Capital Stock:

Authorized Outstanding
($100) 7% Cum. Pfd. .............. 10,000,000 2,500,000
No par Common Stock—1,200,000—A 1,000,000 sh. 100,000
B 200,000 sh. 105,000
Stock Provisions: Preferred stock has preference as to cumulave
 dividends of 7% per annum. Redeemable at $105 per
share.
Class A Stock: After payment of dividends on preferred stock
Class A stock is entitled to cumulative dividends of $2 per
share per annum in cash or the equivalent in stock from
the date of issuance, in preference to Class B stock. Thereafter
 Class A stock shall receive in addition one-half of the
aggregate of the distributed profits and the remaining onehalf
 shall go to Class B stock. Class A stock is non-voting
except in the event of non-payment of six quarterly dividends
 and in that case has voting power equal to the voting
power of preferred stock (if entitled to vote) and/or Class
B stock together as a class. Class A stock is entitled on
dissolution, liquidation or winding up of the company to
accrued unpaid dividends and thereafter to share, share and
share alike, with Class B stock in distribution of the remaining
 net assets.
Transfer Agent: Guaranty Trust Co., N. Y.
Regstrar: Company’s Office.
Dividends: Initial dividend on preferred stock at rate of 7%
from date of issuance to Sept. 30, 1929, paid October 1, 1929.
Regular dividend payable quarterly Jan. 1, ete. No dividends
 have been declared or paid on common.
Admitted to Trading: April 1, 1930.
Market:

High Low
2614 925

Management

Officers: M. A. Kent, Pres.; G. N. Manison, Vice~-Pres.; Willis D.
Porter, Secretary and Treasurer.
Directors: M. A. Kent, G. N. Manison, H. M. Vale, Alfred Ely,
Willis D. Porter, Frank B. Rogers.
Annual Meeting: Third Tuesday in February. Fiscal year ends
Dec. 31.
Office: 350 Madison Ave.. N. Y.

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