Arizona republican., 1912-02-10

the dividends and net profits applied to the payment of dividends, shall be- long 10 and be payable to all the is- sued 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 to repayinG the holders of the aforesaid issued cumulative preferred stock the full amount of the principal and par value thereof and the ac- crued dividends. if any charged, before any amount shall be paid upon tn. common stock, and after such pay cumulative preferred shares. the sur plus assets and funds shall belong to ana be 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 be the date oi thr filling Of these articles of iEcorpor- atiOn in the office of the county re- corder of Maricora county Arizona and certified copy thereof in the of flee of the auditor of Arizona, and the termination thereof shall be twenty five years thereafter. but the same may be renewed and extended for like periods perDetually.
 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 (3) nor more than nine 60 di- rectors. each of whom shall be stock Folder Any director ceasing to be a stockhoker thereupon immediately ceases to be q director The number of directors shall be 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 provided in the bylaws or as may be determined at such meetings
 Until otherwise determined the number of directors shall be three CS) ard until their successors shall be elected. the following persons shall be directors: J. l.. olson, A. w Galpin. and Charles Bowman.
 In furtherance and not in limitation of the powers of the board of directors ccn.erTcd by law the said board is hereby expressly authorized and en- powered to. by election or appoint mcnt 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 un- expired term of such director or off cJr; tO hare one or more offices and to keep the books and records and seal 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, bonls, debentures, stipulatiOns. certificates. stock cer- tificates, and agreements. mortgages. deeds, and deeds of trust, liens, con- vcyances. assignments, contracts. powers of attorney. appointments. re- cognizances, verifications. acknowl- judgments, Qualifications, affidavits. and any and all other kinds of ap- pointments of agents, attorneys and employees, and any and all other kinds nf in ir, fr -hat 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 Of prop erty that said board may deem proper and advisable for said corporation; and when 50 authorized. the same shall be and become the act and deed of this corporations; to elect .he off cerS and employees and appoint all necessary agents, attorneys. servants. employees and laborers of every kind for said corporation and to fir and de termine, demand, collect and receive payment for all services rendered by the corporation for others and the pur- chase price of all property Of the cor poration sold and disposed of: to make, establish. alter, amend. repeal, or rescind all bylaws, rules, regula- tions and orders of the corporation.
 By resolution to appoint two or more of their number to constitute an ex- ecutive committee which committee shall for the time being. as provided Ly said resolution or in the bylaws, have and exercise all of the powers which may be lawfully delegated to it by said board and resolution in the management of the business and af- fairs of the corporation with power to authorize the seal of the corporation to be affixed to all papers or instru- ments requiring the same.
 Any vacancy occurring in the board of directors shall be filled for the un- expired term thereof by an election held by the remaining members of the board.
 The officers of this corporation shall be a president, one or more vice presidents. a secretary. one or more assistant secretaries, a treasurer, one or more assistant treasurers, a cashier. one or more assistant cashiers, an at