The border vidette., 1927-07-23
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 I
The name of this corporation, shall
be SINALOA-SONORA AUTOMOBILE
COMPANY.
ARTICLE III
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-
this corporation is as follows:
(a) To engage in the purchase, sale
and distribution of automobiles, motor
cars, motor trucks, tractors, aero
planes and other mechanically pro-
PEELED vehicles, as well as in the parts,
accessories, sundries and all other
equipment used in the operation there
of: 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 we'll as in the
sale and distribution as such agents,
factors, brokers and commission mer-
chants of the parts, accessories, sun
fdries 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
sion merchant for other persons, firms
or corporation in the purchase, sale
and distribution of wagons, buggies,
carriages, as well as nthe parts, sun
dries, accessories and equipment used
(b) To buy, sell. exchange, discount
and deal in bonds, debentures, con.
tracts, including conditional sales con-
tracts, and nall other kinds of nego-
| table instruments or banking paper.
as well as in the shares of stock of
all corporations, including the stock
of. 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
(d) To borrow and lend money for
its own account, or as the agent, bro
kcr or factor of other persons, firms
Or corporations, and to secure such
loans by pledge or mortgages; and to
IhypOthecate 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 all
things and acts not inconsistent with
law and these Articles of Incorpora-
tion in carrying out the business and
purpose of this corporation.
ARTICLE w
The amount @ fthe authorized CAPT.
tal stock of this corporation shall be
Forty Thousand ($4O,000.00) Dollars,
divided into Three Thousand $4,000
shares of preferred stock of the par
value of Ten ($10.OO) Dollars each,
and One Thousand $4,000 shares of
common stock of the par value of Ten
$4,000 Dollars each. Upon the dis.
solution of the corporation, >or the
sale thereof, said preferred shares Of
capital stock, up to the par value
thereof, shall be entitled to a 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
sinking fund consisting of twenty-five
81 Eer cent Of such earnings until
twenty-five (25) per cent of the par
value of said preferred capital stock
then issued and outstanding is ac.
cumulated, whereupOn the Board OF
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 set
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 capi-
tai stock until all the issued shares Of
preferred capital stock are fully paid
and retired, whereupon the owners
thereof shall surrender the certifi.
Gates of said shares of preferred CAPT.
tai stock to the corporation. The owr-
ers Or holders of said preferred capt
tai stock shall receive ten (1O) Ter
cent cumulative dividends on the par
value of said stock from the net earn.
ings of each fiscal year before AIRY
other disposition is made of said Let
earnings. The owners or holders of
said preferred capital stock shall have
no voting powers whatsoever
At such time as the Board of Direc-
tors may by resolution direct, the
value of said preferred and common
capital stock shall be paid into the
treasury Cf this corporation either in