Arizona republican., 1910-05-26

Four Million Dollars (si,OOO,0oO) shall
 be preferred.
 Sec 2. Six per cent (6ec) cumulative
 dividends shall be paid annually on 1 preferred stock out of the surplus or
 profits of the corporation before any dividends shall be declared upon the
 common stock.
 { Preferred stock shall he non-votinS
 and may be retired by the Board of 1 Directors after one year by giving go ] days notice and by paying par value ! plus accrued dividends. { Sec f Common stock shall not he ] sold or disposed of until the stockhold i CT desiring to sell shall have first of ' fered the same to the remaining hold i CTS of common stock. as shown by the books of the corporation. And for 3o | days said stockholders shall have an 1 option to buy said stock in proportion to the amount already held by them.
 See !. 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 he 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 he managed by 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 9 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. $. Northrop. Chairman. Daniel ODonald. 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 E. l.. James: Vice President. Dan. O'Don- 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. ?. 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 d riajority of the common stock outstanding. but at i 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 8 At all stockholders meetings each holder of common stock shall he 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 shail at any time subject itself is two 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 ton shall have the right of perpetual succession, may sue and be sued in it's corporate name. and may have
 seal which it may alter at pleasure. Article XII. Dissolution This corporation may be dissolved
 by majority vote of the outstanding
 stock at any regular pr special stock holders meeting.
 Article XIII.
 Amendments. These articles may be altered or