The border vidette., 1928-09-22

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 e-half OF share
II the holder OF any such preferred
stock go called for redemption shall fail
to surrender the certificates represent
ing such ssock. the same shall, never
thelese, be deemed to be redeemed, re.
tired and cancelled upon the date so
fixed for redemption. and tie 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 certif-
cate representing the stock go redeem.
ed All such preferred stock redeem.
ed hereunder shall Immediately. on
the redemption thereof, be cancelled !
and held In the treasury OF the cJrpor
alton until reissued.
That the holders Of the preferred
stock, both .Series A and "Series
b.. shall be entitled to receive, when
and as declared from the surplus or
net profits O. the 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 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 aud limited
to six and one half per centum 81 per
cent? per annum. That the holders OF
preferred stock, "Sefies Dr. 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 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
dends on the preferred stock OF Series
Al 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
cen,um (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
Whenever all cumulative dividends on
the preferred stock. ..Series AZ. .'Series
b.. .Series G." and .Series D" for all
oh
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, both "Series Al. 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, aud all of the unpaid or
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 ($100) each, and the
following are the names OF the persons
by whom the same has been subscrib
ed, to- wit: