The Redwood gazette. [volume] (Redwood Falls, Minn.) 1873-1940, 1927-11-02
Oct. 26-Nov. 2

AMENDMEN1 III CERllrlCAlE
OF INCORPORATION OF THE
FARMERS CREDIT COMPANY OF
REDWOOD FALLS, MINNESOTA
At special meeting of the stock
holders of the above named Associa-
ton, held at it's office in Redwood
, Falls, Minnesota, on the 18th day of
August, 1927, the following resolu-
ton was offered and adopted by a ma
jority of it's Capital Stock.
RESOLVED, That Article V of the
Articles of Incorporation of this AS
ISOLATION be amended to read as fol-
lows:
ARTICLE V. CAPITAL STOCK
The total authorized Capital Stock
of this Company is Twenty Thousand
Dollars ($2O,O0O.OO) of common stock
divided into Two Thousand Shares of
the par value of Ten Dollars ($10.00)
each to be paid in as and when the
Board of Directors may require; and
Fifty Thousand Dollars ($50,000.OG)
of preferred stock divided into Five
Thousand Shares of the par value OF
Ten Dollars $4,000 each, to be paid
in as and when the Board of Direct
ors may require. That said prefer
red stock shall be entitled to receive
dividends at the rate of 21a per cent
semi-annually, payable on the Both
day of June and the 31st day of Dec
ember of each year, out of the earn
ings of said Corporation before any
dividends shall be paid upon the said
Common Stock, and such dividends
shall be cumulative so that any de-
ficiency in the dividends to be paid on
said preferred stock in any year shall
be made good out of the earnings Of
subsequent years before any dividend
shall be paid on said Common Stock.
And on the final liquidation of TINS
Company said preferred stock shall
receive out of the assets thereof any
unpaid dividends earned thereon, to-
gether with the full par value of Ten
Dollars $4,000 per share before any
distribution therefrom to the holders
of the Common Stock. The holders
of the Common Stock shall have the
management and control of this Cor
poration so long as the business Of
said Corporation is able to pay from
its earnings the said preference divid-
ends on such preferred stock, and
during such time the holders of such
preferred stock shall have no voting
power. But in case said dividends
shall not be earned and paid for a
period of Is months, then and in that
event the holders of preferred stock
shall have the same voting power in
the election and in the management
and control of said Corporation as the
common stockholders. Said prefer
red stock may at the option of this
Company be redeemed at any time
. after January LIST, 1882, upon the pay
ment of the sum of $1,000 per share,
and any unpaid cumulative dividends.
We hereby certify that the fore
going resolution was duly adopted by
a majority vote of the Capital Stock
of the said Farmers Credit Company
of Redwood Falls, Minnesota, at a
meeting duly called for that purpose
and held at the office of the Company
on the 18th day of August, 1927.
A. M. DENNISTOUN,
President.
HAROLD BUTCHER,
(SeaD Secretary.
STATE OF MINNESOTA, COUNTY
OF REDWOOD-ss.
On this 18th day of August, 1927,
before me appeared A. M. Dennistoun
and Harold Butcher to me personally
known, who being by me duly sworn,
did saw that they are respectively
the President and Secretary of the
Farmers Credit Company of Redwood
Falls, Minnesota, and that the seal af-
fixed to the foregoing instrument is
the corporate seal of said Corpora
ton, that said instrument was exc
cuted by them as their free act and
deed.
GEORGE A. BARNES,