The border vidette., 1926-07-24
AMENDMENT TO
ARTICLES or INCORPORATION
or
MExlCO-ARIZONA TRADING COMPANY

sENTS: That at a special meeting OF
the stockholders of the Mexico-Arizona
Trading Company, corporation or
gained and existing under the laws OF
the State Of Arizona, duly called and
held at the offices of said company in
the La Vile de Paris Building, In the
city OF NOgales. Arizona, on the 9th
day OF July, 1926, Article Nv OF the
Articles OF Incorporation OF said COM
paDy was by the affirmative vote of all
the stock holders OF the issued and out
standing shares OF stock of the COM
pany, amended TO read as follows, to wit.
"ARTICLE Nv
The amount of the authorized capital
stock of this corporation shall be One
Million Dollars ($l .O00, 900 COY, divided
into five thousand 10000 shares of pre-
ferred stock of the par value of One
Hundred Dollars $500 COY each, and
five thousand $4,000 shares of common
stock OF the par value OF One Hundred
Dollars $500 00) each. Said shares OF
preferred stock to be divided into one
thousand 10000 shares to be known and
desrg nated as frat preferred stock and
four thousand 4000) shares to be known
and designated as second preferred stock
The holders Of the first preferred
stock shall be entitled to cumulative
dividends out of the net earnings of the
company before dividends are paid
upon any other shares to the extent OF
eight per cent for each AMI every fiscal
year thereof upon the par value there
of. Whenever all cumulative divid-
ends on the first preferred stock for all
previous years shall have been declared
and paid, the holders OF the second
preferred stock shall be entitled to cum.
ulative dividends ont OF the remaining
surplus or ret profits OF the company,
before any dividends are paid upon the
common stock OF the company, to the
extent of eight per cent for each and
every fiscal year thereof upon the par
value thereof. Whenever all cumula-
tive dividends on the first preferred
stock for al previous years shall have
been declared and paid and all cumula-
tive dividends on the second preferred
stock shall have been declared and
paid, as hereinabove provided, then,
and before any dividends are paid upon
the common stock the holders of the
first preferred stock ehall be entitled
TO additional dividends OF ten per cent
for each and every fiscal year, of the
remaining surplus or net profits of the
company. which said dividends, how
ever. shall in no event ever exceed ten
per cent of the par value of said pre-
ferred stock. Whenever all cumula-
tive dividends of the preferred stock,
both fret preferred and second prefer
red, for all previous years shall have
been declared and sEall have been paid
and the additional dividend upon said
first pie erred stock, as hereinabOv0
provided, shall have been declared and
shall have been paid. the board OF
directors may declare dividends on the
common stock payable then or there.
after out OF any remaiEing surplus or
net profits.
The holders of preferred stock shall
have no voting powers whatsoever, nor
shall .hey be entitled to notice of any
meeting of stockholders of the COM
pany. Said first preferred stock shall
| be subject to redemption at one hum
dred fifteen (sll5O0) dollars per share
and accumulated dividends thereon at
any time during the first month of the
fiscal year of the company OF any year
after the issue thereof, in such manner
as the board of directors shall deter
mine.
In the event OF any liquidation, dis
solution or winding up, whether volun.
tary or involuntary. of the corporation,
the holders OF the first preferred stock
shall share equally, and be entitled to
be paid in full both the par amount OF
their shares and the unpaid dividends
accrued thereon before any amount
! shall be paid to the holders OF the SEQ
ond preferred stock, and after the pay
ment in full of all unpaid dividends
accrued upon and the par value of the
6rst preferred stock then the holders
OF the second preferred stock shall
share equally and be entitled to be paid
| in full both the par amount of their
shares and the unpaid dividends Rc-
crued thereon before any amount shall
be paid to the holders of the common
stock. and after the payment in the
order aforesaid to the holders OF all the
preferred stock of its par value and OF
all the unpaid declared or accrued divi-
dends thereon, the remaining assets
and funds shall be divided and paid to
the holders OF the common stock equal
| ~ and pro rata according to their re.
spective shares.
At such times as the Board of Direc-
| tors may by resolution direct, said pre-
ferred and common capital stock may
be paid into this corporation either in
cash or by the sale and transfer to it OF
real or personal property. contracts,
services or any other valuable right or
thing for the use and purposes of said
corporation, in payment of which shares
of the capital stock, either preferred or
common, of said corporation may be
issued, and the capital stock so issued
shall thereupon and thereby become
and be fully paid and worcestershire
forever, and in the absence of actual
fraud in the transaction the Judgment
OF the directors as to the value of the
property purchased shall be conclu-
sive"
In Witness Whereof we have hereto
j affixed our signatures and the seal OF
said corporation this 10th dey OF July,
1926
! ROBERT c. HOWELL,
| President of Mexico Arizona
Trading Company.
Attest:
r. w. ASHBY,
Assistant Secretary.