Arizona republican., 1906-03-24

of the owners and holders of stock In this corporation of the amount to which he is entitled by virtue of ais holdings in this corporation. as deter mined by the board of directors of this corporation, and that upon the surrender of his holdings of stock in this corporation, he will be paid such amount in said notice specified
 6- Tne moneys realized upon the sale of the property of this corporation as hereinabove specified shall be de- posted in the Home Savings Rank and Trust company. and all payments made for any purpose shall be made by check drawn against such fund.
 [. That the said c. J. Hall. the president of this corporation. shall. upon the complete and proper surren- der to him of the shares of stock in this corporation. held by any person. cop partnership or corporation pay to the holder and owner of said stock SD making such surrender of said stock the amount of his propOrtionate share of the net proceeds of the sale of said property hereinbefore referred to.
 If. however. after the lapse of sixty days from the time Cf the mailing of the aforesaid notices showing the amount of the proportionate part of said net proceeds of sale to which each of the owners and holders of stock in this corporation. is entitled. there should remain one or more stockholders in this corporation. wno shall refuse or neglect 10 surrender their holdings in this corporation and accept the proportiOnate amount Of said net proceeds of said sale as in their respective notice set forth. then and in that event. the said president of this corporation is hereby author ized and directed to draw from the balance of said fund so deposited in said Home Savings Bank and Trust company. at Phoenix. Arizona (which shall then be on deposit to the credit of this corpOration) checks for the several sums and amounts to which the several stockholders refusing or neglecting to surrender their stock end accept their several respective amounts, shall be entitled. and make individual deposits of said checks in the said Home Savings Bank and Trust company making such deposits in the names of the particular indi- viduals in whose favor such checks are drawn. respectively. and therea;-er such individual deposits shall be sub ject to the order of such particular iu- dividual. upon the surrender to the said Home Savings Bank and TrIst company of the shares of stock in .his corporation, held by the person or cor poratiOn in whose name such dc.osit, shall be made aforesaid. or by the surrender of such stock, by his. her Cr its, representative, assignee or trans fierce of said stock. sucn surrender. however, to be accompanied by proper and satisfactory evidence Of ;vEal transfer of said stock. to the person so surrendering such stock
 That the said president of this cor poratiOn. immediately upon the u1ak- ing of such individual depOsi $ as aforesaid shall cause to be entered upon the stock book, stock ledger and stock transfer book and regis CT. of this corporation, a statement signed by himself or the secretary of this cor poration to the effect that tho sa.e. issuance and transfer of stock in this corporation is hereby closed: and thenceforth no further entries snai b- made in or transactions done in cou- nection with the stock of this corpora toin or the evidences thereof. other than to make the proper entry of can cellatiOn of stock so SuTTen,ieTVi as nereinaboVe provided for, ana that as to those shares of stock carrying water and from which th, water rights have not been severed. upon the surrender of such shares of stock. they
  the water rights attached to such share and growing out of the owner ship of such share. and when so marked cancelled to be returned Co the owner thereof.
 S. That the said president or sec retary of this corporation shall deliver to said Home Savings Bank and Trust company list of the holders and own CTS of stock in this corporation as the
 
 of this corporation, for the guidance of said bank and said bank shall be entitled to rely upon the said list in the paying over of said deposits upon the surrender of the certificates of stock in this corporation by the per sons mentioned in said list. or their assignee or assignees of said stock. upon the due and proper authentica- ton of such assignment or transfer Co the satisfaction of said bank
 That so far as the property belong ing to this corporation and not trans ferred to the United States govern ment as herein provided. is concerned. all those entitled to snare in the net proceeds derived from the sale of the company's canal property and inter ests. by virtue of his or her or its ownership of stock in this corporation Tor the legal transferee of said stock. or the legal representative of such stockholder. shall be entitled to snare lin the proceeds derived from the sale Tor other disposition of all such prop erty remaining after the transfer of said canal property and interests. in the proportion that his, hers or its individual holdings of stock in this corporation bears to the total amount of outstanding stock al the time of the transfer of said canal property and interests to the said United States government hereinabove provided fot- the cancellation of his her or its stock as herein provided for. Provided, however, that no such final distribution shall be made until after the payment of all this com pany's outstanding indebtedness shall have been fully paid. adjusted anu cancelled.