Arizona republican., 1913-10-24

own and operate street railways and steam railways to be propelled by electricity, steam, gaSOlene, or any power that may be advantageous; to conduct maintain, operate and effec- tuate gasoIene motor driven vehicles
 of every kind that the purpose of the aforesaid railways and vehicles shall be for the carriage of passengers, freight and any and all kinds Of [ general transportation within or with out the city of Phoenix, and within the state of Arizona, or outside of the state of Arizona, as the board of directors may deem to the interest of
 this corperation; to own, maintain and operate telegraph and telephone
 lines in connection with the said
 above mentioned business or inde- pendently of the above mentioned
 business to acquire, own and hold franchises, privileges and concessions of all kinds and to receive for the services which this corporation may
 render, proper compensation therefor;
 to buy, sell, own, mortgage, hypOthe- cate and deal in real estate and per
 sOnaI property O. every kind and na- ture; to borrow and lend money and
 to give and take securities, mortgages,
 trust deeds, debentures etc; to buy,
 sell. own and operate ice plants, hold
 and sell the product thereof, and to acquire such plants and the ma
 chinery for the operation thereof; to
 own, operate, construct and build gas
 and electric plants for the purpose
 of sale and distribution to customers of the products of such plants; to acquire franchises, privileges and con-
 sessions for the operation of said plants; to own, hold, buy and sell
 patent rights and letters patent, and in general, to do any and all things necessary to the proper conduct of the business of this corporation not inconsistent with the laws of the United States, the state of Arizona
 or any state in which this corpora
 tion may do business.
 3. The authorized capital stock of this corporation shall be One Million C$1, 900, ,OOO.00) Dollars, divided into
 Two Hundred Thousand (200,000)
 Shares of the par value of Five ($5.OO) Dollars per share; that of the
 aforesaid 100000 shares of stock of this corporation, 15O,O0O shares shall be preferred stock afd 5O,OO0 shares shall be common stock. The pre- ferred stock of this corporation shall be entitled to receive guaranteed div idends of six per cent out of the net earnings of this corporation, payable quarterly, semi annually or yearly in such amounts as the board of di-
 rectOrs may direct. It is further pro vided that the preferred stockholders shall not participate or have any voice in the policy or control of this corporation, neither shall such stock holders be allowed to vote at any stockholders meeting, but shall all ways be entitled to the dividends above set forth as stated, and the preferred stock is subject to redemp- ton at par at any time that the board of directors may see proper to redeem the same.
 The voting power and the policy and conduct of the affairs of this corporation shall forever be vested in the common stock. The board of di- rectorS may cause said capital stock l Or any part thereof to be subscribed l or paid for in cash, in the purchase personal property or for services rem dered, and to issue or cause to be issued any part or all of the capital stock as required at any time or from time to time. and when so is sued said stock shall be fully paid and -assessable, and in the ab- sence of fraud, the judgment of the board of directors as to the value of