INDUSTRIALS
197
DIRECTORS
William E. Boeing, Chairman, Seattle, Kenneth R. Kingsbury, Pres. Standard
Wash. Oil Co. of Calif.
Charles W. Deeds, Sec'y.-Treas. Charles K. Knickerbocker, Vice Pres.
Edward A. Deeds, Chairman Niles-Be- Griffin Wheel Co.
ment-Pond Co. William B. Mayo, Chief Eng. Ford Mo-
Arnold C. Dickinson, Pres. Sikorsky tor Co.
Aviation Corp. Joseph F. McCarthy, Controller.
Thomas F. Hamilton, Chairman The George J. Mead, Vice Pres. The Pratt
Hamilton Standard Propeller Corp. & Whitney Aircraft Co.
J. H. Hillman, Jr., Chairman Hillman Gurney E. Newlin, of Messrs, Newlin
Coal & Coke Co.
fils & Ashburn, Los Angeles.
Frederick W. Jackson, of Messrs Frederick B. Rentschler, Pres.
Shearman & Sterling. o i r N
Philip G. Johnson, Vice Pres. Gordon S. Rentschler, Pres. The Na-
Charles F. Kettering, Vice Pres. Gen- tional City Bank of New York.
eral Motors Corp. Chance M. Vought, Vice Pres.
GENERAL COUNSEL: Shearman & Sterling, New York.
GENERAL AUDITORS: Allen R. Smart & Co., New York.
Fiscal Year Ends: Dec. 31. Annual Meeting: Last Tues. in April.
CAPITALIZATION, As of Dec. 31, 1929
Par Value Authorized Outstanding
6% Cum, Pref. Stoc: sags 300 $50.000,000 $12,000,000
Common Stock ......... _.ccceeeeeneeeneen....No Par 2,5000,000 shs 1,837.842 shs
146,528 shares Common stock reserved for Stock Purchase Warrants attached
to Preferred stock.
i. 6% CUMULATIVE PREFFYRRED STOCK, SERIES A
Provisions: Entitled to cumulative
dividends of $3 per share per annum;
is preferentially entitled to $50 per
share in case of involuntary distribu-
tion of capital assets and $55 per share
in case of voluntary distribution, in
each case plus accumulated unpaid di-
vidends.
Warrants: Certificates of 69% Cumu-
lative Preferred stock, Series A, ac-
companied by Stock Purchase War-
rants, non-transferable apart from such
certificates, entitling holders to pur-
chase at any time on or before Nov. 1,
1938, upon cash payment of $30 a share,
Common stock of the corporation at
the rate of one share of Common for
each two shares of such Preferred
stock. In case of redemption of any
shares of such Preferred stock prior to
the exercise of the Warrants, a de-
tached Warrant, transferable by deliv-
ery, will be issued, evidencing right to
purchase half a share of Common stock
with respect to each share of Preferred
stock so redeemed. Scrip certificates
issued representing fractional shares.
Callable: In whole or in part, on any
dividend date, upon 30 days’ notice, at
325 per share plus accumulated divi-
endas.
Priority: So long as any of Cumula-
tive Preferred stock remains outstand-
ing, no stock of any class shall be cre-
ated ranking prior thereto with respect
to dividends or distribution of assets,
and, unless authorized by vote of a
majority in interest of outstanding
Cumulative Preferred stock, no stock
may be issued ranking equally with
the Cumulative Preferred stock in
either such respect.
Voting Rights: If and so long as the
payment of regular quarterly dividends
shall be in arrears one year, then hold-
ers of Cumulative Preferred stock (of
all series) will have full voting rights,
ach share of Cumulative Preferred
stock having such number of votes (but
n no case less than one vote) as shall
Je equal to the quotient derived from
lividing the aggregate number of
shares of Cumulative Preferred stock
cutstanding, into the total number of
votes to which the outstanding shares
>f any other class or classes of stock
hen having voting powers and ranking
*ither on a parity with or junior to the
Cumulative Preferred stock may be col-
lectively entitled.
Dividends on Junior Stocks: The
rorporation will not pay any dividend
>n any class of stock ranking junior
‘0 the Cumulative Preferred stock, if
‘he aggregate amount of such dividend.
vhen added to the aggregate amount
>f any and all dividends paid on any
xlass junior stock prior thereto but
ifter Nov. 1, 1928, shall exceed the
tmount of consolidated earned surplus
»f the corporation and its subsidiary
zompanies earned subseauently to Nov
1, 1928.
Amendments: The general provi
sions of the Certificate of Incorpora-
tion relating to the Cumulative Pre-
‘erred stock as a class may be amend-
>d only upon the vote of two-thirds in
nterest of the Cumulative Preferred
stock, irrespective of series: and the
drovisions peculiar to the 6% Cumula-
:ive Preferred stock, Series A, may be
imended only upon the vote of two-
thirds in interest of the Cumulative
Preferred stock of such series.
Tax Status: Company pays normal
Tederal income tax up to 29%.
Dividends: $3 per annum payable
juarterly, Jan.,, Apr., July and Oct. 1,
paid regularly from Apr. 1, 1929.
Ex-Dividend Date: 10th of month
receding pavment.
