Arizona republican., 1905-01-30
LEGAL ACHIEVEMENTS.
ARTICLES OF INCORPORATION
Of the National Land and Develop
 ment Company.


 l associate ourselves together for tn l purpose of forming a corporation un l der the laws of the territory of Ari l Zona. and to that end make the follow l ing statement:
 | First: The names of the incorpora | tors are: Robert A. Kirk Fredericl | R. Bigelow, Edward A. KOnantz, Ed ward Howard Morphy, William c | Strickland. William c. Edwards, Allan Black, Charles Straus and PhiliI Gilbert, all of the city of St. Paul county of Ramsey and state of Minne- sOta, and L. H. Chalmers, H. B. Will
 lIinson. James w. Mccormick, and N
 A Morford 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, is 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 determine; 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 hoard 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, hon1. 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 asphaltum. l 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, l explore and develop oil lands and Oper- l lte 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 ory of Arizona. or elsewhere, and to -cquire the right of way therfOr, and O do a general real estate, manufac- uring and mercantile business, and to ,wn. handle and control letters patent md inventions and shares of cOrpOr- te stock of other corporations; to borrow money and exchange notes, ,onds, mortgages or deeds of trust to ecure the same, and to exercise in expect of all such bonds, mortgages.
 otes. shares of capital stock and other counties and obligations any and all ights, power and privileges of indi- idual owners thereof, including the fight to vote upon any shares of stock eld by it to the same extent that a atural person might or could do; and l general to do all things necessary o the proper conduct of the business f this corporation in the territory of .rizona or elsewhere.
 Fourth: The authorized amount of apital stock of this corporation is 300. .OOO.OO divided into three thousand 5000 shares of the par value of one undred dollars $GOO.OO) each. of mich one thousand C1OOO) shares hall be preferred stock and two thou and (2OOO) shares shall be common , tock. The preferred stock is preferred oth as to assets and dividends, and ut of the net earning of this cOTpOr- tion the preferred stock shall first C entitled to dividends amounting to even CD per cent per annum before he common stock is entitled to any T ividends whatsoever, and in the dis ributiOn of the assets of this cOrpOr- tion the said preferred stock shall also I a preferred, and all outstanding pre- erred stock shall be taken up and paid l full at par before any distribution of ssets is made to any holder of com lon stock. The board of directors may . { any time when they deem it advis- ble pay out of the assets of the cor oration to the holders of the prefer | ad stock the par value thereof, to- ether with all accrued dividends and lereupon said preferred stock shall be lnceIled. Or. at the option of the aid board of directors they may pay ) the holders of the preferred stock a 1 TO- rata share of their stock at par, T nd thereupon said preferred stock . nall be reduced by the amount of such r ayment. The payment for the pre- .rred stock shall be in cash at par, yenty (2O per cen) per cent ' hereof at the time of the subscription nd the balance in monthly install ' ents not to exceed ten (1O per cent) - CT cent in any one month as called T IT. by the said board of directors. The 1mmon stock shall be paid for at Ich time and in such manner as the = 1ard of directors may determine and = ay be paid for by persOnal services by the sale and transfer to this cor a 1ration of real or personal property | IT. the uses and purposes of this cor DratIon and certificates issued there IT., and such common stock so issued lail thercupon and thereby become = lily paid and non-assessibIe and in U e absence of actual fraud in the tran u -ctiOn the judgment of the said board a
 directors shall be conclusive as tC - c value of the services rendered and
 be rendered, and as to the value of " e pros eTty purchased or acquired. Fifth: The time of the commence ent of this corporation shall be the lte of the filing of these articles of corporation in the offices of the au- c