The border vidette., 1928-10-06


shares, according as such fraction does
or does not exceed one half OF a share
1 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 so
fixed for redemption. and &! former
holder thereof shall not have or exer-
else any right in respect thereto, ex
cept to receive the amount payable on
account of such redemption, without
interest, upon surrender Of the certifi-
cate representing the stock 40 redeem
ed All sucb preferred stock redeem
e1 hereunder shall Immediately. on
the redemption thereof. be cancelled
and held In the treasury OF the corpor-
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 OF the corporation. quarter
~ dividends ayhble upon the first
days .f February. May, August and
November Of each ear, at the rate OF
and limited to eight percentum Is per
cent? per annum. That the holders Of
preferred stock "Series C", shall be
entitled to receive. when and as declar-
ed from the surplus or net profits of
the corporation, quarterly dividends
payable upon the first days of Feb
ruary. May. august and November of
each ear. at the rate Of and limited
to six and one half per centum 81 per
cent? per anrum. That the holders OF
preferred stock, Series D' shall be
en- titled to receiva, when aud as declar.
ed from the surplus or net profits of
.tbe> corporation, quarterly dividends
payable upon the first days of Feb
ruary, May, august and November OF
each year, at the rate OF and limited
to seven per centum e 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 If any one year divi-
ends on the preferred stock of Series
Al and "Series b. amounting to Gig ht
per centum e per cent?, and dividends
ON the preferred stock of "Serles C''
conium (6} per cent?, and dividends on
|
amounting to sc ven per eentum q per
cent? 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 all cumulative dividends on
the preferred stock. .Seres Az. "Series
B'', Series C" and '.Series D'' for all
previous years shall baye been paid
the Board of Directors may declare
dividends on the com mon stock paya.
BILE out 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
or...ion, the holders of the preferred
stock, both "Series ~, Series B'',
''Series C'' 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 payment to the
holders of the preferred stock of its
par value, and ell OF the unpaid OF
accrued dividends thereon. the remain
ing assets and funds shall be divided
and paid to the holders of the 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, ,5O0)
consisting Of fifteen q5) shares OF said
preferred stock. of the par value of One
Hundred Dollars ($l00) each, and the
following are the names OF the persons
by whom the same has been subscrb
ed, to-wit: