Arizona republican., 1896-02-21

shall have the right to hypolhecate, mortgage or pledge all or any part of the property ot this corporation and all or any part of the property which this corporation may hereafter acquire, and shall have the right to cure the payment Of any money borrowed by 1t or the payment of any debt of this corporation with such interest thereon as its Board of Directors may from time to time determine.
 ARTICLE III.
 The amount of capital stock of this corpora. tion shall be one million dollars divided into one million shares of the par value of one dol lar per share, and the time when and the con- dltions upon which it is to be paid gre as fol- lows, to wit; All stock in this corporation shall be paid for in full upon making subscrip. t1on therefor, and no stock certificate shall be issued in this corporation for any stock until the same shall be fully paid, and when any stock shall be issued in this coIporation it shall be non-assessable thereafter.
 ARTICLE "
 The time of the commencement of this cor poratlon shall be the date of the filing of these articles of incorporation in the office of the County Recorder of Maricopa County, Arizona, and the termination thereof shall be twenty five years thereafter.
 ARTICLE V.
 The affairs of this corporation sh Ill be con ducted by Board of Directors consisting of five stockholders who shall be elected annually by the stockholders on the third Tuesday in Jan uarv Of each year at the hour of ten o'clock in the forenoon. That until the first annual eiec- tlon which shall be held on the third Tuesdly Of January. 1897, at the office of the com panv in the City of Phoedix, at 10 o'clock g. m, the fol- lowing named persons who are subscribers to the Capital stock of this corporation shall constitute the officers and directors. viz: c. D. Clarke, Director and President; A. c. Frost, Director and Vice-Presideut; J. c. Rankin, Director and Secretary; B. W. Josselyn. Direct or: M B. Clarke, Director, and F. s. Belcher, Treasurer.
 ARTICLE VI. The officers of this corporation shall be a President, VicePresident, Secretary and Treas. urer, who shall be elected annually by the Board Of. Directors at such time as may be prescI bed by the bylaws of this corpora tion. l provided that the President and Vice President shall be elected from among the Board of Directors and the Secretary and Treasurer may be elected either from the stockholders or 1 directors.
 1 ARTICLE VII. | The Directors and Officers of this corporation shall hold their offices for the term of one year from their election until their successors are 1 duly elected and qualified, unless for any reason such officer or director shall cease to be an officer or director as herein provided. Any | othoer or director ceasing to be stockholder in this Corporation shall thereupon cease to be director or officer. All vacancies in the Board of Directors or offices of this corporation shall | be filled for the unev pired term by the remaln- ing members of the Board of Directors. majority of the Board of Directors shall consti- tu1c quOTuul, duu dIly meeGl0g O1. the BOaIQ of Directors at which quorum is present shall be deemed a regular and legal meeting and have the same authority as full board, whether notice of the meeting to the absent members of the board shall have been first | given or not.
 ARTICLE VIII. The highest amount of indebtedness or habii- lty to which this corporation is at any time to subject itself, direct or contingent, is the o1 three hundred thousand dollars.
 ARTICLE TX.
 The stockholders of this corporation and their private property shall be exempt from the corporate debts of this corporation.
 ARTICLE X.
 The Board of Directors of fhis corporation shall have the power to establish bylaws and make all rules and regulations deemed expe dient for the management of this corporation and the officers thereof
 ARTICLE XI.
 These Articles of Incorporation may be am ended at any regular meeting of the stock 1 holders or at any special meeting thereof called ] for that purpose by majority of the stock present at such meeting voting in favor of such amendment, and wheneve, these articles Of in corporation shall be amended as herein pro- vided the same shall be signed and ackno VI edged by the President of the corporation, ar when recorded and published shall have the same force and effect as though they had been | signed by all the stockholders of the cor poration.
 In witness whereof, we have hereunto set oul hands, this first day of February, 1s9e
 CHAUNCEY D. CLARKE, A. c. FROST. | M. R. CLARKE. TERRITORY OF ARIZONA s
 County of Maricopa. ss.
 Before me, Thomas D. Bennitt, Notary Public in and for said County and Territory, on this day personally appeared c. D. Clarke, A c. Frost and M. R. Clarke, known to me to be the persons whose names are subscribed to the above and foregoing instrument, and acknowl edged to me that they executed the same fol the purpose and consideration therein ex- I pressed.
 Given under my hand and seal Of office this first day of February, 1S96
 THOMAS D. BENNETT.
 Notary Public. RECORDERS OFFICE,
 PhGnlX, MaricOpa Co.,, A. T.
 Filed and recorded at request of Chauncv D. Clarke, Feb. | 1S96 at $50 o'clock D. m., Book Of Corporations, Pages 322 to 325.
 J. W. KINCAID,
 County Recordar TERRITORY OF ARIZONA,
 COUNTY OF MARIC0PA.
 I,J W. Kincaid, County Recorder in and fol the County and Territory aforesaid, do hereby certify that the within instrument was filed fol record at $50 o'clock D. m on this 1st day oi February, 1926 and duly recorded in Book Mo- of Corporations, Records of Maricopa County Arizona, at pages 322.
 Witness my hand and official seal the day and year above written. J..W. KINCAID, County Recorder. NNNxNNNaXNXNNNNNNxNyxxNN