Dec 19/11  Special meeting of the Board of Director held
           December 19th 1911 at 9:15 A.M. On motion of
           F.B. Wiss - secured by H. Rauh a dividend
           of Ten (10%) percent was declared - payable
           at once out of the surplus of the Company.
           Motion to adjourn carried.

                                             Fanny B. Wiss Sec.