The evening herald. [volume] (Albuquerque, New Mexico) 1914-1922, 1919-11-07

INNffNNNN IHUAi NtNEf NftNT nNUNNNlNA NNn
amount paid for federal aud siats taxes dns
In said year. arc equal % three times the
annHal dividend requirements on the pre-.
isfred st9et ovistanding ~ the time o. the
defihfA'inn ~ tuct cnulmnu stock dlvldenc
% 81 the tins 81 any purchase or retire.
mrnt - rpmmon ttock. nor " the sinking
fand provided for N paragraph numherr'i
~ o. ,nls Ari.s N arrss,. yalek
or cash on hand and In bank. bills. noist
and accnunta receivable. ingsnfofiea nna
Hnrketabis securities, other than .scarlilcs
Of Tits corporation. Liabilities shall evnslsi
u Indebtedness for harreaed monry, hills
notes and accounts payable and taxes a..
cfned. Net quick naseis sha1 consist o. me
eseess q auiek asseis over liebiii,iea a.
ts) rhs preferred stock shan have 40
voting power except ~ W this paragraph
provided. in TIE event o. tso fal ranaeea.
dividends % the preferred stoek, ne pre-.
iefrcd stostholdqrs shall have the psirilerr
u electinE one ueinher ~ the Hoard on
bire,ipu al the nvxi succeeding annuai
eieeiious and. in the event 81 four az con
rtrutlvt irfarlfs w the payment % auar.
terly divldends On the Procured stof ihr
prrfcrrrd sfetkhoidefs taell have 80 priv.
lerc ~ sleetinE a majority Of she Board Of
Directors a. the neat Hucfredinr nnnual
election. Any such ~pris1srr nhaH b. ~.
taiued. Nhen oner acquired. until ~ aceu.
INFLATED dividends are paid fhe holders
81 the preferred stock shall be- entitled 10
" HHHN
transferring or otherwise dispoalng Of the
property and estate Of the corporation a.
IN entirety. The Corporation thhil not be
iasrged or consolidated with any other coz
pnratiov without the vote or consent 81 the
holders 81 A. least 4 majority In amount o.
the outstanding preferred stock. No notes
or hnfsd debt maturing later than one yesi
from the date of issue shall b. created By
the corporation without the vote or consent
Of the holders Of sixty.six and tUothirdn
yer cent teo 2-a,f) ~ smount q the out,
stanRirx preferred stock provided, however
that nothing herein shall be construed 10
prechfe the purchase Of properties subject
20 efattine liens or the creation o. purchase
money NOR cages cr rurchase meuey liens
on propernes herelneftef acquired. The
serporsilon shai not create say ahares Of
stock having priority ovef@or rariiy with
the preferred stock. either a. 10 dividends or
aesei- nor guarantee obligations stocks. or
dividends q any fahsidiary or other eorpo-
ration. without the consent or vote ~ the
holders 81 seventy.lve per cent (TfCt1 IN
amount 81 the outstanding preferred stock
nor shall these Articles o. Incorporation BE-
of he preferred stock hereby created with
out the unanimous vote or consent 81 the
holders o. the outstanding preferred stock
,iO tn sorperatien shall annually be-
Issue o. preferred stock. set aside a. q
sinking fund for the retirement and can
collation. Of thu preferred stock. out Of the
surplus profits arising from tho business o.
-" 'NWH HH"NNN aNN|N WV IAN
ment of dividends on the preferred stock. a
sum snfficleut 90 retire In one 81 the meth
DDS hercihaiter provided an amount Of pre-.
ferfed stock equal 20 five per cent (5Nh
Of The iArFrsi iinnunt of preferred stock II
any time outstanding during the year. pro.
vidcd that in no event shall the sum 10 set
eside ian below such sum a. may BE- nee
yalae q one Hundrsd Fifty Thousand Dol
lar Ottt0.0oOl. II the sum set aside Ia any
year shan creed ne annual ameuni hereby
The sum 90 be set aside 10 a succeeding year.
All moneys 20 set aside ~ q sinking fund
shall be applied IS foiic~s;
tal Al the option Of the corporation 70
purchase during the year in the open mar
KIT Al the heat prices obiainahle, hus not IN
ex,ess % One Hundred Five Dollars tti0s1
a share aud accumulated dividends 20 thu
date Of purchase preferred stock OF the
corporation 60 such extent a. the sum In
the sinking fund shall prrmiti
~ The balance. u any. thereafter re-
naming In the sinking hu. ~tnuless such
balance he less than Five Thousand Dollar
(si ,0pnl In which case ths said sum 40 re-
naming may he carried over and added "a
the sam required % be- set aside In She neSi
succeeding .yearl, shah be applied IN surt
manner and by sneh method a. the Beard
Of Directors may determine during the first
quarter u the next succeeding year 10 ths
redemption Of nreterrrd stock upon sixiy
record u the preferred stock 10 be rederfu
ed. A. On, Hundred Five Dollars tffOSl
per share and an amount equal 10 ascumu
listed dividends TO the date Of redemption
'Any shafes Of preferred stock pur
chased by the corporation or called for r.
drinption shall not be relssued or Eesold and
shall w. cancelled
Third. That Article TX be amended a,
hl u, Inserting the word "commou''
before the word ''stock' Ne each and ever,
place. except the first where the said worl
apfears in the said Artiel- and BY inser
i Ing the MuFN fHHuUmWmF Nnfnrs the uuFH|
Article.
Poanh. That Articles X be and hereby
l. amended 10 read ~ folluwsi
The subscriptions for and ownership n
all common stock In this corporation .ar
made and taken npon the condition that m
shall first deliver the same 60 the boar,
~ Directors of this corporation for sac
which Board Of Directors shall canse thI
same 10 be appraised by three appraisers
par a. be- selected by the vendor 81 the tim
81 delivering the same 30 the Hoard Of hi
rectnrs, and one 20 be- selected by the bopri
u Directors At The neat meeting % tn
board. aud the third To BE- selected b. ihI
two selected appraisers, each appraiser
however. 90 be- a siocAhulder owning cunimul
stock in this corporation, bat not a stock
holder Of the class Of common stock offers
for sale. and the d~irectors shall forthwith
offer the SANE for sale ~ said Appraisal
value 20 the stockholders holding the elias
of common stock offered for sale who shall
nave tiAt1 thnl days time IN Whirh 20 -
ercise their right 90 purchase the same a
said price and. II two or more off. 20 eK
ercise their rights - purchase the same a
said appraised value, then the Board Of ID
r%eciors shall, unless otherwise agreed upo
by the said bidder. seli the same 10 ther
share and share alike IN ease Of thsir ne
elect or %rrfuszl 20 purchasc the same % sai
appraised value. then. and Ia that ease, IN
Board ~ Directors shall offer the SAINT .
the other HOLDER of common stock % a
corporation, except the appralsers. who shnI
have sixty 600 daya' additional time }
which 10 sasfrise their firht of option Z
purchase the same At said appraised yalu'
and in ease two or more Of such stnrkh0lf
era shall offer 90 purchase The same AZ al
appraised value within said siKty 600
days and in that case, the board Of D
~recturs shall Heli The same Go them shar
and share alike. After the expiration q
said tins Ne stoekholder Offering sue
common stock Tor sale shall De- free 90 max
any other sale 0T disposal u bis commu
stock. Mheu said appraisemaut shall D
, completed aud The price established Thereof
the Board 81 Dirertnrs shall notify sai
vendor Of the appraisrmrnt value place
thereon by said appraiser sud shah ~
sell or deliver said cgmmon stock autll nj
tice shall have been given % said veude
who may al auy time prior 90 Gale, by d.
lyrrinE written or tfirrraphic notice thi
the appraised value r. not satisfactory