Arizona daily citizen., 1901-04-19
Articles OF Incorporation OF the Densmore
StabIer Refining Company.

StabEeF kenning 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 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
I hning Company, and it's principal place
of business shall be at Tucson, in the
Territory of Arizona, but it shall have a
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
acquire rights of way, easements, or
| 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 ton
or not.
Third. That the amount of capital
stock authorized is $3.50, 100000 and the
number of shares into which it shall be
divided is $500, of the par value OF
$4,000 each.
That of said stock 5000 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 halt
OF said net earnings to be apportioned to
said preferred stock. If during any year,
there shall be 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 i'll excess ofa
dividend at the rate of six per cent. year
ly.
Upon the termination of the corporate
life of this corporation, by limitation, or
from any cause whatsoever all preferred
stockholders shall, out of any assets of
the corporation available for distribu-
tion 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 it's 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 he subject,
shall 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 bv board of
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; but if, before said meeting is
called. two-thirds of the capital stock
having a 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 i'll Office shall hold over
until the next election. But until the
| first annual meeting of the stockholders
under these Articles, and until their sue
cessors 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
incorporators this 11th day Of February
1901.
| EMMETT DENsMoRE
L. ]. STABLER
G. S. HoLToN
| DIDJ M,