Arizona republican., 1896-11-13

pay the same at such time or times. and with tuch rate or rates of lnter.st as it's ma ,aging oI1lcer or officers deem proper ana see fit; .nd to hypothecata mortEag os p!efge all or any part of the property of this corporation, ana all or any part of the property It may hereafter acquire; to secure payment of sucn money with interest, 1T to secure the pay ment of any deht of thi' corporstiou with such interest thereon as it may De legally obig4,eu to pay.
 The place whera this corpora inn nrornees -n have its princi pal office hnt place ot ouslhess is the City of Phoenix, in the County or Mari copa, Territory of Arizola.
 The amount of the capital stock of this cor poration shall be fifty Thousand 6 O. 00i) Dol lars, divided into Five Hundred (5o0) sraras. of the par value of One Hundred (s100) pliars each. and the time when anC the cOnuition upon which 1t is to he paid are as follows, tn wit: The whole thereof immediately upan msking the subscription therefor; a:'d the said stock shall b fully paid before being issued, and unassessable thereafter.
 The amount of the par value os each share of the capital stock of this corporation shal be One Hundred GlO0) Dollars.
 VI.
 The highest amount nf indebtedness o- liabii- ulIScL UT COtli tO W dlCn tu's ton is 1t any time to ne subject Is the sum of Fifty Thousand CSC ,C00) Dollars.
 VII.
 The stockholders in this corporation. and their private property, shall be exempt from the corporate debts Of this corporation.
 VII.
 The affairs Of this corporation are and they shall be, condu ted by Board of Direc OTIS consisting of three (3) persons, who shall be elected annually by the stockholders, at such time and manner as shall be prescribed by the Bylaws of this corporation, end all of whom shall be su bscribers to th- capital stock of this corporation, and hereafter no person shall De eligible to the offcs of Director uulass he is a stOckholder in the corporation; provided, that said Board of Directors may elect such officer | or officers and appoint such committee or com mittees. from their own number. to aid in the management Of the business, and in the con- ducting of the affairs oi said eorporation, as cers and said committee or committees all such 1 powers as they may deem expedient. | The following named parso IS, who are sub scribers to the capital stock of this corpor ton. shall constitute the Board of Direc' ors of this corporation until November g., 1897, CT until their successors duly qualified, shall be elected, | to wit: ]. W. Evans, Thomas Armstrong, Jr and J. c. Adams. Any person teasing to be & stockholder shall cease to be director. l Vacancies in the Board of Directors shall be I filled by the remaining mem CTS of the board | Immediately, or as soon as pr lcticsble after the nling of these articles in the office of the County Recor CT of the County of Maricopa, Territory of Ariz ona, the persons named here in as Directors to serve until November 9, 1897 or until their successor or successors duly qualified, shal be elected shall meet and organize as Poard of Directors adopt By Laws a. prescribe in said Bylaws the method of calling meetings of the Board of Directors and stockholders. majority of said Directors snail be quorum. and any meeting of said Roard at which quorum is present shall be deemed reeu ar meeting and have the same authority as full Board, whether notice of the meeting to the ahsen. ID embers o the Board shall have been gwen or not. 1 The Board of Directors of this corpora tioI shall have the power to establish By LAWS and make all rules and regulations deemed expe dient for the management of the affairs of thi corporation and the officers thereof, not incon sistent with the constitution and laws of the United States and the laws of this Territory
 IN WITNESS WHEREOF, we have hereuntt set our hands and seals this 9th day of Novem Der, 1896.
 J. W. EVANS, [Seall THOS. ARMSTRONG, JR. fSeal.1 J. c. ADAMS, [Seal.