Nogales international., 1927-11-11

directed TO the ADDRESS InaV SucL
holder shall have previously de
signated in writing, filed with the
lSecretary of the corporation, anC
lif no such designation shall
lhave been filed, then such
notice shall be addressed te
| such notice shall be addressed tc
such stockholder at Los Ang-
| eles, California. In case of re-
| demption at any one time of less
than the whole amount of such
loutstanding preferred stock
| ("Series B") pro-rata number
of the shares held by each such
preferred stockholder shall be re-
deemed, provided that if any
stockholders pro rata to be so re-
deemed, includes fraction of q
lshare, such pro rata shall be in
creased to the next higher, or
decreased to the next lower whole
number Of shares, according as
such fraction does or does not ex-
ceed one-half of share. If the
holder of any such preferred stock
| so called for redemption shall fail
to surrender the certificate rep
resenting such stock, the same
shall, nevertheless. be deemed to
be redeemed, retired and cancel
led upon the date so fixed for re-
demption. and the former holder
thereof shall not have or exercise
any right in respect thereto, ex-
cept to receive the amount pay
able on account cf such redelnp-
ton without interest, upon sur
render of the certificate represent
! ing the stock so redeemed. All
such preferred stock redeemed
hereunder shall Immediately, on
the redemption thereof, be cancel
led and held in TIE treasury Of the
corporation until reissued.
That the holders Of the prefer
red stock both "Series A" and
"Series B." shall be entitled to re-
ceive, when and as declared from
the surplus or net profits of the
corporation, quarterly dividends
payable upon the first days cf Feb
ruary, May, August and Novem-
Der of each year, at the rate of
and limited to eight PER centum
(8@s) per annum. That the
holders of preferred stock, "Series
c." shall be entitled to receive
when and as declared from the
surplus or net profits of the cor
poration, quarterly dividends pay
able upon the first days of
February, May, August and
November of each year at
the rate of and limited to six and
one half per centum- (61zao) per
annum. The dividends on the
preferred stock shall be cumula-
tive, and shall be payable before
any dividends on the common
stock shall be paid or set apart,
so that if in any one year divi-
dends on the preferred stock of
Series A" and "Series b.
amounting to eight per ceptum
l8%), and dividends on the pre-
1erred stock of "Series C" amount
ing to six and one-half per centum
II 1880 shall not have been paiu
lhereon, the deficiency shall be
payable before any dividends shall
De Eaid upon or set apart for the
common stock. Whenever ali
cumulative dividends on the pre-
4erred stock, "Series A." Series
Is" and "Series c." for all pre-
vlous years shall have been paid,
che Board Of Directors may de-
clare dividends on the common
stock payable out of the remain
ing surplus or net profits.
lnat IN the event OF any liqui-
datlon, dissolution or winding up,
whether voluntary or involuntary
OF The corporation the holders OF
che preferred stock, both "Ser.es
A." Series 81 and "Series c.
shall share equally and be entitled
TO be paid in full, both the pal
amount Of their shares and the
unpaid accrued dividends thereon,
oefore any amount shall be paio
20 the holders of the common
stock, and after the payment to
the holders Of the preferred stock,
of its par value, and all of the un-
paid or accrued dividends thereon,
the remaining assets and funds
shall be divided and paid to the
holders of the common stock equal
~ and pro rata according to their
respective shares.
SEVENTH
That the amount of said capital
stock which has been actually SUBJ
scribed is fifteen Hundred Dollars
($1,500.0O) consisting Of fifteen
(15) shares of said preferred
stock of the par value of One
Hundred Dollars ($100.OO) each,
and the following are the names OF
the persons by whom the same
has been subscribed, to wit:
Number
Name of Shares Amount
S. +. McClung l $4,000
X. S. Hoagland $4,000
E. j. Winnings $4,000
Douglas E. C. Moore, $4,000
Blake Franklin $4,000
W. G. Green, L $4,000
IE. C. Potter, L $4,000
J. w. Shaffer, l $4,000
E. w. Fuller, 1 $4,000
ID r7I.l,-- p1OO IN