Twin-City herald. [volume] (Minneapolis, Minn.) 1927-1940, 1933-03-18
Articles. of Incorporation


The name of this corporation is SAX
ON TRUCK AND AUTO PARTS COM
PANY. Its principal place of business
is in Minneapolis, Hennepin County,
mencement of this corporation is
March l, 1893, and the term of expir-
alton shall be Thirty (30) years there
after.
The general nature of the business
to be transacted by this corporation
and it's objects and purposes are to buy
and otherwise acquire, sell, exchange
and otherwise dispose of and generally
to deal in automobile trucks, passen-
ger cars, parts, accessories, equipment,
appliances, tools, supplies and mer-
chandise and personal property of
every other kind, quality and descrip-
ton; to purchase or otherwise acquire,
hold, improve, operate, SELL exchange
or otherwise dispose of real property.
buildings and estates and interests
therein; to purchase or otherwise &C
quire, hold and deal in securities and
evidences of Indebtedness of every
kind or description, including among
other things, stock of this corpora
ton; to make all contracts and do all
things necessary or reasonably incl
dental to the carrying on of its said
business and effecting it's said objects
ARTICLE III
The amount of the capital stock of
L
sand Dollars (s5O,00O), to be divided
into five hundred (500) shares of COM
mon and preferred stock of the par
value of One Hundred Dollars ($100.00)
each, which shall be paid in money.
property, or both at such times, in
such amounts, and in such manner as
the Board of Directors shall from time
to time prescribe. Of the common
stock there shall be Three. Hundred
and Fifty (350) shares, of the par
value of One Hundred Dollars ($10O)
each; and of the preferred stock there
shall be One Hundred Fifty G50)
shares, of the par value of One Hun
dred Dollars (S100) each The said
Fifteen Thousand Dollars (S15,0 00.00l
of preferred stock shall be entitled to
receive dividends at the rate of seven
90 per cent per annum, payable semi
annually on the first Monday of Janu-
each year, out of the earnings of said
corporation before any dividends shall
be paid upon the said common stock,
and such dividends shall be cumulative
so that any deficiency in the dividends
to be paid on said preferred stock in
any year shall be made good out of
the earnings of subsequent years be-
fore any dividend shall be paid upon
the said common stock. And in case
the earnings of the corporation shall
permit a dividend in excess of said
seven % per cent so to be paid semi
annually. then and in any such event
the preferred stockholders. after re-
ceiving such preference dividend shall
be entitled to share equally with the
holders of the common stock as TO any
dividend over and above the said
preference dividend. And on the final
liquidation of this corporation and the
distribution of its assets all arrears
OFF dividends shall be paid to the
holders of such preferred stock and
the shares of preferred stock shall he
baid in full before anv payment shall
Be made to the holders of the COM
1non stock; but when such arrears Of
dividends and the face value of such
Inreferred stock shall have been paid
the holders thereof shall receive no
other or additional payments whatever
The amount of such preferred stock
shall not be changed or altered by