Arizona republican., 1910-06-01

1 The prlncipdl place Of business of 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, but oth- CT places of business may be estab- i lished by the Beard 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 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 Cs5,00O,OO0), divided into shares of the par value of One Hundred Dollars (s1O0) each.
 Sec. 2. One Million Dollars (s1,000,- O00) of stock shall be common and Four Million Dollars ($4,OO0,0O0) shall be preferred.
 See. 3. Six per cent (69o) 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. 6tStock 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 ID IT 
 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- 1 ald: Secretary. c. B. Cassll: Treas | Irer. Geo. L. Dobson; General Man iger. C. S. Northrop.
 Article VIII
 Meetings.
 Section 1. The regular annual meet | ng of the stockholders of the corpora ion shall be held on the second Wed 1esday of January in each year at Des Moines. Iowa, for the purpose of elect ng a Board of Directors for the en- 'uing year. and for the transaction of 'uch other business as may regularly ,ome before such meeting. The first meeting shall be held in Des Iowa, in January. 1911.
 Sec. 2. Special meetings of stock folders shall be called by the secretary 1t the request of majority of the Board of Directors, or upon the writ en petition of holders of majority of he common stock outstanding. but at east ten days, notice in writing of uch meeting shall be given by the Secretary to every holder of common tock, as shown by the books of the orporation, stating the time. place and bject of such meeting. Said notice hall be mailed to the last known resi- Ience of each stockholder.
 Sec 3. At all stockholders meetings ach holder of common stock shall be untitled to cast one vote for each share f stock held by him. Voting may be lone by proxy when properly evidenced n writing.
 Article TX.
 Indebtedness.
 The highest amount of indebtedness o which this corporation shall at any ime subject itself is two-thirds of the mount of its capital stock.