Arizona republican., 1911-05-19

of one hundred dollars ,$l00) each. The
 holders of the Preferred Stock shall bs
 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 C 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 he paid. or set apart. so that if in lany year dividends amounting to seven per cent (7 per cenD shall not be paid
 thereon, the deficiency shall be pay lable 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 laccrued semi-annual installments for the current year shall have been de- lclared, and the company shall have paid such cumulative dividends for preVi- Ous years. and such accrued senni-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 1 ceeds.
 1 The holders of preferred stock shall not be entitled tO any voting powers ] shall be subject to redemption or re- 1 tirement at the option of the corpora ton. at any time. at the price of one 1 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 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 l Stock. and after the payment to the 1 holders of the Preferred stock of its par value, and the unpaid accrued divi- ldends thereon, the remaining assets and i 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, l 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 1t shall be fully paid and 1 non -assessable, and in the absence of fraud in the transaction. the judgment 1 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, ($750,000). 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 rla 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 tion. and the corporate seal - be af- fixed. all on this goth day of April, 1911
 (SEAL) F. J. ROBSON.
 President Of Said Corporation. Attest:
 LESLIE c. HARDY,
 Assistant Secretary CSEALO
 Territory. Of Arizona, County of Pima. ss.
 Before me, Beppie Leslie, a 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 X 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 I, this 20th day of April, A. D. 1911.
 My commission expires December Q, | 1913 tSEAL) BEPPIE LESLIE,
 Notary Public.