Daily Arizona silver belt., 1908-04-15
LEGAL ADVERTISEMENTS

9 ditional working capital or as rt serve fund to meet contingencies, o r for equalizing dividends. or for repair s ing, maintaining or improving an property of the company, or for sue other corporate purposes as the boar shall think conducive to the interest 5 of the company, subject only to sue
 limitations, if any, as the bylaws O the company may from time to time i'm . pose.
 l (l3) And the board of director
 shall also have power to direct and de termine the use and disposition of an,
 surplus or net profits over and abov, the capital stock actually paid in, ana the amount required to pay dividendi
 on the preferred stock. and in it's dis
 cretion the board of directors may ust
 and apply any such surplus or cumu
 lative profits in purchasing the bond,
 or other obligations or shares of tn,
 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 our.
 chased or acquired may be re-sold, un.
 less such shares shall have been re.
 tired Tor 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 direct tors
 and shall not be allotted or offered pro
 rata to the stockholders of the corpora.
 ton unless an express resolution to that
 effect be passed by the directors. I5) All tho powers of the corpora.
 tion 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 stockhold, CTS, but bylaws made by the director
 may be altered or repealed by the stockholders at any annual meeting.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 regularf annual meeting of the stockholders. showing in detail the assets and lia. bilities of the corporation, and, gen orally, the condition of it's affairs; and 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 can. | 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 the accounts, records and books of the corporation, or any of ,hem, shall be open to the inspection of the stockholders, and no stockholder shall have any right to inspect any ac. count or book, or document, of the corporation, except as prescribed here 'y or by statute or authorized by the bylaws or by express resolution of the board of directors, or by a resolution of he stockholders.
 PROVIDED, HOWEVER. that notb. ng herein contained shall be construed o authorize the corporation to trans Ict business in any other state. terri ory or foreign country contrary to the provisions of the laws of such state. , erritory or foreign country, and that othing in these purposes shall be con. , trued to give the corporation any z ights, powers or privileges not permit ed under the laws of the State of iaine to corporations organized under ection of Chapter 47 of the Revised tatutes of the State of Maine. and he following corporate purposes shall c exercised only in states and terri. ories other than Maine, namely, the obstruction and operation of railroads. T aiding in the construction thereof. slegraph and telephone companies and nes, and gas or electrical companies. nd such businesses are to be carried ' T only in states and jurisdictions when II nd where permissible under the laws hereof.
 The amount of the total authorized c 'pital stock of this company is FOUR IILLION DOLLARS ($i,000,000); the amber of shares into which the cap- ., al stock is divided is forty thousand 10000 shares of the par value of NE HUNDRED DOLLARS (slOO) ,ch.
 Of such total authorized capital stocl, lirty thousand (30,000) shares, amount. g to THREE MILLION DOLLARS '3,000,000) is common stock, and ten s ousand (10,000) shares, amounting to NE MILLION DOLLARS 1000, ,000)
 preferred stock
 The amount of capital stock already e, lid in is FOURTEEN HUNDRED OLLARS ($l, ,400).
 PREFERENCES: The holders of the eferred stock shall be entitled to re- i've as and when declared from the ol rplus and net profits of the corpora m 'n yearly dividends at the rate of six ) per cent, and no more, payable semi nually on the first days of May and ovember These dividends on the pre- T rred stock prior to and on the first y of November, 1911, shall be non. but from and after that al tn cnnh diuidondn nhau ha aup,..laI;.a 1