The Coconino sun., 1919-12-12

amount equal to accumulated div idends to the date of redemption.
 Any shares of preferred stock purchased by the corporation or called for redemption shall not be reissued or resold and shall be cancelled"
 3rd. That Article TX be and hereb S amended as follows:
 (a) By inserting the word "com non" before the word "stock" in eac md every place, except the frs where the said word appears in tn aid Article, and by inserting the wor common" before the words "capits tock" in the last sentence of sai Article.
 4th. That Article X be and hereb s amended to read as follows:
 "The subscriptions for and own ership of all common stock in this corporation are made and taken upon the condition that the pur- chaser or holder thereof desiring to sell the same shall first deliver the same to the Board of Direc- tors of this corporation for sale, which Board of Directors shall cause the same to be appraised by three appraisers, one to be select ed by the vendor at the time of delivering the same to the Board of Directors, and one to be select ed by the Board of Directors at the next meeting of the board, and the third to be selected by the two selected appraisers, each ap- praiser, however, to be stock holder owning common stock in this corporation, but not stock holder of the class of common stock offered for sale, and the di- rectors shall forthwith offer the same for sale at said appraised value to the stockholders holding the class of common stock offered for sale, who shall have sixty (60) days time in which to exercise their right to purchase the same at said price; and, if two or more offer to exercise their rights to purchase the same at said ap- praised value, then the Board of Directors shall, unless otherwise agreed upon by the said bidders, sell the same to them share and share alike. In case of their neg lect or refusal to purchase the same at said appraised value, then and in that case, the Board of Directors shall offer the same to the other holders of common stock of the corporation, except the appraisers, who shall have sixty (60) days additional time in which to exercise their right of option to purchase the same at said appraised value, and in case two or more of such stockholders shall offer to purchase the same at said appraised value within said sixty (60) days, then, and in that case, the Board of Directors shall sell the same to them share and share alike. After the ex- piration of said time the stock holder offering such common stock for sale shall be free to make any other sale or disposal of his com mon stock. When said appraise- ment shall be cdmpleted and the price established thereon, the Board of Directors shall notify said vendor of the appraisement value placed thereon by said ap- praisers and shall not sell or de- liver said common stock until mo- tice shall have been given to said vendor, who may at any time prior to sale, by delivering writ ten or telegraphic notice that the appraised value is not satisfac- tory to him, withdraw said com. mon stock from sale; whereupon the said Board of Directors shall return said common stock to said party. These provisions shall be binding upon the successors, heirs, administrators, executors, and as- signs of the holders of common stock of this corporation"
 9th. That Article XIV be and her by is amended to read as follows:
 "The annual meeting of the stockholders shall be held on the fifteenth (l5th) day of January, 1914, and annually thereafter, at one o'clock p. m., at the offices of the company in Salt Lake City, Utah, unless changed at any reg ular stockholders meeting; and notice of said meeting shall be given by the secretary, who shall mail a notice of the said meeting to each of the stockholders entitled to vote at such meeting at his last address as shown on the books of the corporation, at least ten (10) days prior to said meeting. Fail ure to notify shall not invalidate the acts of the meeting. A repre- sentation of a majority of the capital stock entitled to vote, shall be necessary to hold a stock holders meeting, either general or special, or, where in accord ance with the provisions of these Articles of Incorporation the hold CTS of class of stock votesas g class, then, a representation of g majority of the stock of such class shall be necessary to hold a stockholders meeting as to such class; and each stockholder shall be entitled to as many votes as he may hold shares of the capital stock entitled to vote, as shown