Bisbee daily review., 1902-07-22

be preferred stock, and four hundred thousand (400,000) shares amounting to Four Hundred Thousand Dollar. !. = .H0,OOO.00) shall be common stocJ | The net yearly earnings, or the net profits of this corporation shall be applid as follows:
 l. To the payment of A dividend upon the preferred stock of this cor poration at the rate of seven per cent c per cent) per annum;
 ?. To the payment of a dividend upon the common stock of this corpor- ation at the rate of seven per cent IT per cent per annum;
 B. The balance or residue of said net yearly earnings or profits. if any. shall be applied to the payment of a dividend upon the total capital stock of this corporation, whether the same be preferred or common stock. Dividends shall be payable annually. semi annually or quarterly as may be determined by the board of directors. Neither the preferred stock nor the common stock of this corporation shall be cumulative stock: that is. should the net earnings or profits. in any one year, be sufficient to pay a
 
 cenD upon the preferred stock. said preferred stock shall not be entitled to any additional dividends from the future earnings of this corporation to make up such deficiency: or, if the net yearly earnings or profits. for any one year. after the payment of said dividend of seven per cent upon the preferred stock, be insufficient to pay dividend of seven per cent C per cent upon the common stock. said common stock shall not be entitled to any additional dividends from the fu- ture earnings of this corporation to make up such deficiency; in other words, the net yearly earnings or prof , it's of any one year, shall be deemed. treated and considered separate and distinct from the net yearly earnings or profits of any and all other years. Article ". All the stock of this corporation shall be non-assessable, and all or any part of the shares thereof may be issued. fully paid in payment for work. labor and services, done. rendered and performed. for ma terials or supplies furnished. or for property or property rights purchased. leased. rented or otherwise acquired by this corporation. and when so is- sued said stock shall be fully paid stock and not liable to any calls or assessments.
 Article V. The date of the com mencement of this corporation shall be the date that these articles of in- corporation are filed in the office of the secretary of the territory of Ari- zona. and the corporation shall exist for the term of twenty-five (25) years from and after said date.
 Article VI. The affairs and man. agement of this corporation shall be under he control of five (5) directors, ard A. M. Franklin c. E. Bell. w E. Francis, Hartwell Nowell and R. B. Parsons are hereby selected to act as such directors. and to manage the business and affairs of said corpora ton for the first year. or until their successors are duly elected and quail flied. The board of directors shall have power to fill all vacancies that may, from time to time, occur there in.
 The corporate powers of this corpor- ation shall be exercised and the man agement of its affairs conducted by the board of directors, and such of ficers, agents and committees as the said board of directors may elect or appoint in pursuance of the bylaws of this corporation.
 Article VII. The officers of this corporation shall be CD president, @ vice president, (3) secretary and (4 treasurer, which said officers shall be elected by the board of directors, and who may or may not be members of said board.
 Article VIII. The annual meeting of stockholders shall be held on the second Tuesday of July of each year, and at all meetings of stockholders stock may be represented and voted by proxy.
 Article K. The highest amount of indebtedness or liability, direct or contingent, to which this corporation shall at any time be subject, is the sum or amount of one hundred thou sand dollars ($100 ,000.00).
 Article X. The private property of each and every stockholder of this corporation shall be exempt from any all debts of the corporation.
 Article XI. These articles of in corporation may be amended at any regular meeting of the stockholders of this corporation, or at any special meeting called for that purpose, by the vote of stockholders holding two thirds (2-3) of the capital stock is sued by this corporation in tavor of such amendment, or at any other time by the assent in writing of all stock holders of this corporation
 Article XII. Bylaws may be adopt ed by this corporation at any regular meeting of the stockholders of this corporation, or at any special meet ing called for that purpose. by the vote of stockholders holding two thirds (2-3) of the capital stock issued by this corporation in favor thereof, or at any other time by the assent in writing of all stockholders of this corporation; and such bylaws may be amended by a like vote at any reg
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