Arizona republican., 1896-11-14

pay the same at such time or times. and with ,uch rate or rates of interest as it's managing officer or cfficers ueem proper ana see fit; and to hypothecate, mort2ag, Or pledge ali or any part oi the property of this corporation. and all or any part ct the property it may hereafter acquire: to secnre payment of suca money with interest, ur to secure the pay ment of any deht of thi, corporation with such interest thereon as it may be legally obligated to pay.
 The place where this corporation proposes to have its princi pal cfice and place of business is the City of Phoenix, in the County or Mari copa, Territory of AriZouG.
 The amount of the capital stock of this cor poratlon .hali be T fifty Thousand 6 ,O09) Dol larss divided into Five Hundred (500) shares, of the par value of One Hundred (s10O) Dollars each. and the time when and the conditions upon W mich 1t is ta be paid are as follows to wit: The whole thereof immediately upon making the subscription therefor; aud the said stock shall b. fully paid before being issued, and inaccessible thereafter.
 V.
 The amount of the par value of each share of the capital tock of this corporation shall be One Hundred (slOO) Dollsrs.
 VI.
 The highest amount of indebtedness or liabil- ity, direct or contingent, to which this corpora ton is at any time to DC subject IS the sum Of Fifty Thousand (s5O,0OO) Dollars.
 VII.
 The stockholders in this corporation. and their private property, shall be exempt from the corporate debts of this corporation,
 The affairs of this corporation are and they shall be, condu ted by a Board of Direct 0rs consisting of three (S) persons, who shall be elected annually by the stockholders, at such time and manner shall be prescribed by the shall be subscribers to the capital stock of this corporation, and hereafter no person shall De eligible to the offcs of Director unless he is a stockholder in the corporation; provided, that said Board of Directors may elect such officer or off cers 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 of said corporation, as they may see fit, and vest in such officer or off cers and said committee or committees all such powers as they may deem expedient. | The following nsmed persons, who are sub scribers to the capital stock of this corpor ton, shall constitute the Board of Directors of this corporation until November g., 1897, or until their successors duly qualified, shall be elected to wit: J W. Evans, Thomas Armstrong. Jr.. 1 and J. c. Adams. Any person ceasing to be 8 stockholder shall cease to be director | Vacancies in the Board of Directors shall he | filled by the remaining memt CTS of the board | Immediately. or as soon as pract1ca ble after i the nling of these articles in the office of the County Recor 'er of the County of Maricopa Territory of Arizona, the persons named here 1 in Directors to serve until November g, 1897 or until their successor or successors. duly qualified, shall be elected shall meet and ganize ss Board of Directors adopt By Laws ard prescribe in said Bylaws the method oi calling meetings of the Board of Directors and stockholders. majority of said Directors shall be quorum. and any meeting of said Board at which quorum is present shall be | deemed regu ar meeting and have the same authority as a full Board, whether notice of the meeting to the absent members o the Board shall have been gwen or not.
 TX.
 The Board of Directors of this corporation 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 wifh the constitution and laws of tn, 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, [Seal.1
 TaOS. ARMSTRONG, JR [seal.1
 J. C. ADAMS, [Seal.l