Arizona republican., 1912-02-12

tS2OO,OOVDV) dollars, are TO be common
stock
The rights, privileges and conditions
following shall be attached to the re-
spective classes of shares OF stock
aforesaid, that is to say:
FIRST: The preferred stock and
the holders thereof shall have no vot-
ing power or privilege. but TIE COM
mon stock AMI the holders thereof
shall have all the voting power AMI
privilege.
SECOND: All Of the said preferred
shares issued shall carry a fixed cum
ulative preferential dividend at the
rate Of eight 90 per cent per annum
on the par value thereof, 10 be COM
puted from tine date of issue thereof.
II in any year dividends amounting to
eight 90 per cent per annum shall not
be paid on said preferred stock. the
deficiency shall be a charge on the net
profits Of the corporation and be pay
liable. but without interest, before any
dividends shall be paid or set apart
for the common stock.
/ THIRD: After the payment of said
cumulative dividend at the rate of
eight 90 per cent per annum to the
holders of The preferred stock, cumu-
lative dividends at the rate Of eight
90 per cent per annum on the par
value thereof may be distributed and
paid To the holders of the general or
common stock. as and when the board
&: directors shall IN their discretion
determine.
! FORTH: After the paymen. of said
cumulative dividend at the rate Of
eight % per cent per annum To the
holders of said common stock. ali of
the dividends and net profits applied
10 the payment of dividends. shall be-
long TO and be payable 10 all the is
seed stock, preferred and common.
share and share alike.
| FIFTH: in the event Of the liqui-
dation or dissolution Of the corpora
ton. the surplus assets and funds
thereof shall be applied in the first
place 10 repaying the holders of the
aforesaid issued cumulative preferred
stock the fun amount Of the principal
and par value thereof and the ac-
orued dividends. if any charged. before
any amount shall be paid upon the
common stock, and after such pay
ment in fun to the holders of said
cumulative preferred shares, the sur
plus assets and funds shall belong to
ana b. divided among the holders of
all the common Of general shares Of
stock of said corporation.
ARTICLE ".
! The time Of the commencement OF
this corporation shall De the date of
the filing of these articles Of incorpor-
alton in the office Of the county re-
corder Of Maricopa county. Arizona
/ and a certified copy thereof in the Of
| fice of the auditor Of Arizona. and the
| termination thereof shall be twenty
I five years thereafter. but the same
may be renewed and extended for like
periods perpetually.
ARTICLE V.
| The affairs of this corporation shall
be conducted by a board of directors
and such officers as said board may
elect and appoint The board of jirec-
tors shall consist of not less than
three go nor more than nine 90 di-
rectors. each Of whom shall be 4 stock
FOLDER. Any director ccasing to he a
stakeholder thereupOn immediately
ceases TO be a director. The number
of directors shall b. determined by
the stockholders holding the common
stock, and shall be elected from among
the stockholders by the stockholders
holding the common stock at the an
nual meeting of stockholders. which
shall be held on the second Monday in
January of each year, in the manner
4 In H.. nv Ia no
dc termineI at such meetings.
Until otherwise determined the
number of directors shall be three 60
ard until their successors shall be
elected. the following persons shall be
directors: J. L. Olson. 4. W. Galpin.
ard Charles Bowman.
In furtherance and not in limitation
of the powers of the board of directors
conferred by law the said board is
hereby expressly authorized and en-
powered to. by election or appoint
ment as the case may require, fill all
vacancies that may occur either in the
board of directors or any office or
officer of the corporation for the I'M
expired term of such director or off,
Ger: to have one or more offices and
and hold the meetings of the corpora
ton and perform all corporate acts at
such places as said board may deter
mine and direct; To fix the time for
declaring and paying dividends: to au-
thorize and cause TO be executed notes.
warrants. and payment Of dividends:
to authorize notes. bonds. debentures.
stipulatiOns, certificates, stock GER
tificates, AMI agreements. mortgages,
deeds, and deeds of trust, liens. con-
veyances, assignments. contracts,
powers of attorney. appointments, re-
cognizances, Notifications, acknowl- |
Judgments, Qualifications, affidavits.
and any ana all other kinds of APP
pointments OF agents, attorneys and
employees. AMI any and all other kinds f,
of instruments in writing whatsoever; !
and to sell, assign, transfer, grant, !
convey. distribute, deliver. or other /
wise dispose of any or all of the prop
crty real or personal of the corpora
ton and to acquire in any manner
whatsoever any and all kinds CT prop
erty that said board may deem proper