Arizona republican., 1915-01-15

may be Ht'tSSdIN 10 ttlTN out tIlt pul-
pose Of said corporation.
"
The amount of the capital stock of
said corporation shall be one hundred
thousand dollars (S100, 000), divided
into one hundred thousand shares of
the par value of one dollar ($1.00) each,
of which ninety thousand (30000)
shares shall be preferred stock and ten
thousand 100000 shares shall be com
mon Stocn; and said stock shall be is
sued fully paid and non assessabe at
such time or times as the board of di-
rectors may from time to time desig-
nate in exchange for cash, proper ser
vices or other valuable rights or things,
and the judgment of the board of di
rectOrs as to the value thereof shall be
conclusive The relative rights of the
two classes of stock shall he as follows:
ca owners of preferred stock shall
have no voice in the mana cement of
the corpora ton. owners Of common
stock shall be entitled to participate in
all stock holders meetings and to cast
one vote for each share of common
stock owned.
OBJ owners OF preferred stock shall
receive in January of each year a spe-
cial dividend of seven per centum or
such less amount as the net profits of
the preceding calendar year will pay
but such special dividends shall be nom
cumulative.
! (c) All net profits in excess of the
special dividends upon the preferred
stock as above provided shall be the
! property Of the corporation and may be
carried as a surplus or distributed from
time to time in the way of general
/ dividends and all general dividends
declared by the Board of Directors shall
i be distributed onehalf thereof to the
preferred stock holders and the re-
manning Onc-half to the holders OF
common stock.
| VI.
The time of the commencement of
! this corporation shall be the date these
articles arc filed in the office of the
corporation commission in the State of
Arizona, and the termination thereof
shall pc twenty-five wears thereafter
: VII.
The affairs of this cooperation shall
he conducted by Board of Directors
which shall consist of such number
not less than three, as may be provided
! from time to time by the Bylaws OF
! the corporation. and said directors
shall be elected at the annual meeting
of stock holders which shall be held on
Ia .l,,,r g -,
year; and until other directors are
! elected by the stock holders Lloyd +
Sturges. George Roslington and j. w
! Hesselden shall be the directors.
| The highest amount of indebtedness
or liability direct or contingent to which
this corporation shall at any time sub
ject itself shall be sixty-siX thousand
dollars (sG6,G00)
IN
The private property of the stock
holders shall be exempt from all cor
pOrate debts.
IN WITNESS WHEREOF we have
hcreunto set our hands this 9th day Of
January, A. D., 1915.
| (SIGNED)
Lloyd +. Sturses,
George Roslngton
J. w Hesselden.
STATE OF NEW MEXICO
COUNTY or BERNALILLO-ss
On this 9th day of January 1915. be
fore me- a notary public within and fo
said county appeared George ROslins
ton and Lloyd T. Sturges, to me know
to be the persons described in and Wh'
executed the foregoing instrument. al,
acknowledged to me hat they execute,
the same as their free act and deed anC
for the purpose and consideration there
in expressed.
IN WITNESS WHEREOF | hav
hercunto set my hand and notarial sea
the DAY and year last above written.
GEORGE PARTRIDGE. Notary Publ
My commission expires Sept 30, 1871
STATE OF NEW MEXICO
. COUNTY OF MORA-ss
on this 18th day of January, 1915 be
fore me a notary public within and 70
| said county. appeared J. W. Hcsselder
, to me known to be the person des
cribed in and who executed the fore
going instrument and acknowledged t.
me that he executed the same as hi
; free act and deed. for the purpose an
) consideration therein expressed.
IN WITNESS WHEREOF | hav
hereunto set my hand and notarial sea
the day and year last-above written.
| CHARLES r. KEYES. Notary Publ
My commission expires October 1T
: 1917.