Daily Arizona silver belt., 1908-04-16
LEGAL ADVERTISEMENTS

N''oh"i "VfAihS ShpilaA UT US rS- serve fund to. meet contingencies, or : 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, if any, as the bylaws of the company may from time to time i'm. pose.
 Il (l3) And the board of directors 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 it's dis creton 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 company'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 directors 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.
 (l5) All the powers of the corpora tion arc 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dependent upon action by or consent of the stockhold- CTS, but bylaws made by the directors may be altered or repealed by the stockholders at any annual meeting, or at any special meeting, provided notice of the proposed alteration or repeal is included in the notice of such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, a full statement at the regular 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 cap ital stock of the corporation then is- sued and outstanding. Subject to tbe 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 tho stockholders, and no stoekholder 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 noth- 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 construction ana operation of railroads, or aiding in the construction thereof, telegraph and telephone companies and lines, and gas or electrical companies, and such businesses are to bo 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 ($t,000,000); 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 ($100) 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 (10,000) shares, amounting to ONE MILLION DOLLARS ($1, 1,O00,000) is preferred stock.
 The amount of capital stock already paid in is FOURTEEN HUNDRED DOLLARS ($1, 1,400).
 PREFERENCES: The holders of the preferred stock shall be entitled to re- ceive as and when declared from the surplus and net profits of the corpora tion 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 over common stock except as to divi