Arizona daily citizen., 1901-01-05
ntnck as herein dnclarnd

STOCK as herein declared.
Dividends on the preferred stock shall be
paid out of the surplus net earnings oi the cor
poration, when earned, semtanDually.
The board of directors may in their discre-
tion declare dividends among its stockholders
ont OF its accumulated net profits, and after
the payment of all interest on its preferred
stock, at any regular or adjourned meeting of
the said board, during the months OF June and
December in each and every year or otherwise,
and they may in their discretion declare extra
or additional dividends among its stock holders
out oi its net profits subject always TO the prior
rights OF the holders OF the preferred stock as
herein declared.
Fourth The time Of the commencement of
this corporation shall be the 2Sth day of De-
cember, A. D. 1890, and the termination shall
bc twenty-five years from that date.
Fifth The Affairs OF this corporation are to
be conducted by the following officers, to-wit:
BY board ot five directors, from whose num-
Der shall be duly elected from time to time.
the president, the vice president and the trea-
Surer, OF this corporation. The board of direc-
tors shall be elected by the stockholders OF the
corpora ton within thirty days from the exc
cutl0n of these presents. aud shall hold Office
until their successors are elected and qualified.
Sixth The number of directors at any time
may be increased by the vote of the board of
directors and in case OF any such increase, the
board OF directors shall have the power to elect
such additional directors to hold Office until
the next meeting of the stockholders, or until
their successors shall be elected and qualify,
and the board OF directors shall have the power
TO fill any vacancy or vacancies therein which
may result from the DEATH resignation disAbi-
lily or removal for cause OF any OF its members
Inc board OF directors by resolution passed
by majority OF the whole board. may design
ate three or more directors lone ofwhom shall
De presidentl to constitute an executive COM
mittee, which committee, 10 the extent provi-
ded in said resolution or in the bylaws of the
corporation shall have and may exercise. the
power OF the board Of directors in the manage
nent OF the business and affairs of the corpora
tion ana shall have power to authorize the seal
of the corporation to be affixed to all papers
which may require 1t.
The board OF directors from time to time,
shall determine whether and to what extent,
and at what times and places, and under what
conditions and regulations the accounts and
ooaGs OF the corporation or any of them, shall
be open TO the inspection of the stockholders
and no stakeholder shall have any right of In
speeding any account or book or document OF
the corporation, except as conferred by statute.
or authorized by the board OF directors, or by
u resolution of the Stockholders.
Seventh The highest amount of indebted
ness or liability TO which this corporation Is at
any time to subject itself. is the sum of One
Hundred Thousand Dollars;
Eighth The private property OF the sto k
. holders of this corporation Is to be exempt
| from liability in satisfaction OF corporate
debts.
In witness whereof we have hereunto placed
our hands and seals this 18th day OF December
A. D. 1900
ARTHUR c. SINKINs (Seal)
THos. Z. TEAGARDES tSeall
ALEX MCKAY tSea
TERRITORY OF ARIZONA
county O1 RIma.
Before me, Jno II. Martin Notary Public in
| and for the County OF Pima Territory of Ari-
coma, on this day personally appeared Ar.
| thnrC. Simkins, Thos +. Teegarden and Alex
Mckay known to me TO be the persons whose
| names are subscribed to the foregoing fnstru
| ment, acknowledge to me that he executed the
same for the purpose and consideration there
1 in expressed
| Given under my hand and seal of office, this
: 2sth, day OF December, A. D. 1900,
! NOTARY Seal J. II. MARTIN,
Notary Public
| My commission expires March 3Ist 1903.
First pub. Jan,2 1901 last pub. Jan. $, 1901.