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<br />- � 4SB4-STA7'E JOURNAL COMPANY,LINCOLN,NEB �, �� � � � � �"���-°-"
<br /> A(�REE�E�1T OF CONSOLIDATION
<br /> (A� AGREk��ENT OF CONSOLIDATION B�Tw�EN CONTINENTAL AND COM"�iERCIAL NATIONAL BANK OF CHICA(�Q,
<br />, OF CHTCAG4,�LLINOIS,AND C4NTINENTAL AND CO�Ia?ERCIAL TRUST AND SAVINGS BANK,OF CHICAGO,ILLI-
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<br /> � NOIS,UN�ER TITLE OF CQNTINENTAL NATIONAL BANK AND TRUST OO�dPANY OF CHIOAQO.
<br /> THIS AGREE�IENT ,made hetween Ct3NTINENTAL AND C4�d�dERCIAL NATIONAL BANK �F GHICAGO,a banking
<br /> association organized under the laws of the United States of llmerica,and CONTINENTAL AND
<br /> COM�IERCIAL '�RUST AND SAVINa3 BANK,a banking association incorporated under the lawa of the
<br /> State of I1linoie,each located in Chicago ,Illinois ,and each acting pursuant to a reso lution�
<br /> of its �oard of directare and by a ma�ority of eaid boards ,pureuant to the authority given
<br />' b� and in accor�ance with tne provisions of an Act of Congress of the United 8tates entitled,
<br /> "An Aet to provide for the consolidation of National Banking Assoeiationa, � � proved on the
<br /> 7th day of November ,191� ,as amended 4n the 25th day of February,1927:
<br /> �fITNESSETH,as follows;
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<br /> 1.The Cont�nental and Commercial^Bank of Chicago �hereinafter referred to as the '�Nation-
<br /> sI Bank"-) ,and the :�ontinental and Com.nercial True� and Savings Bank (hereinafter referred to
<br /> as the "3tate Bank"} ,are hereby consolidated under the oharter of said firstnamed Associatioxt
<br /> as hexeby modified.
<br /> 2. Th� name of the coneoZidated Association shall b� CONTINENTAL NATI4NAL BANK AND TRUST
<br /> CO�iPANY QF CHICAGO.
<br /> 3.The amoun� of capital stock of the con� lidated Association ehall be Thirtsy --fi�r�
<br /> Million Dollars (�35 ,00� ,000. ) ,divided into three hundred and fifty thousand (350,000j sharea
<br /> of On� Hundred Dollars (�100. ) eaeh,sub�ect to the right to change the amount of ssid c�,pital
<br /> hereafter ,as ie now or ahall hereafter be authorized by law. On �he d ate of conBralidation,
<br /> its surplus shall be 2hirty Million Dollare,(�30,000,000. ) ,and its undivided profits not leae
<br /> than Three Million �ollars (�3 ,000 ,000. ) , Said capital,8urplus and undivided profits at th�
<br /> da.�s_ of consolidation sha12 then ag�re�ate not less than 8iaty-eight Million Dollars
<br /> (�6� ,000 ,000. j .
<br /> Of t�is capital three hundred thousand (300 ,400) shares shaZl be allotted to the present
<br /> shareholders of the National Bank ,being one and one-fifth (�=1/j)� shares for each share now
<br /> held by them,and fifty thousand t5Q,000) sharea shall be allotted to the presence shar�-
<br />� ho2ders of the State Bank,being one share for each shaxe now held by them.
<br /> i The a�s�ts contributed by eaeh of said Association shall upon the effective date of the
<br /> I consolidation be passed upon and �be aac�ptabl� to a oommitte� of six,three to be appoint�d
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<br /> by the bca rd of directors of each Association,and the shareholders of the present National
<br /> I � Bank shall furnish net assete abare all liabf,lities of that Association equal to � proximatel
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<br /> j seventy-five ( 75�0) pe r cent of the oap,�tal and surplus and undivided profits of the condo-
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<br /> i Iidated bank,and the presence ahareholders of the 9tate Bank shall furnish net assets equal
<br /> ii to ap�ro�imately twerrty-five (25�) per cent of the capi�al ,surplus and undivided profits
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<br /> ; of the consolidated bank. Such ae�sets of either Aseociation ,as it s hall not consider desirabl
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<br />, � to carry into the consolidation,or as shall not be necesBary to mak� up its contribution to
<br />� ; the cap.i�al,surplus and undivided profits,as aforesaid,shall be transferred by it before
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<br /> I �he effective date of the aonsolidation to a Trustee or Trustee,a for the ul�imate benefit
<br /> of its sharehalders ,upon w�atever terms and un3er whatever conditions shall be deemed proper.
<br />_ In the event that there are not aufficient net assets in either Asaociation to make good its
<br /> proportion of capital and surplus and undivided profits of �6� ,000 ,000. herein provided for,
<br /> the sharehold�rs of the Association not having sufficient ass�te to make good its proportion
<br /> shall pay the difference in caeh.
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