Arizona daily citizen., 1901-04-17

To aeouirc and dispose OF real estate
when necessary for or incidental to the
carving on of the business OF the corpo-
ration; to establish and maintain pipe
lines. and tram and rail ways, and to
acquire rights of way, easements, or
franchises therefor.
To maintain tankage or storage Tor
the storing of any of the products OF the
corporation, or of any oil produced from
or developed in the earth, whether the
same shall belong to said corporation
or not. =,
Third. That the amount of capital
stock authorized is $3.50, 100000 and the
number of shares into which it shall be
divided is $500, of the par value OF
$4,000 each. -,
That of said stock 600O shares shall
| be common stock and 500 shares shall
be pre- erred stock. That said common
stock shall alone be voted, and said
preferrcd stock shall have no voting
| power. -,
That Of the net earnings there shall
yearly be apportioned one-half to the
common stock, and onc-half to the pre-
ferred stock. On the preferred stock there
shall be paid yearly dividends at the rate
of six per cent. per annum, but said dl-
vidends shall be paid only out of the halt
of said net earnings to be apportionedt to
said preferred stock. If, during any year,
there shall be a lack of earnings sufficient
to permit pavment of said six per cent.
dividend to the preferred stock holders,
then, anv deficiency shall be made mp
from the dividends of succeeding years.
If, after all dividends due upon the pre-
ferred stock shall have been paid from
said one-half of the net earnings to be
apportioned thereto, there shall remain
any surplus, then the corporation shall,
on demand of any preferred stockhoider,
redeem such pro rata portion OF his hold
ing of preferred stock, as the amount OF
such balance will permit. If any balance
of the profits apportioned to the prefer
red stock shall remain unappropriated
to the holders thereof three months at
ter notice that the same is available for
redemption of preferred stock, then said
balance may be diverted to such use OF
the corporation as the Board of Direct
ors NAV deem prudent. But said pre-
ferred stock shall not participate in the
earnings of the corporation in excess ofa
dividend at the rate of six per cent. year
ly.
Upon the termination of the corporate
life of this corporation, by limitation, or
from auv cause whatsoever, all preferred
stockholders shalt, out of any assets of
the corporation available for distribu-
ton among the stockholders, first be
paid the par value of the preferred stock
held by them, before any distribution of
said assets shall be made to the holders
of common stock.
Fourth. All of said stock shall be full
paid and worcestershire. All of said
common stock and said preferred stock
shall be paid in upon the issuance there
of.
Fifth. That the time Of the commen-
cement of this corporation shall be Feb
ruary Il 1901, and its corporate life
shall endure for the period of twenty-five
years thereafter.
Sixth. That the highest amount of in
poration shall at any time he subject,
shall not exceed the net assets of the
corporation at said time.
Seventh. That the private property
of each officer and stockholder of said
corporation shall be exempt from liabil-
ity for corporate debts.
Eighth. That the affairs of the cor
poration shall be directed bv board of
5 directors, who shall be elected at the
annual meeting of the stockholders, to
be held on the first Tuesday after the
second Monday of each year after the
year 1901; but it. before said meeting is
called, two-thirds of the capital stock
having n vote, shah in writing, to be
kept on file with the secretary, have
requested that no election be held for
the ensuing year, then the Board of Di-
rectors then in Office shall hold over
until the next election. But until the
first annual meeting of the stockholders
under these Articles, and until their sue
cesSors shall have been elected and shall
have qualified, the following are hereby
selected and appointed to serve as Di-
rectors for the corporation, to wit:
| Witness the hands and seals of the
incorporators this 1lth day Of February
| 1901.
EMMETT DENsMoRE
L. ]. STABLER
G.. s. Horror
DARLOT DENSMoRE
WM. II. BERNARD.
Ten cent Revenue Stamp cancelled.
STATE OF CALIFORNIA,
County of Los Angeles. -
On this 11th day of February, 1901,
before me, W. c. Petchner, a notary
public in and for Los Angeles county.
California, personally appeared Emmett
Densmore, l.. j. Stabler. VIM. Fl. Bar
nard, Darlot Densmore and G.. l.. Hol-
ton, personally known to me to be the
persons whose names are subscribed to
the foregoing instrument, and acknewl
edged to me that they executed the same
tor the purpose and consideration there
in expressed.
Given nndcr my hand and seal of Office
this 1th day of February, 1901.
(Notarial SeaD w. PETcuNER.
Notary Public in and for Los Angeles.
County, Cal.
len cent Rev. stamp cancelled.
TERRITORY OF ARIZONA,
County of Pima. sS
!, Chas. A. Shibel, county recorder in
and tor the County of Pima, Territory
OF Arizona, do hereby certify that the
above and foregoing is full, true and
correct copy of the original articles of
incorporation of Densmore-Stabler Re.
fnlng Company as the same appears on
record in my office in book Two of In
corporations at page 226 records of said
County OF Pima, Territory of Arizona
as recorded February 10, 1901.
In witness whereof | have hereupto
set my hand and seal of office this 13th
day OF February 1901