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Show 49 the Company from 3&00,000 to $600,000 and decide on the m6thod of disposing of the increase. The ygsscsETARi ‘i~AUTHORIZEDyTO reason for the increase in Capital Stock was that ‘gwATTEND SPECIAL .§.sT00KH0LDERsa practically all fire insurance companies were now g» MEETING OF p" UTAH HOME FIRE extending their policies to cover automobile, sire W= INSURANCE 00M- »9_ PANY WITH POWER crart, motor vehicle, windstorms, earthquakes, riot 2 TO vows UNIVER- SITY STOCK and civil commotions, and also to protect owners of automobiles from loss by fire; theft, collision and liabilities from property'damage and for loss on common carriers. IThe law in some states where the lcompany is doing business requires $600,000t00 paid capital to qualify it to trite these various classes of hazardsv' ' N I On motion of Regent Williams, the Secretary was authorized to attend the Special stockholders9 meeting with the power to vote the ten shares of stock held by the University of Utah, Mary P. Carl- son Fundo Motion was seconded by Regent Hughes and carrieda The Secretary reported that Quarterly Income Shares, Inc. was requesting that stockholders send to the Company their stock certificates to be ex: 3; TREASURER tn AUTHORIZED changed for new shares of stock having a par value "‘-T0 EXCHANGE ; QUARTERLY IN~ . COME SHARES CERTIFICATES of 10¢ instead of ls per share, and that the fractional share be liquidated in cash at its book value at the close of business on the next full business day following receipt of transmittal letter and certificatea On motion of Regent Hughes, the Treasu- rer was authorized to transmit to the Company |
