The Arizona sentinel. [volume] (Arizona City [Yuma], Yuma County, A.T. [Ariz.]) 1872-1911, 1888-06-09
ARTICLES OF INCORPORATION
OF the South ella Development
Company.

We Stephen Mcpherson, w. T. Woods,
Jr, and E. Metcalf, desiring to incorporate
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 triplicate
these articles Of Incorporation.
l.
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.
II.
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
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
III nkofv
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
shall be Two Million (S2, OOO,-
)OO 90 Dollars, divided into two hundred
thousand goo, 000) shares of the par value
If Ten (Sl0l 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
Ter the conditions ordered and authorized
,y the board Of directors of this corpora
ion.
The time of the commencement of this
shall be the day of the filing of
hese Articles in the Office of the Recorder
# the County of Yuma. Territory of Ari-
ona, and shall terminate fifty years there
lfter
V.
The highest amount of indebtedness or
liability, direct or contingent, to which this
is at any time to be subject, is
he sum of One Million 81 Zoo, 600. OO) dol
ars.
VI.
The highest amount of indebtedness or
liability to which this corporation is at any
ime to subject itself is the sum of One Mill
On Isl zoo, 0OO.O0) Dollars.
VII.
The affairs of this corporations shall bcco
ucted by Board of Directors composed
We (5) persons who shall be elected annu-
lily by the stockholders and shall hold
flee for one year and until their successors
re elected and qualified. The time and
manner of said election shall be provided |
Or in the Bylaws OF said corporation.
aid Directors shall be subscribers to the
apital stock of said corporation, and no
erson shall be eligible to said office unless
le be stakeholder in the corporation, and
ny person ceasing to be subscriber shall
ease to be a Director. and hereafter if any
Director shall cease to be stakeholder he
hall cease to be Director.
The Board of Directors of this corpora
ion shall have power to establish By Laws
nd make all rules aid regulations neces-
airy for the management of the affairs of
his corporation and the officers thereof.
The following named persons, who are
to the capital stock of this cor
,oration, shall constitute its Board of Di-
ectors until the Doth day of July, 1888,
nd until their successors arc duly elected
md qualified, to-wit: Stephen Mcpherson,
". T. Woods, Jr., E. Metcalf, S. H. Jack
nan and John Doolittle.
VIII.
The stockholders and their private prop
'rty shall be exempt from the corporate
lebts of this corporation.
In witness whereof we have hereunto set
,ur hands and seals this twenty eighth day
# February, a. D., 1888. Executed in
riplicate.
STEPHEN MCPHERSON. II. 81
WILSON T. WOODS. Jr. IL. 81
E. METCALF, u. ST.