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[Hamilton Manufacturing Company meeting minutes, 1926-1941]
(1926-1941)

1940


_r
lividend on the Class A Preferential Participating stock
cf the company would require approximately $16,717.50. Fol-
lowing a discussion Director E. P. Hamilton offered the follow-
ing resolution:
"WHEREAS, it appears from the comptroller's financial
reports for the two 4-week accounting periods ending
February 24, 1940, that net earnings, after deprecia-
tion, bond interest and expenses, and taxes on income
amounted to approximately $50,000, and
WHEREAS, the comptroller's financial report for the
year ending December 31, 1939 showed a balance in
the Earned Surplus account of $86,894.10, and
WHEREAS, all accumulative dividends on the First
Preferred stock of the corporation have been pad
and the Class A Preferential Participating stock-
holders have been paid all dividends to which they
are entitled to December 31, 1939, and
WHEREAS, a quarterly dividend of $1*75 per share on
the First Preferred stock and a quarterly dividend of
25 per share on the Class A Preferential Participating
stock would require approximately $16,717.50, now
therefore,
BE IT RESOLVED, that this corporation pay a divi-
dend of $1*75 per share, payable in cash, on the
outstanding First Preferred stock of the corporation,
said cash dividend being paid on March 30, 1940 to
all stockholders of record at the close of business
on March 20, 1940, said dividend covering the period
from January 1, 1940 to March 31, 1940.
RESOLVED FURTHER, that the corporation pay a divi-
dend of 25 per share, payable in cash, on the
outstanding Class A Preferential Participating stock
of the corporation, said cash dividend being paid
on March 3D, 1940 to all stockholders of record at
the close of business on March 20, 1940 from earn-
ings of the year 1940.
RESOLVED FURTHER, that the Treasurer be and he hereby
is authorized and directed to pay or cause to be paid,
said $1*75 per share on the First Preferred stock and
`5 per share on the Class A Preferential Participating
stock of the corporation on March 30, 1940 to all
stockholders of record as of March 20, 1940."
Adopted.


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