The oasis., 1912-11-09

struct and operate and maintain Rail-Roads, Electric Roads, Tramways, Wagon Roads, Canals. Fumes, Pipe Lines. or Telephone Lines or other agencies or means of Transpor- tation suitable or convenient for the conduct of it's business. To acquire Water Rights, to . dig Wells, or bore Artesan Wells, and main tain the same or to do any lawful act or per formance, necessary or incidental to the sale and profitable conduct of its business.
 ARTICLE "
 The Capital Stock of this Corporation shall | be Two Million Five Hundred Thousand Dollars ($25e0 000) divided into Two Million l Five Hundred Thousand Shares of the par value of One dollar each per share. Of the above named amount, One Million Four Hun. dred Thousand Q.400,000) thereof shall be preferred Stock and the balance One Million l One Hundred Thousand 0.l0O.000) thereof shall | be common Stock.
 The preferred Stock shall have preference , | over the common Stock in respect to dividends ! The net profits realized from the operation of Mines, and handling high grade Real Estate in which the funds of the Company may have been invested including the rentals and the net profits realized whenever sale Is made shall be divided in the following manner; | FIRST: Ten per cent Q0Z) from the gross net profits, on all the issued and outstanding pre- ferred Stock of the Corporation. to the holders l thereof, as a preferred dividend. i SECOND: Five per cent (5%) ot the net profits 1 in excess of the said Ten per cent to be placed in reserved fund until the said fund shall have reached Twenty per cent (2O%) of the Capital St0ck or the corporation, then same LO be divided share an1 share alike among the 1 holders of preferred and Common Stock of the Company.
 THIRD: The balance of the said profits to be divided and paid to the holders of preferred and common Stock of the Corporation, equally share and share alike.
 FOURTH: The net profits from the invested re.erve fund shall be equally divided and paid share and share alike to the holders ofpre- ferred and common stock of the Company.
 All diyidends payable from the net profits oi the Corporation are to be made semi.annnally on the first day of April and October of each year
 As a precautionary measure, for the benefit of each investor, the Board of Directors may issue the Common Stock of the Corporation in payment for its properties, and when so issued the same shall be pooled to prevent 1t being placed on the market and interfering with the COmpany's interests and progress This pool can be broken only after the first Ten per cent u0E) dividend has been paid to the holders Of all issued preferred treasury Stock of the Com paDy. from the gross net profits heretofore , tied.
 Every share of preferred and common Stock when issued shall be fully paid up, and ever afterwards be non-assessabIe.
 ARTICLE V. The duration of this Corporation shall be Twenty-Five years from the date of the Certi- ficate of Incorporation issued by the Corpora ton Commission of the State of Arizona, with the privilege of renewal, on the termination of said period as provided by law.
 ARTICLE VI The affairs and business of this Corporation shall be conducted and managed by Board of Directors consisting oi not less than three nor i, more than seven who shall be bona.fide Stock holders of same while serving or acting as Directors The Directors shall hold office for the term of one year or until their successors , are elected and qualify The Officers of this Corporation shall be q President, Treasurer and Secretary with such others as the Board p of Directors may see fit to elect or appoint after organization. Each and all Officers shall !. be elected or appointed by the Board of D rec tors within ten days after the said Directors are elected by the Stockholders, and either or 6 all of said Officers may be elected or appointed from the members of said Board of Directors The annual meeting of the Stockholders shall ' each year at 10 O'clock A. NJ. at the Office oi . the Company at Nogales, Arizona, at which Meeting Board of Directors shall be elected : for the ensding year Until the first Annual Meeting of the Stockholders hereunder, and until their successors shall be elected and s qualified, the following named persons art
 the officers and constitute the Board of Direc I' tors for said Corporation; Otto Nlem1, Presl " dent and Director, Otto H. HerOld Treasurer , and Director, Benjamin Evans, Secretary an6 ,t Director In the event of any vacancy occurring
 fin any Office in this Corporation or on thC
 Board of Directors, said Board shall have = power to fill said vacancies by appointment fol
 the unexpired term, or until their successor
 are duly elected and qualified The Directors
 
 month, at 10 O'Clock A M of said day. A
 each meeting of the Stockholders every stock
 holder shall be entitled to vote in person O
 by proxy appointed in writing, subscribed b! s. such Stockhoder or his duly authorized Attor d ney and filed with the Secretary; and ever L' Stockholder shall have one vote for each shar of of Stock standing registered in his name at tn ;a time of closing the transfer books for gai, ,i' meeting. The votes for Directors, and upol m mno demand of any Stockhoder, the vote upon an, te question before the meeting shall be by ballot lg ARTICLE VII. oi The highest amount of indebtedness O ld liability, direct or contingent, to which thi of Corporation is at any time to subject itsel
 must i'll no case exceed Five Hundred Thou
 sand Dollars, ($5OO.O00).
 be ARTICLE VIII. VI The private property of the Stockholders
 this Corporation shall not be liable for an
 debt oi said Corporation, and their privat oi property shall forever be exempt from Co IT. porate debts
 y, IN WITNESS WHEREOF, we have hereunt
 set our hands and seals this thirty.flrst da
 Of Optnhar A ID, 1Ql0