Arizona republican., 1912-02-21


 ment of Annie l.. Wallin McNeil,
 deceased.
 Dated this Srd day of February, 1912.
 KNOW ALL MEN BY THESE PRESENTS, That at regular meet ing of the stockholders of the Ariz- ona Trust Company, a corporation or ganiZed under the laws of Arizona. on the 1lth day of April, 1911. held at the office of the corporation on the 10th day of FebnIary, 1912, at which all of the issued stock of the corporation entitled to vote was re- presented, a resolution was duly pass ed and adopted by the unanimous vote of all of the said stock. chang ing and amending the Articles of In corporation of said corporation. so. that Article III and Article VI Of said Articles of Incorporation shall read as follows:
 ARTICLE III
 The amount of the capital stock authorized of this corporation shall te One Million, Five Hundred Thous- and G1,500,000) Dollars, which shall be divided into fifteen thousand Q5,000) shares of the par value of One Hundred G1OO0O) Dollars each and the same shall 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 services rendered, in payment for which shares of the capital stock of this corporation may be issued. and the judgment of the Board of Direct ors as to the value of such property, services or rights so acquired shall be conclusive; and all of said stock when so issued shall be fully paid and forever -asscssable Said capital 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 O3,000) shares, amounting at par to One Million Three Hundred Thousand S1.300,000,O0) Dollars shall be preferred stock, and two thousand (2.O00) shares amounting at par to Two Hundred Thousand (s20000 ,00) Dollars, shall be common stock The rights privileges and condi tions following, shall be attached to the respective classes of shares of stock aforesaid. that is to say:
 FIRST: The preferred stock, and the holders thereof. shall have no voting power or privilege. hIt the common stock and the holders there of. shall have all the voting power and privilege.
 SECOND: Three Thousand (S,O0O) shares of said preferred shares 60 issued shall carry a fixed cumulative preferential dividend at the rate of eight (S) 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 cent per annum shall not be paid on said preferred stock, the deficiency shall be a charge | against the net profits of the corpora | ton, and be payable. but without in terest, before any dividends shall be paid or set apart for the common stock.
 Ten Thousand O0,OO0) shares If said preferred shares so issued shall carry a fixed cumulative preferential ! dividend at the rate of six (6) per cent per annIm on the par value | thereof, to be computed frCm the date of issue thereof If any year ! dividends amounting to six (6) 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 payable, but without interest, before any dividends shall be paid or set apart for the common stock.
 In the payment of the cumulative dividends upon the said preferred stock no privilege or preference shall attach to either the said eight (S) per cent or tht said six (6) per cent, 1 the one over the other, but each share of said preferred stock. whether en- titled to eight (S) per cent or six co per cent dividend, shall be entitled to participate in the profits applied | to dividends pro rata to the extent of the rate of dividend attached to the respective shares.
 THIRD: After the payment of said cumulative dividends. at the rates de- signated, to the holders of the pre- ! ItlICu SlOCh- the rate of six co per cent per an- mum on the par value thereof, may be distributed and paid to the hold CTS 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 of six co per cent per annuTn 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, pre- | ferred and common, share and share alike ! FIFTH: The corporation, at it's op- tiOn. shall have the right to cafl i7. redeem, cancel and retire any part i of the said preferred stock, bearing the eight (S) per cent cumulative di- vidend, at any time after three years from the date of its 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-
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