Arizona republican., 1912-03-11

million six hundred thousand Q,6OO,- 5C1) shares amounting at par to E,sht Hundred Thousand (SSOO.oOO.OO) Dollars are to be common stock and said common stock shall be divided into four groups of four hundred thousand (4a0, ,0OO) shares each, and shall be deeignated and known respectively as "S.ries B. Series C." Series b" ana Series E."
 The rights, privileges and condi- tioas following shall be attached to the, respective classes. groups and ser.es of shares of stock aforesaid, that is to say: the said Preferred Stock of Series A" and the holders theleof shall have no voting power and privileges. but the Common Stock of .'Series E" and the holders there of shall have all the voting power and. privilege until otherwise deter mir;rd as hereinafter provided.
 A.l of the said Preferred shares issl:ed shall be entitled to a fixed consultative preferential dividend at the. rate of eight (S per cenD per cenb per annum on the par value thereof. to be computed from the d;te of issue thereof. If in any year dividends amounting to eight tS per cenD per cent per annum shall not be paid on the said issued Preferred Sto.k, the deficiency shall be a charge against the net profits of the cor poration. and be payable. but with out interest. before any dividends shall be paid or set apart for the Common Stock. The said Preferred Stock shall not be entitled to any other profits of the corporation in excess of the said eight (S per cenD per cent per annum.
 After the payment of said cumu- lative dividend at the rate of eight CS per cenO per cent per annum upon said Preferred Stock, all other profits and surplus funds of the cor poration shall belong to and may be paid as dividends upon the issued Common Stock. share and share alike. In event of the liquidation or dissO- utiOn of the corporation. the surplus assets and funds thereof shall be ap- piled in the first place to repaYing to the holders of the aforesaid issued preferred stock, the full amount of the par value thereof and accrued dividends if any, charged and un- paid. before any amount shall be paid upon the Common Stock: and said Preferred Stock shall have no further right, title or interest in and to the assets and funds of said cor poratiOn or any part thereof. After such payment in full to the holders of said Cumulative Preferred Stock the surplus assets and funds of the corporation shall belong to and be di- vidcd among the holders of all the Common or general shares of said stock then issued. of all or any of the series in proportion to the num- Der of shares held by each stock holder
 This corporation. at any time after suancc of any of the said Preferred Stock. shall have the right. at its option. to call in. cancel and return the whole or any portion of the said Preferred Stock by paying therefor sixty ($0G0) cents per share and ac- crucd and unpaid dividends thereon. if any charged.
 ARTICLE V.
 The affairs of this corporation shall be conducted by Board of Directors and such officers as said Board may elect and appoint. The Board of Directors shall consist of not less than three (3) nor more than nine (9) directors. each of whom shall be a stOcllholdcr. Any director Ccasing to be a stockholdcr, theTeupon inn mediately ceases to be a director The number of directors shall be de termined by the stockholders holding the voting Common Stock. and shall be elected from among the stock holders by the stockholders holding the said voting Common Stock at the annual meeting of stockholders which shall be held on the second Monday in January or each year in the manner provided in the By laws or as may be determined at such meetings
 ARTICLE VIII.
 The right is hereby reserved to the voting Common Stock and the holders thereof to amend these Ar ticlcs of Incorporation by d ma iority vote of said voting Common Stock . at any legally held stockholders and it is expressly provided !! and agreed that in the event the l capital stock of this corporation shall l hereafter be increased, any part of | said increased capital stock may he | created, designated and made Cumu i lative Preferred Stock to the same ! extent as the Preferred Stock men, toned in Article III. hereof.
 IN WITNESS WHEREOF. this | instrument is executed by the presi- dent and secretary of said corporation l and it's seal hereto affixed, this the l Fifth day of March, X. D 1912. ARIZONA HOME BUILDING co. |
 By CHARLES BOWMAN
 President
 Attest
 J. l.. OLSEN,
 Secretary.
 .3.N,