Arizona republican., 1895-06-05
ARTICLES OF INCORPORATION
 OF THE ARIZONA LAND COMPANY.

lflE hKlLUNA LAND CUMPANf. We, Walter Bennett. Robert A Brown and William Christy whose names are hereto sub scribed, for the purpose of forming corpora tion and being incorporated under the laws of the territory of Arizona, and especially under an act of the Legislative Assembly thereof, en- titled "An Act Concerning Corporations" ap- proved March 8th 1887, and all acts nmmend- atory thereto, have adopted, signed and ac- knowledged these articles of oftncorporation.
 ARTICLE l.
 The names of the incorporators of this in- corporation are William Christy, Walter Ben net and Robert A. Brown.
 The name of this corp )ration by which 1t shall be designated and known shall be THE ARIZONA LAND COMPANY and its principal office for the transaction of business shall be at the city of Phoenix in the county of MaricOpa and territory of Arizona and it may have such other offices and at such other places as it's board of directors may from time to time here after direct and designate.
 ARTICLE II.
 The general nature and character of the busi- ness proposed to be transacted by this corpora tion shall be the buying, selling and dealing in and cultivating real estate; the issuing. buy. ing, selling and dealing in notes, bonds and mortgages and other evidences of indebted ness; the buying, selling, holding and owning stock of other corporations and the buying, selling, constructing, owning and operating canals, canal sites, mills, mill sites, dams, waterways, and water works.
 ARTICLE III.
 The capital stock of this corporation shall be Three Hundred Thousand (s300 000) Dollars, divided into Three Thousand (3,00O) shares Of the par value of One Hundred $100) Dollars each.
 The times when and the conditions upon which said capital stock is to be paid Ill are as follows: All stock shal be paid for in full in cash or in property at the time the said stockis issued, and no stock shall be issued by this company until it shall be fully paid for, after the said stock shall have been fully paid up the board of directors shall have the power to levy assessments upon the same whenever the exeginces of the company shall, in their judg ment, require such levy to be made, and in case of non payment of any assessments levied by the board of directors, the said stock upon which any assessment remains unpaid for 30 days after the same becomes due, may be sold at public auction to pay such assessment in kuch manner as the bylaws of the company shall direct.
 ARTICLE ".
 The time of the commencement of this cor poration shall be the date of the filing of these articles of incorporation for record and its termination shall be twenty-five years there- after.
 ARTICLE V.
 The office of this corporation shall be under the management and control of a board Of d1- rectors, who shall be stockholders of this cor porat1on and who shall be elected at the an- nual meeting of the stockholders in each year and shall hold their offices for one year and un- til their successors are elected and qualified The officers of this corporation shall be @ President, Vice-President and Secretary, who shall be elected by the board of directors from among the1r number annually at the first meet ing of the board of directors, after the annual stockholders meeting in July of each year. The annual meeting Of the stockholders of this corporation shall be held in the office of the corporation in the City of Phpnix, Ari Alxo nr1ao oE Tr11rv in .n1 year, and until the first annual meeting of the stockholders of this corporation in July, 1896, the following named persons, who are sub scribers to the capital stock of this corporation shall constitute the board of directors and off cers of this corporation, viz: William Christy, President; Robert A. Brown, Vice President, and Walter Bennett, Secretary. Any person ceasing to be a stockholder of this corporation shall cease to be director Vacancies in the board of directors shall be filled by the remain ing members of the board of directors until the next annual meeting Of the stockholders.
 ARTICLE VI. The highest amount of indebtedness or liabil- ity to which this corporation shall at any time subject itself is the sum of Two Hundred Thousand Dollars.
 1--''- ARTICLE VII.
 The private property of the stockholders of this corporation shall be exempt from the debts of this corporation except that the shares of stock ot this corporation may be sold by the corporation to pay unpaid assessments thereon duly levied and assessed by the board of directors as above provided in article Mo- 8.
 ARTICLE VIII
 The board of directors of this corporation shall have power to establish sby-laws for the management of the affairs of this corporation and the officers thereof, not contrary to law or inconsistent with these articles.
 At all meetings of the board of directors majority of said directors shall constitute a quorum for the transaction of business.
 ARTICLE K.
 These articles of incorporation may be amended at any annual meeting of the stock holders or at any special meeting called for that purpose by twothirds vote of the stock holders of this corporation voting for such amendment.
 In witness whereof we have hereunto set our hands and seals this Eth day of May, A. D., 1895.
 WALTER BENNETT, [sEAL1
 ROBERT A. BROWN. TSBAL1