Arizona republican., 1905-02-01
LEGAL ADVERTISEMENTS.
ARTICLES OF INCORPORATION
Of tho National Land and Develop
 ment Company.

KNOW ALL MEN BY THESE PRESENTS: That we, whose sigma lures are hereunto attached, do hereby associate ourselves together for the purpose of forming q corporation un- der the laws of the territory of Ari- zona. and to that end make the follow ing statement:
 First: The names of the incOrpOra- tors are: Robert A. Kirk Frederick R. Bigelow Edward A. Konantz. Ed ward Howard Morphy. William c. Strickland, William c. Edwards, Allan Black, Charles Straus and Philip Gilbert. all of the city of St. Paul, county of Ramsey and state of Mime sota, and L. II. Chalmers, H. B. Will
 kinsou. James w. Mccormick, and N. A. Mcrford of the city of Phoenix, Mar icopa county.
 Second: The name of this corpora ton shall be The National Land & De velOpment company. The principal place in which the business of said corporation, within the territory of Arizona, is to be transacted shall be Phoenix. in the county of Maricopa
 The principal place in which the busi- ness Of said corporation, outside the territory of Arizona, i3 to be tran sacted, shall be the city of St. Paul, in the county of Ramsey and state of Minnesota, at which place meetings of the board of directors may be held. And the board of directors may meet and act at such other place or places as they may determines; either within or without the territory of Arizona; and the meetings of the stockholders of the corporation may be held at the said city of St. Paul, county of Ram sey and state Of Minnesota, or at such other place or places as may be deter mined by the board of directors.
 Third: The general nature of the business proposed to be transacted by this corporation is as follows, towit: To make contracts, to purchase, lease, Eouf. locate or otherwise acquire, own, exchange sell or otherwise dispose of, pledge. mortgage, hypothecate and deal in real estate and any and all kinds of personal property, mines, mining lands. oil lands gas lands. mineral lands of all kinds, oil. gas asphaItum. petroleum, asbestos, salt, water rights and water machinery, and to work mines of all kinds, explore, operate and develop the same, to drill wells for oil, explore and develop oil lands and oper- ate oil wells and market the product thereof. to lay, erect and maintain oil. gas and water pipelines for the pur- pose of transporting oil, gas and water to and from any and all points or places desired in the terri tory of Arizona, or ClSeW here, and to acquire the right of way therfOr, and to do q general real estate. manufac- turing and mercantile business, and to own. handle and control letters patent and inventions and shares of cOrpor- ate stock of other corporations; to borrow money and exchange notes, bonds mortgages or deeds of trust to secure the same. and to exercise in respect of all such bonds, mortgages. notes. shares of capital stock and other securities and obligations, any and all rights. power and privileges of indt- yfdual owners thereof, including the right to vote upon any shares of stock held by it tG the same extent that natural person might or could do; and in general to do all things necessary to the proper conduct of the business of this corporation in the territory or Arizona or elsewhere.
 Fourth: The authorized amount of capitaI stock of this corporation is $500. .OOO.0O divided into three thousand C3OOO) shares of the par value of one hundred dollars $GOO.00) each, of
 which one thousand C1GOO) shares shall be preferred stock and two thou sand l2O0O) shares shall be common stock The preferred stock is preferred both as to assets and dividends, and out of the net earning of this COrpOr- alton the preferred stock shall first be entitled to dividends amounting to seven (O per cent per annum before the common stock is entitled to any dividends whatsoever, and in the dis tIibution of the assets of this corpor-
 r-t.-. .1- -l-I,., leo be preferred. and all outstanding pre- ferred stock shall be taken up and paid in full at par before any distribution of assets is made to any holder of com mon stock The board of directors may at any time when they deem it adVis- able pay out of the assets of the cor poration to the holders of the prefer red stock the par value thereof, to- gether with all accrued dividends and l thereupOn said preferred stock shall be cancelled or. at the option of the said board of directors they may pay 10 the holders of the preferred stock a l pro-rata share of their stock at par, | and thereupOn said preferred stOcN shall be reduced by the amount of such |payment. The payment for the pre- ] ferred stock shall be in cash at par. ! twenty C2O per cenD per cent 1 thereof at the time of the subscription l and the balance in monthly install- ! ments not to exceed ten 10 per cenD | per cent in any one month as called
 for by the said hoard of directors. The common stock shall be paid for at l such time and in such manner as the l board of direC! OTs may determine and may be paid for by personal services
 or by the sale and transfer to this cor l porat:un of real or personal property ] for the uses and purposes of this cor | uoratIon and certificates issued there
 for. and such common stock so issued shall thercupon and thereby become ! fully paid and non-assessible and in
 the absence of actual fraud in the tran
 saction the judgment of the said board ns directors shall be conclusive as td
 the value of the services rendered and
 to be rendered. and as to the value oI
 the pro, elty purchased or acquired.
 Fffth: The time of the commence wont of +I7is c0rDOr3 lion shall be the