Arizona republican. [volume] (Phoenix, Ariz.) 1890-1930, 1911-05-23

sand shares (24.O00) of the par value
of one hundred dollars ($IOO) each. The
holders of, the Preferred Stock shall bt
entitled to receive, when and as de-
clared, from the surplus or net profit
of the corporation, yearly dividends al
the rate Of seven per cent G per cent
| 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 be
cumulative and shall be payable before
any dividends on the Common Stock
shall be paid. or set apart. so that if in
any year dividends amounting to seven
per cent q per cent? 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-
vious years shall have been declared
and shall have become payable, and
accrued semi-annual installments for
the current year shall have been de
clared, and the company shall have paid
such cumulative dividends for previ-
Gus 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 of 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 ($1O5) 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 up of the cor
poration. the holders of the Preferred
Stock shall be 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 payment 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 paid 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 10 a CO or nl,.lr, FRO,
fer of real or personal property, the
bonds or stock of other corporations,
or for services rendered. and to 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
so 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.
II.
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, (s75O,00O).
III
And further, atNsaid meeting. it was
duly resolved that the President of this
company sign and acknowledge a GER
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, I have
hereunto set my hand 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 - be af-
fixed. all on this goth day of April,
1911
(SEAL) F. J. HOBSON,
President of Said Corporation.
Attest:
LESLIE c. HARDY.
Assistant Secretary. (SEAL)
Territory of Arizona, County of
Pima, SIS.
bcAOIt llle, btpple LtSIlt, 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
to be the President of the said Santa
Cruz & Sonora Reduction Company,
and acknowledged to me as such
President, that he executed the above
and foregoing instrument as the free
act and deed of said corporation, by
him voluntarily executed, and for the
purposes and considerations therein
set forth.
WITNESS my hand and seal of office
this goth day of April, a. d. 1911.
My commission expires December g..
1913.
(SEAL) BEPPIE LESLIE,
Notary Public.