Arizona republican., 1905-01-29
LEGAL ADVERTISEMENTS.
ARTICLES OF INCORPORATION
Of the National Land and Develop
 ment Company.

PRESENTS: That we, whose sigma
 lures are hereunto attached do hereby
 associate ourselves together for the
 purpose of forming a 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 G.
 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. Fl. Chalmers, H. B. Will llinson, James w. Mccormick, and N. A. Morford of the city of Phoenix, Mar icopa county.
 Second: The name of this corpora tion 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. l The principal place in which the busi- ness Of said corporation, outside the l territory of Arizona, is to be tran | sacted, shall be the city of St. Paul,
 in the county of Ramsey and state of l Minnesota, at which place meetings Of 1 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 determine; either within i 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 l this corporation is as follows, towit: | To make contracts, to purchase, lease, Hon1 locate or otherwise acquire, own, | exchange. sell or otherwise dispose of, | pledge, mortgage, hypothecate and deal l 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 asphaltum, petroleum, asbestos, salt, water rights and water machinery, and to work mines of all kinds, explore, operate and l 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 l tory of Arizona, or elsewhere, and to acquire the right of way therfor, and l to do a 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 l respect of all such bonds, mortgages, ! notes shares of capital stock and other | securities and obligations. any and all rights, power and privileges of indi- vidual owners thereof, including the | right to vote upon any shares of stock | held by it to the same extent that a natural person might or could do: and 1 in general to do all things necessary
 to the proper conduct of the business | of this corporation in the territory Of | Arizona or elsewhere.
 Fourth: The authorized amount of capital stock of this corporation is | S30O, 100000 divided into three thousand l C3OOO) shares of the par value of one hundred dollars SC10O.OO) each, of
 which one thousand (10OO) shares 1 shall be preferred stock and two thou
 sand (20O0) shares shall be common
 stock The preferred stock is preferred
 
 out of the net earning of this corpor- ation the preferred stock shall first
 be entitled to dividends amounting to l seven CD 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- ation the said preferred stock shall also be preferred, and all outstanding pre- l ferred stock shall be taken up and paid in full at par before any distribution or | assets is made to any holder of com-
 mon stock. The board of directors may
 at any time when they deem it advls-
 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 | thereupon said preferred stock shall be | cancelled Or, at the option of the said board of directors they may pay
 to the holders of the preferred stock a pro-rata share of their stock at par, and thereupOn said preferred stock l shall be reduced by the amount of such payment The payment for the pre- | ferred stock shall be in cash at par' | twenty (20 per cenD per cent thereof at the time of the subscription
 and the balance in monthly install
 ments not to exceed ten C1O per cenD
 per cent in any one month as called
 for by the said board of directors. The
 common stock shall be paid for at
 such time and in such manner as the
 board of directors may determine and
 may be paid for by personal services
 or by the sale and transfer to this cor
 poration of real or personal property
 for the uses and purposes of this cor
 poratIon and certificates issued there
 tor and such common stock so issued shall thereupon and thereby become fully paid and non -assessible and in
 the absence of actual fraud in the tram
 saction the judgment of the said board | Of directors shall be conclusive as to
 the value of the services rendered and
 to be rendered, and as to the value of
 the prol erty purchased or acquired.
 Fifth: The time of the commence