The Winslow mail., 1926-03-05
LEGAL ADVERTISEMENTS

such property, or to facilitate the
disposal thereof.
To advance and lend money to
builders, tenants and others who
may be willing to build on or i'm
prove any land or buildings in
which the corporation is interested,
and generally to advance money to
such persons and on such terms as
may be arranged
(b) To subscribe or cause to be
subscribed for, and to purchase,
and otherwise acquire, hold, sell,
assign, transfer, mortgage, pledge,
exchange, distribute and otherwise
dispose of, either for investment
or otherwise, the whole or any
part Of the shares of the capital
stock, bonds, coupons, mortgages,
deeds of trust, debentures, securi-
ties, obligations, evidences of in
debtedness, notes, goodwill, rights,
assets and property of any and
every kind, or any part thereof, of
any other corporation or corpora
tions, association or associations,
now or hereafter existing, and
whether created by the laws of the
State of Arizona, or of any other
state, territory or country, so far
as and to the extent that the same
may be permissible by the laws re-
lating to business corporations, and
to operate, manage and control
such properties, or any of them,
either in the name of such cOrpor-
alton, or corporations, or in the
name Of this corporation, and while
owners of any of said shares OF
capital stock to exercise all the
rights, powers and privileges of
ownership of every kind and de-
scription, including the right to
vote thereon, with power to desig-
nate some person or persons for
that purpose from time to time to
the same extent as natural persons
might Or could do.
And to do any and all other acts
or things for the preservation, pro
lection, Improvement or enhance
ment of the value Of any such
stock, bonds or other obligations,
or to do any acts or things designed
for any such purpose.
(c) The corporation may use and
apply it's surplus earnings or ac-
cumulated profits to the purchase
or acquisition of property and to
the purchase or acquisition of it's
own capital stock from time to
time, and to such extent and in
such manner, and upon such terms
as its Board of Directors shall de-
termine; and neither such property
nor the capital stock so purchased
and acquired, nor any of it's capi-
tai stock taken in payment or sat
isfaction of any debt due to the cor
poration shall be regarded as pro-
fits for the purpose of declaration
or payment of dividends, unless
otherwise directed by the Board of
Directors.
(d) To borrow and to loan money
and to secure the payments there
of by mortgage, deed of trust, or
otherwise, upon any of it's property
whether realty or personally, with
power to invest and reinvest the
proceeds derived from the property
and the business of the corpora
tiOn.
(e) To have and to exercise all
other powers necessary to do all
things proper and requisite in ad-
dition to those therein set forth for
the purpose of carrying into effect
the objects and purposes contem-
plated hereby, and to do any and
all things for the advantage, ad-
vancement, profit and increase of
the emoluments of this corporation,
intending hereby for this corpora
tion as broad power as can be CIV
en- it without in any manner con-
STRUNG the enumerations of the OBJ
jects heretofore set forth as limi-
tations, and intending hereby fur
thermore to have the liability of
the stockholders of this corpora
ton determined by the laws of the
State of Arizona, notwithstanding
the laws of any other state to the
contrary.
ARTICLE III.
Term
The term of existence of said
corporation shall be twenty-five
years.
ARTICLE Nv.
The private property of the
stockholders of this corporation
shall not be subject to the pay
! ment of the corporate debts in any
amount or to any extent whatever.
ARTICLE v.
The capital stock of this corpor-
alton shall consist of One Hundred
Fifty Thousand Seven Hundred
Fifty (150,750) shares of stock, di-
vided into seven hundred fifty (750)
shares of preferred capital stock
OF the par value of $4,000 per
share, and One Hundred Fifty
Thousand (15O,OOO) shares of COM
mon stock of the par value of ten
cents per share.
| Said preferred stock shall be is
sued as and when the Board of Di-
rectors shall determine and shall
entitle the holder thereof to receive
out of the net earnings, and the
corporation shall be bound to pay
a semi-annual cumulative dividend
at the rate of seven per cent (7%o)
per annum, payable before any div
idend shall be set apart or paid on
the common stock and said prefer
| rod Stockholders shall NOT share in