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REORGANIZE NASH MOTORS.

American Government Special Collections Reference Desk

Topics:  Nash

REORGANIZE NASH MOTORS.

The New York Times
December 17, 1922


Stockholders Increase 7 Per Cent.
Preferred Stock to 225,000 Shares.


BALTIMORE, Md., Dec. 16.—Stockholders of the Nash Motors Company, which is incorporated under the laws of Maryland, voted today approval of a recapitalization plan increasing the stock issues of the company. Under the new plan the company will have an authorized capitalization of 225,000 shares of 7 per cent. preferred stock of $100 par value, and 300,000 shares of common stock, without par value. Provision is made for a sinking fund of 2 per cent. for the retirement of the preferred stock.

There is at the present time outstanding 35,000 shares of 7 per cent. cumulative preferred stock which has been called for redemption at 110 on Feb. 1, 1923, and 54,000 shares of common stock without par.



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