Arizona daily citizen., 1901-04-18
Articles Of Incorporation Of the Dcnsmore'
StabIcr Refining Company.

Know all men by these presents: That
we, the undersigned, residents of the city,
and county, of Los Angeles, California,
have associated ourselves together for
the purpose of forming a corporation un-
der the laws of the Territory OF Arizona,
and we do hereby certify:
First: That the name of the corpora
cion shall be the Densmore-Stabler Re
fining Company, and its principal place
of business shall be at Tucson, in the
Territory of Arizona, but it shall have
branch Office in the city of Los Angeles,
county of Los Angeles, California.
Second. That the general nature of
the business to be transacted by said
corporation is: to buy, sell, handle, and
deal in oil of all kinds whatsoever pro-
duced in or developed from the earth; to
refine, distill, or otherwise transform,
change, or alter the character or sub
stance of such oil; to deal in or handle
petroleum products of any character
whatsoever.
To acquire and dispose of real estate
when necessary for or incidental to the
carrying on of the business of the corpo-
ration; to establish and maintain pipe
lines, and tram and rail ways, and to
sAN1uhN vi NtAS<HiShiSJ Vi
franchises therefor.
To maintain tankage or storage for
the storing ofany of the products of the
corporation, or of any oilproduced from
or developed in the earth, whether the
same shall belong to said corpora tion
or not.
Third. That the amount of capital
stock authorized is $3.50, 900 90 and the
number of shares into which it shall be
divided is $500, of the par value of
$1,000 90 each.
That of said stock 6OOO shares shall
be common stock and 500 shares shall
be preferred stock. That said common
stock shall alone be voted, and said
preferred stock shall have no voting
power.
That of the net earnings there shall
yearly be apportioned one-half to the
common stock, and one-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 di-
vidends shall be paid only out of the half
of said net earnings to be apportioned to
said preferred stock. If, during any year,
there shall be a lack of earnings sufficient
to permit payment of said six per cent
dividend to the preferred stock holders,
then, any deficiency shall be made up
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 stockholder,
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 af-
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 may deem prudent. But said pre-
ferred stock shall not participate in the
earnings OF the corporation in excess ola
dividend at the rate of six per cent. year
ly.
Upon the termination of the corporate
lite OF this corporation, by limitation, or
from any cause whatsoever, all preferred
stockholders shall, 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 IA 1901, and its corporate life
shall endure for the period of TWENTY-FIVE
years thereafter.
Sixth. That the highest amount of in
debtedness or liability to which the cor
poration shall at any time be subject,
snail 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 by board of
8 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; bat if, before said meeting is
called. two-thirds of the capital stock
having vote, shall 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 |
hrst annual meeting of the stockholders
under these Articles, and until their sue |
eessors 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
mcorporators this 11th day cf February
1901.
EMMETT DENSMoRE
l.. STABLER
G. S. HoLroN
DARLoT DENsMoRR
VIM. II. BERNARD,
Ten cent Revenue Stamp cancelled.
STATE OF CALIFORNIA,
&c Z SIS