Albuquerque morning journal. [volume] (Albuquerque, N.M.) 1903-1926, 1922-01-24

otherwise acquire. own, mortgage
pledge, sell, assign and transfer o
otherwise dispose Of, to invest
trade, deal in and deal with, goods
wares and merchandise and rea
and personal property of ever,
class and description.
To acquire. and pay for in cash
stocks or bonds of this corporation
or otherwise, the good will, rights
assets and property, and to under
take or assume the whole or an.
part of the obligations or liabilitie
Of any person, firm, association o
corporation.
To acquire, hold, use. sell. assign
lease, grant. licenses in respect of
mortgage, or otherwise dispose o
letters patent of the United State
or any foreign country. paten
rights, licenses and privileges, in
Ventions, improvements and pro
cesses, copyrights. trademarks ant
trade names. relating to or usefu
in connection with any business o
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 b!
mortgage, pledge. deed of trust o.
otherwise.
To purchase, hold, sell and trans
fer the shares of its own capita
stock; provided it shall not use 1T
funds or property for the purchas'
of its own shares of capital stool
when such use would cause an!
impairment Of its capital; and pro
vided further that shares of its owl
capital stock belonging to 1t shall
not be voted upon directly or indi
rectly.
To have one or more offices, Il
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 o.
otherwise dispose of real and per
sonal property of every class ant
description in any of the states, dis
tricts, territories or colonies OF tn
United States and in any and al
foreign countries, subject to tn
laws of such state, district, terri
tory, colony or country.
In general, to carry on any othe
business in connection with tn
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 authorized
capital stock of the corporation j
two hundred and fifty THOUSAND
(S25O,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 preferred
; stock an2 the common stock ma
be Increased, according to law AM
may be issued in such amounts am
PROPORTIONS as shall be determine
by the board of directors, and a
may be permitted by law.
The holders of the preferred
| a,tftln1 IN rnG9lVG
when and as declared from the sur
) plus or net profits of the corpora
ton, yearly dividends at the rat
of seven per centum per annum
and no more, payable annually. o.
dates to be fixed by the bylaws
The dividends on the preferre.
stock shall be cumulative, and shal
be payable before any dividend o.
the common stock shall be paid o
set apart; so that, If in any yea
! dividends amounting to seven pc
cent shall not have been paid there
: on. the deficiency shall be payabl
, before any dividends shall be pal
! upon or set apart for the eommo
stock.
Whenever all cumulative divi
u6IluS Oll lu6 pIGltlLtu HIOSh Az
all previous years shall have bee
j declared, and shall have becom
payable, and the accrued annua
S installments for the current yea
. shall have been declared and tn
D company shall have paid such GU
] mulative dividends for previou
years, and such accrued annual in
a stallments, as shall have been sc
:, aside from its surplus or net pre-
fits q sum sufficient for the pay
ment thereof. the board of direct
!, ors may declare dividends on tn
J common stock, payable then c
G thereafter out of any remainin
I surplus or net profits.
h In the event of any liquidatio
or dissolution or winding u
whether voluntary or involuntary
of the corporation the holders
the preferred stock shall be entitle
= to be paid in full both the pa
amount of their shares and the Ill
Il paid dividends accrued thereon, b.
fore any amount shall be paid
Y the holders of the common stool
II and after the payment to the holt
ers of the preferred stock of /
e par value, and the unpaid accrue
i dividends thereon. the remainir
d assets and funds shall be divide
n and paid to the holders of the con
II mon stock according to their r.
h spective shares.
e The preferred stock is not Ell
n titled to vote at stockholders NEE
n ings of the company, and is SUI
ject to redemption by the compar
e at any time after five years |
lie paying par value together with q
d accrued dividends, however mott,
is of thirty days must be given IL
l. holders of said stock before r
y demption can be had. Notice sha
If be given by placing in the Unite
States mail letter addressed
holder of record of said stock.
n Fifth. The amount of capt.
stock with which this corporate
will commence business is o.
y Thousand Dollars $1.000.00).
T Sixth. The names and places
is residence Of the original subscri
ers to the capital stock and Il
J. number Of shares subscribed for
10 each are as follows:
L. u. Jones, Wichita Falls, TIE
IN as, ESQ shares common.
at ]. G. Wharton. Wichita Fal
.y Texas, $50 shares common.
W V. r. Jones, wichita Falls. TIE
Of as. ESQ shares common.
l. J. r. Wilson. Wichita Falls. TIE
a, as, ESQ shares common.
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