Arizona republican., 1912-02-16

! sale ana transfer To the corporation
of real ar personal property. or by
services rendered. i'll payment for
which shares of the capital stock Of
| this corporation may be issued. aud
the Judgment of the Board of Direct
! ors as To the value of such property
services or rights 50 acquired shall
be conclusive: and all of said stock
when 50 issued shall he fully paid and
! forever worcestershire Said capitol
stock shall be paid in and shall be
issued at such times and upon such
conditions as the Board of Directors
shall determine and direct
OF said capital stock. thirteen
thousand Q3.00O shares. amounting
at par to one Million Three Hundred
Thousand CSl.3O0.0000O) Dollars shall
be preferred stock, and two thousand
C2.O0O) shares amounting at par 10
Two Hundred Thousand ($2O0,o0O,0W
Dollars. shall Ice common stock.
The rights privileges and condi-
lions following. shall bc attached t.
the respective classes of shares of
stock aforesaid. that is to say:
FIRST: The preferred stock. AM
the holders thereof, shall have no
voting power or privilege, lat 1hc
common stock and the holders there
of. shall have all the voting power
and privilege.
SECOND: Three Thousand (3.00O
shares of said preferred shares 80
issued shall carry a fixed cumulative
preferential dividend at the rate of
eight oS) per cent per anaUm ON the
par value thereof. To be computed
from the date of issue thereof #
i'm any year dividends amounting To
eight (S) per cent per annum shall
not be paid on said preferred stock.
the deficiency shall be charge
against the net profits of the corpora
ton. and Ice payable. but without in
terest. before any dividends shall be
paid or set apart for the common
stock.
Ten Thousand 10000 shares Of
said preferred shares So issued shall
carry a fixed cumulative preferential
dividend ut the rate OF six 90 per
cent per annIm on the par value
Il ereof, to be computed from the
date of issue thereof. If any year
dividends amounting To- six Co per
said preferred stock. the deficiency
shall be a charge on the net profits
of the corporation and be payable, but
without interest, before any dividends
shall be paid or set apart for thc
common stock.
In the payment ~ The cumulative
dividends upon the said preferred
stock. no privilege or preference shall
attach to either the said eight 90
per cent or tht said six 90 per cent.
the one over the other. but each share
Of said preferred stock. whether en-
titled To eight 90 per cent or six 90
per cent dividend. shall be entitled
to participate in the profits applied
10 dividends pro rata To the extent
If the rate of dividend attached To
the respective shares
THIRD: After the payment of said
cumulative dividends. at the rates dc
siEnated. To the holders Of the pre-
ferred stock. cumulative dividends At
the rate of six Co per cent per an /
mIm on the par value thereof. may
br distributed AMI paid to the hold |
crS of the common stock, as and
when the Board of Directors shall in
their discretion determine.
FOURTH: After the payment of !
said cumulative dividends at the rate
rf six co per cent per annum to the |
holders Of said common stock. and At the
rates specified for said preferred stock, |
all additional dividends shall be pay
able To all of the issued stock. pr e. /
ferred and common. share and shd = |
alike
FIFTH: The corporation, at its op- /
ton. shall have tn" right to call ~. |
redeem, cancel and retire any part I
of the said preferred stock. bearing |
the eight % per cent cumulative di- |
vidrnd at any time after three years |
from the date Of it's issue. by pay |
ing therefor the full par value thereof. !
and the dividends, if any. accrued |
thereon. The said corporation shall |
have the further right at any time |
to redeem, cancel and retire any part |
OF any of the said preferred stock by |
mutual agreement between the owner /!
thereof and the Board of Directors. |
by paying therefor any sum not ex-
ceeling the par value Of said stock, !
and accrued dividends.
ARTICLE VI
The highest amount Of Indebtedness /
To which this corporation is at any /
time To- subject itself. or to be sub |
joct at any one time. shall not OK !
coed the sj.m OF Five Hundred Thous |
and (s5O0,0 100000 Dollars. exclusive of
deposits and funds received |
in any fiduciary capacity.
IN WITNESS WHEREOF, this in |
strument is executed by the president !
and secretary of said corporation. and |
its seal hereto affixed. this 10th day
OF February. 1872.
(SEAL)
ARIZONA TRUST COMPANY.
Attested by. l.. e. BERRYMAN.
President.
Attested 10y. ALE. c. LIE BARON.
Secretary.
Territory of Arizona. County Of
Maricopa. IS.
Before ne, LySander Cassidy NO
tary Public in and for said County. |
Arizona Territory. on this day person.
ally appeared g. :. Bergman and
All G.. lie Baron known To me to be
the persons whose names are sub
scribed to the foregoing instrument
as president and secretary of the
described i'm the foregoing
Instrument and as such president and