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Collection: Original Records > Articles of Incorporation

Grass Valley Fruit Lands Company (AI-G118) (1913) (5 pages)

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follows, to wit:Lioyd P. Larue whose residence is Grass Valley, California W, T. Jenkins ok: e Gs , : Bessie. Whittet : # x # Marie Perkins a ‘ is S 7 Mose Carson 4 Se a * s : Dory Ube Be Bre ea a y bf A a . Jas. C. Tyrrell E ts u z x " Sixth, That the amount of the capital stock of said corporation is ONE HUNDRED THOUSAND DOLLARS, ani the number of shares into which it is divided is TEN THOUSAND (10,000) shares of the par value of Ten (10) Dollars each, of which capital stock FIVE THOUSAND (5000) shares of the par value of Ten (10) Dollars per share shall be common stock and FIVE THOUSAND (5000) shares of the par value of Ten (10) Dollars per share shall be preferred stock. The nature and extent of the preference granted to said Five Thousand shares of stock is as follows; The holders of preferred stock shall ve entitled to receive from the surplus profits or net earnings arising from the business of this corporation when and if declared by the Board of Directors, eccumula— tive preferential dividends at tne rate of six (6) per cent per annum and no more, payable semi-annually, quarterly or monthly as the by-— laws shall from time to time provide, upon dates to be fixed by the Board of Directors and upon the liquidation or dissolution of this corporation in any manner each holder of preferred stock will be en-— titled, after the payment of all debts and liabilities of the corporation, to receive the par value of their Shares with any unpaid dividends accruing thereon, before any payments are made to the holders of common stock. When dividends at the ‘it on Site fee ae all of the preferred stock for the elapsed dividend period and for the current period shall have been declsred and become payable and shall have