Douglas daily dispatch., 1927-08-30
LEGAL NOTICES.


poration 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, pow
ers and privileges OF ownership of
every kind and description, including
the right to vote thereon, with power
to designate some person or persons
for the purpose from time to time, and
to the same extent as natural persons
might or could DO.
() Subject only to the limitation
hereinafter expressed, to mortgage,
pledge, hypotheSate or otherwise en-
cumber any and all property of the
corporation whether real or personal,
and wheresoever the same may be
situated.
W To guarantee the payment of
dividends or interest and of the par
amount or principal on any shares of
stock, debentures, bonds, promissory
notes. or osher securities issued by this
corporation, or by any other person,
firm or corporation, or on any con-
tract or obliagtion of any corporation,
firm or individual whatever, which may
be proper or necessary for the business
of this corporation.
(h) To lend and advance money or
give credit to persons, firms or cor
porations and on such terms as may
seem expedient, and in particular to
customers and others having dealings
with the company and to give guar
antee or become surety for any such
persons. firms or corporations.
ID To issue bonds, debentures or
obligations of this corporation from
time to time for any of the objects or
purposes of the corporation and sub
iect to the limitations hereinafter ex-
pressed, to secure the same by mort
gage, pledge, deed of trust or other
wise.
Cd To transact the business afore-
said, or any branch of such business
and to promote or conduct any of the
objects or purposes aforesaid, and to
exercise all of the powers hereinbefore
set forth or any of them, both without
as well as within the State of Arizona
and in any part of the world, and to
have one or more offices outside of
said State.
! (k) In addition to the business,
objects and purposes hereinbefore set
forth, to do anything necessary, suit
able, useful, eXpedient or convenient
for the carrying on of any of said
business, or for the accomplishment
of any object or purpose, or the eXer-
else of any power hereinbefore set
forth, or which at any time shall ap-
pear to be beneficial to the corpora
ton in connection Herewith; and to
do any and all of the things above set
forth, either alone or jointly with the
others, and either as principal for its
own account or as the agent of others
and to the same extent and as fully
as a natural person might or could do
in the State of Arizona, or elsewhere.
The purposes and objects expressed
in the several clauses hereinbefore set
forth shall be construed both as pur-
poses and objects and also as powers,
and the statements contained in each
clause shall be in no wise limited or
restricted by reference to or inference
from the terms of any other clause.
ARTICLE III.
The amount of the total authorized
capital stock of the corporation, is
Eighteen Hundred (180O shares of
common capital stock, without NOM
inal or par value, and One Hundred
Eighty Thousand and no-100 $780,
100000 Dollars, divided into seven per
cent (78S) preferred shares of the par
value of One Hundred and no-100
($100.00) Dollars, each.
Said stock may be issued when and
from time to time as the Board of Di-
rectors shall determine, and may be
issued, sold or otherwise disposed of
upon such terms and conditions and
for such consideration or conSidera-
tions as the Board of Directors shall,
by resolution, from time to time pro-
vide.
The holders of the preferred stock
shall be entitled to receive when and
as declared out of the surplus or net
profits of the corporation, dividends
at the rate of seven per cent (7@6)
per annum and no more, from the
respective dates when it shall be is
sued, payable annually or oftener, at
such times as may be fixed by the
Board of Directors.
The dividends on the preferred stock
shall be non-cumulative until July
l, 1881, and cumulative thereafter and
shall be payable before any dividends
on the common stock shall be paid
or set apart for payment.
Whenever, during any calendar year
prior. to the first day of July, 1881,
dividends to the amount of seven per
cent (73e) have been declared and
shall have been paid, or set apart for
payment, the Board of Directors may
declare dividends on the common stock
payable then or thereafter, out of any
remaining surplus or net profits of the
corporation.
All surplus or net profits remaining
after the aforesaid seven per cent
(7fo) non cumulative dividends have
been paid to, or set apart, for the hold
ers of the preferred Stock during any
of the calendar years prior to the
first day of July, 1881, shall be avail
able for dividends on the common
stock or for such other corporate pur-
poses as the Board of Directors may
determine.
And after July 1, 1881, if, in any
year dividends amounting to seven per
cent (796), of the par value thereof
shall not have been paid thereon the
deficiency shall be paid, or set apart
for payment, before any dividend shall