The oasis., 1907-01-26

 Ha NuNVn HHI HeaIaHHfut Ha "fNWw eftNa ( Nip NUfNUfHi tHH H HuNh 4hHli hH eufIt'Ht t3 lH leHas " niluHrt0gH wth ihn pelH. meui ufdiVUeu|s VI eight tV ppf teHiNm p'f 4nnam ifam the eAfnings ~ fhe rnfpNlNtiuN ' shail havo been paid 0n hc ssued Gcfnffea thousand wNW shares uf tho papitol aNtk uf Cue tofpufaiinn shaN hn khuWuaud designated | as "Conyeflblo. Cumulative Eight Percent Preferred Manual pividend stock ana Hs sueh lt shall hOye preiefeuee and priority over thc ! Common Stock Ui tho gurpofAtipu iu tHe ap portionment of the corporations earnings Co the cxtent 0f kieht tsl per ceutuin per auhum and the payment Of any and ell aecumulated dividends thereon Co be payable annually on its par value when issued. and in ease uf td verse or amipablo dissolution or termination oi this corporation, it shall iu addition have the further preference in being considered when issued prior lien Co tbe extent Ot fts par value and cumulative interest as Co any and all 0f the corporations rights, properties and assets as against any rights or interests whatsoever attaching to the Common stock all of which conditions shall be provided and specified in said Preferred Stock Certificates X further provision of said Preferred stock Certificates shall be, that the holders thereof, at their option, may convert the same into the Common Stock of the corporation, and the basis of such conversion shall be one share ot Common for one share of Preferred, and when SO converted said Preferred shares shall be re- tired and cancelled. It is the further intention of the IncOrporators that these Articles of In corporatiCn shall make the duty mandatory on the present and all future Board of Direct ors of this Corporation to set asi1e, during each year of it's existence, or until such time as all of the shares of Preferred stock of tse corporation is converted into Common stock and retired sufficient of the first gross earnings of the corporation in each year tO liquidate such annual dividend charges and any ac- cumulated dividen thereon as may be due or maturing during said year on the issued Pre- ferred shares
 At such times and under such conditions as the Board of Directors may direct, such capital stock shai be paid into the Corporation, either by cash or by the sale and transfer to 1t Of real or personal property or services for the use and purpose of said corporation, in payment Of which shares of the capital stock shall be ls- sued and such stock when issued shall be fully paid and non-assessable, and the judgment Of the Board of Directors as to the value or the property purchased or services rendered shall be in the absence of actual fraud, conclusive. The capital stock may be increased or de- creased by the affirmative vote of the majority of the stock then issued; but in case or the in crease of the capital stock, each shareholder ot either of the Common or Preferred shares shall | have the privilige of subscribing for such number of the proposed increase as he may be entitled to according to the number or shares ! held by him as evidenced by the Records Of ! the company before the stock is increased l ARTICLE VI. The business affnirs of this cor pOration shall be conducted by Board Of Dl- 1 rectors consisting of not less than three nor more than eleven members, each Of whom shall be a shareholder, and whenever a Di- ! rector ceases to be a stockholder he shall at the i same time cease to be Director.
 They shall be elected annually by the stock. ! holders at their annual meeting, which shall
 be held on the first Monday i'll January, lmo
 and OF said date each year thereafter. and said
 meetings to be held in any Of the omces o
 the company, and they shall hold their 0lnce,
 until their successors are duly elected and
 qualified.
 of Directors shall provide, that the vote of any
 stock kholder may be east in person or by writ
 ten proxy, which written proxy. when ontt executed shall continue Tn force until revoked
 in writing and such revocation filed with th'
 Secretary of the corporation.
 Any vacancy in the Board Of Directors may
 be filled by the remaining members of tn'
 Board by appointment from among the stock
 holders and such appointment shall be for th'
 unexpired term of which the appointment Il
 The first Board of Directors shall consist 0
 the following persons, to-wt Charles "
 Bolen Cyrus J Mitzel, Benjamin ;. Phillips
 John Glasson and H. Gordon Glore.
 The present Board of Directors are empow cred to add to the Directorate at any tin prjor 10 the Annual Stockholders meeting. t' be held on the first Monday in January. l9Oe : six new members. \ majority Of the Board Q
 Directors shall constitute quorum for tn
 transaction of all business.
 The Directors shall have full power am
 authority to adopt By laws and to change an
 amend the same as they deem expedlent. n Directors of this corporation, to annually set a f side sufficient amounts in cash from the corpoi ations first gross earnings, to be applied tO th ' exclusive purpose of liquidating all interest c :. dividend charges. matured or maturing durln i the year on any and all of its issued and out r standing Preferred Stock.
 Y All earnings Of the corporation, eXceptlh Q SO much thereof as may have been, or froI 2 time to time is deemed expedient and nece' V sary by the Board of Directors to be set asld for the future successful conduct of its bus V ness, payment of liabilities, purchasing d equipping developing, improvements, CT e largements, operations and for sinking iun II or reserve purposes must be divided annual e by means of Dividends declared on the stoc i, at the annual meeting. Said earnings to b e first apportioned to the extent ot Eight pc {, centum per annum on the par value and pa! ,s ment of accumulated dividends, if any on th n. outstanding issued Preferred Stock, all as pr' V vided in Article herein.
 of ARTICLE VII. Within reasonable time aft' " the election of any Board of Directors, the d, shall meet At any of the offices of the corpOr