The Coconino sun., 1926-01-15

time owned or controlled by the COM
pany.
To borrow money and to make, ac-
cept, endorse, guarantee, execute and
issue, bonds, notes, bills of exchange
and other obligations and to mort
gage, pledge and hypothecate any
stocks, bonds or other evidences of
indebtedness, and any other property
held by it, and to lend money, with
or without collateral security.
To buy, hold, sell and transfer
shares of its own capital stock.
To have one or more offices, to
carry on all or any of its operations
and business and to purchase or other
wise acquire, hold, own, mortgage,
sell, convey or otherwise dispose of
real and personal property of every
kind and description without limit or
restriction as to amount, both in and
outside the State of Delaware and in
any and all of the States, Territories,
Dependencies and Possessions of the
United States of America, the Dis
trict of Columbia, and in any and all
foreign countries and places.
In general, to carry on any other
business. in connection with the fore
going, whether manufacturing or
otherwise, and to do all and every
thing necessary, suitable or proper for
the accomD Dishment of any of the
purposes, the attainment of any of
the objects or furtherance Of any of
the powers hereinbefore set forth,
either alone or in association with
other corporations, firms or individ-
uals, and to do all acts and things in
cidental or appurtenant to or growing
out of or connected with the aforesaid
business, purposes, objects and pow
ers provided the same, be not incon-
Sistent with the laws under which this
corporation is organized, and to have
and to exercise all the powers con-
ferred by the laws of the State of
Delaware upon corporations formed
under the act hereinbefore referred TO
and the acts amendatory thereof and
supplemental thereto, the enumeration
of such powers and purposes as are
hereinbefore set forth being in fur
therance and not in limitation of the
powers given and authorized by the
laws of the State of Delaware.
To do all the acts, and exercise,
carry on and carry out all the powers,
business, objects and purposes herein
set forth in each and all of the States,
Territories, Dependencies and Posses
sions of the United States of Ameri-
ca, in the District of Columbia, and in
all foreign countries and places, and
to do any and all things herein set
forth as powers, business, objects and
purposes to the same extent and as
fully as a natural person might or
could do, and in any part of the
world, as principals, agents, contrac-
tors or otherwise.
A. The total number of shares of
stock and the classes hereof authorlz-
ed to be issued by this corporation
shall be as follows:
The total number of shares of COM
mon stock authorized to be issued by
this corporation is Twelve thousand
f12,0O0) shares, all of which said
common stock shall be without any
nominal or par value.
Said common stock without any
nominal or par value may be issued
by the corporation from time to time
for such consideration as may be
fixed from time to time by the Board
of Directors thereof.
The total authorized preferred
capital stock of this corporation shall
be One Million Isl, ,000,000) Dollars
divided into Ten Thousand 100000
shares of the. par value of One Hun
dred ($100) Dollars per share.
The preferred stock shall have no
voting power but the voting power OF
the corporation shall be exclusively
in the common stock.
At all elections of directors each
holder Of common stock shall be en-
titled to as many votes as shall equal
the number of his shares of said COM
mon stock multiplied by the number
of directors to be elected, and he may
cast all ofSsuch votes for single
director or may distribute them
among the number to be voted for, or
any two or more of them as he may
see fit.
The holders of the preferred stock
shall be entitled to receive, when and
as declared by the Board of Directors,
from the surplus or net profits of the
company, yearly dividends at the rate
of seven (79o) per centum and no
more The dividends on the preferred
stock shall be cumulative from date
Of original issue Of the respective
shares thereof and shall be payable
before any dividend on the common
stock shall be paid or set apart so
that at no time shall any dividend be
declared, set aside for or paid on the
common stock, unless at such time
dividends upon the preferred stock at
the rate of (7e6) seven per cent per
annum shall have been paid for all
previous years. Whenever all cumu
lative dividends on the preferred
stock for all previous years shall have
been declared and all dividends de-
clared and payable shall have been
paid, and the company shall have set
aside from its surplus or net profits a.
sum sufficient for any payment Of
dividends declared but not yet pay
able, the Board of Directors may de-
clare dividends ON the common stock.
payable then or thereafter, out of any
Of the remaining surplus or net
profits.
In the event OF any liquidation,