Nogales international., 1927-10-28

Secretary of the corporation, ant
If no such designation shall
have been filed, then such
notice shall be addressed tt
such notice shall be addressed tc
such stockholder at Los Ang.
.e,es, California. In case of re
demption at any. one time of less
than the whole amount of such
outstanding preferred stock
("Series B") a pro-rata number
of the shares held by each such
preferred stakeholder shall be re.
deemed, provided that if any
stockholders pro rata to be so re-
deemed, includes a fraction Of q
share, such pro rata shall be in.
creased to the next higher, OF
decreased to the next lower whole
number of shares, according -
such fraction does or does not ex-
ceed one-half of share. II 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-
dempt;on. 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 of such redemp-
ton without interest, upon sur
render Of the certificate represent
ing the stock so redeemed. All
such preferred stock redeemed
hereunder shal! immediately, on
the redemption thereof, be cancel
led and held in tire 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 of Feb
ruary, May, August and Novem-
Der Of each year, at the rate of
and limited to eight per centum
(c@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 l61s%) per
annum. The dividends on the
preferred stock shall be cumula-
tive, and shall be payable before
any dividends or 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 centum
(8%). and dividends on the pre-
ferred stock Of "Series C" amount.
ing TO six and one-half per centum
t6 1850 shall not have been paid
thereon, the deficiency shall be
payable before any dividends shall
be paid upon or set apart for the
common stock. Whenever al
cumulative dividends on the pre-.
ferred stock, 'Series A" "Series
B" and "Series c." for all pre-.
vious years shall have been paid
the Board Of Directors may de.
clare dividends on the common
stock payable out of the remain.
ing surplus or net profits.
That in the event OF any liqui.
dstion, dissolution or winding up
whether voluntary or involuntary
Of the corporation the holders Of
the preferred stock. both "Serie:
A." Series b" and Series c.
shall share equally and be entitled
@ be paid in full, both the pal
amount Of their shares and the
unpaid accrued dividends thereon
oetore any amount shall be- paio
TO the holders Of the common
stock, and after the payment tt
che 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 theil
respective shares.
SEVENTH
That the amount of said capita
stock which has been actually sub
scribed is fifteen Hundred Dollar.
($1, 1,500.00) consisting Of ffteer
(164 shares Of said preferred
stock Of the par value Of On,
Hundred Dollars ($100.O0) each
and the following are the names O.
the persons by whom the sam,
has been subscribed, to wit:
/. Number
Name Of Shares Amoun
S. F. McClnng 1 $10O.Ot
&. 5. Hoagland l $4,000
e. J. Winnings / $4,000
Douglas e. C. Moore, l $4,000
Blake Franklin l $4,000
w. C. Green. l $4,000
E. C. Potter, 1 $4,000
J. W. Shaffer, 1 $4,000
e. w. Fuller, l $4,000
B. L. Fredenbur l $4,000
B. Mcclure l $4,000
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