Arizona republican., 1910-06-02

olSe Of every kind and nature, building materials, live stock, produce, fuel. and i every other article of use or sale; to I acquire, hold. lease and dispose of i 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 i mortgages and bonds, and to engage in> | any line of business or do any act or thing which may be hereafter decided upon by its Board of Directors; and | this corporation shall be entitled to all 1 the rights and powers which now are or may be hereafter bestowed upon l corporations by law.
 Article V.
 Capital Stock. | Section | The authorized capital stock of this corpora ton shall be Five Million Dollars ($5.0O0,O0O). divided l into shares of the par value of One Hundred Dollars (s1OO) each.
 Sec. 2. One Million Dollars (s1,O0O,- | 000) of stock shall be common and Four Million Dollars H4,O00,000) shall be preferred.
 Sec. 3. Six per cent (6fo) 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 1 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 90 days said stockholders shall have an option to buy said stock in proportion to the amount already held by them. Sec. ,. 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 | The affairs of this cor poration shall be managed by a Board | of Directors composed of not less than l three nor more than eleven persons, the l exact number to be fixed in the By | Laws.
 Sec. 2. The Board of Directors shall l be elected annually at the regular an eha hold office for one year and until their 1 successors are elected and qualify. Un- | til the first election the following shall l compose the Board of Directors: F. L. | James. Geo. L. DobsOn. Ben J. Ness, l C. s. Northrop, Chairman. Daniel | O'Donald. C. B. Casslll 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. E. l.. James; Vice-President, Dan. O'DOn- aid; Secretary, c. B. Cassill; Treas urer, Geo. l.. Dobson; General Man aSer, C. S. NOrtnrOp.
 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 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 be 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 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 stating the time, place and object of such meeting Said notice shall be mailed to the last known resi- dence of each stockholder. Sec 8 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 l: in writing. lt
 Article TX. |
 Indebtedness The highest amount of indebtedness 1 to which this corporation shaIl at any time subject itself is thirds of the amount of it's capital stock.
 Article x.
 Private Property Exempt.
 The private property of members of this corporation shall be exempt from corporate debts.
 Article XI.
 Miscellaneous. The Board of Directors shall have power to make and establish Bylaws for the regulation and management of the corporations affairs; the corpora tion shall have the right of perpetual ' succession. may sue and be sued in it's corporate name, and may have a seal which it may alter at pleasure. {
 Article XII.
 Dissolution.
 This corporation may be dissolved