Arizona republican., 1892-03-24

pledge or hypothecate any of the same for the purpose of furtheIing said scheme. To raise, sell and buy sugar beets and other productions, to make, buy or sell sugar, moasses, candy, etc !, etc.
 The amount of capital stock of this corpora ton shall be Five Hundred Thousand Dollars tS500,000) divided into fifty thousand shares and the times when and the conditions upon which it is to bo paid, are as follows Each subscription for stock shall be paid in whole or in part at tho time of making subscrip- ton therefor, as the Board Of Directors shall direct but each subscriber for stock shall make payment therefor as may then or thereafter be ordered Dy the Board of Directors.
 FOURTH.
 The time of the commencement of this cOrpor- atisn shall be the day of the filing of these aatcles of incorporation in the office Of the county recorder of Maricopa couny, ArizODa territory, and the termination thereof shall be twenty five years thereafter.
 FIFTH.
 The affairs of the corporation are to be con ducted by Board of Directors consisting of five persons, being stockholders in the corporation
 SIXTH.
 The first Board of Directors are to be elected by the stockholders or those who have subscrib ed for stock on the books of the company at any regular meeting which may be called by ma jority of these incorporators for that purpose, who shall hold their office until the first annual meeting of the stockholders and until their sue cessors are elected and qualified, and thereafter the Board of Directors shall be elected at the annual meeting eff the stockholders. The an nual meeting of the stockholders shall be on the second Monday of the month of March in each ye ir, but such time of meeting may be changed by the stockholders at any such annual meet ing,
 The officers of the company shall be a presi dent, treasurer and secretary, each Of whom shall be q stOckholder and member of the Board Of Directors pNpput the Sppretury who need no; be either, but who can be elected and dis missed at the pleasure of the Board or Directors. No person shall be director who is n ,t stock holder and shall cease to be member or the Board of Directors upon ceasing to be stock holder, and vacancies that may happen at any time after the election of the board may be filled by the remaining members or the board. A majority of the Board of Directors shall constitute q quorum and may appoint their own time and place Of meeting.
 SEVENTH.
 The highest amount of indebtedness or liabil- ity to which the corporation is at any time to subject itselfis the sum of Five Hundred Thous- and Dollars
 EIGHTH.
 The highest amount of indebtedness or liabil- ity, direct or contingent, to which this corpora tiou is at any time to he subject is the sum Of Five Hundred Thougnnd Dollars.
 NINTH,
 The stockholders in this corporation and their private property shall be exempt from the cor porate debts of this corporation.
 TENTH.
 The Board of Directors shall have power to establish by. laws and make all rules and regu- laDions deemed eXpedient for the management of the affairs of this corporation not inconsist ant with the Constitution and laws of the Unit ed States and the laws of this territory. Witness our hands snd seals this fifteenth day of March, A. D., 1892.
 CHARLES D. PosToS, (sesl
 CHARLES GOLDMAN, (seal
 MICHAEL WORMsER. (scal)
 tseal