Arizona republican., 1896-02-18

time or times and at such rate of interest as it's Board of Directors may deem advisable, and shall have the right to hypOthecate, mOrtgage or pledge all or any part of the property of this corporation and all or any part of the property which this corporation may hereafter acquire, and shall have the right to s cure the payment of any money borrowed by it or the m 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 COZ dltions upon which it is to be paid as fol- lows, to wit: All stock in this corporation shall be paid for in full upon making subscrip tion therefor and no stock certificate shall be issue in this corporation for any stock until the same shall be fully paid, and when any stock shall be issued in this corporation it shall be non -assessable thereafter
 ARTICLE ".
 The time of the commencement of this cor pOratiiOn 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 shall he con ducted oy 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 ntil the first annual eiec- tion which shall be held on the third Tuesday of January. 1897, at the office of the com panv in the City of Phoedix, at 10 o'clock a. 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 President; J. c. Rankin, Director and Secretary; B. w. Josselyn. Direct or; M a. Clarke, Director, and F. s. Belcher. Treasurer.
 ARTICLE VT
 The officers of this corporation shall be President, VicePresident, Secretary and Treas. urer, who shall be elected annually by the Board of Directors at such time as may. be prescribed by the bylaws of this corporation, 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 directors.
 ARTICLE VII. The Directors and Officers of this corporation shall hold their offices for the term of one year from their election or until their successors are duly elected end qualified, unless for any reason such officer or director shall cease to be an officer or director as herein provided. Any officer or director ceasing to be 8 stockholder | in this corporation shall thereupon cease to be a director or officer All vacancies in the Board of Directors or offices of this corporation shall be filled for the unes pired term by the remaln- | ing members of the Board of Directors. A | majority of the Board of Directors shall eonsti- ute quorum, and any meeting of the Board of Directors at which quorum is pre- sent shall | be deemed a regular and legal meeting and have the same authority 8 full board, whether notice Of the meeting to the absent 1 members of the board shall, have been first ] given or not.
 ARTICLE VIII.
 The highest amount of indebtedness or liabil- lty to which this corporation is at any time to subject itseH direct or contingent, is the sum of 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 this corporation | snail nave 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 I amended at any regular meeting of the stock holders or at any special meeting thereof called | for that purpose by majority of the stock presentat such meeting voting in favor of such amendment, and whenever these articles of in corporation shall be amended herein pro- | vided the same shall be signed and ackno WI- 1 edged by the President of the corporation, g. 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 our tuls uIsI udy ol T eUfuhryy 1850. CHAUNCEY D. CLARKE, A. c. FROST. M. R. CLARKE. TERRITORY OF ARIzoNA.i ~ County of Maricopa. '''
 Before me, Thomas D. Bennitt, Notary Public in and for said County and Territory, on this day personally appeare1 C.. D. Clarke, A. i 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. l edged to me that they executed the same for l the purpose and consideration therein eX- | pressed.
 | Given under my hand and seal of office this first day of February, 1S96 THOMAS D. FENNITT. | Notary Public. RECORDERS OFFICE,
 Ph@n1x Maricopa Co.,, A. T. | Filed and recorded at request of Chauncv D. Clarke, Feb. 1, 1896, at $50 o'clock D. m., Book ? Of Corporations. Pages 322 to S25.
 J. w. KINCAID,
 County Recorder. TERRITORY OF ARIZONA, ]
 | COUNTY OF MARICoPA. ]
 I,J. w. Kincaid, County Recorder in and for the County and Territory aforesaid, do hereb ' certify that the within instrument was filed for record at $50 o'clock D. m., on this 1st day of February, 1896. and duly recorded in Book No. 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.
 Ordinance No. 217. Permitting T. c. Bowe to construct building