation, which
was adopted on the twenty-seventa
day of July, 1922, at a meeting
held on that day. and declared the
advisability OF a proposed amend
ment to the Certificate of Incor-
poratlon of said certificate. a true
copy of which amendment is hereto
and marked Exhibit A."
we were appointed by said share
holders meeting. judges for the
purpose of conducting, counting
and ascertaining the vote of the
said shareholders of said corpora