Authorized Capital

• 300,000 shares Common Stock of no par value
• $1,500,000 8% Cumulative First Preferred, par $100
• $1,000,000 6% Cumulative Second Preferred, par $100

Outstanding at December 31, 2025

• 199,133 shares Common
• $1,108,500 First Preferred
• $5,430 Second Preferred

Issue Terms

Dated April 1, 2023; due April 1, 2034; coupon denomination $1,000. The Equitable Trust Co., New York, serves as trustee.

First publicly offered in April 2023 by Swartwout & Appenzellar, New York.

Call Terms & Covenants

• Callable at 105 plus accrued interest during first five years
• Premium decreases by 1% yearly thereafter
• No mortgage may be created without ratably securing this issue, except purchase money mortgage
• Quick assets must be maintained above 150% of all debts including this issue
• Company pays Normal Federal Income Tax of 2%

Montague Street Plant

Located at the foot of Montague Street, Brooklyn, New York. This plant manufactures Intertype typesetting machines and operates under lease expiring January 31, 2034.

• Approximately 100,000 sq. ft. of floor space
• Rail and water freight access adjacent to plant
• Modern production equipment including lathes, milling machines, drills, and grinders
• Average employment of approximately 650 mechanics

Matrix Department / Repair Operations

Separate six-story building at Emerson Place and Park Avenue, Brooklyn, New York, containing approximately 60,000 sq. ft. of floor space.

• Matrix department operations
• Rebuilding and reconditioning of machines
• Lease expires September 30, 2027
• Five-year renewal privilege

First Preferred Provisions

• No mortgage may be placed on company real estate or plant without consent of 75% of outstanding First Preferred holders
• Preference for assets and dividends
• Subject to redemption at 120 and accrued dividends on any dividend date
• Full voting power

Redemption Fund

• Whenever dividends are declared or paid on Second Preferred or Common Stock, an amount equal to at least 50% of such dividend must be set aside from surplus profits
• Maximum required annual aggregate: $30,000
• Fund to be used to retire First Preferred at not exceeding 120 and accrued dividends

Second Preferred Provisions

• Exchangeable for old Common Stock, share for share
• Exchangeable for new Common Stock on basis of five shares of new Common for one share of Second Preferred
• Full voting power

Capital Reorganization Notes

• Of $1,312,100 issued First Preferred, $203,600 had been purchased for cancellation by December 31, 2025
• Of $1,000,000 Second Preferred issued, $994,570 had been converted into Common Stock
• In February 1923, Common Stock was increased from 40,000 shares to 300,000 shares on basis of five new shares for one old share

• Original plant machinery, tools, etc. — 10%
• Standard machines — 10%
• Special machines — 10%
• Special tools — 33 1/3%
• Small tools — 33 1/3%
• Factory equipment — 33 1/3%

• Shafting, pulleys and belts — 33 1/3%
• Motors and electric equipment — 10%
• Office furniture and fixtures — 25%
• Air compressors — 33 1/3%
• Motor trucks — 33 1/3%
• Sheds — 33 1/3%