The border vidette., 1928-10-20

CreHS0u 10 tu0 p0At nlRucr. or ueCfoaS-
ed to the next lower whole number of
shares, according as such fraction does
or does not exceed one half OF share.
II the holder of any such preferred
stock SO called for redemption shall fail
to surrender the certificates represent
ing such stock. the same shall. never
theless, be deemed to be redeemed, re-.
tired and cancelled upon the date 60
fixed for redemption. and tle former
holder thereof shall not have or exer-
else any right In respect thereto. ex
cept to receive the amount pa. able on
account of such redemption. without
interest, upon surrender Of the certif-
cate representing the stock 40 redeem.
ed. All such preferred stock redeem
ed hereunder shall Immediately. ON
the redemption thereof. he cancelled
and held Ia the treasury OF the cvrpor-
alton until reissued.
That the holders Of the preferred
stock, both '.Series AZ and Series
b., shall be entitled to receive. when
and as declared from the surplus or
net profits or the corporation. quarter.
ly dividends pa, able upon the first
days II February. May, August and
November OF each year. at the rate OF
and limited to eight percentum Is per
cent) per Hnnum. That the holders OF
preferred stock "Series C'', shall; be
entitled to receive. when aud as declar-
ed from the surplus or net profits OF
the corporation, quarterly dividends
payable upon the frst days OF Feb
rusry. May, august and November Of
each year. at the rate Of and limited
to six and one half per centum 81 per
cent) per annum. That the holders of
preferred stock, "Series D' shall be
entitled to receive. when and Us declar
ed from tho surplus or net profits OF
the corporation, quarterly dividends
pay able upon the first days Of Feb
ruary. May, august and November Of
each year, at the rate OF and limited
to seven per centnm q per cent) per
annum. The dividends on the pre-
ferred stock shall be cumulative. and
shall be payable before any dividends
+ on the common stock shall be paid or
set apart, so that II any one year dlvi
dends on the preferred stock Of Series
AZ and "Series B" amounting to eight
per centdm e per cent? and dividends
on the preferred stock Of "Ser,es c.
amounting to six and one half per
centum (62 per cent?, and dividends on
the preferred stock of ''Series D."
amounting to seven per centum q per
cent? ehall not have been paid thereon,
the deficiency ehsll be payable before
any dividends shall be- paid upon or
set apart for the common stock.
Whenever all cumulative dividends on
the preferred stock, "Series Az. ..Series
81, "Series CO. end "Series d. for all
previous years Shall bave been paid, ,
the Board OF Directors may declare
dividends on the common stock paya.
BILE ont of the remaining surplus or Let
profits
That in the event OF any liquidation,
dissolution or winding up, whether
voluntary or Involuntary. OF the corp
oration. the holders OF the preferred
stock, both '.Series Al, Series B",
Series Cn and Series d. shall share
equally and be entitled to be paid In
full. both the par amount OF their
shares and the unpaid accrued divi-
dends thereon, before any amount shall
be paid to the holders OF the common
stock, and after the pay ment to the
holders Of the preferred stock of its
par value, and all OF the unpaid or
accrued dividends thereon, the remain.
ing assets and funds shall be divided
and paid to the holders of tho common
stock equally and pro rata according to
their respective shares.
SEVENTH
That the amount OF said capital
stock which has been actually subscrib
ed is Fifteen Hundred Dollars Isl ,5OO)
consisting OF. fifteen u5) shares OF said
preferred stock of the par value Of One
Hundred Dollars t$lOO each, and the
following are the names of the persons
by whom tho same has been subscrib.
ed. to-Wit: