The evening herald. [volume] (Albuquerque, New Mexico) 1914-1922, 1920-10-16
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(a) owners Of preferred stock shall have
no voice In the management OF the corpora
ton,
% Owners OF rommon stock shall be en-.
titled to participate in all stockholdors'
meetings aud 10 east one vote for each share
VI common stock recorded on the books Of
the corporation In the name Of the owner.
tc) Owners Of preferred stock shall he
emitted TO receive In each year on such date
or dates as the Board OF Directors may de-
torIniue, dividends aggregnting not over
eight per cont; said dividends being payable
exclusively out Of the net profits earned by
tho corporation during the preceding year;
snid dividends shall BIO non'cumulative.
I'D Owners Of common stock shall DO on
titled ~ receive dividends on such date or
dates rad o. such amounts as the BoaId Of
Directors may decide. said dividends being
payable out " the net profits and accumu'
lated SURPRISES Of the company, but no diyi.
dcnds shall be paid on the common stock
unless and until dividends have been do.
clAred In that year payable to he owners
Of tho preferred stock at the rate OF eight
per cent,
(e) In tho event OF the liquidation OF the
corporation and after all Just debts are paid,
the preferred stockholders shall be first On.
titled TO receive the face value Of their stock
In cash out Of tho assets Of the company,
hnl the balance OF the assets OF the corpora
iion, l any, shall be distributed pro rata
to the owners Of common stock in accord,
anee with their heid,nss
Inc time oil tnc commencement OF tHlN
corporation shall be the date Of tho issuance
10 II by the Arizona Cooperative. Commis.
sion Of u certificate Of Incorporation, and
the termination thereof ghall he twenty-five
t25) years thereafter, with the privilege
Of renewal as provided by law.
ARTICLE VII.
TIT affairs Of this corporation shall hs
conducted by a Board Of Directors, aud the
! following named shall constitute the Board
Of Directors unth their successors are
elected; Shares Sub
George RoSlington, Albuquerque, N. M.Io,BOO
Win, r. Ross, Albuquerque, N. Nc, 400
j. Il. liagy, Albuquerque, n. Mo-, 100
thereafter the Board Of Directors shall
be elected from among tho stockholders at
the annual stockholders meeting TO b. held
on the Fourth Thursday Of January Of each
year.
The Directors shah have power to adopt
and amend bylaws for the government OF
hf corporation, TO fiji vacancies occurring
in the Board from any cause. md TO appoint
an Executive Committee aud vest said coin
/ ndttee with all Of the powers granted the
DifeetorA By these articles,
ARTICLE *.
The highest amount Of indebtedness, direct
nr contingent, TO which the corporation shall
he suffice az any one time, shall he Ont
iddrcd Thousand Dollars (SiOO, pOp, O0l
witch does not exceed two.thirds Of The
amount Of the capital stock u this eorpo'
ARTICLE X.
Tho private property Of tho stoekholdcri
lid officers Of the corporation rhall b,
exempt from all corporate debts of any kim
in WITNESS WHEREOF we have here
W.T. set cur hands and seals this 4th day q
1890 GEORGE RosLIYGToN,
wM. v. ROSS,
]. r, HA0Y.
Sttte Of New Mexico. County Of Bornalillo
hnforn ne, A. W. Goodrich. a notary pub
u, IN and for said county aud state, on tli
day personally appeared George Roslington
VIM, y. Ross aud j. u. Hafy, to me know
20 be the persons who subscribed 10 tn
fore going instrument, and acknowledged Il
me that they executed tho same for the pur
poyse and consideration therein expressed.
Given rpaer my hand and seal Of ofiie
tiis 9TH day Of October, 1880.
Nj commission viii expire on the 14tl
day ~ April, 1924.
uTotariai sea) A w. GOODRICH
Notary Public,
Filed in the office Of the Arizona Cnrpn
rniien commission this 7uh day Of Oct. A, u
. at ~ a.. N. Ut request Of o. A.. Kane. who's
pos sffiee address IL phacniv. Ariroun.
AIIzONA CnpORATION COMMISSION,
ny AMOS A. nETrs
END6RsED
III F0reiRn
No. 1878