Arizona republican., 1916-12-09


 Arizona Corporation Commission, by its Chairman. has hereunto set its hand and affixed it's Official Seal. Done at the City of Phoenix, the Cap itol this 1st day of December A. D. 1916.
 ARIZONA CORPORATION COMMIS- SION
 r. A. Jones, Chairman. Attest:
 Amos A. Retts, Secretary.
 KNOW ALL MEN BY THESE PRESENTS, that we, the undersigned, having associated ourselves for the purpose of forming a corporation under the laws of Arizona. do hereby adopt the following articles of incorpora- ton:
 ARTICLE L The incorporators are: Robert K. Daniels, whose post office address is Washington. D. C.; David & Rose, whose post office address is Washington, D. C.; and P B. Murphy, whose post office address is Washing ton, D. C., and the name of the cor poration shall be CHINESE AMERI- CAN NAVIGATION COMPANY. Its principal place of business within Ari- zona will be at Phoenix Maricopa County, Arizona, but other offices may be established and maintained within or outside of Arizona at such places as the Board of Directors may designate where meetings of stockholders and the Board of directors may be held and any and all corporate business tram sacted.
 ARTICLE H. The general nature of the business proposed to be transacted is as follows, to wit: To construct, lease charter, purchase or sell, and to operate sailing vessels. steamships steamboats, motor ships. tug boats, tenders. barges, launches. and all other description of water craft on the high seas and all the oceans of the earth, in- cluding all passages between oceans and seas whether provided by nature Jr constructed by man; to use and operate such water craft thereon aux Hilary to any of the objects or purposes or this corporation, or for the carriage of freight and passengers for hire, operating direct or under lease or charter to other persons, corporations or communities, and to that end to ex- ercise all the rights and privileges and 10 be subject to all liabilities of a com mon carrier; and to lease, purchase, build. own. erect. acquire. operate and use any and all docks. wharves. ware houses, and everything whatsoever necessary. proper or convenient to the carrying on of the said business and to do any and all things usually belonging or incident to the carrying on of the transportation business by water craft of all kinds
 To own and control letters patent and inventions, and shares, of it's own capi- tai stock and that of other corporations. and to vote any shares of stock of other corporations owned by 1t the same as any person might do: to bor- row money and to issue bonds notes. debentures, mortgages. and other evil dences of indebtedness and secure pay ment of the same by deeds of trust, or otherwise. as may be convenient or proper. and in general to do and per- form such acts and things. and tran sact such business in connection with the foregoing business not inconsistent with law in any part of the world. as the Board of Directors may deem to be to the advantage of the corporation.
 ARTICLE III. The amount of the capital stock. authorized, of this cor poration Is ten millions dollars. gold. tSl0,000, 100000. divided into one hun dred thousand Q0OOOO) shares of the par value of one hundred dollars (SlO0.O0). each. and the said author ized capital stock is hereby classified ana Is divided into two classes, as fol- lows:
 Five millions dollars. N5,0OO. GOO .OOl Of said authorized capital stock. divided into fifty thousand (5O,0OO) shares of the par value of one hundred dollars. fSlOO.0O). shall be the Preferred Stock. and shall constitute one class and shall enjoy and be entitled to the preferences but be at all times subject to the terms and conditions hereinafter expressed; and
 Five millions dollars (s5. .O00. 900. .00), of said authorized capital stock, di- vided into fifty thousand (50.0O0) shares, of the par value of one hundred dollars, Sl00.00). each. shall be com mon stock. and shall constitute the second class.
 All of the aforesaid preferred Stock shall enjoy and be entitled to the fol- lowing preferences:
 l. To have, receive and be paid (out of the profits of the business of said corporation properly and legally ap- plicable to the payment of dividends) ] annual dividends of seven per centum CIT) upon the par value of all such preferred stock outstanding for the time being.
 2 To have all unpaid annual divi- oends accumulate until paid. The common stock shall not be entitled to be paid any dividend in and for any year until all earned dividends upon said Preferred Stock shall have been paid; but. after payment of the divi- dend upon the Preferred Stock, and all accumulations up to any time, the balance of the profits then remaining may be paid as dividend to all com, mon stock then outstanding, for the time being. or such balance may be applied and carried to surplus.
 3. In case said corporation shall he come insolvent or bankrupt or for any reason, shall go into the hands of re- ceiver, so that it's assets shall be legally. marshalled and distributed. the said preferred Stock outstanding for inc time being, shall (before the common stock shall receive or be entitled to re- ceive anything from said assets). be entitled to be paid in full from said assets, if said assets shall be suf- ncient therefor, when and after which the balance of said assets shall be dis tributed to said common stock, ratably: and If said assets properly applicable thereto. shall not be sufficient to pay sald outstanding Preferred Stock. in full, the same shall be paid to and ap- piled upon said Preferred Stock then outstanding. ratably.
 I. To issue, sell and dispose of said Preferred Stock, as an entirety or. if the board of Directors shall so decide, to divide the same into Series, and desig- nate them by consecutive numbers, of sucn amounts. respectively. and with conditions, terms. and provisions to be iixed by the Bylaws. or by resolutions or the Board of Directors, or in such other manner as the Board of Direct