The border vidette., 1928-09-15

or q B0Ar0s SuCQ pro rNbH bualI Do III
creased to the next higher. or decreas-
ed to the next lower whole number OF
shares. according as such fraction does
or does not exceed one-half OF a share.
If the holder OF any such preferred
stock 80 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 80
fixed for redemption. and the former
holder the, eof shall not have or exer-
else any right in respect thereto. ex.
cept to receive the amount payable on
account OF such re iomption, without
interest, upon surrender OF the certi6-
cate ting the stock so redeem
ed All such preferred stock redeem.
ed hereunder shall Immediately, on
the redemption thereof. be cancelled
and held in the treasury OF the corpor-
alton uttl reiesued.
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 o. tn, corporation. quarter.
" dividends payable upon the first
DAYS If February. May, August and
November OF each year, at the rate OF
and limited to eight percentum e per
cent? per annnm That the holders of
preferred stock "S5ries 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 frst days of Feb
ruary. 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 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 year, at the rate of and limited
to seven per centnm 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 shalt be paid or
set apart, so that II any one year divi
dends on the preferred stock Of Series
A" and "Series b. amounting to eight
per centum (8 per cent?. and dividends
on the preferred stock Of "Serles c."
amounting to six and One-half per
centum (64 per cent?, and dividends on
the preferred stock OF "Series D."
amounting to seven per centum 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, Series AZ. ''Series
b., .Scries C" and Series Dr. for all
previous years shall haze been paid,
the Board Of Directors may declare
dividends on the common 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.
oration. the holders OF the preferred
stock, TO b ''Series AZ, Series b.,
"Series &" and Series D" shall share
equally aud 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 all Of the unpaid or
ACCFucQ ulVJueuuS buorOOus Tue rem0ln.
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 t15) shares of said
preferred stock of the par value Of One
Hundred Dollars (Sl0O) each, and the
following are the names OF the persons
by whom the same has been subscrib.
ed, to-wit: