Bisbee daily review., 1917-05-23


 in cash or other property, or by the issue and delivery of the capital stock, bonds or other obligations of the Company, or of any other corpo- ration.
 (c) In so far as not inconsistent with the other provisions of this cer- tificate, to acquire from time to time, in exchange for the shares of the capital stock of the Company. as the same may at any time now or here after exist. such property or shares of the capital stock of any other cor poration or corporations as the board of directors shall deem of advantage to the Company. at such valuation as in the judgment of said board shall be fair and just.
 (d) To purchase. retire, redeem. hold. reissue, and otherwise dispose of the shares of stock bonds or other oblieations of the Company in such nnrounts and in such manner and upon such terms as the board of directors may deem expedient- except as herein otherwise expressly provided and in so far as may be permitted by law.
 (e) To acquire, purchase. hold. rse. sell. assien. lease, mortgage. or otherwise dispose of or turn 10 ac- count letters patent of the United States. or of any foreign country. in- ventions. patents patent rights. lie Anses and privileees. improvements. tradernarts and trade names. or pend- ing annlications therefor or connected herewith. covering in whole or in mart any and all articles manufactur- ed or dealt in bv the Companv. or re lating to or useful in connection with any business that may at any time he carried on by the Company.
 ff) To make. accent. endorse. ex- eGute and issue promissorv notes. hills of exchange. bonds. debentures and other obligations. from time to time. for the purchase of property or for any nurpose in or about the bus 'nnss of the Comnany. and to secure the pavment of any such obligation hv mortgase. pledge. deed of trust. Tor otherwise.
 (s) To do any or all the things herein set forth. and such other things as are incidental or condu- rive to the attainment of the above ohiects. to the same extent as nat ural persons might or could do. and in any part of the world in so far as the same are not inconsistent with the provisions of said Business Cor no-ntions Law"
 Tho rurnnses and nowers specified 'n anv clause contained in this Third Article shall. evcept where otherwise expressed in said Article. he in mo- wise limited or restricted nv refer ence to or inference from the terms of any other clause of this or any other Article of this certificate but the purnoses and powers snecifed in oach of the clauses of this Article ehall he regarded as independent pur- nosas and mowers.
 Nothing in this certificate contain ad shall however. authorize the Com nanv to conduct any business other than a mercantile or a manufactur- 'ng business.
 Fourfh-The amount of the total authorizAd csnita1 stock shall be s10.- nn0. divided into 100 shores of the ra- valre of s10o each. of which s5- 100 consisting of 50 shares of s100 oarh shall he seven per cent. cumu- Tative nrefnrred stock. and the re nnaining & nnn consisting of 30 shares of s100 each shall ha common stock The amount of capital with which the corroration will commence business is @ 100.
 Cal From time to time all said seven per cent cumulative preferred stock and all said common stock may ha issued in such amounts and for such nurnoses as shall he determined hv the hoard of directors and as may he permitted hv law.
 (hl The holders of the preferred stock shall he entitled to. receice. and the Company shall he obligated to nay. but only out of the surplus pro- fits of the Comnanv cumulated divi- dends at the rate of seven per cen tum ner annum. and no more. payable uuarter-vearlv on the first days of April, July. October and January in each year. the first quarter-yearlv dividend being payable on April 1. 1912. before any dividends shall be naid upon or set anart for the com mon stock The dividends on the preferred stock shall be cumulative from and after January 1. 1912.
 Gel The whole or any part of the preferred stock may be redeemed at any time. at the option of the board of directors. upon three months pre- vious written or published notice to the holders of record thereof. given in such manner as may be prescribed by resolution of said board. by pay ing therefor in cash s125 per share and all unpaid accrued dividends thereon at the date fixed for such If a>any time the board of directors shall determine to re- deem less than the whole amount of preferred stock then outstanding. the particular stock to be so redeemed shall in each instance be determined by lot in such manner as the board of directors shall prescribe.
 (d) On or before the first day of July. 1913, and on the first day of July in each and every year there after (until all preferred stock shall have been redeemed) there shall be set apart and credited to Special Sur plus Account"out of the surplus profits of the Company after all cumulated ond daforItad dividaudc nnOn caid