Arizona republican., 1907-08-29
ARTICLES OF INCORPORATION
 of the DENISON MOTOR COMPANY.

hNOM ALL PRESENTS. That we. the undersign-
 ed. do hereby associate ourselves to- | gether foy the purpose of forming
 corporation under the laws of Arizona.
 and to that end do hereby certify and declare:
 FIRST. The names of the incorpora-
 tors are D. c. Denison, Jacob F.. Rep
 logic and William H. Chadwick, and
 the name of the corporation shall be
 DENISON MOTOR COMPANY.
 SECOND. The principal place of
 business of the corporation in Arizona,
 shall be at Phoenix, and the corpora
 tion may have such other offices, prin-
 cipal or branch. either within or with
 out the Territory of Arizona, as may
 be established by the Board of Direc-
 tors at which offices meetings of the Board of Directors and Stockholders
 may be held.
 THIRD. The general nature of the business proposed to be transacted, is
 as follows, to-wit:
 Manufacturing of all kinds; mer- chandising of all kinds: to buy. sell, lease, rent, exchange and deal in hard
 ware, and metals of all kinds; wooden
 ware and woodworking machinery and accessories: automobiles. auto-trucks. iauto-wagons, auto-carriages, track motar cars, and any and all other ve- hicles, and motors for all purposes, and any and all parts. equipments and improvements thereof. or pertaining thereto; and to manufacture. buy. sell, lease, rent, exchange and deal in any and all machinery and implements used or required in any such manu- featuring or business; to make con tracts; to purchase. lease. bond. To- cate, or otherwise acquire. own. ex- change, sell or otherwise dispose of, pledge. mortgage. hypothccate aud deal in real estate. and any and all kinds of personal property, and patents and patent rights. and in general to do all things necessary and convenient to the proper conduct of the business of the corporation, not inconsistent with the laws of the United States and the Ter ritory of Arizona.
 THIRD. The capital stock shall be Six Hundred and Fifty Thousand Dol lars ts650000). divided into sixty-five hundred shares (6,500), of the par val ue of one hundred dollars (S10O) each. of which thirty-two hundred and fifty t3.25O shares shall be preferred stock, and thirty-two hundred and fifty (3,250) shares shall be common and all said stock shall be issued fully paid and non-assessable. at such time as the Board of Directors may desig- nate. in exchange for cash. property. services. or other valuable right or thing, and the judgment of the Board of Directors as to the value thereof shall be conclusive.
 FOURTH. That the net profits of this corporation shall be applied to the payment of dividends. at the dis erection of the Board of Directors, as follows:
 (a) Six per cent (6q6) per annum on the preferred stock:
 tb) An equal amount on the com mon stock, providing the earnings of the company are sufficient to pay six (6f) per cent on the common stock. Co Six per cent (69o) on the pre-. ferred stock, balance on the common stock. in addition to the above.
 td) The preferred stock shall be cumulative as to first dividends, and in case the full six per cent (6eo) first dividend is not paid in each year, the unpaid balance shall be carried over and included with the six per cent (6T5) of the succeeding year.
 FIFTH. The preferred stock of this corporation may be retired at not less than par, at any time a majority of the Board of Directors may direct.
 SIXTH. The affairs of this corpor- ration shall be conducted by Board of
 Directors consisting of five (5) per sons, and D. C. Denison, c. l.. Deni- son, O. l.. Hubbard. William H. Chad wick and Jacob E. Replogle. shall con- stitute the Board of Directors until the annual stockholders meeting, which shall be held on the first Monday of october in each year. commencing in 1908. The Board of Directors are en- powered to make such prudential By laws as they may deem necessary for the management of the corporation. to, fill vacancies in the Board and to ap- point other proper officers. with such powers as they may confer. SEVENTH. The highest amount of indebtedness or liability. direct or con- >fngent. to which this corporation is at any time subject shall be Four Hun dred Twenty-Five Thousand Dollars S425.00O, which amount does not ex- ceed two-t thirds of the amount of the capital stock.
 EIGHTH. The private property of the StOckholdars of tb;s