The stockholders' equity section of the Starr Corporation at December 31, 2003. included the following: 6% preferred stock, exist100 par value, cumulative. 10,000 shares authorized, 8,000 shares issued and outstanding .... exist 800,000 Common stock, exist10 par value, 250,000 shares authorized, 200,000 shares issued and outstanding ......................... exist2,000,000 Dividends were not declared on the preferred stock in 2003 and are in arrears. On September 15, 2004, the board of directors of the Starr Corporation declared on the preferred stock to stockholders of record on October 1, 2004, payable On October 1, 2004. November 1, 2004, the board of directors declared a exist2.00 per share dividend on the common stock, payable November 30, 2004, to stockholders of record on November 15, 2004