May 31/12  Special meeting of the Board of Director held
           May 31st, 1912 at 9:30 A.M. On motion of H. Rauh
           secured by J.B. Wiss a dividend of Ten (10%) percent
           was declared - payable June 1/12 out of the surplus
           of the Company. Motion to adjourn carried.

                                              Fanny B. Wiss Sec.