Salt Lake Telegram | 1933-06-24 | Page 3 | Colonial Loan & Building Stock Increase Voted

Colonial Loan Building Stock Increase Voted OGDEN Stockholders OGDEN Stockholders of ot the Colonial Co Co- lonial Building and Loan Lonn association of Ogden at a meeting Thursday unanimously adopted a corporate amendment increasing authorized authorised stock lock issues of the company from to Approximately Approximate Approximate- ly y 97 per cent of all outstanding shares hares were represented at the meet meet- ing The amendments will be filed with the he county clerk Saturday The total amount of stock authorized author author- zed Includes Inv investment took stock and of stock representing permanent capital As a result of ot the adoption of these amendments the association will be changed hanged from a n certificate to a stock I I plan lan on its investment liabilities and thus hus remove undue penalties to in in- estors for occasional failure to make agreed greed payments laws By-laws were adopted which provide pro pro- vide Ide for the setting up of at adequate reserves and future participation by byall nIl all 11 holders of outstanding stock Inthe in inthe the he profits available for distribution as dividends on a basis bosis of equality At a directors' directors meeting held Immediately immediately imme- imme following the stockholders' stockholders gathering payment of the earnings at t the u usual ual rate for tot the current six six- month period was authorized I. I