Nogales international., 1931-06-27
LEGAL NOTICE
AMENDMENT TO ARTICLES OF
INCORPORATION OF SINALOA-
SONORA AUTOMOBILE COMP
ANY

ANY
KNOW ALL MEN BY THESE PRE-
SENTS:
That at a special meeting of the
stockholders Of "SINALOA-SON
ORA AUTOMOBILE COMPANY a
corporation, held at the office of
the company in La Vile Gle Paris
Building, Nogales, Santa Cruz Coun-
ty, Arizona, at II o'clock A. M. on
Friday, the 5th day of June, 1881,
each and every stockholder of the
corporation having in writing waiv-
ed notice of the me and place of
the holding of said meeting and
having consented to the amend
ment of the Articles of Incorpora-
ton hereinafter referred to, and at
which the owners and holders of a
majority of the issued and out
standing stock of the corporation
were present, by unanimous con-
sent of each and every stockholder
as aforesaid and by resolution duly
passed and adopted by the affir-
NATIVE vote of a majority of the is
sued and outstanding shares OF
stock of said corporation, Articles
w and VIII of the Articles of In
corporation of said corporation were
amended so that said Articles shall
read as folliWs:
ARTICLE w
"The amount of the author
lied capital stock Of this COR
poration shall be Five Humid
red Thousand ($500,000.0O)
Dollars, divided into ten thous-
and 100000 shares of preferr-
ed stock of the par value of
Ten ($1O.OO) Dollars each, and
forty thousand 100000 shares
of common stock of the par va
lue of Ten ($1000) Dollars
each. Upon the dissolution of
the corporation, or the sale
thereof, said preferred shares
of capital stock, up to the par
value thereof, shall be entitled
to a preference in the distribu-
ton of the assets of this cor
poration over all other shares
of the capital stock of this cor
poration. There shall be set
aside annually by the Board OF
Directors from the net earn
ings of this corporation sink
ing fund consisting of twenty
five (25) per cent of such earn
ings until twenty-five (25) per
cent of the par value of said
preferred capital stock then is
sued and outstanding is accu-
mulated, whereupon the Board
of Directors shall pay pro rata
to the owners then of record
of said preferred capital stock
such twenty-five (25) per cent
accumulation, and thereafter
the Board of Directors shall set
aside, in like manner and a.
mounts, and at like times,
earnings Of the corporation, and
pay the amounts thereof, when
accumulated, to the owners
then of record of said preferred
capital stock until all the is
sued shares of preferred capital
stock are fully paid and retir-
ed. whereupon the owners
thereof shall surrender the
certificates of said shares of
preferred capital stock to the
corporation. The owners or
holders of said preferred capi
tai stock shall receive ten (10)
per cent cumulative dividends
on the par value of said stock
from the net earnings Of each
fiscal year before any other
disposition is made of said net
earnings. The owners or hold
ers of said preferred capital
stock shall have no voting pow
ers whatsoever.
"At such time as the Board
of Directors may by resolution
direct, the value of said pre-
ferred and common capital
stock shall be paid into the
treasury of this corporation
either in cash, or by the sale
and transfer to it of real or
personal property, contracts,
services, or any other valuable
right or thing for the use and
purpose of said corporation, or
for satisfying indebtedness, in
payment of which, shares OF
the capital stock, either pre-
ferred or common, Of said ccr-
poration may be issued, and
the capital stock so issued shall
thereupon and thereby become
and be fully paid up and non
assessable forever, and, in the
absence of actual fraud in the
transaction, the Judgment OF
the Board Of Directors as to the
value OF the property so pur-
chased shall be conclusive.
ARTICLE VIII.
'The highest amount of in
debtedness or liability, direct