Arizona republican. [volume] (Phoenix, Ariz.) 1890-1930, 1920-01-06

addresses of the incorporators are:
Thomas C. McReynolds, Phoenix
Ariz Phoenix, Ariz.
Theodore G.. McKesson, PhoeniA'
Ariz.. Phoenix, Ariz.
Henry w. Chambers, Phoenix, Ariz-'
Phoenix, Ariz.
Thomas C. McReynolds, Jr., Phoenix,
Ariz.; 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
coma 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 ana
any and all corporate business trans
acted.
ARTICLE "
The general nature of the business
proposed to be transacted is: 10 en-
gage in warehousing, storage, trans.
portation and marketing of any and all
goods, merchandise. materials ana
products of any kind or description
to acquire, hold. rent, lease, exchange,
improve and convey lands and build
ings of all kinds; to purchase, tease
exchange pledge or receive in pleoge
any and all kinds of personal property;
to engage in any activity or enterprise
which NAV promote the production,
purchase or marketing of any goods.
materials merchandise, or products OF
any kind or description; to produce,
manufacture and sell all kinds OF
goods wares and merchandise; to ac-
quire hold, rent, lease, exchange, I'M
prove and convey lands. water rights.
canals, dams and dam sites; to borrow
or loan money for the promotlon, de-
Velopment or operation OF any ana all
of the said lines of business herein
mentioned; and to issue bonds, notes
debentures. and other evidences of IN
debtedness, and secure the payment or
the same by mortgage, deed OF trust, or
otherwise; to own, handle and controi
shares of its own capital stock, ana
those of other corporations, and to vote
any shares of stock in other corpora
tions owned by it, the same as a nat
uraI 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 (s5O0, 100000. divided into Twenty
five Hundred (2500) shares of Pre-
ferred took of the par value of Hundred
Dollars (S100.00) each, and Twenty
five Hundred (2500) shares of Preferred
stock of the par value of One Hundred
Dollars ($100.00) 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 valuable right or
thing for which said shares of stock
may be issued; and the capital stock so
issued shall thereupon be fully paid up
and -assessa,ble 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 or
the Preferred stock shall be entitled TO
receive when and as declared from the
surplus or net profits of the Corpora
ton, yearly dividends at the rate OF,
but not exceeding. as hereinafter pro-
vided eight per cent $50 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 SO per annum. The Pre-
ferred stock is subject to redemption at
one hundred and ten per centum
110q6), and accrued dividends to date,
on or after five years from the time
these articles are recorded with the
Secretary Of State.
In the event of any liquidation or
dissolution of the Corporation, whether
voluntary 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, $50, per
annum, as aforesaid, the holders of
the Common stock shall have the eX-
elusive voting power, and the holders
of the Preferred stock shall have no
voting power on any question what
soever, nor shall they be entitled to
receive any notice of stockholders
meeting: but should there be a default
in the payment of the dividend on the
Preferred stock amounting to twenty
four per cent (24e6). then and SO long
as such dividend or any part thereof
remains unpaid the holders of the
Preferred stock in respect to which
such dividend or any part thereof re-
mains unpaid shall be vested with the |
exclusive voting power. and the voting