Arizona republican., 1912-02-19

on the 1Ith day of April. 1911, held at the office of the corporation on the 10th day of February, 1912, at which all of the issued stock of the corporation entitled to vote was re- presented, resolution was duly pass ed and adopted by the unanimous vote of all of the said stock, chang ing and amending the Articles of h. 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 Lc One Million. Five Hundred Thous- and (SI.500,Oo0) Dollars, which shall be divided into fifteen thousand GJ.000) shares of the par value of One Hundred ($lo0.00) Dollars each: and the same shall bc fully paid in when issued. either in cash or by the sale and transfer tu tGc corporation of real or personal property, pr by services rendered. in payment for which shares of the capital stocl, of this corporation may be issued. and
 
 ors as to the value of such property. services or rights so acquired shall be conclusive: and all Of said stock when 50 issued shall be fully paid and forever n-aSScsSablc 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 Q3,0o0) shares. amounting at par to one Million Three Hundred Thousand tSl.300, ,000.0O Dollars shall he preferred stock. and two thousand C3.GOO) shares amounting at par to| Two Hundred Thousand (s2OO. .0OO,0 Dollars, shall be common stock.
 The rights privileges and cundi- 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 mol voting power or privilege. hut the common stock and the holders there of. shall have all the voting power and privilege.
 SECOND: Three Thousand (3oOO) shares of said preferred shares sol issued shall carry q 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 tol eight (S per cent per annum shall not be paid on said preferred stock, the deficiency shall be charge against the net profits of the corpora tion. and be payable. but without in- terest, before any dividends shall be paid or set apart for the common stock.
 Ten Thousand U0,00W shares fl said preferred shares 50 issued shall carry d fixed cumulative preferential dividend at the rate of six (6) perl cent per annIm on the par value q ereOc, to be computed from the date of issue thereof. If any year dividends amounting to six CG) per cent per annum shall not be paid on said preferred stock, the deficiency shall be d charge on the net profits of the corporation and be payable. but without interest. before any dividends shall be paid or set apart for thc 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 (SD per cent or tht said six co per cent, 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 tu dividends pro rata to the extent Of the rate of dividend attached tOl the respective shares
 THIRD: After the payment of said cumulative dividends, at the rates de- Signated. to the holders of the pre- ferred stock. cumulative dividends at the rate of six co per cent per an nlm on the par value thereof, may 1 bU 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 1 ct six (6) per cent per annum to tine | holders of said common stock and at the | rates specified for said preferred stock 1 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- ton, shall have the right to call ia, redeem, cancel and retire any part of the said preferred stock, bearing the eight () per cent cumulative di- yidend, 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 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- ceeding the par value of said stock. and accnled dividends
 ARTICLE VI.
 The highest amount of indebtedness to which this corporation is at any time to subject itself. or to be sub iect at any one time. shall not eX- ceed the stun of Five Hundred Thous- and G5OO, O,OO0.OO) Dollars. exclusive of property. deposits and funds received in any fiduciary capacity.
 IN WITNESS WHEREOF. this in-