Arizona republican., 1911-05-18

per annum, and no more. payable semi
 annually. and upon dates to be fixed
 by the Board Of Directors The divi- dends on the Preferred Stock shall. b,
 cumulative and shall be payable befor, any dividends on the Common Stock 1 shall be paid. or set apart. so that if ir any year dividends amounting to seven per cent = per cenD shall not be paid ! thereon. the deficiency shall be pay able before any dividends shall be paid upon or set apart for the Common Stock
 Whenever all cumulative Dividends upon the Preferred stock for all pre- yious years shall have been declared Fand shall have become payable. and accrued Somi-annual miscellaneous for the current year shall have been de clarod and the company shall have paid such cumulative dividends for preVi- ouS years, and such accrued semi-an- nual installments. or shall have set aside from its surplus or net profits a sum sufficient for the payments thereof. the Board or Directors may de- clare dividends upon the Common Stock. payable then or thereafter out Of any remaining surplus or net pro ceedS.
 The holders of preferred stock shall not be entitled to any voting powers in the corporation. The preferred stock shall be subject to redemption or re- tirement at the option of the corpora ton. at any time. at the price of one hundred and five dollars CS105) for each share. and the amount of divi- dends cumulated and unpaid thereon at the date of redemption.
 In the event Of any liquidation or dissolution or winding mp of the cor poration. the holders of the Preferred Stock shall he entitled to be paid in full both the par amount of their shares and the unpaid dividends ac- crued thereon before any amount shall be paid To the holders of the Common Stock. and after the paymen, to the holders of the Preferred Stock of its par value, and the unpaid accrued divi- dends thereon, the remaining assets and funds shall be divided and pad to the holders of the Common Stock. pro rata according to their respective shares
 The Board Of Directors may cause said capital stock or any part thereof to be subscribed or paid for in cash. in the purchase or exchange or trans fer of real or personal property, the bonds or stock of other corporations, or for services rendered. and 10 issue or cause to be issued any part or all Of the capital stock as required at any time, or from time to time, and when SD issued it shall be fully paid and non -assessable, and in the absence of fraud in the transaction. the Judgment of the Board of Directors as to the value of the property purchased or transferred. or exchanged, or services rendered, shall be conclusive.
 Article : was amended so as to read as follows:
 ARTICLE :. The highest amount of indebtedness or liability to which this corporation is at any time to subject itself. is the sum of seven hundred and fifty thousand dollars. (S750. .0OO).
 III
 And further at said meeting. it was duly resolved that the President of this company sign and acknowledge a cer- tificate of the above amendments tO said Articles of Incorporation. and that the Secretary of the company. or As sistant Secretary. attest the same. and that said officers do all acts and things necessary or lawful in the premises to make said amendments effective.
 IN WITNESS WHEREOF, l have hereunto set my hant and seal as President of said corporation, and caused the same to be attested by the Assistant Secretary of said corpora ton. and the corporate seal 'p be af- fixed, all on this 20th day Of April, 1911
 (SEAL) F. J. ROBSON.
 President of Said Corporation. Attest:
 LESLIE C. HARDY.
 Assistant Secretary. (SEAL)
 Territory Of Arizona, County of Pima, ss
 Before me, Beppie Leslie, d Notary Public in and for the said County of Pima. Territory of Arizona. this day personallyappeared Francis J. Hobson. President of santa cruz and Sonora Reduction Company. to me known to be such person, and known to me