The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1928-10-09
SANITARY CALLS
IN PREFERRED
STOCK
BY HARRY GUSACK
Financial Editor

Sanitary Grocery Company vii
have until November rs, 1928, t
surrender such stock at $llO
share or receive for it one-thlrd o
a share of common stock OF th'
CORPORATION according to notlct
received by the Washington Stoct
Exchange today.
The company has called for re
demption of its preferred stock a
the redemption price or S1lU
share. This preferred stock Il
listed on the Washington Stock Elk
change at $3.50 share, and unies:
the preferred stockholders take tht
opportunity to convert such share:
into the common stock, they vii
suffer loss of approximately SZ'
q. share. The common stock OF the
Sanitary Grocery Company closec
at s40S a share on the New YorE
Curb Exchange yesterday.
Stockholders Notified
Edward G. Yonker, president OF
the company has sent out the fol
downing notice to the preferred
stockholders in regard to the re-
demption and conversion or this
stock.
Notice Is hereby given that SAM
tary Grocery Company, Incorporated,
a Delaware corporation, pursuant
to the provisions of its certlflcate OF
INCORPORATION, as amended. has called
for redemption on December 1, 1878,
all of its issued and outstanding
shares of preferred stock. On that
date each holder of said preferred
stock, or his assigns, who mas not
surrendered the same for conversion.
should present his certlflcate or
certificates properly endorsed IN
blank. to the Bankers Trust COM
many. Reorganization Department,
No. Is Wall Street, Borough OF
Manhattan. City Of New York, WHERE
unon he will become entitled to re-
ceiye in respect of each share repre-
scented by such certificate or certl-
ficates the redemption price or $11O
plus in each case an amount equal
to unnaid cumulative dividends
thereon to and including December
/, 1928. oo
"On and after December i. 1928,
any and all dividends upon said pre-
ferred stock shall cease to accrue,
and all rights of the holders Thereon,
except to receive the redemption
price. without interest, shall cease
and terminate.
"AIl preferred stock certificates
surrendered for redemption must De
endorsed in blank. and the sigma
ture to the endorsement must be
witnessed.
s'If payment is to be made to the
same name as that appearing on
the face of the certificate, then no
stock transfer tax stamps need be
y
quested in a name different from
that appearing on the face OF the
certificate, there must be affixed
and cancelled two cents in Federal
and two cents in New York State
stock transfer stamps for each
share of stock represented by the
certificate. and the signature to the
assignment on the stock certificate
must be guaranteed by a New York
bank or trust company; or by an
out of town bank or trust COM
pany having New York CORE
spondent: or by a member of the
New York Stock Exchange. &c
such assignment is executed by an
executor, administI ator, trustee,
guardian, attorney, officer OF a
corporation, or person acting in =,
fiduciary capacity, proper evidence
act must accompany the stock GER
tificate.
Have Until Nov. rs
notwithstanding the call for re
demption of the preferred stock,
the holders have the right at any
time up to the close of business
November &c, 1926. e., the fifth
day prior to the date fixed for r.,-
demption) TO surrender such pre-
ferred stock to the corporation at
its transfer agency. Bankers Trust
Company, reorganization depart
nent, Is Wall ST.. borough of Man.
haitian, city of New York, and to
receive in lieu of and in conversion
therefore one third of a share CT
common stock Of the corporation in
exchange for each share of pre-
ferred stock represented by the GER
tlficate or certificates of preferred
stock presented for conversion,
without adjustment for dividends.
Scrip certificates will be issued for
fractional shares of common stock.
Redemption Price $40
I'm view OF the prive levels at
which common stock has been sell
ing recently, it is suggested that
holders of preferred stock consider
converting the same. A. form of
letter Of transmittal to ACCOMPANY
preferred stock certificates sur.
rendered for conversion is enclosed
herewith. Holders of preferred
stock who do not surrender their
certificates for conversion before
the close of business November 26
1928, will be entitled thereafter IL
receive only the redemption price
OF the preferred stock, to wit. S11C
per share and accrued dividends
Certificates OF preferred stock sur
rendered for conversion must be prop
erly endorsed in blank
"If certificates are to be sent b,
mail, it is suggested that the letteI
be registered.
"For the purpose OF holding ,
special meeting of the common stock
holders on November 8, 1928, tn
common stock transfer books will l.
closed from the close of bushes
on October II, 1928, until the oper
ing of business on November {
1928, and during this period no com
mon stock certificates will be issue
in respect of preferred stock certif
Gates delivered to the transfe
agent for conversion, but preferre
stock certificates so delivered wi
be held by the transfer agent (ur
les other instructions are giver
until the reopening of the commo
stock transfer books, at which tim
common stock certificates will b
issued
iNFANTII PARhI YSIS