Arizona republican., 1912-03-13

KNOW ALL MEN BY THESE i PRESENTS: That at a regular meet ing of the Stockholders of the Ariz- Cna Home Building Company, cor poration organized under the laws Of the Territory of Arizona. held at the office of the corporation on the 2nd day of March, <. D. 1912, at which all of the issued stock of the corporation wes represented. reso- lution was duly passed and adopted by the unanimous vote of all of the said stock. changing and amending the Articles of Incorporation of said corporation. so that Article |, Ar ticle III. the first paragraph con- sisting of the first twelve lines of Article V. and all of Article VIII. Of said Articles of Incorporation. shall read as follows:
 ARTICLE l.
 The names of the Gn) corpOrators are J l.. olsen, A. w. Galpin and Charles Bowman. and the name of the corporation shall be and is:
 ARIZONA BUILDING X INVEST
 MENT co.
 and it's principal place of transacting business and its principal office shall be in the City Of Phoenix. Maricopa County, Arizona, but said corporation may establish and maintain offices and transact any and all kinds of lawful business at any place or places within or without Arizona as may be determined by the Board of Directors. at any of which offices or places the Board of Directors and Stockholders may hold meetings and transact business, and the books. re- cords and seal of the corporation may be kept.
 ARTICLE III.
 The amount of the Capital Stock authorized of this corporatioon shall be One Million Gl,0O0.O .O00.O0) Dollars, which shall be divided into two mill lion (2.000.OO0) shares of the par value of fifty cents ($050) each, and the same shah be fully paid in when issued either in cash or by the sale and transfer to the corporation of real or personal property or by ser vices rendered, in payment for which shares of the capital stock of this
 
 judgment of the Board of Directors as to the value of such property. services or rights so acquired shall be conclusive: and all of said stock when so issued shall he fully paid and forever nOn-assessable. Said capital stock shall be paid in and shall be issued at such times and up- on such conditions as the Board of Directors shall determine and direct
 Of said capital stock four hundred thousand (4O0,0OO) shares amounting at par to Two Hundred Thousand ($2O0. .000.00) Dollars are to he pre- ferred stock, and shall be designated and known as Series A" and one million six hundred thousand Q,600, 0O0) shares amounting at par to Eight Hundred Thousand ($S00. .000.00) Dollars are to be common stock and said common stock shall be divided. into four groups of four hundred thousand C4O0,OO0) shares each, and shall be designated and known respectively as Series B. Series C." Series D. and Series E."
 
 tions following shall be attached to the respective classes. groups and series of shares of stock aforesaid. that is to say; the said Preferred Stock of Series A and the holders thereof 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 mined as hereinafter provided.
 All of the said Preferred shares issued shall be entitled to a fixed cumulative preferential dividend at the rate of eight tS per cenO per cent per annum on the par value thereof to be computed from the date of issue thereof If in any year dividends amounting to eight (S per cenO per cent per annum shall not be paid on the said issued Preferred Stock, the deficiency shall be q 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 ether 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 (S 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- lution 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 l