The Roswell daily record. [volume] (Roswell, N.M.) 1903-current, 1905-05-12
f~exofnclo Recorder -of-sala cnaves
ARTICLE XIII.

1 COunfvst 60
ARTICLE XIII.
No certificate of stock shall. eyer
he ISSUED until the purchase price
therefor -shalLhave been paid in full;
and No share issued by the company
to any purchaser shall by him either
directly or Indirectly or by his heirs,
legal representatives OF assigns ever
be sold. conveyed, assigned, mortgag
ed. pledged or in any other manner
transferred. surrendered or disposed
CT, except IS an app~urtenance and
water-righI of and to the lot or lots
or division or divisions of the lot OF
lots to which it is attached and along
with the sale or other disposition as
a part of the same transaction of
said parcel or parcels of land SO at
fected by said share: nor shall any
shareholder ever be charged for wa
ter furnished to him by the company
more han the actual cost thereof es-
timated upon the basis of a strictly
economical management of the busi-
ness of the corporation; and all pro-
fits shall be divided among the share
holding water-users NJ in in
proportion TO the number of end Or
front feet on which they are using
water from the company.
ARTICLE XIV.
Said board of directors Shall have
power to acquire and hold in the
lame of the company IL by ordin-
ance or other form of grant, such
rights. easements and franchises aud
for such period as the same may be
had. in, under the surface of and upon
the streets and alleys of the City of
Roswell and of all additions thereto,
and such easements, rights of way
and other rights and privileges from
other corporations and persons, as
the board may think necessary or ad-
v-antageous for the successful manage
ment of it's business and for supplying
water to its shareholders and t 9th
er users OF water of and from the wa
ter works system of the company.
ART. XIV.
At any time when deemed adyisa,
BILE ant for the best interests of the
shareholders, the company by and
through its board of directors shall
have power to sell and dispose of al:
OIL any part of its property and bust
ness and of such franchises. ease
ments, rights, privileges and appur-
tenances as it may at the time pos
sess, or may merge the same into
water-worlis company, corporation OIL
association at the time in existence
and carrying on business at the City
Of Roswell; provided, that such sale
merger or consolidation shall in nc
event have the effect in anywise to-
the hares or water-rights of the
shareholders of this or any
of their rights or interests in the
same.
ART. XVI.
Said board of directors shall at ITS
first meeting and Immediately after
it's organization adopt an appropriate
seal containing the words. Alameda
Water Company and such othe.
words devices as the board may
deem ADVISABLE; and of said seal the
secretary of the board shall be the
rightful custodian, and by his sigma
ture and the impress of the seal the
secretary lhall attest all instruments
of writingI executed by authority OF
the board hnd under the laws of this
Territory required to be acknowledged
for the purpose of record, and ali
other written instruments entered in
TO by authority of the board and in
the opinion of the president of more
than temporary Importance to the
business of the company.
Witness the hand of said William
T. Wells, at Los Angeles. California,
this End day of May. 1905.
(Signed)
WILLIAM T. WELLS.
Witness the hands of said William.
w. Gatewood, Wendell NJ. Reid, Carl
NJ. Bird and John T. Carlton. this
the 22nd day of April, 1905.
(SignedJ
WILLIAM ". LAKEWOOD,
WENDELL NJ. REID.
CARL NJ. BIRD.