Daily Arizona silver belt., 1908-04-17
LEGAL ADVERTISEMENTS

to ditional working capital or as rt ,f serve fund to meet contingencies. o 'r for equalizing dividends, or for repair Is ing,e maintaining or improving an a. property of the company, or for sue k, other corporate purposes as the boar d shall think conducive to the interest Is of the company, subject only to sucl l. limitations, if any, as the bylaws O 5, the company may from time to time i'm l. pose.
 n (13) And the board of direct
 shall also have power to direct and de }, termine the use and disposition of any , surplus or net profits over and abov, e the capital stock actually paid in, ant T the amount required to pay dividend. on the preferred stock. and in it's dis E cretion the board of directors may use e and apply any such surplus or cumu I lative profits in purchasing the bonds , or other obligations or shares of the !. capital stock of the company to such 5 extent and in such manner and upon 5 such terms as it may deem expedient } and shares of such capital stock so pur- : chased or acquired may be re-sold, un- } less such shares shall have been re- l tired for the purpose of decreasing the company's capital stock as provided by law.
 (l4) Treasury stock and increases
 of capital stock shall be sold at public or private sale, or be distributed or otherwise used or disposed of to the
 advantage of the company in accordance
 with resolutions passed by the directors
 and shall not be allotted or offered pro
 rata to the stockholders of the corpora
 ten unless an express resolution to that
 effect be passed by the directors. | (l5) All the powers of the corpora
 ton are vested in the board of directors,
 who shall be elected by the stockhold
 CTS, and by which board bylaws may
 be adopted, amended, changed or al.
 tered, except when the change of a
 bylaw or exercise of power is made
 by statute expressely dependent upon
 action by or consent of the stockhoId
 CTS, but bylaws made by the directors
 may be altered or repealed by the
 stockholders at any annual meeting or
 at any special meeting, provided notice
 of the proposed alteration or repeal is
 included in the notice of such special
 meeting
 (l6) The directors shall present. or
 cause to be presented by the proper
 officers, full statement at the regular
 annual meeting of the stockholders.
 showing in detail the assets and lia.
 bilities of the corporation, and, gen
 erally, the condition of its affairs; and
 a similar statement shall be presented at any other meeting of the stockhold CTS when thereto required by persons
 holding at least one-third of the cap itai stock of the corporation then is. sued and outstanding. Subject to the provisions hereof and of the bylaws and of the laws of the State of Maine, the board of directors from time to time shall determine whether and to what extent and at what times and places, and under what conditions and regulations, the accounts, records and books of the corporation. or any of them, shall be open to the inspection of the stockholders, and no stockholder shall have any right to inspect any, ac- connt or book, or document. of the corporation, except as prescribed here by or by statute or authorized by the bylaws or by express resolution of the board of directors, or by resolution of the stockholders.
 PROVIDED, HOWEVER. that noth. < ing herein contained shall be construed 10 authorize the corporation to trans act business in any other state, terri. f 'ory or foreign country contrary to the \ of the laws of such state. | z territory or foreign country, and that | iothing in these purposes shall be con. \ 'trued to give the corporation any lights, powers or privileges not permit Q ed under the laws of the State of Maine to corporations organized under section of Chapter 47 of the Revised Statutes of the State of Maine, and he following corporate purposes shall e 'e exercised only in states and terri ories osher than Maine, namely, the obstruction and operation of railroads. 1T aiding in the construction thereof. telegraph and telephone companies and q ines, and gas or electrical companies. s' nd such businesses are to be carried IS n only in states and jurisdictions when '' nd where permissible under the laws hereof
 The amount of the total authorized c apital stock of this company is FOUR BILLION DOLLARS ($4 1000 ,OOO); the umber of shares into which the cap- n, sal stock is divided is forty thousand a- 100000 shares of the par value of NE HUNDRED DOLLARS ($lO0) ach.
 Of such total authorized capital stock lirty thousand (30,00O) shares, amount ig to THREE MILLION DOLLARS S3,000,000) is common stock, and ten s, lousand (l0000) shares, amounting to NE MILLION DOLLARS ($1, ,OOO, ,0OO)
 preferred stock
 aid in is FOURTEEN HUNDRED OLLARS ($1,4OO).
 PREFERENCES: The holders of the referred stock shall be entitled to re- tive as and when declared from the or lrplus and net profits of the corpora m on yearly dividends at the rate of six ) per cent, and no more, payable semi nnnally on the first days of May and ovember. These dividends on the pre- TT 'rred stock prior to and on the first ny of November, 1911, shall be non- but from and after that an 'te such dividends shall be cumulative. Al referred stock shall have no preference ab