Arizona state miner., 1924-05-03
ponds of this corporation. or other.


money, TO create Indebtedness in con-
nection with the foreg DING matters; to
issue promissory notes. bonds, deben-
ceivable evidence of indebtedness, and
to secure the payment thereof by the
execution, acknowledgment, and deliv-
cry of mortgages, pledges, or deeds of
trust. or other security, upon any or all
of the property of this corporation, or
in any other manner that may be ad-
visable and legal;
(e) To enter into, make, perform
and carry out contracts of every kind
for any lawful purpose, with any per-
| son, firm, association or corporation;
| (fl To have one or more officers to
cPrry on all or any part of its business
OR opera tiOns in any of the states, dis
tricts, territories and colonies of the
United States. or in any and all for eign
countries, subject to the laws of such
states, districts, territories and colonies,
and countries; to purchase or otherwise
acquire. to hold, own, mortgage. sell.
convey, or otherwise dispose of real
and personal property of every class.
sort and description, in any of the said
states. districts, territories and colon
les of the United States, and in any
and all of said foreign countries. SUBJ
ject to the laws of such states. districts,
territories and colonies, and such for
eign countries;
(g) In general. to carry on any other
business in connection with the forego-
ing. whether manufacturing or other
wise, and to have and to exercise all
the powers conferred by the laws of
|
der and by the provisions of said Law s;
(h) To own, handle and control let
ters patent and Inventions; to issue,
own, cancel and REISSUE shares of it's
own capital stock, and to own and vote
shares of other corporations; to act as
agent, trustee or broker, and to hor-
row and loan money.
ARTICLE III.
I, l. The total authorized capital stock
of this corporation is one hundred thou
sand dollars ($l00, 000.00). divided into
five hundred (500l shares of preferred
stock OF the par value OF one hundred
dollars ($l00.00) each. and five thou
sand (5, 5,000) shares of common stock
of the par value of ten dollars $4,000
each, each of which, both preferred
and common, shall be paid in at such
time as the board of directors may des-
| ignate, in cash. real or personal prop
erty. services, leases, options to pur-
chase, or any other valuable right or
thing, for the uses and purposes of the
corporation, and all shares of capital
stock, when issued in exchange there
for. shall thereupon and thereby be-
come and be full-paid the same as
| though paid for in cash at par, and
shall be worcestershire forever, and the
| judgment of the directors as to the
value of any property right or thing
acquired in exchange for capital stock,
shall be conclusive;
2. The holders of preferred stock
shall be entitled to cumulative dividends
thereon at the rate of eight per cent
(8%) per annum, payable out of any
and all surplus or net profits of the
corporation on such date as may be
fixed by the board of directors. In the
event of the dissolution or liquidation
of the corporation, the holders of pre-
ferred stock shall be entitled to receive
both the par value of their preferred
! shares and the unpaid dividends ac-
crued thereon before anything shall be
paid to the holders of the common
stock. These rights and privileges of
the preferred stock shall not be altered,
amended or resc'nded without the con-
sent of all of the holders thereof. The
said preferred stock shall carry no
right to vote, and the holders thereof
shall not be entitled to vote at any
meeting of the stockholders or at any
election of directors;
3. Common stock shall be entitled
to annual dividends from the profits of
the corporation. payable on such dates
as may be fixed by the board of direc-
tors, and shall carry the right to vote,
and each holder thereof shall be en-
titled to one ~ vote for each share of
said stock held by him:
4. The amount of capital stock
which has been subscribed is twenty
five thousand dollars ($25, 600. .00). and
the follow ing ere the names of the
subscribed, to-wit:
NAME NO. of SHARES AMOUNT
Preferred Common
Earl C. Nelson 100 $50 $12,500:O0 |
William Paar 100 $50 SIP, 500. 90 ]
ARTICLE w.
The time of the commencement of
this corporation shall be the day these
Articles are filed in accordance with |
law. and the termination thereof shall
be twenty-five (25) years thereafter.
with privilege of renewal and right of |
perpetual succession as now provided
by law.
ARTICLE v.
The affairs of this corporation shall |
be conducted by a board of not less
than three (3) nor more than fifteen
directors, by whom President, Vice
President. Secretary and Treasurer
shall be elected. The directors shall
be elected by the stockholders at the
sc