Nogales international., 1928-01-06

sign, transfer, mortgage, pledge
or otherwise dispose OF shares OF
the capital stock, bonds, or other
evidences of indebtedness created
by other corporations and while
the holder of such stock to ex-
ercise all the rights and prlvll-
eyes of ownership, including the
rights to vote thereon, to Hhe
same extent as natural person
might or could do.
To apply for, purchase or other
wise acquire, hold, use, sell or In
anv manner dispose of and to
grant licenses or other rights in
respect of and in any manner
deal with patents, inventions, I'M
provements, processes, trade
marks trade-names, rights and Ii
censes secured under letters pat
ent, copyrights or otherwise,
To enter into, make and per-
form contracts Of every kind for
anv lawful purpose, without limit
nc to amount, with any person.
firm association or corporatlon'
town, city, county, state, territory
or government.
TO draw, make, accept, endorse
discount, execute and issue pro
| ,o;ssorv notes, drafts. bills OF o
change. warrants, debentures' ana
ether negotiable or trans1eraD
| Instruments.
{, To issue bonds, debentures
| ohl;oations or other evidences OF
Indebtedness and to secure the
same by mortgage, pledge oee'
| Of trust or otherwise.
To. purchase, hold and reissue
| the shares of it's capital stock.
To carry an any or all OF It's
operations and business and tc
promote it's objects within the
State of Nevada, or elsewhere
without restriction as to place OF
amount.
| To do any or all of the things
herein set forth to the same ex
tent as natural persons might OF
could do arad in any part of the
world, as principals, agents, con
tractors, trustees or otherwise
alone or in company with others
ARTICLE w
/ The maximum number of shares
| that the corporation is authorized
to have outstanding at any one
time is twenty-five hundred
| (250oy shares of cumulative pre-
ferred stock Of the par value OF
Ten Dollars ($10.00) per share
| ard twenty-five$ thousand Co.,
o0O) shares Of common stock OF
the par value of One Dollar
ts1.00) per share.
| The holders, of the preferred
stock shall be entitled to cumul'
ative dividends thereon at the rate
of seven (79o) percent for each
and every fiscal year of the Com
pany, payable at the discretion of
the board of directors out of any
surplus or net profits of the Com
pany on such dates as may b,
/, fixed by the board of directors
and payable before any dividend
is paid upon the common stock.
Should the net earnings in any
one year be insufficient to pay
said preferred dividend in full, in
the judgment of the board of
directors such portion of said div
idend as may be possible may be
paid therefrom, and any unpaid
dividend shall be a charge against
the net earnings of the company
and shall be paid in full out of
any available profits. If after
paying said dividend of sever
(7%a) percent upon said preferred
stock for any year, together with
any or all arrearages thereon, any
further available profit shall re-
main, the directors of the COM
pany may, at their discretion, out
of said remaining profits, declare
and pay a dividend upon the out
standing common stock of the
company.
Said preferred stock is subject
to redemption at the option of
the directors at any time after
sixty (6O) days notice upon pay
ments of Ten and 50/100 ($10.-
SOY Dollars per share, and any
accumulated dividends.
In the event of dissolution or
, liquidation of the corporation, the
holders OF the preferred stock