The border vidette., 1928-10-13

ed to the next lower whole number of
shares, according as such fraction does
or does not exceed one half OF share
If the holder of any such preferred
rtock 50 called for redc mption shall fail
10 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 tie former
holder thereof shall not have or exer-
else any rig ht in respect rthereto, ex.
cept to receive the amount payable on
account OF such redemption, without
interest, upon surrender of the certif.
cate representing the stock SO redeem.
ed All such preferred stock redeem.
ed hereunder shall Immediately, on
the redemption thereof, be cancelled
and held Ia the treasury OF the corpor-
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 of the corporation. quarter
| ly dividends payable upon the first
days # 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 aud 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, ut the rate OF and limited
to six and one half per centum ,69 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 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.
| d ends on the preferred stock of Series
Al and "Series e" amounting to eight
per ceutum 8 per cent? and dividends
on the preferred stock Of "Serles C''
I amoupEing to six and one half per
centurn (63 per cent?, and dividends on
i the preferred stock of ''Series D."
amounting to seven per centum & 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.
i Whenever all cumulative dividends on
the preferred stock, "Series Az. .Series
B'', "Sories CT and Series D'' for all
previous years shall baYe been paid,
the Board of Directors may declare
dividends on the common stock pay a:
BILE out OF the remaining surplus or Let
profits
| That in Che event OF any liquidation,
dissolution or winding up, whether
voluntary or Involuntary, of the corp
oration, the holders of the preferred
stock, both ..'Series AZ, '.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 ofithe 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 divide ed
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 t$l ,5OO)
consisting OF fifteen (15) shares OF said
preferred stock of the par value of One
Hundred Dollars ($l00) each, and the
following are the names of the persons
by whom the same has been subscrib
ed. to-wlt: