The oasis., 1907-02-16

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 lp in1 Ihg g tas s"l f,,ila, san, 'ef s1e6 :" sr4g t8pitai stoek is lb bp aud consist bf the follow lhR fUWt Foo thousand shares ti0WW shHli he Known and dpsenHied as oHifuon stock !. of the corporation and as such shall bp entitled tA dividpnhg in eunlunptiun with thp preferred stock 0f the corporation after the priority pay neht bf dividtnds of eight tsl per centum per annun from thc earnings of the corporation shall have been paid on the issued preferred shares as hereinafter provided, and Three thuusand tN,u00l shares Of the capital stock Of the corporation shall be known and designated as convertible. Cumulative, Eight Percent Preferred Annual Dividend Stock' and as such it shall have preference and priority over the Common Stock Of the corporation, in the ap porti0nment Of the corporations earnings, tO the extent of Eight (s1 per centum per annum and the payment of any and all accumulated dividends thereon to be payable annually on its par value when issued and in case of ad- verse or amicablc dissolution or termination ot this corporation, it shall in addition have the further preference in being considered, when issued, q prior lien Co the extent of its par value and cumulative interest as Go any and all of 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. 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 OASIS Oi Sufn COnNeFSlOU Sndll Dc one SUdEt Oi 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 ln- corporation shall make the duty mandatory OH the present and all future Board of Direct ors of this Corporation to set asii ie, during each year of it's existence, or until such time as all of the shares of Preferred stock Of the corporation is converted into Common Stock and retired sufficient of the first gross earnings of the corporation in each year tO liquidnte such annual dividend charges and any ae- cumulated dividen thereon as may be due or maturing during said year on the issued Pre- l ferred Shares.
 At such times and under such conditions as ] the Board of Directors may direct, such capital stock shall 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 oi | 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 oi | the Board of Directors as to the value of 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 of the in- crease of the capital stock, each shareholder oi 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 of share' ! held by him as evidenced by the Records o [ the company before the stock is increased. l ARTICLE VI. The business afairs of this cor ! pOraton shall be conducted by Board of D1 rectors consisting of not less than three noi more than eleven members, each of whom shall be a shareholder, and whenever a Di rector ceases t3 be H stockholder he shall at tho same time cease to be Director.
 They shall be elected annually by the stock
 holders at their annual meeting, which shal be held on the first Monday in January 1908
 and OF said date each year thereafter. and sa1f
 meetings to be held in any Of the offices 0 fta. hall hnl fhnte off until their successors are duly elected ant
 qualified.
 Bylaws of this corporation in the electioI ! of Directors shall provide, that the vote of anl 1 stockhOlder may be cast in person or by writ ten proxy, which written proxy when onG' executed shall continue in force until revoked in writing and such revocation filed with th' Secretary of the cOrpoTaton
 Any vacancy in the Board of Directors ma.
 be filled by the remaining members of thu
 Board by appointment irem among the stock | holders and such appOiu tment shall be for thu ! uuexpired term If which the appointment i
 made.
 The first Board of Directors shall consist 0 | the following persons, tO-wit: Charles | Bolen, Cyrus J. MitZel, Benjamin :. Phillips John Glasson and II. Gordon Glore.
 The present Board of Directors are empow ] cred to add to the Directorate, at any tim prior to the Annual Stockholders meeting, tt be held on the first Monday in January. 1908
 six new members. majority Of the Board q Directors shall constitute quorum for tn transaction of all business.
 The Directors shall have full power an'
 authority to adopt By laws and to change an' amend the same as they deem expedient
 It shall be duty mandatory on the Board Q Directors of this corporation, to annually set q
 side, sufficient amounts in cash from the corpoT
 atons first gross earnings, to be applied to tn exclusive purpose of liquidating all interest 0 dividend charges. matured or maturing durini the year on any and all If its issued and out
 standing Preferred Stock.
 All earnings of the corporation, exceptinl
 SO much thereof as may have been, or iron
 time to time is deemed expedient and neces
 sary by the Board of Directors to be set asid
 for the future successful conduct of it's busi
 ness, payment of liabilities purchasing
 equipping, developing Improvements, en
 Judgements, operations and for sinking fnn'
 or reserve purposes must be divided annual, ! by means of Dividends declared on the st0cl
 at the annual meeting. Said earnings to b
 rst apportioned to the extent of Eight pc
 centum per annum on the par value and pay
 ment of accumulated dividends, if any on tn
 outstanding issued Preferred Stock, all as pro
 vided in Article V herein.
 ! T in ma aft ta