Arizona daily citizen., 1901-01-07

stock as herein declared.
Dividends on the preferred stock shall be
paid out OF the surplus net earnings of the cor
poration, when earned, semtannually.
The board OF directors may in their discre-
ton declare dividends among its stockholders
out OF its accumulated mel profits, and after
the payment of all interest on its preferred
STOCK, AT any regular or adjourned meeting of
the said board during the mouths 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 of its net profits subject always to the prior
rights OF the holders OF the preferred stock rs
herein declared.
Fourth The time of the commencement OF
this corporation shall be the 2Sth day OF De-
cember, 4. d. $780, and the termination shall
bt twenty-five years frem that date.
ruin The Affairs OF THIS corporation are to
b. conducted by the following officers, to-wit;
by board Of five directors, IRON whose num-
Der shall be duly elected from time TO time,
the president, the vice-prcsident and the trea-
surcf, oi thiscorporation. The board of direc-
tors shall be elected by the stockholders OF the
corporation within thirty days from the exc
cntion OF these presents. aud shall hold office
unlli 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 stock holders, or until
their successors shall be elected and qualify
and the board ofdirectors shall have the power
TO NIL any vacancy or vacancies therein which
may result from the death, resignation dfsabi-
lily or removal for cause of any Of its members.
The board of directors by resolution passed
by majority OF the W hole board may design
ate three or more directors ionc of whom shall
be presidenti to constitute an executive com
mittee, which committee, to the extent proei.
ded III said resolution OF in the bylaws OF the
corporation shall have and may exercise, the
power oil the board of directors in the manage
ment oil The business and affairs OF the corpora
ton and shall have power To authorize the seal
oi the corporation to be affixed TO all pape RI
which may require it.
The board of directors from time to time.
shall determine whether and to what extent,
and al what times and places, and under what
| conditions and regulations, the accounts and
booss OF the corporation or any of them, shall
| be open to the inspection OF the stockholders
ana no stockholdeF shall have any right of in
| speeding any account or book document of
| the corporation. except as conferred by statute
or authorized by the board OF directors, or by
| a resolution OF the stockhol iers.
| 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.
| Etghth:-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 hereuuto placed
our hands and seals this 18th day OF December,
| A. d. 1900
| ARTHUR c, SrnKINs (sean
fHos. L. TEAGARDES {SeaD
| ALEx MCKAY, {SeaD
| TERRITORY OF ARIZONA, ss
| County of Pima. SS
! Before me, Jno III Martin Notary Public in
| and ior the County OF Pima, Territory OF Ari.
| zona, on this day personally appeared AT.
thur G. simkins. Thos +. Teegarden and Alex
Mckay known to me 10 be the persons whose
names are subscribed to the foregoing instru.
| ment, acknowledge to me that he executed the
(, same far the purpose ard consideration there
| in expressed.
| Given under my hand and seal OF office, this
18th, day Of December, A. b. 1900.
I Notary Seal J. II. MARTIN,
! Notary Public
/ My commission expires March SIst 1898.
First pub Jsn,2 1901 last pub, Jan. 5. 1901