The Coconino sun., 1925-01-23


elgn countries, patents, patent-rights,
licenses, privileges, inventions, fran
chises, improvements, processes, copy
rights, trademarks, and trade names
relating to or useful in connection
with the business of this corporation
And this corporation shall have
power to buy, own, acquire, hold, sell
and dispose of its own capital stock,
provided it shall not use its funds or
property for the purchase of it's own
shares of capital stock when such use
would cause any impairment of it's
capital, and provided further, that
shares of its own capital stock belong
ing to it shall not be voted upon di-
rectly or indirectly, and to issue its
notes, bonds, debentures or obligations
from time to time for any of the OBJ
lects or purposes of the corporation,
and to secure same by mortgage,
pledge, deed of trust or otherwise.
To conduct its business in all its
branches and to have one or more
places of business and business offices
and, without restriction, or limit as to
amount, to contract, buy, acquire,
operate, hold, improve, sell, lease, let
mortgage, convey and otherwise deal
IN and dispose Of factories, stores.
company's buildings, machinery and
such real and personal property in the
United States, its territories, districts
and colonies and possessions, and in
any foreign countries, without restric-
ton, which shall from time to time
be found necessary, eXpedient or con-
venlent for the purpose of the cor
poration's business.
In general, to carry on any other
business in connection with the fore
gong, whether manufacturing or
otherwise, and to have and exercise all
the powers conferred by the laws of
Delaware upon corporations formed
under the act hereinafter referred to
and to do any and all the things here
lnbefore set forth, to the same extent
as natural persons might, or could, do.
1t is hereby expressly provided that
the foregoing enumeration of specific
powers shall not be held to limit or
| restrict in any manner the powers of
this corporation, but said clauses shall
be construed literally, both as to OBJ
jects and powers.
Article w
AUTHORIZED CAPITAL STOCK:
The total authorized capital stock
OF this corporation is as follows: 10O,-
200 shares of first preferred stock of
the par value of $100 per share.
amounting in the aggregate to S10,-
| OO0,OO0; 100000 shares of classified
common stock of the par value of S1OC
per share, amounting in the aggregate
to S10,000,000; 10000 shares of class
A preferred stock of the par value of
500 per share, amounting in the ag-
gregate to S15,000,000 and 100000
shares of unclassified common stock
without nominal or par value. The
amount of capital stock with which
this corporation will commence bust
ness is Six Thousand ($600O) Dol
lars.
Article V
FIRST PREFERRED STOCK:
(1) The first preferred stock shall
not be assessabIe for any purpose
whatever. The private property o.
the holders of said first preferred
stock shall not be liable for the obi
cations or debts of the corporation ir
any amount or to any extent what
ever. Said first preferred stock shall
be entitled from the date of its issue
/ to cumulative dividends at the rate of
seven per cent (79o) per annum, pay
able quarterly on last day of March
June, September and December in
each year. IF the corporation shall
fail to pay such dividends quarterly
on all the outstanding first preferred
stock, all accumulated dividends there
on shall be fully paid before any divi-
dends shall be set apart, declared OF
paid upon the class A preferred stock,
unclassified common stock, or an,
classified Common stock; and the
first preferred stock shall be entitled.
to no further dividends. The first pre-
ferred stock shall be redeemable in
whole or in part ON sixty (60) days
notice by mail at One Hundred Five
Dollars ($105) per share and an
amount equal to accumulated divi-
dends to the date of redemption, al
though not earned or declared; when
any redemption is made Of part of
the first preferred stock outstanding
| it shall be in such manner and by such
method as the Board of Directors
shall determine. Upon any sale of all
the assets of the corporation, or upon
any liquidation of the corporation, in
whole or in part, whether voluntary
or involuntary, except upon the dis
continuance of branch in accordance
with the provisions of Articles XI and
XIII, the holders of the first preferred
stock shall be entitled to be paid one
hundred five per cent (105@o) of the
par value thereof, and an amount
equal to the accumulated dividends
to the date of payment, although not
earned or declared, before any pay
ments are made to the holders of any
classified common stock, class A pre-
ferred stock, or unclassified common
stock; and the holders of the first pre-
ferred stock shall be entitled to no
further payment. If the earnings of
the corporation for any quarter shall
be insufficient to pay the dividends
for that quarter on the first preferred
stock, such dividends may be paid out
Of earned surplus.
(2) Subject to the provisions Of
law and of this paragraph, the first
preferred stock shall be issued at such
prices, and for such considerations, at
such times, in such manner, and in
such amounts as the Board of Direc-
tors shall determine. Two Million
Two Hundred and Twenty Six Thou
sand Three Hundred Dollars (s2,226,-