Dividends and Financial Matters. — Dividends are declared by resolution of the board of directors out of the net earnings of the corporation. Such a resolution may simply set aside and appropriate a stated sum to be used to pay a stipulated dividend on all classes of stock outstanding, or it may declare a dividend of a specified per cent to be paid out of the net earnings on each class of stock, respectively. In any case it should direct the treasurer to give notice of the dividend and to pay it when it is due to stockholders of record as of a specified day. FORM 45 DIRECTORS' RESOLUTION DECLARING DIVIDEND Resolved, That the sum of Five Thousand Dollars ($5,000) be and hereby is appropriated and set aside from the surplus profits of this company for the payment of the regular One and Three Quarters Per Cent (14%) quarterly dividend upon its outstanding stock, said dividend to be due and payable on the 1st day of April, 1921, to the stockholders of record as shown by the books of the Company at the close of business on the 15th day of March. Resolved Further, That the Treasurer of this Company be hereby authorized and instructed to give due notice of such dividend and to pay the same when due. FORM 46 RESOLUTION DECLARING DIVIDEND ON PREFERRED STOCK ONLY Resolved, That the semi-annual dividend of Three Per Cent (3%) upon the outstanding Preferred Stock of the Company be and hereby is declared from the surplus profits, said dividend to be paid on the first day of December, 1920, at the Liberty National Bank, 120 Broadway, New York City, to holders of record at the close of business, Thursday, November 11, 1920, and that the Treasurer of this Company be hereby instructed and fully authorized to give the same on the date set forth. If the stock has no par value the resolution states the amount of the dividend to be paid on each share in dollars and cents as follows: . Resolved, that a regular quarterly dividend of One Dollar and Fifty Cents ($1.50) on each share of Common Stock outstanding be and hereby is declared, payable, etc. FORM 47 TREASURER'S NOTICE OF DIVIDEND AMERICAN HIDE & LEATHER CO. A dividend of 134% has this day been declared upon the preferred capital stock of the company, payable out of the accumulated net profits arising from the business of the Corporation, payable on January 3, 1921, to stockholders of record at the close of business December 11, 1920. FORM 48 GEO. A. HILL, Treasurer. NOTICE OF DIVIDEND IN FORM OF PROPERTY HOCKING VALLEY PRODUCTS COMPANY. Dividend No. 1. The Board of Directors of the Hocking Valley Products Company at a meeting held on October 21st, 1920, have declared out of the net earnings and profits of the company for and during the year 1920 a dividend of 5% upon the capital stock of the Company as now authorized and constituted, such dividend to be payable, however, only in United States of America Fourth Liberty 414% Bonds with coupon due April 15th, 1921, and subsequent coupons attached. The said dividend shall be payable on November 18th, 1920, to the stockholders of record at the close of business on November 8th, 1920. Where the amount of any dividend payment, or any part thereof, is not Fifty Dollars ($50.), or a multiple thereof, payment shall be made in cash on the basis of 90% as the current market price of such goods instead of in said bonds. The books of the Company will be closed on November 8, 1920, and remain closed until the opening of business on November 19th, 1920. Such dividend is payable only upon and in respect to the present authorized capital stock of the company of the par value of $10 each per share, and stockholders having voting Trust Certificates, or former stock of the Company of $100 per share par value, or $20 per share par value, are requested to take proper steps for exchange of such certificates or stock into the present authorized and existing capital stock of the Company. S. L. CHAMBERLAIN, President. FORM 49 FINANCIAL STATEMENT OF A CORPORATION PETTIBONE MULLIKEN Co. General Balance Sheet, December 31, 1918. Corporate Signatures. -In general business transactions the corporation may be bound by the signature of its duly appointed agents in all matters delegated to them. In the more important transactions the "official signature" of the corporation is necessary, and in all legal and formal documents and contracts the "corporate signature" should be used with the seal. FORM 50 OFFICIAL SIGNATURE JULIUS GOLDSTEIN, or more formally JULIUS GOLDSTEIN, President, Fit-Well Clothing T FORM 51 CORPORATE SIGNATURE-INFORMAL FIT-WELL CLOTHING CORPORATION, President, (In the above a rubber stamp is sometimes used and the signature of the president filled in in writing). FORM 52 CORPORATE SIGNATURE-FORMAL (Corporate) (Seal) PETTIBONE MULLIKEN COMPANY, The signatures to formal instruments are usually preceded by a "testimonium clause " as follows: In Witness Whereof, the said Pettibone Mulliken Company has caused its corporate name to be hereunto subscribed by its President and its duly attested corporate seal to be hereunto affixed by its Secretary, all in the City of Chicago, State of Illinois, on the 22nd day of August, 1918. (Corporate) (Seal) Attest Seal: H. R. PREST, PETTIBONE MULLIKEN COMPANY, Sale of Assets and Dissolution. · A sale of the entire assets of the corporation must ordinarily be authorized by a two-thirds or a three-quarters majority of all of the stockholders. Upon such authorization the board of directors will draft and make a resolution to carry out the wishes of the stockholders. |