The Coconino sun., 1927-11-11
ARTICLE VII.
The amount of stock each party has
Total subscribed .3,100 $4,000
ARTICLE VIII.
Amount Of Authorized Stock

lied and which may be issued by this
corporation is 175,000 Of said shares
so authorized $4,000 shares shall be
preferred stock without nominal or
par value, to be designated aid known
as Class 81" stock and 125,000 shares
| shall be common stock without nomi-
nal or par value, to be known and
designated as Glass '.B' stock.
/ The 300 shares of Glass "A. stock
and the $1,000 shares of Class 'B'
stock subscribed for by the parties
hereto as in Article VII hereof set
forth shall be forthwith issued to said
subscribers, as fully paid, on consider
alton of the transfer to this corpora
ton, eoncurrently with the filing of
these Articles of Incorporation, of the
landing field permits, property, rights,
privileges, statistical data and surveys,
gathered, possessed and owned by Ma
tional Park Syndicate Ca syndicate or
ganized under agreement dated as of
the 30th day of March, 1920, together
with the sum of $23, 10000 cash to be
paid to this corporation by said Ma
tional Park Syndicate.
Any and all such shares, both Glass
"A" and Glass "B" so issued as here
inbefore provided, the full considera-
ton for which shall have been trans
ferred and delivered to the corpora
ton as aforesaid, shah be deemed
fully paid stock and not liable to any
further call or assessment, and the
holder or holders of such shares shall
not be liable for further payment
thereon.
Without action by the stockholders,
all or any part Of the remaining 49,
900 shares of said Class "a" stock,
andlor all or any part of the remain
ing 97,100 shares of said Glass ''B"
stock may be issued and disposed of
from time to time in such amounts,
for such considerations and for such
purposes as the Board of Directors
may from time to time determine
The stock of this corporation, the
full consideration for which shall have
been paid, shall be worcestershire and
these Articles shall not be amended
so as to render assessable any of such
stock without the unanimous consent
of the holders Of the class of stock
sought to be made assessable.
The holders of said Class "a" stock
shall be entitled to receive out of the
surplus net profits arising from the
business of the corporation during any
fiscal year and when and as declared
by the Board of Directors, preferen-
tial dividends at the rate of $0.75 per
share per annum payable on such
dates as may be determined by the
Board of Directors, before any divi-
dends shall be payable, paid or set
apart during such year on the Glass
"B" stock.
After the payment Of any such
preferential dividends Of $075 per
share per annum for any such fiscal
year to the holders Of the outstanding
Glass "a" stock, the holders of the
outstanding Class "B' stock shall be
entitled to receive during the same
fiscal year out of any remaining sur
plus net profits when and as declared,
dividends at the rate of One Dollar
'($100) per share per annum payable
on such dates as may be determined
by the Board of Directors.
After the payment, for any fiscal
year, of said preferential dividend of
$0.75 per share per annum to the
holders of the outstanding Glass "A'
stock and said dividend of One Dollar
($1.00) per share per annum to the
holders of the outstanding Class "B'
stock, any further amounts declared
in dividends for that year shall be d.
vided pro-rata, share and share alike,
among all the holders of Class "a"
and Glass "B" stock, in accordance
with the number of shares held by
each, without reference to the Glass to
which Sueh shares belong
Said Class "a" stock shall, in the
event of the dissolution, liquidation or
winding up Of the corporation, wheth-
er voluntary or involuntary, be paid
the sum of $3.50 per share, together
with the full amount of ~any declared
and unpaid dividends thereon before
any sum shall be paid or distributed,
or any assets applied upon, the Class
"B" stock; but in the event of such
dissolution, liquidation or winding up,
the said Class "A" stock shall not be
entitled to receive out of the surplus
earnings or profits of the corporation
any excess of said declared dividends
over the rate Of $0.75 per share per
annum, nor shall the said Glass "A"
stock be entitled to share in any dis
tribution of the assets of the corpora
ton if there shall have been paid
thereon the full amount of $3.50 per
share, together with all declared and
unpaid dividends thereon.
The holders of said Class A" stock
shall not be entitled to subscribe for
or receive any share or shares Of any
additional or increased stock of the
corporation which may at any time
be issued, nor to take any pro-rata
share in common with the Class "B"
stockholders, or otherwise of any pres
ent or future stock in the treasury of
the corporation.
The corporation may redeem said
shares of Glass "A" stock or any part
thereof, on any dividend payment
date, by paying in cash therefor the
sum of $3.50 per share and the divi-
dends declared and unpaid thereon, by
giving written notice of such redemp-
ton deposited in the United States
mail duly stamped and addressed to
the holders of record of said Class
"a" shares to be redeemed, as shown
upon the books of the corporation, at