The Arizona sentinel., 1888-06-02
ARTICLES OF lNcoRPoRAr.oN
OF the South ella DEVELOPMENT


ourselves under the provisions of the laws
of the Territory of Arizona, and especially
an Act of the Legislative Assembly there
of entitled can Act Concerning Corpora.
tions," approved March Sth, 1887, for the
purpose of engaging in the business and
enterprise hereinafter mentioned, do make,
subscribe and acknowledge in triplieate
these articles Of incorporation.
The name of this corporation, and by
which it shall be hereafter known is ''The
South ella Development Company" and
its principal place for transacting business
is the town of Texas Hill, County of Yu-
ma. Territory of Arizona.
H.
The business and enterprise in which
this corporation proposes to engage in shall
be, to acquire by purchase, location, or in
any other lawful manner, real estate, lands
and all other kind of property, real, per-
sonal or mixed, and to improve and sell the
same; to borrow or loan money and receive
mortgages upon lands, and to carry on the
business of banking in all its branches; to
buy and sell merchandise. and conduct and
carry on a mercantile business in all its
branches; to acquire water by location or
purchase, and construct and maintain
dams, canals, bitches, pipes and reservoirs
for conducting and distributing the same;
to construct buildings and warehouses, and
hold. occupy, buy and sell the same; to
construct roads and maintain the same; to
erect, operate and maintain telephone and
telegraph lines; to mortgage, hypothecate
or pledge any of the property of this corpo-
ration; to do and transact any and all kinds
of business which may be transacted by
natural person.
The amount of the capital stock-of this
corporation shall be Two Million ($2, 000,-
10000 Dollars, divided into two hundred
thousand (2OO,OO0) shares of the par value
of Ten $50 Dollars per share, and the same
shall be non assessable, aud the said capital
stock shall be paid in at the times and I'M
der the conditions ordered and authorized
by the board of directors of this corpora
ton.
The time of the commencement of this
corporation shall be the day of the filing of
these Articles in the office of the Recorder
of the County of Yuma, Territory of Ari-
iona, and shall terminate fifty years there
after.
V.
The highest amount of indebtedness or
liability, direct or contingent, to which this
corporation is at any time to be subject, is
the sum of One Million Isl, 900, 0OO.OO dol
lars.
VI.
The highest amount Of Indebtedness or
liability to which this corporation is at any
time to subject itself is the sum of One Mill
ion Isl 900, 0O0.Oo Dollars.
VII.
The affairs of this corporations shall bocon-
Quoted by a Board OF Directors composed
five (5) persons who shall be elected annu-
ally by the stockholders and shall hold
office for one year and until their successors
are elected and qualified. The time and
manner of said election shall be provided
for in the Bylaws of said corporation.
said Directors shall be subscribers to the
capital stock of said corporation, and no
person shall be eligible to said office unless
he be stakeholder i'll the corporation, and
any person ceasing to be subscriber shall
cease to be Director, and hereafter if any
Director shall cease to be a stakeholder he
shall cease to be Director.
The Board of Directors of this corpora
ton shall have power to establish Bylaws
and make all rules and regulations neces-
sary for the management of the affairs of
this corporation and the officers thereof.
The following named persons, who are
subscribers to the capital stock of this cor
poration, shall constitute its Board of Di-
rectors until the Goth day of July, 1888,
and until their successors arc duly elected
and qualified, to-wit: Stephen Mcpherson,
w. 7. Woods, Jr., L. Metcalf, S. H. Jack
man and John Doelittle.
Will
The stockholders and their private prop
erty shall be exempt from the corporate
debts of this corporation.
In witness whereof we have hereunto set
our hands and seals this twenty eighth day
Of February, =. D., 1883. Executed in
triplicate.
STEPHEN MCPHERSON. L. 81
WILSON T. WooDs Jr. IL. ST.