Arizona republican., 1891-11-26

dental or convenient, or necessary in and about the carrying on of said business, and to buy and sell printing presses, types and all other kinds of apparatus, implements, furniture, tools and other property convenient, or useful, or necessary in and about the said business hereinaboye named to borrow money and cou- tract to repay the same at such time or times, and with such rate or rates of interest as its board of directors see fit, and to hypothecat te, mortgage or pledge all or any part of the prop erty of this corporation, and all any part of the property which this corporation may hereinafter acquire; to secure the payment of such money with interest, or to secure the payment of any ts deet of this eorPoraii,en, with such such interest
 THIRD The place where this corporation will have its principal office and place of business IS the City of Tucson, in the County of Pima,
 FOURTH The amount of the capital stock of this corporation shall be fifty thousand (50,0O0) dollars, divided into five thousand shares of ten u0) dollars each, and the time when, and the condition upon which tt is to be paid are as fol- lows, to.wit The entire face value thereof i'm mediately upon making the subscri ption there for.
 FIFrH. The par value of each share of the cap ital stock of this corporate n shall be ten tl0) dollars
 SIXTH. The highest amount of indebted ness or liability, direct or contingent, to which this corporation at any time Is to be subjected, is tho sum of fifteen thousand ti5,oool dollars.
 SEVENTH. The stockholders in this corpora ton, and their private property shall be exempt from the corporate debts Of this corporation.
 EIGHTH. The affairs of this corporation are to be and they shall be conducted by the board of directors, consisting Of five persons, who shall be elected annually by the stockholders, at such time and in such manner as shall be prescribed by the bylaws of this corporation, and all of whom shall be subscribers to the capital stock of this corporation, and hereinafter no person shall be eligible to the office of director unless he isa stockholder in the corporation: provided, that said board oi directors may elect such off cers and appoint such committees from their own number to aid in the management of the business, and the conducting the affairs of the corporation as they may sec fit, and vest in said officers and said committees all suGh powers as they may deem expedient The following named persons, who are subscribers to the cap ital stock of this corporation shall constitute the board of directors of this corporation until the first Monday in Dece mber, 1892 and until their successors. duly qualified, shall be elected. t0-wit: Lewis Wolaey, Clark Churchill, John A. Black, Thomas Hughes and Theodore J. Wolney. Any person ceasing to be a subscriber shall cease to be a director. rnd hereinafter if any director shall cease to be stockholder he shall cease to be director Vacancies in :he board of directors shall be filled by the remain ing members of the board. Immediately, or as soon as practicable, after the filing of tn, SC ticles In the office of the county recorder of the County of Pima, Territory of Arizona, the per sons named herein as directors to serve until the first Monday in December, 1892 until their successors, duly qualified, shall he elected shall meet and organize as n board of d. rectors, adopt oy laws, and prescribe in said bylaws the method Of calling meetings of the board of directors and stockholders. A ma jOrity of said directors shall be a quorum for the transaction of the business of said board.
 The stookhoder of the corporation are here- by authorized and empowered to increase or diminish the number of the members consti- tuting the board of directors of this corporation, by vote Of the majority Of the subscribed cap ital stock, and each share subscribed or held shall entitle the subscriber therefor or holder thereof Co ole vote at all meetings of the sub scribers holders of said stock, and in case the said subscribers to or holders of the capital stock, shall by vote increase the number of members of the said board of directors. the members of said board thus created shall each have the same powers each of the i've mem bers of said board created by these articles.
 The board of directors of this corporation shall have power to establish by y-laws and make all rules and regulations deemed expedient for the management Of the affairs of this corpora. ton, and the officers thereof, not inconsistent with the constitution and laws of the United states and the laws of this Territory.
 In witness whereof we have hereunto set our hands and seals, this 2lst day of November, 1891.
 THEODORE ]. woLFLEY, lseall
 STATES D. MORRISON lseall