The Coconino sun., 1925-01-16

"
receive, collect and dispose of interest,
dividends and income upon and from
any and all notes, bonds, mortgages,
trust deeds, debentures, shares of
capital stock, securities, obligations,
contracts, evidences of Indebtedness
and other personal property held or
owned by it and to- exercise in respect
to all such notes, bonds, mortgages,
trust deeds, debentures, shares of
capital stock, obligations, contracts,
evidences of indebtedness and other
property, all the rights, powers and
privileges that are usually accorded to
individual owners OF like property, in
Guiding the right to vote upon the
shares of capital stock SO held by it.
And this corporation shall also have
power to purchase, acquire, use, rent,
lease, own, hold, improve, operate,
hypothecate, mortgage, sell or con-
vey, and otherwise deal in and dispose
Of property Of all kinds, both real and
personal, inclusive Of Letters Patent
of the United States (and) (or) for
eign 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 its own
shares of capital stock when such use
would cause any impairment of its
capital, and provided further, that
shares of it's own capital stock belong
ing to it shall not be voted upon d.
rectly or Indirectly, and to issue its
notes, bonds, debentures or obligations
from time to time for any of the OBJ
sects or purposes of the corporation,
and to secure same by mortgage,
pledge, deed Of trust or otherwise.
To conduct it's business in all it's
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
going, 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
inbefore set forth, to the same extent
rs 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 "
AUTHORIZED CAPITAL STOCK:
The total authorized capital stock
of this corporation is as follows: 1OO,-
600 shares of first preferred stock of
e,
amounting in the aggregate to S10.-
100000; 100000 shares of classified
common stock of the par value of 500
per share, amounting in the aggregate
to S10,000,000; 10000 shares of class
A preferred stock of the par value of
Sl00 per share, amounting in the ag-
gregate to $15,000,000 and 100000
shares of unclassified common stock
without nominal or par value. The
amount of capital stock with which
this corporation will commence busi-
ness is Six Thousand ($6000) Dol
lars.
Article V
FIRST PREFERRED STOCK:
Cd The first preferred stock shall
rot be assessable for any purpose
whatever. The private property OF
the holders of said first preferred
stock shall not be liable for the obli-
cations or debts of the corporation in
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 or
paid upon the class A preferred stock,
unclassified common stock, or any
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 a 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