Arizona republican., 1905-02-19

Hall, Charles B. Caldwell and William H. Stilwell:
 Second: The name of this corpora tion shall be; Grace Valley Develop ment Company;
 Third: The principal place of busi- ness within the territory of Arizona for transaction of corporate bushes shall be Phoenix, Maricopa county. and the corporation may by resolution oE the board of directors. establish and maintain branch offices either within or without the territory of Arizona. where meetings of the board of direct ors may be held and any business Oc the corporation consistent with the laws of the territory of Arizona may be transacted.
 Fourth: The general nature of the business proposed to be transacted by this corporation within or without the territory of Arizona is. to wit: The 1 irrigation, reclamation and cultivation of arid and other lands; to locate. pur- chase. lease, bond or otherwise acquire. own. hold exchange, sell or otherwise 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 op- 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 fin all its various branches, to conduct a general butcher business, a general blacksmith business and wheelwright business. a 1 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 a general farming and ranching business in all it's 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 ! (S15e.0 .0O0) Dollars, divided into five hundred (500) shares of preferred stock of the par value of One Hundred ($1O0) i Dollars per share. and two thousand ! @ ,O0O) shares of common stock of the par value of Fifty (s50) 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 of 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 assessable;
 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 annum; 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 a 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 R. Kenyon, Charles H. Pratt. Dick Wick Hall, Charles B. Caldwell and William H. Stilwen. Thereafter. the board of directors shall be elected from the stockholders on the first Mon
 day of March of each year The offi- cers of said corporation, until their
 successors are elected, shall be Fred
 erick R. Kenyon, President, Charles H. Pratt, President, William H. Still
 well, Treasurer, Dick Wick Hall. Sec
 retary, Charles B. 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 expedient
 to the good management of the com
 pany, and to fill all vacancies among
 the directors and officers of the com
 pany; and at any time by unanimous resolution, when deemed expedient, to
 increase the number of directors of
 said corporation to seven: a majority
 of the board of directors shall cOnsti-
 ute a quorum for the transaction of corporate business except where other
 wise expressly provided
 Eighth: The highest amount of in