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[Hamilton Manufacturing Company meeting minutes, 1941-1947]
(1941-1947)

1941


47;,000 oi undistribute: eria fUor 1 41, rn .nlso a balance
Sthe earned surplus account; that no dividend can be declared
n the Common stock until after the Class A Preferential Partici-
pating stock has received a total dividend out of 1941 earnings
of $1 Der share. Followinr a discussion, Director E.P.Hamilton
offered the following resolution:
"WHEREAS, it appears that net earnings of the cor-
poration for the first half of the year 1941 will be
in excess of $175,000 after depreciation, bond interest
and estimated taxes on income, and
WHEREAS, all accumulated dividends on the First Pre-
ferred stock of the cornoration have been paid to date
and quarterly dividends have been paid on the First Pre-
ferred and Class A Preferential Participating stocks of
the corporetion to March 31, 1941, and
WFEREAS, a quarterly dividend of l% on the First Pre-
ferred $100 par stock and a quarterly dividend of 25/
-r share on the Class A Preferential Particinating
atock rould require aoroximnately $16,717.50, leaving
.i excess of $140,000 of undistributed earnin's for 1941
A. also a balance in the earned surplus account, now
t.erefore,
BE IT RESOLVED, that this corpora tion nay a dividend
of 1*%, payable in cash, on the outstanding First
Preferred $100 par value stock of the cororation,
this cash dividend bein paid on June 30, 1941   from
earnings of the year 19 1, to all stockholders of
record at the close of business on June 21, 1941,
said dividend covering the period from April 1, 1941
to June 30, 1941.
RESOLVED FURTHER, thqt this cornoration pay a dividend
of 25 per share, payable in cash, on the outstanding
Class A Preferentil Participating stock of the coroora-
tion, said cash dividend being paid June 30, 1941, from
earnings of the year 1941, to all stockholders of record
at the close of business on June 21, 1941.
RESOLVED FURTHER, that the Treasurer be andhe hereby


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