Arizona republican., 1912-02-11

accomplishment of any or all of the purposes or the attainment of the objects hereinbefore enumerated. or which at any time may be conducive or expedient or advisable for the be- nefit or protection of this corporation and in general to engage in any and all kinds of lawful business, and to make. perform and enforce any and all kinds of contracts whatsoever. and to do and perform any and all acts that q natural person might. could or would do or perform.
 Any or all of the things. objects and purposes herein enumerated and authorized to be done shall be done and performed at such time or times and at such place or places within or without Arizona and upon such terms and conditions and for such compensation and in such manner as the Board Of Directors shall. from time to time determine and direct. and not otherwise
 ARTICLE III.
 Tn amout of th. Capital Stock au- thoriz.d of thiS corporation shall be one Million tSl.0oo. .10) Dollars. which shall be divided into Ten Mil lion G6.000.00oJ shares of the par value of ten cents C1O cts.) each: and ;h" same shall be fully paid in when -S.;rd 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 If the capital stock of this corporation may be issued. and tn. judgement of the Board of Directors as tO the value of such property. ser vices or rights so acquired shall be conclusive; and all of said stock when so issued shall be fully paid and forever -assessable. Said capital stock shall be fully 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 eight million (s,0O0 .00O) shares. amounting at par to eight hundred thousand assoc. .OOO0O) dollars. are to be preferred stock and two million (2.0OO.OO0) shares, amount ing at par to two hundred thousand (s200.000 0O) dollars. are to be common stock
 The rights. privileges and conditions following shall be attached to the re- spectiye 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 the com mon stock and the holders thereof shall have all the voting power and privilege.
 SECOND: All of the said preferred shares issued shall carry fixed cum ulative preferential dividend at the rate or eight CO per cent per annum on the par value thereof. to be com puted from the date of issue thereof 1T in any year dividends amounting to eight Cs) per cent per annum shall no. be paid on said preferred stock. the deficiency shall be a charge on the net profits of the corporation and be pay able. 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 tS) per cent per annum to. the holders of -he preferred stock. cumu- lative dividends at the rate Of eight (S) per cent per annum on the par value thereof may be distributed and raid tO the holders of the general or common stock. as and when the board Q: directors shall in their discretion determine
 FORTH: After the paytnen. of said cumulative dividend at the rate of eight ,S) per cent per annum to the holders of said common stock. all of the dividends and net profits applied to the payment of dividends. shall be- long to and be payable to all the is- sued stock. preferred and common. share and share alike.
 FIFTH: m the event of the liqui- dation or dissolution of the corpora 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 the common stock, and after such pay ment in full to the holders of said cumulative preferred shares. the sur plus assets and funds shall belong to and 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 of the filing of these articles of iEcorpOr- corder of Maricopa 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 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 (3D nor more than nine (9) di- rectors. each of whom shall be a stock roldpr. Any director ceasing to be a thereupOn immediately ceases to be a director. The number of directors shall he determined byI he stockholders holding the common