Daily Arizona silver belt. (Globe, Gila County, Ariz.) 1906-1929, 1908-04-12
LEGAL ADVERTISEMENTS

|
} ditional working capital or Ms q re
serve fund TO meet contingencies, o,
: for equalizing dividends, or for repair
; ing, maintaining or improving any
. property Of the company, or for such
other corporate purposes as the board
shall think conducive to the interests
; OF the company, subject only to such
; limitations, IL any, as the bylaws OF
the company may from time to time i'm
pose.
(l3) And the board of diree tors
shall also have power to direct and de
/, termine the use and disposition of any
surplus or net profits over and above
the capital stock actually paid in, and
the amount required to pay dividends
on the preferred stock, and in its dis.
erection the board Of directors may use
and apply any such surplus or cumu.
lative profits in purchasing the bonds
or other obligations or shares of the
capital stock Of the company to such
extent and in such manner and upon
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-
tired for the purpose Of decreasing the
eompany's capital stock as provided by
law.
| (1D 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 direc tors
and shall not be allotted or offered pro
rata to the stockholders of the corpora
tion unless an express resolution to that
effect be passed by the directors.
Q5) All the powers of the corpora
tion are vested in the board of directors.
who shall be elected by the stockhold-
ers, and by which board bylaws may
be adopted, amended, changed or al
tered, except when the change of
bylaw or exercise of power is made
by statute expressly dependent upon
| action by or consent of the stockhold.
ers, 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may be altered or repealed by the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.
Q6) 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 liza
bilities of the corporation, and, gen.
orally, the condition of its affairs; and
similar statement shall be presented
at any other meeting of the stockhold-
ers when thereto required by persons
holding at least one-third of the cap.
ital 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 stakeholder
shall have any right to inspect any ae.
count 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 moth
ing herein contained shall be construed
to authorize the corporation to trans |
act business in any other state, terri. |
tory or foreign country contrary to the
provisions of the laws of such state, |
territory or foreign country, and that |
nothing in these purposes shall be con.
strued to give the corporation any
rights, powers or privileges not permit |
ted under the laws of the State of |
Maine to corporations organized under
Section of Chapter AZ of the Revised /
Statutes of the State of Maine, and
the following corporate purposes shall
be exercised only in states and terri. |
tories other than Maine, namely, the
hNtioh oBtIabiOu Va us,l
or aiding in the construction thereof,
telegraph and telephone companies and
lines, and gas or electrical companies,
and such businesses are to be carried
on only in states and Jurisdictions when
and where permissible under the laws
thereof.
The amount of the total authorized |
capital stock of this company is FOUR
MILLION DOLLARS $4,00O,000) the
number of shares into which the cap
ital stock is divided is forty thousand
(40,000) shares of the par value of
ONE HUNDRED DOLLARS (S100) |
each.
OF such total authorized capital stock
thirty thousand (30,000) shares, amount.
ing to THREE MILLION DOLLARS
($3,000,000) is common stock, and ten
thousand 100000 shares, amounting to
ONE MILLION DOLLARS 81, 000,O00)
is preferred stock
The amount of capital stock already
paid in is FOURTEEN HUNDRED
DOLLARS ($l, 400.
PREFERENCES: The holders of the
preferred stock shall be entitled TO re-
ceivc as and when declared from the
surplus and net profits of the corpora
ton yearly dividends at the rate Of six
(6) per cent, and no more, payable semi
annually on the first days of May and
November. These dividends on the pre-
ferred stock prior to and on the first
day of November, 1911, shall be non
cumulative. but from and after that
date such dividends shall be cumulative.
Preferred stock shall have no preference