Arizona republican., 1912-02-09

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 ulative preferential dividend Tt the
 rate of eight IS) per cent per amnum
 on the par value thereof, to be com puted from the date of issue thereof. II in any year dividends amounting to eight (S 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.
 l THIRD: After the payment of said
 cumulative dividend at the rate Of ! eight CS) Trr cent per annum to the
 holders of che preferred stock. cumu lative dividends at the rate Of eight ! (S) per cent per annum on the par
 value thereof may be distributed and ! paid to the holders of the general or , common stock. as and when the board 0: directors shall in their discretion | determine
 FORTH: After the payment: of said 1 cumulative dividcIl 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- lsued stock, preferred and common, share and share alike.
 FIFTH: m the event of the liqUi- dation or dissoultion of the corpora
 ton, the surplus assets and funds thereof shall be applied in the first place to rcpaying the holders of the .a'oresaiJ issued cumulative preferred istock the full amount of the principal and par value thereof and the ac- iCrued 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 lCumulative preferred shares. the sur plus assets and funds shall belong to and he divided among the holders of all the common. of general slarcs of stock of said corporation.
 ARTICLE ".
 The time of the commencement of 1 this corporation shall be tho date Of | the filing of thes, articles Of iEcorpo-- ation in the office of the county re- corder Of NaricVpa county. Arizona. and certified copy thereof ;n the of- ice 'fI Ill' diltltttF RI -AllLpItr, HIlu L4l' termination thereof shall be twenty five years thereafter. but the same | may he renewed and eXtclNed for like periods pcrpetually.
 ARTICLE V.
 ! The affairs of this corporation shall
 be conducted by il board of directors
 and such officers as said board may elect and appoint. The board of direc- | tors shall consist of not less than three (3) nor more than nine CD di- rcctors. each of whom shall be a stock
 folder. Any director ceasing tn be q lstockhokler thercupon Immediately ceases to be a director The number | of directors shall De 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 th" manner provided in the bylaws or as may be determined at such meetings.
 Until otherwise determined tho number of directors shall be three @ 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 i of the powers of the board of directors
 conferred 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, CUT; tO have 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 fiN the time for I1eclaring and paying dividends: to au- thorizc and cause to be executed notes. ! warrants, and payment of dividends; | to authorize notes, bon1s, debentures, |, stipulations, certificates, stock cer- tificates. anI agreements. mortgages. ! deeds, and deeds of trust, liens. con veyances. assignments, contracts, | powers of attorney. appointments. re- cogniZanceS, verifications, acknOwl- | Judgments, justifications, affidavits. | and any and all other kinds of ap- ! pOintments of agents. attorneys and IcmplOyes, and any and all other kinds | of instruments in writing whatsoever; ! and to sell. assign, transfer. grant, 1 convey. distribute, deliver, or other 1 wise dispose of any or all of the prop | crty real or personal of the corpora 1 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; l and when so authorized, the same i shall be and become the act and deed i of this corporation; to elect inc off | cers and employees and appoint all necessary agents. attorneys, servants. | employees and Iaborers of every kind for said corporation and to fil and de- l tcrmine. demand, collect and receive | payment for all services rendered by l the corporation for others and the pur- !