Arizona republican., 1901-03-12
ARTICLES OF INCORPORATION
 of the UNITED GROCERY COMPANY.

Know all men by these presents, that we. the undersigned, Simon B. Hallagan. a resiuent of Oneida county, state of New York. Ed ward Kanaley and Genevieve Kanaley, both residents of Westchester county, state of New York. and Edwin H Va Jade. a resident of Hudson county, state of New Jersey. have associated our selves together for the purpose of eorm- ir:g corporation under the laws of the Territory of Arizona. and do hereby certify:
 I. That the name of the corporation shall be the United Grocery Compa- n.y." and its principal place of transact ing its business shall be at the city of Phoenix, county of Maricopa, Territory of Arizona with branch offices in the city of New York, the county of New York and the state of New York. H. That the general nature of the business proposed to be transacted by I said corporation is a general mercantile business and manufacturing various | food products. with power to purchase | and hold lands and sell the same when necessary: to purchase, sell and hold stocks and bonds. 10th in foreign and domestic corporations. and to purchase all necessary patents for conducting ! it's business.
 III. That the amount of capital stock shall be five hundred thousand | dollars (s50O000) and the number of ! shares into which 1t is divided is fifty | thousand (j0,000) of the par value of ten dollars (slO00) per share each. | ". All of said stock shall be fully | paid and non-assess
 V. One hundred thousand dollars ! (s100,000) of said stock shall be first preferred and shall be entitled to six per cent G per cenO per annum accumulated earnings, to be first paid before the payment of any dividends on any other classes of stock. but shall not participate in any of the earnings of the said company over and above said six per cent e per cenO per annum. Said one hundred thous- and dollars (s1OO,OO0) of first pre- ferred stock shall also be preferred. in case of liquidation. as to its principal in full.
 VI. Three hundred thousand dollars l (sS00,OO of said stock shall be second preferred stock and shall be entitled to l two per cent e per cenD per annum accumulated earnings, to be paid next after the six per cent | G per cenD hersnbefore provided
 to be paid on the first prefer
 red stock. and before any dividends are paid on the common stock. After two per cent e per cenD has been paid on | cot ferred stock shall share and share alike
 with said common stock, until both
 said second preferred and said common stock shall receive eight per cent (S | per cent) dividends per annum, includ-
 ing said two per cent e per cenO. All earnings In excess of said eight per cent (S per cent shall be paid on the comm1n stock. In case of liquidation. | said second preferred stock and the common stock shall share and share alike as to the principal. Said second | preferred stock is non-assignable and non-transferrable, except that 1t may by consent of the board of directors be ! assigned and transferred.
 l VII. There shall be one hundred thousand dollars t$1OO,O00) of common stock. Said common stock shall be en-
 titled to all the earnings of said corp ration on and after the amount paid on first and secopd preferred stock as herenbefore mentioned. Neither the first nor second preferred stock shall be l entitled to vote or have any control | over the management of said company. at any of its meetings. until there are in arrears five G5) years dividends on | first preferred stock. Then, in case said company is in arrears for five (5) years | of accumulative dividends on first pre- ferred stock, said first and second pre- | ferred stock shall vote with common stock, share and share alike, in the management of said company. VIII. The time of the commencement | of said corporation shall be on the fif- teenth day of February, 1901. and the | time of it's termination shall be on the fifteenth day of February 1925. TX That the officers of said corpor- alton to conduct it's affairs shall be a board of five (O directors, who shall l be elected at the annual meeting of | stockholders entitled to vote, on. the | first Tuesday after the first Monday in each year.
 X. That the highest amount of in | debtedness or liability to which the l said company Is at any time to subject itself is four hundred thousand dollars | (jt0C, ,O0O)
 l xI That the private rrolerty of