Arizona republican. [volume] (Phoenix, Ariz.) 1890-1930, 1910-06-04

! u ACQUIRE OWIl, HOlu ana dispose 81
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 its 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 l. The authorized capital
stock of this corporation shall be Five
Million Dollars Cs5.OOO,0OO), divided
/ into shares OF the par value of One
| Hundred Dollars ($100) each.
Sec. 2. One Million Dollars $1,000
| 000) of stock shall be common. and
Four Million Dollars (S4,OO0,OOO) shall
be preferred.
Sec. 3. Six per cent (6qs) 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-yoting
and may be retired by the Board of
Directors after one year by giving 80
days notice and by paying par value
plus accrued dividends
Sec. 4. Common stock shall not be
sold or disposed Of until the stockhold-
er desiring TO sell shall have first Of
fered the same to the remaining hold
ers Of common stock, as shown by the
books of the corporation. And for 80
col -4A III Il.
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 /. 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. I'm |
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
O'DOnald. c. B. Cassill and H c. |
Armstrong.
Article VII.
Officers.
The Board Of Directors shall elect
president, 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, Z.
l.. James; Vice President, Dan. O'DOn-
aid; Secretary, c. B. Cassin: 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
ton shall be held on the second We'd
lesday of January in each year at Des
Moines. Iowa, for the purpose of elect
ng a Board of Directors for the en- |
suing year. and for the transaction of
such other business as may regularly ]
,ome before such meeting. The first !
annual meeting shall be held in Des :
Ioines, Iowa, in January. 1911.
Sec. 2. Special meetings of stock {
folders shall be called by the secretary {
t the request of a majority of the {
Board of Directors, or upon the writ a
en- petition of holders of a majority of | O
he common stock outstanding, but at
east ten days notice in writing of +
UGH meeting shall be given by the I
to every holder of common
took, as shown by the books of the 6
stating the time, place and
bject of such meeting. Said notice
hall be mailed to the last known resi-
ence of each stakeholder &
Sec. 3. At all stockholders meetings G
ach holder of common stock shall be
ntitled to cast one vote for each share Il
stock held by him. Voting may be 8:
one by proxy when properly evidenced
writing. n
Article TX.
Indebtedness. o;
The highest amount of Indebtedness
which this corporation shall at any re-
me subject itself is two-thirds OF the
mount of its capital stock
Article Y.
Private Property Exempt. /.
The private property of members OF
is corporation shall be, exempt from I
'rporate debts.
Article XI.
Miscellaneous. "
The Board of Directors shall have
'wer to make and establish Bylaws SC
r the regulation and management of Is
e corporations affairs; the corpora
IN shall have the right of perpetual W
ccession. may sue and be sued in ar
corporate name, and may have a
al which it may alter at pleasure. &c
Article XII
Dissolution.
This corporation may be dissolved