The news-herald., 1903-12-12

liquidation of the corporation, the holders of
the preferred stock shall be entitled to receive
the par value of their preferred shares out of
the assets of the corporation before anything
shall be paid therefrom to the holders of the
common stock.
The preferred stock shall be subject to re-
demption at the option of the corporation on
the 1st day of January, 1909, or on the date of
payment of any dividend prior thereto at the
| par value thereof for each share and the
amount of the dividend accumulated and un-
paid thereon at the date of redemption. Sew
enty-fve per centuf (75 per cent? of the net
earnings of the Company, less the amount re-
quired to pay the dividends of the preferred
stock shall be set apart for the purpose of cre-
ating fund for the redemption of said stock,
and the remaining twenty-five per cent (25 per
cent?, less such amount as the Board of Direc.
tors shall set apart as reserve fund, shall be
used for the purpose of paying dividends on
| said common stock.
Fifth-The capital stock of this corporation
may be paid IN at such time as its Board of Di-
rectors may by resolution direct, and said cap
ital stock may be paid either in cash or by the
transfer to it for the purposes and uses herein
outlined OF either real or personal property of
| duy U0SCTlpI1Ou whatsoever acceptable TO IL,
in satisfaction for which it may issue certifi-
Gates of shares of its capital stock, and the is
suance of such certificates shall be full dis
charge for the transfer to 1t of such assets and
said certificates shall be fully paid and non-
| assessable.
Sixth-The time of commencement of this
corporation shall be the date of filing these ar
ticles of incorporation in the office of the
AID If flo oE At
termination thereof shall be twenty-five 1857
| years thereafter.
seventh-The affairs of this corporation shall
be conducted by board of three directors, and
Acknowledgements persons shall constitute the
| Board of Directors until their successors are
elected and qualified: Edward ZeigerJ c. .Hern-
don and T.G Norris. Thereafter the Board of Di-
rectors shall be elected from among the stock
holders at the annual meeting of this Com
pany, which shall be held at the principal Of
flee of the Company, at Prescott, Arizona, on
the first Tuesday after the first Monday in May
of each year.
| The officers of this corporation shall be
President, Vice President, Secretary and Treas
urer and such other Offices as the Board of Di-
rectors may fix, and until the first annual
meeting of the stockholders and until their
successors are elected and qualified the officers
of this Company shall be: President, T. G.
Norris; Vice President ]. c. Herndon; secre-
tary, Edward Zeiger, and Treasurer, CONNER
cial Trust Company of Prescott, Yavapai
county, Arizona
The highest amount of indebtedness or liza
bility, direct or contingent lin addition to the
preferred shares), to which this corporation is
at any time subject, shall be Five Thousand
Dollars ($5O0OOO).
Ninth-The private property of the stock
from It's corporate debts.
In witness whereof, we have hereunto set
our hands and seals this 2Sth day of Novem-
Der, 1903. EDWARD ZEIGER
T. G. NORRIS
J. C. HERNDON
TERRITORY OF ARIZONA,
County OF Yavapai 90
Before me, c. w. Herndon, a Notary Public
in and for said County and Territory, this day
personally appeared the within named Edward
Zeiger, J. C. Herndon and T. G. Norris, person
ally known to me to be the persons whose
names are subscribed to the within instru-
| ment, and acknowledged that they executed
the same for the purposes and considerations
therein expressed Given under my hand and
seal of office this 28th day of November, 1908.
[sEALl C. W. HERNDON, Notary Public
My commission expires April 16, 1905.
Recorded at request of Herndon & Norris,
November 80, A. D. 1908, at 1856 O'Clock p. M,
in Book Articles of Incorporation, pages s.
ct seq, Records of Yavapai county, Arizona.
[sEALl p. ]. FARLEY, County Recorder.
TERRITORY OF ARIZONA
County of Yavapai. 3D.
I, P. J. Farley, County Recorder in for the
County of Yavapai, Territory of Arizona, and
n II M % nr6o do ahUy
certify that have compared the within and
foregoing with, and the same is full, true and
correct copy of the Articles of Incorporation
appears of record in my Office in Book Arti-
cles of Incorporation, pages - ct seq, Rec
ords of Yavapai county, Arizona.
In witness whereof, l have hereunto set my
hand and affixed my official seal this the 30th
day of November, A. D, 1908.
IsBAL] P. J. FARLEY, County Recorder.
First publication December 5th.