The border vidette., 1922-03-25

! other nets and things. and to exercise any and all power, W which 2 co partner ship or natural person could fuily do and exercise, and which HOW or 1 hereafter may ba authorized by law. l Provided ,hnwev tha foregoing clauses
 and restatiUns Of objects shall be con 1 strued both as ohjacis and powers, bpt | no restriction, expression or declaration l of specific or special powers or purposes | herein enumerated shall be decreed to
 declared that all O her lawful powers not inconsistent herewith are by included.
 ARTICLE "
 The authorized capital stock Of tbis | corporation shall be Three IIu Id red ! Thousand $500 eco. CO., Dollars. divided 1 into three hundred thousand (3GO G09) shares of the par value Uf One ($l 0U) | Dollar each.
 Of said shares cpe hundred and fifty thousand C5O 000i therenf shall be com mon, and one hundre1 and fifty thous-
 and N5A 000l thereof shall be prc'errcd stock The terms, ccnditioJs. lim;ta- lions and provisions upon which said preferred stock iS Io be issued are: (h The holders thereof sha'l be en- titled tN receive out of the net profits of the corporation fixed minimum divided at the rate of eight per cert iS per cent) per annum, payable at snch periods as the directors may determine, before any divid end can be set part or paid on the common stork for tEc period heretofore -flapsed, and the principal or gar va'ue Of the said pro- ferTed stock, with accumulated eight (S per cent) per cent dividends shall be paid in full in preference to the com mon stock, in the event Of any Iquid a- tiOn or the company whether through insolvency or the termination Of it's corporate CxsteLce or otherwise. The said eight per cent divid ends cn said preferred stock shall be cumulative. so that Ii Tor any period or periods the same can not safely be paid the right thereof shall accumulate against the common stock. and alI arrears of said dividends on said preferred stock so accum ulated must be paid before 'vid- ends can be commenced or resumed q on the common stock. Tn any year after pay ment of dividends at the rate of eight per cent per annum on the pre- ferred stuck, tLe holders Of common stock shalt be entitl ed to all profits distributed as dividends, up to ten per cent per annum on their stock. Ip any calendar year when dividends aggrega,- ing ten per cent shall havo been paid on the common stock, if any further
 dividends to be declared the same shall be distributed pro-rata between the common and preferre1 stock stock holders.
 (2) The preferred stock is issued to | and accepted by stock holder upon the press understanding. and the right is hereby reserved to the stock holder of this corporation, that these Articles Of Incorporation may be amended in the manner provided by law for increase of preferred stock and the directors oi this corporation may with the consent of any holder of preferred stock retire the sane
 (3) Snid preferle ed stock skaIl have full voting power at all meefings of Sfn fnP hnl t.1T he mO stock
 (4) At the option of the hol Ter of any Of said preferred stock, the same may at any time be exchanged for com mon stock of an equal amount. 4 such time the board of direct ors. by resolution, shall direct said capital stock, common and preferred, shall be paid into this corporation either in cash or by sale or transfer to the corporation Of real or personal pr1per- other valuable right or thing, for the use or purposes of this corporation. in pay yment for which shares of capital stock of the corporation, common or preferred as the directors ehall by re solution direct, may be issued, and tho capital stock so issued shall thereupon and thereby become and be fully paid up and forever non assessable The judgment of the board of directors as the value of property or services re- C0lN0d III GAEHHDBS TOT SGpck SDhI Ee conclusive in the absence of actual fraud.
 ARTICLE
 The time Of the commencement of this corporation shall be the date of the filing of d certified copy of these Artt- cles of incorporation for record in the office of the County Recorder of the County of Santa Cruz, State of Arizona, and the termination thereof shall be twenty five (25) ears thereafter, but the right is reserV ed to renew this cor pOration from time to time as by the present or any future laws of the State of Arlzona may be provided.
 ARTICLE VI
 The general management and control Of the business, property. interests. and affairs of this corporation. are and shall Directors consisting of not less than | three (3) or more than five (5) persons | each stock holder in this corporation |
 By laws shall be adopted for the bet | ter regulation of the more detail affairs 1 of tEis corporation, and therein the | number of stock kholders which shall | comprise the Board of Directors. within | the limits fixed by these articles, shall | be provid ed.
 Until such bylaws shall be adopted, ! and shall otherwise provide. the Board 1 of Directors of this corporation shall | be com posed of three (3> persons.
 Except in the case of vacancies the | Board of Directors shall be elected an nually at the annual meeting of the stockholders, at any adjournment of such annual meeting, or, at any special meeting called Tor that purpose among