The Coconino sun., 1926-02-12
CERTIFICATE OF AMENDMENT
TO ARTICLES OF INCORPORA- :
TION OF CALIFORNIA CARBON
COMPANY.

j LEX 11FIlAlE Of "A MEN DMEN1
TO ARTICLES OF INCORPORA.
TION OF CALIFORNIA CARBON
COMPANY.
| KNOW ALL MEN BY THESE
/ PRESENTS:
! That at the regular annual meet
ing of the stockholders of CALL
1 FORNIA CARBON COMPANY, d
corporation of the State of Arizona,
on Monday, the 4th dhy of January
1926, at which all of the stockholders
We're present in person, Article ~ of
the Articles of Incorporation of said
Company was by the affirmative vote
of all of the shares. of the stock of
said Company issued and outstanding
amended to read~as follows, to-wit:
s1V
The capital stock of this corpora
I tion shall be One Million Dollars ($1,-
000,000.00), divided into five thousand
| $4,000 shares of the par value of One
Hundred Dollars ($10000) each,
which shall be known as common
stock; and five thousand (5,000)
shares of the par value of One Hum
dred Dollars ($100.00) each, which
shall be known as preferred stock.
Such stock shall be paid for at such
times and in such manner as the
Board of Directors may designate.
| The holders of the preferred stock
/ shall be entitled to receive, when and
as declared from the surplus or net
profits of the corporation, yearly divi-
| dends at the rate of seven per cent
1870 per 'annum, payable annually,
when and as declared by the Board of
! Directors. The dividends on prefer
red stock to the extent of seven per
cent (7ed) per annum, and no more,
shall be cumulative and shall be pay
table before any dividend on common
stock shall be paid or set apart, so
that, If in any year dividends amount
ing to seven per cent (79o) shall not
have been paid on said preferred
stock, the deficiency shall be payable
before any dividend shall"be paid upon
or set apart for the common stock.
Whenever all cumulative dividends
, on the preferred stock for all previous
years shall have been declared and
have become payable, and the Conn
pany shall have paid such cumulative
dividends for previous years, the
board of Directors may declare divi-
dendS on the common stock payable
then or thereafter out Of the remain
ing surplus or net profits. After divi-
dends of seven per cent (79o) per an
mum shall have been paid on the COM
mon stock as provided, then and there
after the holders of both common
{ nv 11,1nfax.xsa1 ~faaf~ -HoI ~
equally in the dividends of the Com
pany until the holders of the pre-
ferred stock shall have received divi-
dends in the aggregate or total
amount of ten per cent 900; all
further or other surplus or net profits
(after the payment of ten per cent
(10Gd J on the preferred stock and ten
per cent (10Go) on the common stock
shall be payable and applicable as
dividends on the common stock Any
and all dividends on the preferred
stock other than,- or in addition to, the
above mentioned preferential seven
per cent $50 dividend, shall not be
cumulative. In event of any liquida-
ton or dissolution or winding up
(whether voluntary or Involuntary of
the corporation, the holders of the
preferred stock shall be entitled to be
paid in full both the par amount of
| their. shares and the unpaid cumula-
tive dividends accrued thereon, before
any amount shall be paid to the hold
ers of the common stock; and after
the payment to the holders of the
preferred stock of its par value and
the unpaid accrued cumulative divi-
dends thereon, the remaining assets
and dividends shall be divided and
paid to the holders OF the common
stock according to their respective
shares.
So long as the said preferential
cumulative dividends on said prefer
red stock shall be paid annually as
aforesaid the holders of the preferred
stock shall have no voting power on
any question except as below provided,
but should any preferential cumufa-
tive dividend or any preferred stock
be not paid when payable as above
provided, and remain so unpaid for
period of twelve (12) months, then
and SO long as such dividend or any
part thereof remains unpaid, the
holders of the preferred stock in re-
spect of which such dividend or part
thereof remains unpaid shall be en-
titled to the same voting powers
thereon as belong to the common
stock, but upon such preferential Gu
mulative dividend or unpaid part
thereof being paid the voting power
upon said preferred stock shall again
cease, and 50 on from time to time as
said preferential cumulative dividend
or part thereof may remain unpaid
after said twelve (12) months or may
be paid as aforesaid. Provided al
ways that upon any question relating
to the increase or decrease of prefer
red capital stock of the company, the
holders Of the preferred stock shall at
all times be entitled to the same vot-
ing powers as belong to the common
stock
! All or any portion Of the capital
stock may be issued in payment for
property, services or any other right
or thing of value for the uses and pur-
poses Of the corporation, and when so
issued shall become and be fully paid
| the same as though paid for in cash
at par; and the Board of Directors
shall be the sole judges of the value
of any property, right or thing ac-