THE Buildings Investment INCORPORATED CAPITAL, $500,000, Divided into 3,000 Stares of $100 each. OFFICE-PUEBLO, COLORADO. - CHIEFTAIN STEAM PRINT, PBLO BUILDING AHE INfESTMENT CO. INCORPORATED UNDER IMF LAWS OF THE STATE OF COLORADO. OFFICERS OF THE COMPANY: ALFRED W. GEIST, ESQ., President. MICHAEL H. FITCH, ESQ., Vice- President. MAHLON D. THATCHER, ESQ., Treasurer. FERD BARNDOLLAR, ESQ., Secretary. DIRECTORS. Pueblo, Colo. MAHLON D. THATCHER, ESQ. ALFRED \V. GEIST, ESQ. O. H. P. BAXTER, ESQ. CHARLES E CAST, ESQ. MICHAEL H. FITCH, ESQ. WILLIAM H. HYDE, ESQ. HIRAM O. ALDEN, SK. FERD BARNDOLLAR, ESQ GIDEON H. HARD, ESQ. IRVING W. STANTON, ESQ HENRY C. THATCHER, ESQ. GEORGE L L GANN, ESQ Leadville, Colo. CHARLES S. THOMAS, ESQ. EXECUTIVE COMMITTEE: ALFRED W GEIST, ESQ. O. H. P. BAXTER, ESQ. MICHAEL H. FITCH. ESQ MAHLON D THATCHER, ESQ. CHARLES E. CAST, ESQ PROSPECTUS. The organization of the Pueblo Building and Investment Company will mark a new epoch in the history of the sub stantial growth and permanent prosperity of a city which is already recognized as destined to play no unimportant part in the development of the material resources of the Centennial State. Many untoward circumstances not the least among which was the unfortunate and protracted railroad litigation which closed against Pueblo for more than a year the rocky gateway through the Grand Canon to the treasure vaults in the mountains beyond temporarily checked the onward march of this city. But happily all the artificial barriers to our success have been removed, and to-day Pueblo is advancing with a certain and steady tread to the proud position to which her unrivaled natural advantages entitle her. As a leading com mercial mart she stands to-day only second to Denver, and before mid-summer her wholesale houses (representing every branch of business,) that are now in course of construction will be completed, and will control a capital and command a trade which will certainly give Pueblo commercial supremacy in southern and southwestern Colorado, if not throughout the State. The sluggish spirit that a few years ago seemed to per meate this community has been displaced by a spirit of enter prise and progress. The sleeping giant has gathered during his repose new strength, and is now shaking off the lethargy which 6 PROSPECTUS. was only incident to long continued slumber. No reflecting man can to-day view Pueblo in an unprejudiced light, without being forced to the conclusion that she has a future before her bright and promising, indeed. Railroad Center. As a live, wide-awake railroad center, Pueblo is attracting attention not only in Colorado, but abroad. The Atchison, Topeka & Santa Fe Railroad company, whose line of railway, in connection with the Southern Pacific is now transcontinen tal, has its Colorado terminus in this city. Its energetic and sagacious management already witnesses the full fruition of the sanguine hopes entertained by them when five years ago they determined to push to Pueblo as the most desirable point from which to reach the commerce and travel of the mining regions of Colorado a commerce and travel which is still in its infancy. Here, too, is the center of the narrow gauge system ot railroad in the State a monument of the pluck, enterprise and ability of its promoters a system which, Briareus-like, is extending its arms into every portion of Colorado, developing new terri tory and gathering to itself the rich harvest which in every min ing camp awaits it. Engineering difficulties which would have been, a few years ago, deemed almost insurmountable, vanish like "mist before the morning sun," if they seem to stand in the way of the pioneer line, The branches of the Denver & Rio Grande company radiate from Pueblo to every point of the com passextending to Denver, Leadville, Silver Cliff, the San Juan, Gunnison and Kerber Creek mining regions in a word, winding their way through the mountain fastnesses into every part of the State where present or prospective business will justify their con struction. In connection with the A., T. & S. F. line it affords an outlet to both the eastern cities and the Pacific coast. To give us still greater railway facilities, the D. & R. G. Company is now engaged in laying a third rail from Pueblo to Denver, which, practically, gives us both a standard and narrow gauge connection with Denver and the Union Pacific system. Other PROSPECTUS. 7 railroads, in no way identified with the constructed lines, are projected from Pueblo to the east, and from Pueblo to the various mining camps in the State, and we have reason to believe that they will be put under construction at an early day. As a railroad center, the claims of Pueblo are now quite generally recognized. Manufactories and Smelting Works. No point in Colorado offers such superior facilities for the economic treatment of ores. Every mining camp of any mag nitude in the southern half of the State is already, or will soon be, reached by the narrow gauge railway. The fuels necessary for the treatment of the ores are close at hand. The average cost of transportation of ores, fuels and fluxes to Pueblo are cheaper than to any other point in the State. The silver smelting works of Mather & Geist, which have hitherto been ranked only by the works at Argo, have recently trebled their former capacity, and other smelting works on a large scale will soon be erected just beyond the outskirts of Pueblo. The number of employes carried on the pay rolls of Mather & Geist is larger than that shown by the rolls of any other smelting works in the State. Quantities of ore are constantly being received for treatment from the mines in New Mexico and Arizona. On the opposite side of the river, steel works, blast furnaces, foundries and machine shops are nearing completion. The first annual capacity of the Bessemer steel plant, running night and day, is stated to be 60,000 tons of rails, with every arrangement for increasing the product commensurate with the demand. The importance of this extensive steel plant, as it is the only one in Colorado, every one must admit. The advantages of this locality for the treatment of precious metals, and for the establishment of manufactories of iron and steel, are forcing 8 PROSPECTUS. themselves upon the attention of the public. Indeed, both as a business and a manufacturing point, Pueblo is in the front rank. Population and Prospects. The census taken one year ago showed an aggregate popula tion of about five thousand two hundred in Pueblo and South Pueblo. Since that date restored confidence, the general revival of trade, and the growing business importance of this city have served marvelously to increase the population, until to-day it is safe to assert that the number of inhabitants in the twin cities is not less than ten thousand. Separated only by the Arkansas river, and connected by street railway, the destiny of Pueblo and South Pueblo are linked together. During the last year many fine, commodious business houses and neat and beautiful residences have been erected. Foreign capital, keen -eyed and ever on the alert for profitable invest ment, has found its way to Pueblo, and is already affecting wondrous changes. But we dare not dwell at length in a mere prospectus on our future. September loth, A. D. 1880, The Pueblo Building and Improvement Company was organized with a capital stock of $50,000, which was promptly subscribed. That company has already constructed sixteen residences, all of which it has either sold or leased; acquired title to 115 town lots, fourteen of which it has again sold and conveyed. The venture succeeded beyond the most sanguine expectations of its founders, but it is now discovered that its capital stock is too small, and the scope of its powers is too limited to meet the expanding wants of this growing metropolis. It was accordingly resolved, with a view to the exigencies of the times, to organize a new company, to be known as The Pueblo Building and Investment Company. The articles of incorporation of this new company were filed April 14, A. D. 1881, with a capital stock of $500,000, and PROSPECTUS. 9 although it came into existence less than ten days ago, already one hundred and twenty thousand dollars have been subscribed, one hundred thousand of which have been taken by the citizens of Pueblo. The able and careful management of the old com pany has bred a deserved confidence in the new that has greatly inured to its advantage. It is the desire of the new company to secure, at present, subscribers to at least 2,500 shares $250,000. With this capital the management, which is com posed of safe, conservative, yet enterprising, business men, will be able very materially to enlarge the field of the company's operations, and to make a higher percentage of profit for the shareholders. The scheme of the company is both beneficent and profitable. It will bring a handsome return to the stock holder, and at the same time be a great benefit to such parties as rent or purchase buildings from the company. The com pany, by letting a contract for the construction of a consider able number of houses, can get better terms from the contractor than if a contract were let for the building of but one house. This method of letting contracts was profitably pursued by the old company. The purchaser of the building has a long time (see by-laws) in which to make final payment the monthly installments being but a trifle more than would be the ordinary monthly rental. The laboring class of people who are thus enabled to acquire homes for themselves and their families become better citizens, feel less dependent and more manly. The idea of owning a home carries with it the idea of self- reliance and contentment. The company proposes, before erecting business, dwelling or other houses, of whatever character, to acquire title to other lots in the same vicinity, so that the rise in the surrounding real estate resulting from the improvements made by the company will result, not to the benefit of strangers, but to the profit of the company. It is apparent that aggregated capital controlled by an efficient board of directors can be proportionately much more profitably employed than a small sum in the hands of one individual. Real estate can be better handled bv a combination 10 PROSPECTUS. of capital, with the joint efforts of a board of experienced busi ness men. Articles of incorporation, together with the by-laws of the company, printed herewith, so fully set forth the powers of the company, the purpose of its organization, and the plans to be pursued in effectuating that purpose, that we deem it needless to say more. PUEBLO Articles of Incorporation. Know all men by these presents, that we, Mahlon D. Thatcher, O. H. P. Baxter, John V. Shepard, Michael H. Fitch, William H. Hyde, residents of the State of Colorado, have associated ourselves together as a company, under the name and style of The Pueblo Building and Investment Company, for the purpose of becoming a body, corporate and politic, under and by virtue of the laws of the State of Colorado; and, in accordance with .the provisions of the laws of the said State, we do hereby make, execute and acknowledge, in duplicate, this certificate in writ ing, of our intentions to become a body corporate, under and by virtue of said laws. I. The corporate name and style of our said company shall be The Pueblo Building and Investment Company. II. The objects for which our said company is formed and incorporated are for the purpose of purchasing and improving real estate, loaning money thereon, building dwelling, business and other houses, and renting and selling the same in the County of Pueblo, State of Colorado. III. The capital stock of our said company is Five Hundred Thousand Dollars, to be divided into five thousand shares, of One Hundred Dollars for each share. 12 ARTICLES OF INCORPORATION. IV. Our said company is to exist for the term of twenty years. V. The affairs and management of our said company is to be under the control of thirteen trustees; and Mahlon D. Thatcher, Alfred W. Geist, O. H. P. Baxter, Chas. E. Gast, Michael H. Fitch, William H. Hyde, Hiram O. Alden, Sr., Ferd Barn- dollar, Gideon H. Hard, Irving W. Stanton, Chas. S. Thomas, George L. L. Gann and Henry C. Thatcher are hereby selected to act as said trustees and to manage the affairs of said company for the first year of its existence. VI. The operations of our said company will be carried on in the County of Pueblo, and State of Colorado; and the principal place of business of our said company be located in the City of Pueblo, in the County and State aforesaid. -. VII. The trustees shall have power to make such prudential by-laws as they may deem proper for the management of the affairs of this company, according to the statutes in such case made and provided. In testimony whereof, we have hereunto set our hands and seals, on this twelfth day of April, A. D. 1881. MAHLON D. THATCHER, O. H. P. BAXTER, JOHN V. SHEPARD, MICHAEL H. FITCH, W. H. HYDE. STATE OF COLORADO, \ COUNTY OF PUEBLO. } ss " I, W. J. Barndollar, a Notary Public, in and for said County, in the State aforesaid, do hereby certify that Mahlon D. Thatcher, O. H. P. Baxter, John V. Shepard, Michael H. Fitch and William H. Hyde, who are personally known to me to be the persons whose names are subscribed to the foregoing ARTICLES OF INCORPORATION. 13 and annexed certificate of incorporation, appeared before me this day in persons, and acknowledged that they signed, sealed and delivered the said instrument of writing as their free and voluntary act for the uses and purposes therein set forth. Given under my hand and notarial seal this twelfth day of April, A. D. 1 88 1. W. J. BARNDOLLAR, [SEAL.] Notary Public. BY-LAWS, i. The regular meetings of the Board of Trustees shall be held on the first Monday of each month, at the office of the company, at Pueblo, Colorado, at such hour as may be from time to time appointed. Seven shall constitute a quorum at all meetings of the Board. The President may call special meetings of the Board at his discretion. Special meetings of the stockholders of the company shall be called by the President, at the request of the stockholders owning one-quarter of the capital stock. But no meeting so called shall have power to do business, unless more than one-half of the stock of the company is represented by the stockholders present. The annual meeting of the stockholders for the election of Trustees shall be held at the office of the company, in Pueblo, Colorado, on the first Monday of May, 1882, and annually thereafter, on the first Monday of May of each and every year. The Secretary of the company shall act as Secretary of the meeting. At such meetings each stockholder shall be entitled to one vote for each share of stock owned by him or her. No person shall vote as a proxy unless he or she shall produce a written authority so to do, signed by the stockholder whom he jj BY-LAWS, or she represents, which written authority shall be delivered to the Secretary. On the meeting being called to order, the stockholders shall appoint three inspectors of election, who shall be stockholders in the company. The polls shall then be opened and kept open one hour. The inspectors shall then immediately count the votes and declare the result ; and the thirteen persons receiving the largest number of votes respectively shall be declared elected Trustees for the ensuing year. II. The order of business at the regular meetings of the Board shall be : 1. Calling the roll. 2. Reading of the minutes of previous meeting. 3. Report of committees. 4. Reports of officers. 5. Unfinished business. 6. Miscellaneous business. All questions shall be decided by the vote of a majority of the members of the Board present, except as herein otherwise provided. The President being entitled to one vote in all cases, and the yeas and nays shall be taken and recorded on the demand of any member. III. The officers of the company shall be a President, Vice- President, Treasurer and Secretary to be elected annually by the Board, within ten days after the annual election of Trustees. The Board may appoint committees, conveyancers, attor neys, agents, and such assistants as from time to time they may require, and pay such remuneration therefor as they may deem proper. If a vacancy occur in either of the offices herein named, the same may be filled by the Board at the regular meeting next succeeding, or at a special meeting called for the purpose notice of the object of such meeting having been duly given. BY-LAWS. 77 All elections shall be by ballot, and a majority of the whole Board shall be necessary to a choice. IV. At the first meeting of each newly elected Board of Trustees there shall be elected, for the ensuing year, four members of the Board, who shall, together with the President, constitute an Executive Committee, of which the President shall be ex-officio Chairman ; and any three of whom shall constitute a quorum, who shall have power to approve all bills, audit accounts, approve the purchase and sale of real estate, loans of money, contract for building material, direct the preparation of and approve plans for buildings, and to transact such other business as the Board may from time to time delegate to said committee. The said committee may meet at any time upon call of the President, and shall keep a strict record of its proceedings, which it shall report to the Board of Trustees at each regular monthly meeting. V. The President shall have the chief management, control and supervision of the affairs of the company, subject to such rules and orders as the Board of Trustees may from time to time establish ; he shall preside at all the meetings of the Board at which he may be present ; he shall preserve order and promote the speedy transaction of business. In case of the absence or inability of the President, the Vice-President shall succeed to his powers and duties during the continuance of such absence or inability. In the absence or inability to serve of both the President and Vice-President, the Board may elect a President pro tempore. VI. It shall be the duty of the Secretary to be present at the meetings of the Board ; to keep full and perfect minutes of the proceedings, votes taken and resolutions adopted ; to keep the 2 8 BY-LAWS. books and records of the company ; and to give notices to all the Trustees of the time and place of each regular or special meeting; and whenever any special committee shall be appointed in pursuance of a resolution of the Board, to furnish the Chair man thereof with a copy of such resolution. When any vacancies are to be filled, either in the Board of Trustees, or any of its officers, or any of the officers of the com pany, or any of the standing committees, or any proposed altera tion or amendment to the by-laws is to be acted upon, notice thereof shall be specially given in the notice of the meeting . Similar notice shall be given of the object of all special meet ings of the stockholders. He shall receive all the moneys due the company, and issue a receipt therefor, and pay the same over to the Treasurer. VII. It shall be the duty of the Treasurer to receive all moneys paid into the company, and receipt therefor to the Secretary, and to deposit the same in some bank or banks, to be desig nated by the Board of Trustees, to the credit of the company by its corporate name. The Treasurer shall disburse all moneys directed or authorized to be paid by the Board of Trustees. He shall take vouchers for all moneys disbursed by him ; and no bill or account shall be paid by him, except on an order drawn on him by the Secretary and countersigned by the President. He shall keep correct books of accounts, which shall at all times be open to the inspection of the Board of Trustees and to every member thereof. He shall at the annual meeting in each year render to the Trustees an account of the financial condition of the company, and of all moneys received and disbursed by him for the preceding year. He shall from time to time furnish such statements and accounts as shall be required by the Board of Trustees, and shall, whenever required, lay all papers, books and accounts in his possession and relating to the business of the company, before any meeting of the Board of Trustees or any committee thereof. BY-LAWS. i 9 The Treasurer shall give a bond in the sum of not less than twenty thousand dollars, ($20,000,) to the satisfaction of the Board of Trustees, for the faithful performance of his duties. VIII. Any officer or employee of the company who shall control or disburse the moneys of the company, when required so to do by resolution of the Board of Trustees, shall execute a bond to the company in such amount as the Board may direct, and with sureties approved by them, for the faithful performance of the duties of his office. IX. Dividends may be declared in the discretion of the Board of Trustees, or by a majority vote of the stock at a regular meeting of the stockholders, out of the net earnings of the company. It shall be the duty of the Secretary to prepare the account thereof, and the same shall be paid by an order drawn on the Treasurer by the Secretary and countersigned by the President, drawn to the order of the party entitled to the same. X. Each subscriber to the stock of the company, upon the pay ment of any and every installment thereon, shall receive a re ceipt therefor, signed by the Secretary, and when full paid shall be entitled to and receive a certificate or certificates represent ing the amount subscribed for. No transfer of stock shall be made unless the old certificate of stock be surrendered. The transfer of every certificate of stock shall be registered by the Secretary, and every certificate surrendered upon transfer, and shall be endorsed .with a memorandum showing the disposal of the shares represented thereby, stating the number or num bers of the new certificate representing the same, and a like memorandum shall also be kept by the Secretary on the scrip 20 BY- LAWS. book opposite where the new certificate was issued. The trans fer book shall be closed for ten days prior to the annual elec tion, and for ten days prior to the payment of any dividend. On the day of the annual election the Secretary shall furnish for the use of the inspectors an alphabetical list of the stockholders at the time of the closing of the books. The dividend list shall be made up on the stock as the same appears by the books to be held at the time of the closing of the books for a dividend. The Board of Trustees may, at any time, adopt any addi tional safeguards they may deem advisable in reference to the issue of stock certificates. No certificate shall be issued in place of one stated to be lost, except on receiving a satisfactory bond of indemnity against such lost certificate, and then only by direction of the Board, after proper and legal evidence of the loss. XI. All deeds, contracts and other legal documents, when author ized by the Board of Trustees, shall be signed by the President and countersigned by the Secretary. The corporate seal of the company shall be a circular die, with the name of the company around the border, and shall be in custody of the Secretary. XII. The stockholders of this company shall be of the age of twenty-one years and upwards. Minors may hold stock by guardian or trustee. XIII. Every stockholder, for each share of stock that he or she may hold in this company, shall pay the sum of five dollars on or before the first Monday of May, 1881, being the first installment, and a further sum of two dollars and fifty cents on BY-LAWS. 21 or before the first Monday of each and every month thereafter until said share or shares shall be fully paid. Any stockholder may anticipate any or all of his or her installments on any or all shares held by him or her, and be allowed~a discount at the rate of seven per cent, per annum for the time so anticipated. XIV. If any stockholder shall fail to pay his or her installments when due, or any of them, and permit the same to remain delinquent for three months after the said installments, or any of them, are due and payable, the right of such delinquent as a stockholder for each share held shall cease, and his or her stock revert to the company, provided he or she shall not have paid into the company an excess of twenty-five per centum of the par value of said delinquent stock. If said delinquent shall have paid in more than twenty-five per centum of the par value of said stock, he or she shall pay a fine of five dollars a month on each and every share so delinquent from the date when due for three months thereafter, and if not then paid the right of said delinquent as a stockholder shall cease, and the stock revert to the company, with this qualification, that stockholders so failing shall be entitled to receive out of the first unappropriated money in the treasury seventy-five per centum of the amount paid in upon said delinquent stock, less all the fines assessed against him or her as aforesaid. XV. The following plan shall be observed to govern all sales of property and payment thereon : When a purchase price shall be fixed for any certain piece of property and the same is offered for sale, the purchaser, upon the payment of twenty per cent, of the purchase price, shall receive a bond which shall entitle him to a deed upon the full payment of the purchase price. 22 BY-LAWS. Deferred payments may be made as follows: In equal monthly installments extending over a period not exceeding four years from the date of the said bond, and shall include in the aggregate the balance remaining due after the first payment, together with a reasonable insurance for the whole time and interest thereon, at a rate to be fixed by the Board of Trustees or the Executive Committee from time to time, which shall not be less than the commercial rate in the City of Pueblo at the time, until the date of the last payment. The purchaser may anticipate any or all of the deferred pay ments and be allowed a discount of two-thirds of the per centum charged therein, on any or all of them, for the time they have to run. All notes for deferred payments shall bear interest at the rate of two per cent, per month from maturity until paid. The company shall pay all taxes on the property and charge the same to the purchaser, who shall repay the same to the com pany on or before the fifteenth day of January of each and every year, and if not paid then to bear interest at the rate of twenty-five per cent, per annum until paid, and if not paid within three months from the date when due, the bond to be subject to forfeiture. The Board of Trustees may modify the terms and conditions of the foregoing, providing the result contemplated within the time is not changed. XVI. The by-laws may be altered or amended by a vote of not less than nine of the Trustees at any meeting of the Board, pro vided notice of the intention to make such alteration or amend ment shall have been given at a previous meeting held not less than ten days prior to said change or amendment.