Arizona republican., 1920-03-02
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otherwise dealing in real estate; Oper- ating and managing ranches, farms city and suburban property. stores warehouses, office and other buildings; constructing and erecting dwellings, stores, warehouses and other buildings and structures; buying and selling, storing and dealing in merchandise. farm products and other property: operating and managing cattle and sheep ranches and ranges and the animals thereon, and feeding, shipping and marketing live stock; buying and selling notes. bonds, mortgages. deben- lures and commercial paper. whether issued by itself or others; loaning money, carrying on a general insur- ance agency business; buying. selling or dealing in the capital stock of this and other corporations and holding and controlling the same; acquiring, con- structing, owning. operating and con trolling canals, plants and systems for the carrying or distributing of water for irrigating; domestic, light heat or power purposes, telegaph and tele- phone lines; owning and operating au- tomobiles. trucks and other freight and passenger carrying vehicles, and gen erally making all contracts and the acquiring and the transferring of prop erty with the same powers in such respect as private individuals now en- joy; and the doing of all of said things either for itself. or as the agent, o
 This corporation shall also have power to act, and may act. as executor, administrator or guardian of persons, property and estates.
 ARTICLE V.
 The authorized amount of capital stock of this corporation shall be Two Hundred Fifty Thousand $25o,000) Dollars. divided into Two Thousand Five Hundred (2,500) shares of the par value of One Hundred ($100) Dol lars each. The capital stock shall be paid for at such times the Board of Directors may by resolution direct, either in cash or by the sale and trans fer to the corporation of real or per sonal property, contracts, services, good will. or any other valuable right or thing; and the shares when so paid for and issued shall thereupon become and be fully paid and non- -assessabie. The Judgment of the Board of Direc- tors as to the value of the property or good will purchased, or services rendered. or other valuable right or thing, transferred or given for such capital stock. shall be conclusive.
 The holders of the stock of this corporation shall be entitled to vote the same either in person or by proxy.
 (a) Stockholders in this corporation desiring to sell or transfer their stock shall first submit notice thereof in writing to the secretary of this cor poration, and the corporation shall then have the option for the period of thirty days to purchase such shares, or such portion thereof as the corpo- ration may desire. at the value thereof as fixed by the Board of Directors on the next preceding first day of Jan- uary, together with per cent interest on such value from such date, to- gether with 10 per cent additional on such fixed value.
 (b) Shares of stock owned by off, nd nf hi shall be purchaseable by the corpora tion at it's option for a period of thirty days following the date upon which the officer shall resign or be removed from office or the employee shall leave the service of the corporation or be discharged therefrom, at price equal to the value thereof as fixed by the Board of Directors on the next pre- ceding first day of January. together with 8 per cent interest on such value cent additional on such fixed value.
 Co In case of the death of any stockholder the corporation shall have the right and option to purchase one half or all of the stock of such de- ceased shareholder a.-$y time within six months after receiving notice of such death at price equal to the value thereof as fixed by the Board of Directors on the next preceding first day of January, together with s per cent interest on such value from such date. together with 10 per cent addi- tional on such fixed value.
 (d) All the foregoing options may be exercised by a majority vote either of the board of directors or of the stockholders exclusive of the di- rector or stockholder in interest
 Gel The foregoing provisions let tered to q, shall be binding upon the l stockholders. their heirs. executors and l and upon the grantee of any shares sold on execution, bank l ruptcy or other involuntary proceed ings, and no stock shall be sold or assigned or transferred on the books of 1 this company nor shall any earnings | be credited to. or dividends be paid | or votes be cast or received on any l stock sold or transferred contrary to these provisions.
 ARTICLE VI