Arizona republican., 1912-03-10

HlllliOn SIX hundred thousand (I,bUU,- 000) shares amounting at par to Eight Hundred Thousand (sS00, ,0O0 00) Dollars are to be common stock and said common stock shall be divided into four groups of four hundred thousand (400,000) shares each, and shall be designated and known respectively as Series B. Series C." Series D. and Series E.
 The rights, privileges and condi tiOns following shall be attached to the respective classes, groups and series of shares of stock aforesaid, that is to say; the said Preferred Stock of Series A" and the holders thereof shall have no voting power and privileges, but the Common Stock of Series E" and the holders there of shall have all the voting power and privilege until otherwise deter mined as hereinafter provided.
 All of the said Preferred shares issued shall be entitled to a fixed cumulative preferential dividend at the rate of eight 8 per cenD per cent per annum on the par value thereof. to be computed from the d:te of issue thereof. If in any year dividends amounting tO eight (S per cenD per cent per annum shall not be paid on the said issued Preferred Stock. the deficiency shall be q charge against the net profits of the cor poration. and be payable, but with out interest. before any dividends I.l l. Cor ra Common Stock. The said Preferred Stock shall not be entitled 10 any other profits of the corporation in excess of the said eight (S per cent per cent per annum.
 After the payment of said cumu- lative dividend at the rate of eight tS per cen) per cent per annum upon said Preferred Stock. all other profits and surplus funds Of the cor poration shall belong to and may be paid as dividends upon the issued Common Stock, share and share alike. l In event of the liquidation or dissO- 1 ution of the corporation. the surplus assets and funds thereof shall be ap- | piled in the first place to repaying to the holders of the aforesaid issued preferred stock. the full amount of the par value thereof and accrued dividends if any. charged and un- paid. before any amount shall he paid upon the Common Stock; and said Preferred Stock shall have no further right. title or interest in and | to the assets and funds of said cor poration or any part thereof. After such payment in full to the holders | of said Cumulative Preferred Stock. the surplus assets and funds of the corporation shall belong to and be di- vided among the holders of all the Common or general shares of said stock then issued. of all or any of the series in proportion to the num- ber of shares held by each stock holder
 | This corporation. at any time after two years from the date Of the is suance of any of the said Preferred Stock. shall have the right. at it's option. to call in. cancel and return the whole or any portion of the said Preferred Stock by paying therefor sixty (sO.60) cents per share and ac- crued and unpaid dividends thereon. | if any charged.
 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 oi Directors shall consist of not less than three (3) nor more than nine 19) directors. each of whom shall be la stOckholder. Any director ceasin@ to be a stockhOlder, thereupon i'm mediately ceases to be director The number of directors shall he de termined by the stockholders holding the voting Common Stock. and shall be elected from among the stock holders by the stockholders holding the said voting Common Stock al the annual meeting of stockholders which shall be held on the second Monday in January ot each year in the manner provided in the By laws or as may be determined al such meetings
 ARTICLE VIII
 The right is hereby reserved to the voting Common Stock and the holders thereof to amend these Ar ticles of Incorporation by a majority vote of said voting Common Stock at any legally held stockholders meeting. and it is expressly provided iand agreed that in the event the capital stock of this corporation shall hereafter be increased. any part oi said increased capital stock may be created. designated and made Cumu lative Preferred stock to the same extent as the Preferred Stock men, toned in Article III. hereof.
 IN WITNESS WHEREOF, this | instrument is executed by the presi- dent and secretary of said corporation and it's seal hereto affixed. this the Fifth day of March, A. D. 1912. 1 ARIZONA HOME BUILDING co.
 By CHARLES BOWMAN
 President
 Attest
 J. l.. OLSEN.
 Secretary.
 State of Arizona. Maricopa County