Mohave County miner and our mineral wealth., 1919-08-02
LEGAL NOTICES


 present and voted all said stock of said company; and the Articles of Incorpor- ation Of said compay were July amend Sd Sy proper hW m of the stockholders and stock of said com pany, amending the Articles of Incorpo!- ation, as in said resolution provided and which said resolution is n words and
 HResolved That Article Sixth and Article Eighth, and Article Ninth and poration of Western Livestock Loan Company, be and the same are LereDy amended to read as follows, with re- spect to said articles enumerated. Article Sixth.
 The place of the general business of ! this corporation and its principal of- fices, shall be at Salt Lake City, Salt Lake County, State of Utah. and the be found necessary or convenient for the purposes of the company.
 Article Eighth
 The capital stock of the corporation ($3OO, ,OOO.OO) Dollars. fully paid and non -assessable, divided into two thou sand san Id. two hundred and fifty t225O) value of One Hundred ($100.00) Dollars each and seven hundred and fifty (750) shares of common stock of the par value The preferred stock sinai be eight per cent (S%) cumulative stock. and divi- dends shal be paid thereon when earned, at the rate of eight per cent (s%) per annum, and when the preferred stock has not been satisfied at the above rate, the earnings of the entire capital stock shall be set aside for the payment of the rate of eight per cent (s%) per an mum. from the time of the issue of said stock. The common stock shall be non-cumulative and dividends shall only cfn yha,, ed, after all accumulated dividends are paid on this preferred stock for each year after the issue thereof.
 on ths for the of Board of Directors may pay dividends on the common stock, when earned; these dividends shall be at the rate of further net profits remaining after the preferred dividends have been paid and after eight per cent (S1 has been paid on the comonm stock and the directors do not wish to use the net profits for any other purpose provided for in the articles, then the remaining profits shall
 be apportioned as follows: One-half and one-half shall be applied on the common stock, issued and outstanding,
 The capital stock may be increased
 or decreased from time to time. accord
 ing to law, in such amounts and propor-
 tions as majority of all the outstand-
 ing common stock shall determine.
 In the event of the liquidation of the
 corporation, after all earned dividends
 have been paid, the preferred stock and the common stock, shall share equally, share and share alike, in the remaining assets of the corporation.
 Common stock shall have full voting
 power. Preferred stock shall have no voting power, except on the question of . selling out, merging with one or more
 other corporations. or liquidating and , ation. on which issues the preferred
 stock shall have the same voting power as the common stock. Article Ninth. The number and kind of officers of
 this corporation shall be as follows, to-wit:
 There shall be Board of Directors,
 consisting of not less than seven per
 sons, nor more than twenty-five, one of
 whom shall be President. one of whom f shai! be Vice-President and one of whom 2 shall be second Vice-President. The ! Secretary and Treasurer may or may not be directors and the qualifications of all < officers are that they shall be stock t holders in the corporation. Each off Q cer shall serve until the next annual I election of officers and directors, or ' . qualified.
 . poration shall be elected by majority vote of the outstanding common stock at the annual stockholders meeting, to ' be held on the twentieth day of Janu- ary Of each year, at the hour of two r o'clock P. M. at the principal office of the company. Any director or officer
 Of this corporation may be removed by f a majority vote of the outstanding com i mon stock. Any officer or director ot ' this corporation may resign his office s at any time by giving the board of di.
 rectors thirty (30) days notice in writ. - but it may be accepted on shorter no. \ tice.
 |. The officers and directors of the cor.
 poration shall serve until the next gen.
 eral election and until their successors ). &are elected and qualified.
 |. The board of directors shal be divid. ). ed into three classes; the first class :. cording to the total number of direc.
 tors and being third thereof, shall be
 elected for a period of one year; the
 second class and being as nearly as lr elected for two years, and the third e class being as nearly as may be com. ;. puted, third thereof, shall be elected }, for three years. At each annual cleo. f rectors whose term shall expire in that l. year, shall be elected to hold office fol e a term of three years, so that the tern k of office of one class of directors, shai e expire each year. Each director shal r be a stockholder. In the case of va d cancy in any class of directors, the re- '- vote of the majority, may elect sue 1t cessor to hold office for the unexpireG 7, portion of the term.
 y Article Tenth.
 e At least one-fourth of the entire l. Board of Directors elected and qualified n shall constitute a quorum and shall be k authorized to transact the business ant
 exercise the corporate powers of the cor
 poration.
 To be eligible to hold office of direc tor, the person holding the same mus e own at least one share of common stock
 as shown by the books of the company l, The board of directors may fill any
 vacancy caused by death, resignation ol
 removal of an officer or director.
 The board of directors may, from time
 to tims. as in its judgment it deems
 best, enlarge tie board by the election
 of other directors whom the board may
 elect, up to the number of twenty-five. . d All officers elected by the board shal l, serve until the next annual stockholders s meeting and until their successors are d elected and qualified
 e At any annual or special stockholders l. meeting any director or other officer r of the corporation, may be removed by = a majority vote of the outstanding com '- mon stock, whether his term of office 8 shall have expired or not
 - And we certify accordingly that the