Federal Register - February 1, 1939
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Source: Federal Register
FEDERAL REGISTER, Wednesday, February 1, 1939
After appropriate notice,1 a public hearing having been held on said decla ration, and being continued with respect to a related application and a related declaration, and the Commission having considered the record in this matter and having made and filed its findings herein;
It is ordered, T hat the declaration with respect to the alterations of the rights of the outstanding 6% cumulative preferred stock and said common stock be and become effective forthwith;
It is further ordered, That this order be subject to the following terms and conditions:
14 F. R. 190
d i.
1 That all matters in connection with said declaration shall be performed in all respects as set forth in, and for the purposes represented by, said decla ration ;
2 That so long as declarant has out standing any serial preferred stock, as described in the proposed amendment to its articles of incorporation, declarant shall create no reserve of the nature re ferred to in Article Fourth e thereof other than that already existing and described in the declaration as Reserve for Contingencies provided from Capital Surplus otherwise than out of earned surplus, without the express approval of this Commission;
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3 That no charge shall be made against said Reserve for Contingencies provided from Capital Surplus unless in accordance with this Commissions Classification of Accounts for Holding Companies and good accounting prac tice, and after thirty days notice to this Commission that declarant proposes to make such charge; and 4 That the Commission reserves ju
risdiction with respect to all other m at ters in the above captioned proceedings.
By the Commission.
seal
F rancis P . B rassor ,
Secretary.
P. R. Doc. 39-356; Piled, January 31, 1939;
11:14 a. m.
