Nogales international., 1927-11-25

directed to the address that such
holder shall have previously de-
, signated in writing, filed with the
Secretary of the corporation, and
jif no such designation shall
have been fled, then such
notice shall be addressed to
such notice shall be addressed to
such stockholder at Los Ang-
eles. California. In case of re-
demption at any one time of less
than the whole amount Of such
outstanding preferred stock
("Series By 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 q fraction Of a
share. 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 tSe certif ;catc 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 STR
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 rcissued.
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 Noyem-
Der of each year, at the rate Of
md limited to eight per centum
(8%a) 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 (6h% per
annum. The dividends on the
preferred stock shall be cumula-
i've, 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.
mounting to eight per centum
$40, and dividends on the pre-
erred stock of "Series C" amount
ing 10 six and one-half per centum
10 1890 shall not have been paid
thereon, the deficiency shall be
payable before any dividends shall
De paid upon or set apart for the
common stock. Whenever all
cumulative dividends on the pre-
Ierred stock, Series A." Series
81 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 iqui-
Qation, dissolution or windlng up,
" netner voluntary or involuntary
OF the corporation the holders OF
che preferred stock. both "Series
"A, Series 81 and Series c..
snail share equally and be entitleo
20 be paid In full, both the par
amount of their shares and the
unpaid accrued dividends thereon,
oelore any amount shall be paio
10 the holders OF the common
stock, and after the payment to
Cne holders of the preferred stock,
OF it's 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 sub
scribed is fifteen Hundred Dollars
($1,500.OO) consisting of fifteen
(15) shares Of said preferred
stock Of the par value Of One
Hundred Dollars ($100.00) 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
II. s. Hoagland ! $4,000
E. J. Winnings $4,000
Douglas E. C. Moore, $4,000
Blake Franklin $4,000
w. G. Green, / $4,000
e. C. Potter, $4,000
j. w. Shaffer, $4,000
e. w. Fuller, $4,000
B. L. Fredenbur / $4,000