Arizona republican., 1913-02-08

preIerred shares and fifteen hundred I50O) shares amounting to one hundred and fifty thousand dollars S150,000.00) shah be common shares The holders of the outstanding pre- ferred shares shall be entitled to re- CelVe out of the net earnings of the corporation for any year available for dividend purposes, a dividend of elght per centum per annum of the par value of said preferred shares before any dividend is set apart or paid on the common shares. The holders of the common shares shall be entitled to receive out of the net earnings Of the corporation for any year available for dividend purposes. or of the said net earnings after the holders of the outstanding preferred shares have received a dividend of eight per centum for that year. In case of liquidation or dissolution of the Company. the net assets shall
 be devoted as follows:
 FIRST: To the payment of the par value of outstanding preferred shares in full. SECOND: At such time as the Board may by resolution direct, said capital stock shall be paid for either ing cash or by the sale and transfer to the corporation
 of real or personal property, services
 or any other right or thing of value | necessary or incidental to the ad- vancement of the purposes of the corporation and when so issued shall | become fully paid, the same as | though paid for in cash at par and | the absence of actual fraud. the | judgment of the directors as to the value of the property or services, shall be conclusive
 ARTICLE VI. At the time of the commencement l of this corporation shall be the date | of the issuing to it Of a certificate | of incorporation and shall endure for
 the full term of twenty five years | thereafter, with the privilege of per petual succession as provided by | law.
 ARTICLE VII. The affairs of the corporation 1 shall be conducted by a board of 1 five directors. divided into two | classes, in respect to the time for l which they can severally hold office, l and the manner of their election i; | one class. to be known~as the first l class. shall be composed of three | directors who shall be chosen ex-
 clusively by the holders of the com l mon shares and shall hold office for d period of two years and until l their successors are chosen and have qualified. The other class, to be known as the second class. shall be composed Of two directors who shall
 be chosen exclusively by the holders
 of the preferred shares and shall
 hold office for a period of one veal
 and until their successors have beer
 elected and qualified.
 | The annual meeting 0f the stock
 holders shall be held on the secone
 Saturday in January. 1914, and an
 nually thereafter as the bylaw:
 shall provide.
 The board of directors shall bs
 composed of the following persons
 towit:
 Name, J. C. II. Pringle: class
 first; residence. san Francisco. Calf Il ornia
 Name. Harry Rowland; class, sec
 ond; residence, San Fran ciSco, Calf | , ornia
 Name, C. H. House; class, second
 residence. San Francisco, California
 Name, D.. A. Hagens; class. first
 residence, San Francisco. California
 Name. Charles l.. BoutOn; class first; residence, San Francisco, Cal
 ifornia In case of vacancy at any tim in the number of directors caused by the resignation or otherwise, tn, ! vacancy shall be filled by the re maining member or members of tn,
 class of directors in which said va . cancy shall have occurred ARTICLE VIII The directors shall have the DOW
 CT to adopt. amend and rescind by laws. to fill vacancies occurring il
 the board from any cause as here inbefore provided.
 ARTICLE TX The highest amount of indebted ness or liabilities direct or contin
 gent, to which this corporation ma. at any time be subject, shall be on hundred thousand dollars (s10O,
 O0000), which amount does not ex l ceeu 1WO-InlFOS or the cdpltal StOch ARTICLE x. The capital stock of this corpora 7 ton shall be and is made foreve non -aSsessable by this corporation for any purpose whatsoever. ARTICLE XI !, The private property of the stock l holders of this corporation shall h /, forever exempt from the corporal 3 debts or liabilities of the corpora l tion, of any kind whatsoever. y IN WITNESS WHEREOF, w . have hereunto set our hands an Seals this First day of Februar | 1913.
 JOHN c. H. PRINGLE, GSeaD ] HARRY s. ROWLAND, (SeaD n c. II. HOUSE, (SeaD D D. A. HAGENS, (SeaD CHARLES l.. BOLTON, CSeaD |. State of California, City and COun ty of San Francisco. ss. On this the first day of Februar, 1913, before me Genevieve s. Doneii y a Notary Public in and for the Cit : and County of San Francisco, Stat of California, residing therein. dul s commissioned and sworn, personall Tal1 ~ Iy-txH xHsrto InNS