Arizona republican., 1912-02-20

'Aa AAAt AANi NsAN VI -Ni'A tAs 4'4A AA'i' at the office of the corporation on the 10th day Of FcbrIary, 1912, at which all of the issued stock of the corporation entitled to vote was re- presented, a resolution was duly pass cd and adopted by the unanimous vote of all of the said stock, chang ing and amending the Articles of h. corporation Of said corporation. $o that Article III and Article VI oc said Articles of Incorporation shall read as follows:
 ARTICLE III
 The amount Of the capital stock authorized of this corporation shall Le One Million. Five Hundred Thous- and ($1.50o.00O Dollars. which shall be divided into fifteen thousand GJ.0v0) shares of the par value of one Hundred (SI00.00) Dollars each: and the same shall be fully paid in when issued. either in cash or by the sale and transfer 10 the corporation of real or personal property, or bv services rendered. in payment for which shares or the capital stock of this corporation may be issued. and the judgment Of the Board of Direct ffiN sAS bl Allc NAlht VI HltlI lll V. services or rights so acquired shall be conclusive; and all Of said stock when so issued shall be fully paid and forever non -aSsessable. Said capital stock shall he paid in and shall he issued al such times and upon such conditions as the Board Of Directors shall determine and direct.
 or said capital stock, thirteen thousand G3.Oo0) shares, amounting aI bar to One Million Three Hundred Thousand (S1. 300, ,000,06) Dollars shall Aa preferred stock, and two thousand 62000) shares amounting at par tO Two Hundred Thousand t$2)0.00O.00) Dollars. shall be common stock.
 The rights privileges and conli- lions following. shall be attached n 1he respective classes of shares of stock aforesaid. that is 10 say:
 FIRST: The preferred stock, and the holders thereof. shall have no voting power or privilege, hut Jhe common stock and the holders there oI. shall have all the voting power and privilege.
 SECOND: Three Thousand (3,OO0) shares of said preferred shares 70 issued shall carry fixed cumulative preferential dividend at the rate of eight t0 per cent per annum on the par value thereof, tO be computed from the date of issue thereof. II in any year dividends amounting tO eight Cs) per cent per ahnum shall not be paid on said preferred stock. the deficiency shall be a charge against the net profits or 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 GO,O0O shares ,f said preferred shares SD issued shall carry fixed cumulative preferential dividend at the rate of six (6) per cent per annIm on the par value - q ereOf. to be computed fIOm the date Of issue thereof. IT any year dividends amounting to six GO per cent per annum shall not he paid on said preferred stock, the deficiency shall be a charge on the net profits of tine 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 10 either the said eight (D per cent or tht said six C6) per cent. the one over the other, but each snare of said preferred stock. whether en- titled to eight (SD per cent or six co per cent dividend, shall be entitled to participate in the profits applied to dividends pro rata ro the extent of the rate of dividend attached to the respective shares.
 THIRD: After the payment of said cumulative dividends. at the rates de- ferred stock. cumulative dividends at the rate Of six (6) per cent per an nlm on the par value thereof, may be distributed and paid 10 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 c: six 60 per cent per annum 10 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 its op ton, shall have the right to call i9, redeem. cancel and retire any part of the said preferred stock, bearing the eight (S) per cent cumulative di vidend. at any time after three years from the date Of it's 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 t0 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 eN- cee,lng the par value of said stock, and acculed dividends.
 ARTICLE VT.
 The highest amount of indebtedness to which this corporation is at any time 10 subject itself. or to be sub ject at any one time. shall not eX- ceed the stun of Five Hundred ThOus- and CS5O0.0 .000.O0) Dollars. exclusive Of property. deposits and funds received in any fiduCiary rapacirN