The Coconino sun., 1926-05-07

stock, Series "A, of the par value of
One Hundred Dollars ($100) per
share undar Articles of Incorporation
of this corporation heretofore in eff
4 feet, shall be entitfed TO Preferred
/ stock, Series A, of the par value of
Twenty-Five Dollars ($25) per share
at the rate of four shares of such
i Preferred stock, Series A, for each
share of Preferred stock, Series A, of
1 the par value of One Hundred Dollars
1 ($100) per share held by them. The
/ holders of Preferred stock, Series B,
of the par value of One Hundred Del
lars ($100) per share under Articles
of Incorporation of this corporation
heretofore in effect, shall be entitled
to Preferred stock, Series B, of the
par value Of Twenty-Five Dollars
/ ($25) per share at the rate of four
shares of such Preferred stock, Series
| B, for each share of Preferred stock,
! Series B, of the par value of One
Hundred Dollars ($100) per share held
by them. The holders of Preferred
stock, Series C, of the par value of
One Hundred Dollars ($100) per share
under Articles of Incorporation of this
corporation heretofore in effect, shall
be entitled to Preferred stock, Series
d, of the par value of Twenty-Five
Dollars ($25) per share, at the rate
of -four shares of such Preferred
stock, Series d., for each share of
Preferred stock, Series C, of the par
value Of One Hundred Dollars ($100l
per share held by them. The holders
of Common stock of the par value of
One Hundred Dollars ($100) per share
under Articles of Incorporation of
this corporation, heretofore in effect,
shall be entitled to Common stock of
the par value of Twenty-Five Dollars
($25) per share, at the rate of four
shares of such Common stock for
each share of Common stock of the
par value of One Hundred Dollars
($100) per share held by them. When
ever all cumulative dividends on the
Original Preferred stock and on the
Preferred stock for all previous years
shall have been paid, the Board of
Directors may declare dividends on
the Common stock, payable out of
any remaining surplus or net profits.
up to seven per centum (796) per an
mum provided any Preferred stock,
Series A, shall then be outstanding,
but if not, up to six per centum (6o)
per annum, provided any Preferred
stock, Series B, shall then be out
standing, but if not, up to five and
one-half per centum (529o) per an
mum provided any Preferred stock,
Series C, shall then be outstanding,
but if not, up to five per centum
(5go) per annum. The remainder of
any surplus or net profits shall then
be applicable to the payment of fur
ther dividends, equally per share,
upon the Original Preferred and Com
mon stock.
In the event of any liquidation, dis
solution or winding up, whether vol
untary or involuntary, of the corpora
ton, the holders of the Original Pre-
ferred stock shall share equally, and
be entitled to be paid in full, both the
par amount of their shares and the
unpaid dividends accrued thereon, be-
fore any amount shall be paid to the
holders of the Preferred stock or to
the holders of the Common stock and
after the payment in full to the hold
ers of the Original Preferred stock of
the par amount of their shares and
all unpaid dividends accrued thereon,
then the holders of the Preferred
stock shall share equally, and be en-
titled to be paid in full, both the par
amount Of their shares and the un-
paid dividends accrued thereon, be-
fore any amount shall be paid to the
holders of the Common stock, and aft
er the payment, in the order aforesaid,
to the holders of all the Original Pre-
ferred stock and to the holders of all
the Preferred stock, of the par
amount of all shares held and of all
of the unpaid dividends accrued. there
on, the remaining assets and funds
shall be divided and paid to the hold
ers of the Common stock, equally and
pro rata, according to their respective
shares, up to the full par value there
of; If thereafter assets remain, the
same shall be distributed. ratably to
the holders of the Original Preferred
stock and the Common stock.
The Company shall have the option
of retiring any Series of the Preferred
stock, in whole or in part, ratably in
to the respective holdings
of stock of the Series, being retired,
upon vote of the Board of Directors
of the Company at any time, from
time to time, by paying therefor to
the holders thereof at the rate of
Twenty y-eight Dollars and Seventy
five Cents ($28.75) per share, plus
any accumulated dividends due
thereon. 4-9-6t |
CT'ATsLr nE APIVONA