Nogales international., 1927-11-04
Nagales latsrnasioaarhe Peoples ravor.s Newspaper

sienated in writing, filed with the
lSecretary of the corporation, and
lif no such designation shall
lhave been filed, then such
Inotice 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
ioutstanding preferred stock
C"Series B") pro-rata number
of the shares held by each such
preferred stockholder shall be re-
deemed, provided that If any
I stockholders pro rata to be 80 re-
deemed, includes 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. 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-
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 Sf 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 uponathe first days Of Feb
ruary, May, August and Novem-
Der of each year, at the rate of.
and limited to eight per centum
(8TS) 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 (6heS) 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 eentum
| $3.50, and dividends >on the pre-
| fexred stock of "Series C" amount
ing 70 six and one-half per centum
/ (6 1850 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 ali
cumulative dividends on the pre-
ierred stock. "Series A." "Series
b" and "Series c." for all pre-
yious 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 hqui-
dation, dissolution or winding up,
sheti.er voluntary or Involuntary
tof the corporation the holders Oh
he preferred stock. both "Serie..
! A." Series B" and Series c..
shall share equally and be entitled
20 be paid in full. both the par
amount Of their shares and the
unpaid accrued dividends thereon,
oe1ore any amount shall be paid
20 the holders OF the common
stock, and after the payment t.
the holders of the preferred stock,
Of its par value. and all of the un-
leaid OF accrued dividends thereon,
Ihe remaining assets and funds
shall be divided and paid to the
Aolders of the common stock equal
~ and pro rata according to their
Irrespective shares.
| SEVENTH
/ That the amount Of said capital
stock which has been actually sub
Iscribed is fifteen Hundred Dollars
v ($1,600.00) consisting Of fifteen
! (16) 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
Is. F. McClung l $4,000
4. 8. Hoagland 1 $4,000
E. J. Winnings ! $4,000
Douglas E. c. Moore, l $4,000
Blake Franklin ! $4,000
EW. G. Green. / $4,000
.iE. C. Potter, / $4,000
III. w. Shaffer, ! $4,000
e. w. Fuller, / $4,000
B. L. Fredenbur ! $4,000
B. Mcclure l $4,000