Arizona republican., 1910-06-03

The principal place of business or this corporation shall be at Des Moines. Iowa, and its principal place of busi- ness within the Territory of Arizona shall be at Phoenix, Arizona, hut oth- CT places of business may. be estab- lished by the Board of Directors.
 Article III
 Commencement of Business.
 This corporation shall commence business as soon as it's articles are filed in the office of the Auditor of the Ter ritory of Arizona and it's corporate ex- istence shall terminate twenty-five (25) years thereafter.
 Article ".
 Powers and purposes.
 This corporation shall have power to manufacture, buy, sell Cat wholesale or retaiD, trade or deal in merchan- disc of every kind and nature, building materials. live stock, produce. fuel. and every other article of use or sale; to acquire, hold, lease and dispose of property, both real and persOnal; to own and operate factories and stores; to acquire, own, hold and dispose of the capital stock of other corporations; to make contracts and leases, execute mortgages and bonds, and to engage in any line of business or do any act or thing which may be hereafter decided upon by it's Board of Directors; and this corporation shall be entitled to all the rights and powers which now are or may be hereafter bestowed upon corporations by law.
 Article V.
 Capital Stock
 Section 1. The authorized capital stock of this corporation shall be Five Million Dollars (s5.OOO,OOO), divided into shares of the par value of One Hundred Dollars (s100) each.
 Sec. g. one Million Dollars (s1.000. OO0) of stock shall be common and Four Million Dollars (s4,OOO,O ,OOO) shall be preferred.
 Sec. 3. Six per cent (6q5) cumulative dividends shall be paid annually on preferred stock out of the surplus or profits of the corporation before any dividends shall be declared upon the common stock.
 Preferred stock shall be non-voting and may be retired by the Board of Directors after one year by giving 30 days notice and by paying par value plus accrued dividends.
 Sec 4 Common stock shall not be sold or disposed of until the stockhOld CT desiring to sell shall have first of fered the same to the remaining hold CTS of common stock, as shown by the books of the corporation. And for 30 days said stockholders shall have an option to buy said stock in proportion to the amount already held by them. Sec 5. Stock shall be issued and paid for as decided upon by the Board of Directors, and it may be paid for in money. labor. property or any other thing of value, and the entire amount of the authorized capital stock need not be issued at the commencement of business.
 Sec. 6. Stock shall be transferable on the books of the corporation as pro- vided by the Board of Directors.
 Article VI.
 Management
 Section l. The affairs of this cor poration shall be managed by a Board of Directors composed of not less than three nor more than eleven persons. the exact number to be fixed in the By Laws.
 Sec. 2. The Board of Directors shall be elected annually at the regular an nual stockholders' meeting. and shall hold office for one year and until their successors are elected and qualify. Un til the first election the following shall compose the Board of Directors: F. l.. James, Geo. L. Dobson, Ben J. Ness, C. S. Northrop, Chairman. Daniel ODonald, c. B. Cassill and H. C. Armstrong.
 Article VII
 Officers.
 The Board of Directors shall elect president, vice-president, secretary, treasurer and general manager. One person may hold one or more office. Until the first election the following shall serve as officers: President, D. L. James; Vice President, Dan. ODon- aid: Secretary. C. B. Cassill: Treas urer, Geo. l.. Dobson; General Man ager, c. S. Northrop.
 Article VIII.
 Meetings.
 Section 1. The regular annual meet ing of the stockholders of the corpora tion shall be held on the second We'd nesday of January in each year at Des Moines, Iowa, for the purpose of elect ing a Board of Directors for the en- suing year. and for the transaction of such other business as may regularly come before such meeting. The first annual meeting shall he held in Des Moines, Iowa, in January, 1911.
 Sec. 2. Special meetings of stock holders shall be called by the secretary at the request-of a majority of the Board of Directors, or upon the writ ten petition of holders of a majority of the common stock outstanding, but at least ten days notice in writing of such meeting shall be given by the Secretary to every holder of common stock, as shown by the books of the corporation. stating the time. place and object of such meeting. Said notice shall be mailed to the last known resi- dence of each stockholder.
 Sec. 3. At all stockholders meetings each holder of common stock shall be entitled to cast one vote for each share of stock held by him. Voting may be done by proxy when properly evidenced in writing.
 Article TX.
 Indebtedness.
 The highest amount of indebtedness to which this corporation shall at any time subject itself is two-thirds of the amount of it's capital stock.
 Article <.