Daily Arizona silver belt., 1909-01-09
liDaAL ADvERr1aRa1ENrs

| by reference to or reference from the terms of any other clause or paragraph herein, but the several objects and pow CTS specified herein shall be regarded as independent objects and powers, any and all of which may at any time be undertaken and availed of by the Com nanv
 | The Board of Directors when elected shall, subject to the provisions of Chap ter Eighty four of the Public Laws of 1891, have power with the assent in writing or pursuant to the vote of the holders of two-thirds of the capital stock issued and outstanding, to sell, assign, transfer or convey, or otherwise dispose of the property, assets, effects, franchises and good will of the corpor- ation as an entirety.
 Unless authorized in votes given in person or by proxy by stockholders holding at least majority of the issued and outstanding capital stock of the corporation, which is represented and voted upon in person or by proxy at meeting specially called for that rur pose or at an annual meeting or by the consent in writing of such majority of stoc ckholders, the Board of Directors shall not mortgage or pledge any of its real or personal property. The corporation, shall have power to conduct its business in all of its branch es, and have one or more offices, and to hold, pure hase and convey real and per sonal property both within and without the State of Maine, and in all the states and territories and dependencies of the United States, and in all foreign countries.
 The directors shall from time to time determine at what time and place and under what conditions and regulations the accounts and books of the corpor- ation or any of them shall be open to the inspection of the subscribers, and no stockholder shall have the right to inspect any account, book or docu- ment of the corporati >n except as con ferred by the Statutes of the State of Maine.
 The directors snail have power to hold their meetings, to have one or more offices, and to keep the books of the corporation, excepting those books which under the laws of the State of Maine are required to be kept within the State of Maine, outside of the State of Maine, and at such places as may from time to time be designated by them
 The amount of the capitai stock is ten million dollars, ($N0,eoo,ooo). di- vided into one million Q,0o0,00o) shares each of the par value of ten dol- lars ($lO), of which nine hundre thous and (9O0,000) shares is common stock and one hundred thousand tlO0,ooo) shares is preferred stock.
 The rights and preferences of the pre- ferred stock as determined ty the by laws arc as follows;
 The one hundred thousand (10o,Oo0) shares of preferred stock shall be con vertible at any time by the holder of the same or any part thereof, at his option. into an equal number of shares of common stock, and when any of said preferred shares are offered for conver- sion the new corporation may and shall issue full paid and non-assessable shares of common stock of equal mum Der and par value to take the place of the shares of preferred 30 converted, which preferred shares shall be can celled and shall thereupon become and thereafter remain common stock, and no issue of preferred shares shall ever thereafter be issued in place thereof.
 Said one hundred thousand (ln0,0O0) shares of preferred stock, before con version, shall be entitled to preferen. tial cumulative dividends of six per cent per annum, payable before any dividends are declared or paid on the common stock; SO that, if in any year dividends amounting to six per cent shall not have been paid thereon. the deficiency shall be payable before any dividends shall be paid upon or set apart for the common stock.
 Such preferred stock shall have no preference over the common stock in voting power and shall not be entitled to participate in the earnings beyond said cumulative six per cent, and in the event of any liquidation of the corpor- ation or its property, the preferred stock shall not enjoy any preference whatever over the common stock.
 The amount of capital stock already paid in is nothing.
 The names and residences of the own CTS of said shares are as follows: Names Residences No. of Shares
 Common Preferred Joseph Williamson
 Augusta. Maine ?
 Ernest l.. Mclean,
 Augusta, Maine 2
 Walter M Sanhorn