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Collection: Original Records > Articles of Incorporation

Grass Valley Hotel Corporation (AI-G123) (1917) (4 pages)

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Sixth. That the amount of capital stock of said corporation ig SEVENTY FIVE THOUSAND (75000) Dollars divided into SEVEN HUNDRED AND FIFTY (750) shares of the par value of one hundred (100) Dollars each, provided taat there shall be six hundred (600) shares of common stock and one hundred and fifty (150) snares of preferred stock. The nature and extent of the preference granted to tne one hundred and fifty (150) snares is as follows:— That tne holders of such preferred stock shall be entitled to receive from the surplus wnet prorits arising from the business of the corporation a fixed yearly dividend of six per cent, payable semi-annually on the second days of January and July in each year, before any dividends shall be set apart or paid on the said common stock. Should the surplus or net profits arising from the business of the corporation, prior to any dividend day, be insufficien to pay the dividend upon preferred stock such dividend snall be payable from future profits and no dividend shall at any time be paid on common stock until the full amount of six per cent per annum up to that time upon all the preferred stock shall have been paidi:or set apart. The holders of preferred stock shall be entitled to no dividends beyond the six per cent aforesaid. Séventh: That the amount of said capital stock which nas been actually subscribed is five hundredl(500) Dollars consisting of five(5) shares of common stock of said corporation and following are the names of the persons by whom the same has been subscribed and the amount subscribed by each of them, to wit:NAME . NUMBER OF SHARES AMOUNT George W. Starr 1 $100.00 CE. Clinch 1 100.00 C. H. Taylor 1 100.00 D. EB. Morgan . 1 100.00 0. A. Brockington, 1 100.00 In a WHEREOF we have hereunto set our hands and sealsLF Y. A this && day of February 1917.