Arizona republican. [volume] (Phoenix, Ariz.) 1890-1930, 1901-12-26

| ness.
To borrow money. to make and issue
promissory notes, bills of exchange,
bonds. debentures and evidences of in
| debtedness of all kinds. whether Sc
cured by mortgage, pledge or other
wise and to secure the same by mort
gage, pledge otherwise; provided
however. that the Indebtedness or this
corporation shall not. at any time. ex-
coed in amount sum equal 10 Two
| thirds of the par value OF the STOCK OF
the corporation then issued and out
standing.
And generally to do any or all OF the
things in this certificate set forth as
objects, purposes, powers or otherwise
necessary, convenient or incident to
said objects. purposes, powers or oth-
erwise, or to the conduct of the busi-
ness or affairs of the corporation, to
the same extent and as fully as natural
persons might or could do, and in any
| part of the world. as principals. agents.
| contra tors, trustees or otherwise.
Third.
The place where the principal bust
ness of this corpor ton shall be trans
acted within the Territory of Arizona
| is Phoenix in the County of Maricopa,
in said Territory. but an office or offices
may be located at Boston, in the
County of Suffolk. and Commonwealth
] of Massachusetts. and in such other
place or places as the Board of Direc-
tors may from time to time determine.
at which office or offices any or all
meetings of the stockholders and di-
| rectors may be held: and any or all
business of the corporation may be
transacted.
Fourth.
The term for which this corporation
shall exist shall be twenty-five COD
years, beginning on the first day OF
December. a. D.. 1901. and expiring on
1926.
The number of Directors of this cor
poration shall be five. and the names
and residences of such who are to serve
until the election OF their successors
are as follows
Names. Residences
| Edwin A. Hall, Hyde Park. MASS
William Galietly, Maiden. Mass.
c. Henry Kimball, Chelsea. Mass
George H. Burrows, Somerville. Mass.
Arthur r. Torrey Newton. Mass.
| Sixth.
The amount of the capital stock OF
this corporal ton shall be and is one
million Q,c0o. GOOD dollars divided into
one million Q.000.0O0) shares of the par
value of one dollar each. five hundred
|
shall be and is preferred stock and five
hundred thousand (50e. O0O shall be and
is common stock. all of which stock,
both preferred and common shall have
equal voting powers. and shall be full
paid and non assessable. az issued
Seventh.
| The holders of said preferred stock
shall be entitled to receive in each
year. out of the accumulated profits of
the corporation. in excess of such sum,
if any as shall have been fixed and re-
served as working capital. non
cumula tive dividend of six per cent.
payable quarterly, half yearly. or
yearly, as the Directors may from time
10 time determine. before any dividend
shall be set apart or paid on the COM
mon stock of the corporation II the
accumulated profits in excess of the
sum fixed and reserved as working
capital shall not be sufficient to pay,
in any year. a dividend of six per cent
on said preferred stock. then such divi-
dent shall be paid thereon as such eN-
cess of accumulated profits will suf-
flee to pay; but the dividends thereon
shall not be cumulative but shall be
payable for each year only out of the
accumulated profits in excess of the
sum fixed and reserved as n working
capital, and not out of accumulated
profits of any subsequent year or
years.
Eighth.
The holders of said common stock
shall be entitled to receive, in each
year, out OF the accumulated profits of
the corporation in excess OF such
amount as shall be necessary for the
payment of dividends on said preferred
stock as above set forth and provided,
a non-cumulative dividend of six per
fa~l.r ~
yearly as the Directors may from time
to time determine; if the accumulated
profits in excess of the amount neces-
sary to pay said dividends on such pre-
ferred stock above provided, shall
not be sufficient to pay. in any year,
dividend of six per cent on said COM
mon stock as above provided. then
such dividends shall be paid thereon
as such excess of accumulated profits,
in excess of such amount as is neces-
sary to pay said dividend on said pre-
ferred stock. will suffice to pay.
Ninth.
If the accumulated profits OF the cor
poration, in any year. shall exceed i'll
amount a sum necessary to pay said
dividends on said preferred stock and
on said common stock, as above pro-
vided. such excess may be set apart
and paid out in dividends. share and
share alike on all stock of the corpora
\ tion. both preferred and common. as
the directors may from time TO time
determine.
Tenth.
1t is expressly stipulated and agreed
that the private property of the corpo-
rators and stockholders of this corpo-
ration shall not. in any event, be or be-
come liable in any manner for any in
debtedness or liability of this corpora
ton.
IN WITNESS WHEREOF. We have
hereunto set our hands this twenty
fifth day of November. in the year of
our Lord. one thousand nine hundred
and one.
/ CHARLES HENRY KIMBALL.
WILLIAM GALLETLY.