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RESOLVED that there is hereby declared a dividend of $3.50 a share upon all shares of the Cumilative $7 First Preferred Stock of this Corporation outstanding at the close of business on July 1,1929, to the holders of record of such shares of stock at such time, such dividend to include all holders of such stock who shall have become such by surrender of their certificates of Preferred Stock in exchange therefor, on or before the close of business on that date pursuant to the plan approved by the stockholders of this Corporation at their special meeting held on June 4th, and adjourned until June 10th, 1929.