Arizona republican., 1920-02-03

Commission in the City of Phoenix, Arizona, at 10 A. M. on the 1th day of February 1920
 Dated Phoenix Arizona, this End day of February, 1920.
 B. R. COUTS.
 ARTICLES OF INCORPORATION
 OF
 ARIZONA STORAGE AND DISTRIB-
 UTING co.
 KNOW ALL MEN BY THESE PRESENTS, That we, the undersigned having associated ourselves for the purpose of organizing a corporation under the laws of Arizona, do hereby adopt the following Articles of Incor- poration:
 The name of this Corporation shall be: ARIZONA STORAGE AND DIS TRIBUTING co.
 ARTICLE II
 The names residence and postoffice addresses of the incorporators are:
 Thomas q. McReynolds, Phoenix, Ariz.; Phoenix, Ariz-
 Theodore G. Mckesson, Phoenix, Ariz.; Phoenix, Ariz,
 Henry w. Chambers, Phoenix, Ariz.; Phoenix, Ariz.
 Thomas c. McReynolds, Jr., Phoenix, AFiz,; Laveen, Ariz.
 Earl F. Drake Phoenix, Ariz.; Phoe- nix, Ariz.
 ARTICLE III
 The principal place of business of the Corporation shall be at Phoenix, Mari copa County, Arizona, but other offices may be established and maintained within or outside of Arizona, at such places as the Board of Directors may designate, where meetings of stock holders and directors may be held and any and all corporate business trans- acted.
 ARTICLE "
 The general nature of the business proposed to be transacted is: To en- gage in warehousing, storage, trans- portation and marketing of any and all goods, merchandise materials and products of any kind or description; to acquire, hold, rent, lease. exchange, improve and convey lands and build- ings of all kinds: to purchase, lease, exchange. pledge or receive in pledge any and all kinds of personal property; to engage in any activity or enterprise which may promote the production, purchase or marketing of any goods, materials, merchandise, or products of any kind or descriptions; to produce, manufacture and sell all kinds of goods, wares and merchandise: to ac- quire, hold, rent, lease. exchange, im- prove, and convey lands, water rights, canals, dams and dam sites; to borrow or loan money for the promotion, de- velopment or operation of any and all of the said lines of business herein mentioned; and to issue bonds, notes, debentures, and other evidences of in- dehtedHess, and secure the payment of the same by mortgage, deed of trust or otherwise; to own, handle and control shares of it's own capital stock, and those of other corporations, and to vote any shares of stock in other corpora tions, owned by it, the same as a. nat ural person might do; and in general to transact businSS in connection with the foregoing objects not inconsistent with law, in any part of the world, as the Board of Directors may deem to the advantage of the Corporation.
 ARTICLE V
 The capital stock of the Corporation shall be Five Hundred Thousand Dol lars (s500, ,O0O.00), divided into Twenty five Hundred t2500) shares of Pre- Dollars (s100.00) each, and Twenty five Hundred (250e) shares of Preferred stock of the par value of One Hundred Dollars Cs100.6O) each. All of which shall be paid for at such times as the Board of Directors may designate, in cash, real or personal property, serv- ices, or any other valueable right or thing for which said shares of stock may be issued; and the capital stock so issued shall thereupen he fully paid up and non -assessable forever; and in the absence of actual fraud in the trans action, the judgment of the Board of Directors as to the value of the proper ty, services or things of value paid in, shall be conclusive. The holders of the Preferred stock shall be entitled to receive when and as declared from the surplus or net profits of the Corpora ton, yes rly dividends at the rate of, but not exceeding, as hereinafter pro- vided, eight per cent (Seb) per annum, payable quarterly, for each and every year from the issue of said stock.
 The dividends on the Preferred stock shall be cumulative and shall be pay able before any dividends on the Com mon stock shall be paid or set apart; and if the dividend be not paid or fully paid in any year, said dividends or the deficiency as the case may be shall be made up and paid from the net profits in the subsequent year or years.
 Accommodations of dividends upon the Preferred stock shall bear interest at the rate of S9o per annum. The Pre- ferred stock is subject to redemption at one hundred and ten per centum G1OTc), and accrued dividends to date, these articles are recorded with the Secretary of State.
 In the event of any liquidation or dissolution of the Corporation, whether voluntary or involuntary, the holders of the Preferred stock shall be entitled to be paid in full, both the par value of their shares, and the unpaid divi- dends accrued thereon. before any amount shall be paid to the holders of the Common stock.
 So long as the said dividend on the said Preferred stock shall be paid at the rate of eight per cent, (8To), per annum, as aforesaid, the holders of the Common stock shall have the ex- elusive voting power, and the holders