Arizona republican., 1905-02-20

H. Sulwen:
 Second: The name of this corpora
 ton shall be. Grace Valley Develop | ment Company;
 Third: The principal place of bUsi- ness within the territory of Arizona | for transaction Of corporate business
 shall be Phoenix, Maricopa county. and l the corporation may by resolution oC l the board of directors. establish and maintain branch offices either within ! CT without the territory of Arizona. ] where meetings of the board of direct | ors may be held, and any business of the corporation consistent with the ! laws of the territory of Arizona may be ! transacted.
 Fourth: The general nature of the i business proposed to be transacted by | this corporation within or without the | territory of Arizona is, to wit: The
 irrigation, reclamation and cultivation of arid and other lands: to locate nur- chase. lease, bond or otherwise acquire. own, hold exchange. sell or otherwise l dispose of, pledge, mortgage. hypothe- cate and deal in real estate and any
 and all kinds of personal property; t0 purchase, develop, locate. sell. lease. water. water power, transport and deliver the same; to erect pro- duce, purchase, sell. lease. electric plants and electricity. gas. gas
 plants and other lighting and motor power; to construct. own lease and orl- crate street cars and lines, tramways.
 turnpikes. and canals in connection with the property of this corporation.
 or otherwise. or leading to or from the
 principal works; to acquire. own lease.
 handle and control letters patent and
 inventions, and shares of capital stock
 of other corporations; to borrow mo-
 ney and execute notes. bonds. mort gages or deeds Of trust. to secure the
 same, and to exercise in respect to all
 such bonds, mortgages, notes, shares
 of capital stock and other securities
 and obligations any and all rights.
 powers and privileges of individual
 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; to conduct a general mercantile business in all its
 various branches, to conduct a general
 butcher business. a general blacksmith business and wheelwright business. a general hotel business a general corral and livery business; to buy. breed. raise and sell cattle and any and all other varieties of livestock. to do Q general farming and ranching business in all its branches, and to do all things nee essary to the proper conduct of the affairs of the corporation
 Fifth: The authorized amount Of capital stock of this corporation shall be One Hundred and Fifty Thousand (S150.0OO) Dollars. divided into five hundred (500) shares of preferred stock of the par value of One Hundred (S1o0) Dollars per share, and two thousand C2,00O) shares of common stock of the par value of Fifty (S5O) Dollars per share.
 At such time as the board of direct ors may by resolution direct said cap ital stock shall be paid into this cor pOratiOn either in cash or by sale and transfer to it of real or personal prop erty, or services actually rendered. for the uses and purposes of said corpOr- atiOn, in payment for which. shares or the capital stock of said corporation may be issued. and the capital stock so issued shall thereUpOn and thereby become and be fully paid up and non assessa ble;
 Dividends on the common stock of this corporation shall be subject to. and conditioned upon, the payment of Interest at seven per cent per annum and eight per cent dividends per an mum on the preferred stock issued by this corporation. until the face value of said preferred stock has been fully paid. After which, said preferred stock shall be entitled. only. to seven per cent dividends per annuU; provided this provision in favor of the preferred stock shall be in force until waived in writing by the holders of three-fourths Of the preferred stock outstanding
 Sixth: The time of the commence ment of this corporation shall be the day of the filing of certified copy of these articles according to law. and the termination thereof shall be twenty five years thereafter.
 Seventh: The affairs of this corpor- ation shall be conducted by a board of five directors and the following named shall constitute the board of directors until their successors, duly elected and qualified. shall take their place; Frederick F. Kenyon. Charles H. Pratt. Dick Wick Hall, Charles B. Caldwell and William H. Stilwell- Thereafter. the board of directors shall be elected from the stockholders on the first Mon day of March of each year The Ofl- cers of said corporation. until their successors are elected. shall be Fred erick R. Kenyon. President. Charles H. Pratt President. William II. Stil- well, Treasurer. Dick Wick Hall, See retary, Charles R. Caldwell. Auditor
 The board of directors shall have the power to adopt bylaws; and prescribe the duties of the officers of the cor Poration, the calling and holding of regular and special meetings of stock holders and directors. such rules and regulations as are deemed eNpsdient to the good management of the com pSny and to fill all vacancies among the directors and officers of the com pany; and at any time by unanimous resolution. when deemed eNpedient. 10 increase the number Of directors or said corporation to seven; a majority of the board of directors shall consti- tute quorum for the transaction of corporate business except where other wise expressly provided.
 Eighth: The highest amount of in debtedness, or liability, direct of con tingcnt to which this corporation is at any time subject shall not exceed L-i e..- -I,-,.,....-r..l .s-n nnnA IA-.LI---.