Evening journal. [volume] (Wilmington, Del.) 1888-1932, 1922-10-30
NOTICES.
NOTICE. no sToCKHOLDERs.


! NOTICE TO STOCKHOLDERS.
] A special meeting OF the stockholders
Of the United States Credit Corpora
tlOn viii be held In the offices OF the
corporation. 1O9 Genesee street, Utica
n. Y, on the tenth day Of November
1922, at o'clock in the afternoon. The
object OF the meeting will be to vote
upon a proposition authorizing the di-
rectors Of the United States Credit
Z Corporation to sell its entire assets TO
a new corporation to be formed, to be
known as the North American Credit
Corporation or by some other appro-
pirate name.
An outline OF the proposed plan OF
sale Is substantially as follows.
A new corporation will be immedl-
ately organized under the laws OF the
state OF Delaware, with charter SINH
lar to the one now held by the United
States Credit Corporation and author
zing the issuance OF fifty thousand
(50,000) shares OF preferred stock par
value OF fifty dollars (S50.00) each. hav-
ing substantially the following prefer
may be deemed advisable:
The preferences and distinctive fea-
lures OF the preferred stock are sub
stantially as follows: The holders OF
the preferred stock shall be entitled 10.
receive when and as declared. from
the surplus or net profits OF the cor
pOration, yearly dividends at the rate
OF seven per cent. C7eo) per annum and
dates TO be fixed by the bylaws. the
said dividends TO be cumulative ono
interest. however, 70 be paid on ac-
cumulhtions). No dividends shall be
paid upon the common stock until the
said dividends upon the preferred stock.
with all accommodations. shall have been
paid In fun to the end OF the last pre-
ceding dividend period.
In the event OF any liquidation. dis
or winding up (whether vol
untarv or Involuntary OF the CORPORA
ton. the holders OF the preferred stock
shall be entitled TO be paid in full both
the par value Of their shares and the
dividends accumulated and unpaid
thereon, before any amount shall be
paid to the holders Of the common
stock and after payments TO the hold
ars OF preferred stock of it's par value
and the accumulated and unpaid dlvi-
lends thereon. all further sums. prop
erty and assets shall belong to and be
paid to the holders OF the common
'erred stock shall not have the right |
10 any further participation In the
profits or assets OF the corporation. 1
save as aforesaid. the holders OF said
stock shall not be otherwise |
Interested In or entitled TO share in the Z
Profits or assets OF the corporation and 4
n the event OF the capital stock OF the (
at any time being Increased, 7
he holders OF said preferred stock shall .
lot be entitled to any right OF subscrip- |
ion to such Increa sed stock.
The preferred stock shall be redeem
lble as a whole only at the option OF
he corporation at siXty-ive '(S65) dol
ars per share and any accrued divi- /
lend thereon upon any dividend da,e
ubseqHent to one year from the date
II this instrument. upon sixty (6o)
LAYS previous notice by mail, to the
folders Of the preferred stock, Al their
asst registered address on the books Of
he corporation. The holders OF the
stock shall not be entitled to
citing power.
horned 10 issue fifty thousand $50 500)
hares Of stock with no nominal or
"a value. The purchase price TO be
aid 10 tho United States Credit Cor
oratlon by the new corporati will 4
q substantially as follows: The num-
er OF shares OF Its preferred stock
Illy paid and non -assessable. equal to ]
he number OF shares OF preferred stock
the United states Credit Corporation, |
Z preferred stock Of the new corpora
on at par equal to the dividends ac-
umulated and unpaid on the preferred y
took OF the United States Credit Cor
erred stock. the new corporation viii c
rant to the present common stock
olders OF the United States Credit
ornoration. the right to subscribe 10 \
NO (2) shares OF the no par value stock
I the new corporation for each one
rare they now hold OF the United T
tates Credit Corporation. at three
g. 00) dollars per share. this right to
ibscribe may be exercised by the COM 7
on stockholders upon their turning In
leir common stock to the United States
redit Corporation. The new corpora f
on will assume the outstanding notes
I'd accounts payable Of the United NJ
.ates Credit Corporation. appearing
the books OF said corporation on the
~ WALTERSw. BRIGGS. +
1880. Secretary.