Preferred stock can be issued only when authorised by the charter of the company.
If he had been straight, we could have saved that preferred stock.
At first, when only preferred stock was issued, the bonus was $5.00 a year.
The ratio of the preferred stock to the common was as 78 to 40.
"Either forty cash with no bonus for your services, or fifty in bonds with the preferred stock for you," I answered shortly.
Fifty thousand cash and ten thousand shares of preferred stock—hundred dollars par.
Not the preferred stock of the whole system would have availed at that moment to induce an inspection of Nine Mile shed.
This disposed of the 125,000 shares of preferred stock in the second company.
The preferred stock of the different companies has now been given voting power which was denied it under the old organization.
The question arises, is the holder of a 7% preferred stock in a position to demand that the dividend be paid the following year.