The border vidette., 1927-06-25
ARTICLES OF INCORPORATION
SINALOA-SONORA AUTOMOBILE
COMPANY

KNOW ALL MEN BY THESE PRES
ENTS: That we, the undersigned,
have this day associated ourselves to-
gether for the purpose OF forming a
corporation under and pursuant to the
laws -of the State of Arizona, and, for
that purpose, do hereby adopt Articles
of Incorporation as follows:
ARTICLE 1
The name of this corporation shall
be SINALOA-SONO AUTOMOBILE
! COMPANY.
ARTICLE II
The principal place of business of
| this corporation within the State Of
| Arizona shall be at the City of No
gales, Santa Cruz County, but a
branch office or offices may be estab-
lished and maintained at such other
places, including foreign countries, as
may be determined upon by the Board
of Directors, at any Of which places
| directors meetings may be held and
corporate business transacted.
ARTICLE III
The general nature of the busi-
ness proposed to be transacted by
| this corporation is as follows:
tai To engage in the purchase, sale
and distribution Of automobiles, motor
cars, motor trucks, tractors. aero
| planes and other mechanically pro-
PEELED vehicles, as we'll as in the parts,
accessories, sundries and all other
equipment used in the operation there
+, Cf: to act as agents, factors, brokers'
and commission merchants for other
| persons, firms or corporations in the
| sale and distribution of automobiles,
motor cars, motor trucks, tractors and
aerOplanes and all other mechanically
propelled vehicles, as well as in the
sale and distribution as such agents,
| factors, brokers and commission mer-
chants of the parts, accessories, sun
dries and all other equipment used in
the operation thereof; to engage in
| the purchase, sale, and distribution,
either for their own account, or as
the agent, factor, broker, or commits
son merchant for other persons, firms
or corporation in the purchase, sale
and distribution of wagons, buggies,
carriages, as well as nthe parts, sun
idrlcS, accessories and equipment used
in the operation thereof.
(b) Tu buy, sell, exchange, discount
land deal in bonds, debentures. con-
ttracts, including conditional sales con.
tracts, and nall other kinds of nego.
itiable instruments or banking" paper.
as well as in the shares of stock of
all corporations, including the stock
lof this corporation, and to pledge,
mortgage and hypothecate all of the
same.
/ (c) To purchase, sell, lease, mort
gage, hypothecate, and exchange real
and personal property of every kind
and nature and wherever situated.
(O To borrow and lend money for
it's own account, or as the agent. bro
kcr or factor of other persons, firms
o: corporations, and to secure such
loans by pledge or mortgages; and to
lhypothecate real and personal proper
ty of whatever kind and nature. and
all other assets owned by this corpo
ration and wherever situated
| (e) Generally, to do and perform ali
things and acts not inconsistent with
law and these Articles of Incorpora
ton in carrying out the business and
purpose Of this corporation.
ARTICLE w
The amount q fthe authorized capi
+al stock of this corporation shall be
Forty Thousand ($4O,O0O.OO) Dollars
divided into Three THOUSAND $4,000
shares of preferred stock of the PAL
value of Ten ($10.00) Dollars each
and One Thousand (1,O00) shares OF
common stock Of the par value of Ten
| $4,000 Dollars each. Upon the dis
solution of the corporation, CIR the
sale thereof, said preferred shares oil
capital stock, up to the par value
thereof, shall be entitled to prefer
ence in the distribution of the assets
OF this corporation over all other
shares of the capital stock of this cor
poration. There shall be set aside an
nually by the Board of Directors from
the net earnings of this corporation a
sinking fund consisting of twenty-five
'5) rer cent of such earnings until
twenty-five (25) per cent of the pal
value of said preferred capital stock
then issued and outstanding, is ac
cumulated, whereupon the Board O1
Directors shall pay pro rata to- the
owners then of record of said pre-
ferred capital stock such twenty-five
(25) per cent accumulation, and there
after the Board of Directors shall sci
aside, in like manner and amounts
and at like times, earnings of the cor
poraticn, and pay the amounts there
Of, when accumulated, to the owners
then of record of said preferred cap;
tai stock until all the issued shares @
} preferred capital stock are fully pait
J and retired, whereupon the owners
| thereof shall surrender the certifi
Gates of said shares of preferred CAPT
tai stock to the corporation. The owl;
ers Or holders of said preferred cap;
tai stock shall receive ten 1O Lei
cent cumulative dividends on the PIT
value of said stock from the net Harn
ings of each fiscal year before al'>
other disposition is made of said lie
earnings. The owners or holders o
said preferred capital stock shall have
no voting powers whatsoever.
At such time as the Board of Direc
tors may by resolution direct, tn,
value of sad preferred and common