Albuquerque morning journal. [volume] (Albuquerque, N.M.) 1903-1926, 1922-01-25

part of the obligations or liabilities
of any person, firm, association or
corporation,
To acquire. hold, use. sell. assign.
lease, grant. licenses in respect of.
mortgage, or otherwise dispose of
letters patent of the United States
or any foreign country. patent
rights, licenses and privileges, in
ventions, improvements and pro-
cesses, copyrights. trade marks and
trade names. relating to or useful
in connection with any business OF
this corporation.
To issue bonds. debentures or OBJ
legations of this corporation from
time to time, for any of the OBJ
iects or purposes of the corpora
ton, and to secure the same by
mortgage, pledge. deed of trust or
otherwise.
To purchase, hold, sell and trans
| fer the shares of its own capital
stock; provided it shall not use its
funds or property for the purchase
of its own shares of capital stock
when such use would cause any
impairment of its capital; and pro-
vided further that shares of it's own
capital stock belonging to 1t shall
not be voted upon directly or indi-
rectly.
To have one OF more offices, ia
carry on all or any OF its operations
| and business and without restric-
ton or limit as to amount to pur-
chase or otherwise acquire, hold
own, mortgage, sell, convey or
otherwise dispose of real and per
sonal property Of every class and
description in any of the states, dis
tricts, territories or colonies of the
United States. and in any and al
foreign countries, subject to the
laws of such state, district, terri
DRY. colony or country
In general, to carry on any Other
business in connection with the
foregoing, whether manufacturing
or otherwise, and to have and ex
ercise all the powers conferred b.
the laws of Delaware upon corpo
rations formed under the act here
matter referred to, and to do an!
or all of the things hereinbefor,
set forth to the same extent as nat
ural persons might or could do.
The foregoing clauses shall b
construed both as objects and pow
ers; and it is hereby expressly pro
vided that the foregoing enumera
, ton of specific powers shall not b.
held to limit or restrict in any man
! ner the powers Of this corporation
Fourth. The total authorizes
capital stock of the corporation i
two hundred and fifty THOUSAND
($25O,00.00) dollars, divided int
/ one hundred and fifty THOUSAND
shares of common stock of the pa
value of one dollar each and on
hundred thousand dollars Of pre-
ferred stock OF the par value o
ten dollars each.
From time 20 time the preferre
stock and the common stock ma
) be Increased, according to law an
may be issued in such amounts an
I proportions as shall be determine
by the board of directors, and a
7 may be permitted by law.
| The holders of the preferre
stock shall be entitled to receive
G when and as declared from the sur
T. plus or net profits of the corpora
4 ton, yearly dividends at the rat
n OF seven per centum per annun
+ and no more, payable annually. o
h dates to be fixed by, the bylaw
O. The dividends on the preferre
n stock shall be cumulative, and sha
n be payable before any dividend o
the common stock shall be paid {
Z set apart; so that, If in any yes
G dividends amounting to seven pt
d cent shall not have been paid there
IS on. the deficiency shall be payab
- before any dividends shall be pal
y upon or set apart for the commo
# stock.
Whenever all cumulative div
dends on the preferred stock Il
n all previous years shall have bee
declared, and shall have becon
payable, and the accrued annu
= installments for the current vel
T shall have been declared and Il
IS company shall have paid such CT
mulative dividends for previo'
J. years, and such accrued annual i
le stallments, as shall have been s
aside from its surplus or net pr
In fits q sum sufficient for the pa
1t ment thereof. the board or d1fec
~ ors may declare dividends on Il
w common stock, payable then
Of thereafter out of any remainii
L. surplus or net profits.
a, In tho event Of any liquidati'
g. or dissolution or winding
whether voluntary or involuntar
f. OF the corporation the holders
o. the preferred stock shall be entitl
I'd to be paid in full both the p
amount of their shares and the u
or paid dividends accrued thereon, b
e, fore any amount shall be paid
or the holders Of the common stoe
st, and after the payment to the hol
Is, ers Of the preferred stock Of
al par value. and the unpaid accru
ry dividends thereon. the remain
assets and funds shall be divid
h, and paid to the holders of the col
on mon stock according to their
is, spective shares.
r. The preferred stock Ia not 9
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