The Coconino sun., 1925-12-11


power to exercise the right to eminent
domain in any,. manner which may
now or hereafter be allowed or pro-
yided by law, in the acquisition of
any property or rights required by
the corporation for the purposes of
its business.
V Third: The place where the princi-
pal business of the corporation is to
be transacted, is the City of Los An
.geles, County Of Los Angeles, State
of California.
Fourth: The term for which the
corporation is to exist is fifty (50)
years from and after the date Of its
incorporation.
Fifth: The number of the Board of
Directors of the corporation shall be
thirteen (13). The Board of Direc-
tors for the first year shall consist
Of nine members, and the names and
residences Of the Directors who are
appointed for the first year, and. to
serve until the election Of such Direc-
tors and their qualifications, are as
follows, to-wit:
Names Whose Residence Is At
S. M. Kennedy, Granada Ave, AL
halnbra, California.
O. p Shoonmaker, 1157A Vermont
Ave, Los Angeles, Calf.
j. A. Lighthipe, 1701 Arlington
Ave, Los Angeles, Calf.
E. w Sax, 1889 w. Fifth St., Los
Angeles, Calf
4. a. Maxwell, 1248 Grown Hill
Ave. Los Angeles. Calf.
VIM. Dieterlc, 237 Pasadena Ave,
Los Angeles. Calf.
r.. W. Bafour, Pomona, California.
A. e. Morphy, 101 Paloma Ave,
Ocean Park, Calf.
John Otto, Alvarado Hotel, Los An
geles, Calf.
Sixth: The. amount Of the capital
stock of the corporation is Two Hun
dred and Fifty Million Dollars (s250,-
600 000), divided into two million five
hundred thousand (2,500,000) shares
of the par value of One Hundred Dol
lars t$100) each; of such total capi-
tai stock forty thousand 100000
shares, amounting to Four Million
Dollars lS4.000,000) par value, are
and shall be Original Preferred stock;
one million two hundred and ten thou
sand (1,210,000) of such shares,
amounting to One Hundred and
Twenty One Million Dollars ($121,-
000,000) par value, are and shall be
Preferred stock; and one million two
hundred and fifty thousand (1,250,-
000) Of such shares, amounting to
One Hundred and Twenty Five Mil
lion Dollars ($125 ,000,000) par value,
are and shall be Common stock to
which no preference is granted.
The holders of the Original Pre-
ferred stock shall be entitled to re-
-ceive, when and as declared from the
surplus or net profits of the corpora
ton, yearly dividends at the rate Of.
five per centum (596) per annum.
The dividends on the Original Prefer
red stock shall be cumulative, and
shall be payable before any diyidends
on tho Preferred stock, or on tie Com
mon stock, shall be paid or set apart,
so that if in any year dividends
amounting to five per centum (5R)
shall not have been paid thereon, the
deficiency shall be payable before any
dividends shall be paid upon, or set
apart for, the Preferred stock or the
Common stock. The Preferred stock
shall be divided into three classes, as
follows: Series A, formerly designat-
ed simply "Preferred'' stock, six hun
.dred Thousand (600,OOo) shares, (of
which seventy one thousand eighty
four (71,0S41 shares have heretofore
been issued as fully paid); Series B,
four hundred thousand (400,000)
shares; Series G, two hundred and ten
thousand (210,000) shares. When-
ever all cumulative dividends on the
Original Preferred stock for all pre-
yious years shall have been paid, the
holders of the Preferred stock shall
be entitled to receive, when and as
declared from the remaining surplus
or net profits of the corporation, aft
err the payment of the cumulative divi-
dends upon the Original Preferred
stock, yearly dividends at the follow
ing rates: holders Of Preferred stock,
Series A, seven per <entum (7ao) and
no more; holders of Preferred stock,
Series B, six per centu1n (6ao) and no
more; holders of Preferred stock, Ser
les C, five per centum (5ao) and no
more. Except as to dividend rate, no
distinction or preference shall exist
among said three Series of Preferred
stock or the owners thereof. The divi-
dends on the Preferred stock shall
also be cumulative, and shall be pay
able before any dividends on the
Common stock shall be paid or set
apart, so that if in any year dividends
amounting to seven per centum (7eo)
ION Preferred stock, Series A, six per
centum (6eo) on Preferred stock,
Series B. and five ner eenttin1 f52ol
on Preferred stock, Series G, shall not
have been paid, the deficiency shall
be payable before any dividends shall
be paid upon, or set apart for the
Cornnaoa stock. The holders of the
Original Preferred stock shall be en-
titled to participate in any distribu-