Arizona republican., 1896-11-19

pay the same at such time or times. and with such rate Or rates of interest as it's managing 0hcer or officers 1eem proper and see fit; and to hvpothecate mortzag~ or pledge all or any part of the property oi thls corporation, and all or any part ol the property 1t may hereafter acquire; to secnre payment of sucn money with interest, UT to secure the pay ment of any debt of thi, corporation with such interest thereon as it may De legally obligated to pay.
 The place where this corooration propases to have its pr1nci pal office and place ot business Is the City of 'h9nix, in the County or Mari copa, Territory Of Arizona.
 The amount of the capital stock of this cor poration hsl be fifty Thousand 6 0,00D Dol lars, divided into Five Hundred (5o0 snares, of the par Value of One Hundred (S100) 'llars each, and the time when aHo the conditions upon which 1t is to be paid are as follows: to wit: The whole thereof immediately upon making the subscription therefor; and the said stock shall b. fully paid before being issued, and unassessahle thereafter.
 The amount of the par value oF each share of the capital stock of this corporation shal! be One Hundred (sl00) Dollars
 VI.
 The highest amount of indebtedness or liabi- lty3 uiIect UT lo WailCu tuts cbTp)Td ton is at any time to subject IS the sum of Fifty Thousand ($50, GOOD Dollars. VII.
 The stockholders in this corporation, and their private property, shall be exempt from the corporate debts of this corporation. VIII
 The affairs of this corporation are and they | thall be, condu ted by a Board of Direc ors consisting of three (S) 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 subscribers to the capital stock of this corporation, and hereafter no person shall De eligible to the offics of Director unl ss he is a l stock holder 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 mber, to aid in the | management of the business, and in the con. ducting of the affairs of said corporation, as they may see fl, and vest in such officer off cers ana said committee or committees all such powers as they may deem expedient. | The following named persons, who are sub scribers to the capital stock of this corpor tion shall constitute the Board of Directors of this corporation until November g., 1897, or until their successors duly qn lifted, shall be elected to wit: W. Evans. Thomas Armstrong, Jr and J. c. A Jams: Any person ceasing to be a stockhOlder shall cease to be director. | Vacancies in the Board of Directors shall be | filled by the remaining memters of the board
 
 I the nling of these articles in the office of the | County Recor CT of the County of Maricopa Territory of Ariz ,na, the pel lsons named here in as Directors to serve until November g, 1897 or until heir su seessor or successors. duly qualified, shal he elected shall meet and organize Board of Directors ado pt By-Laws ard prescribe in said Bylaws the method O calling meetings of the Board of Directors arc stockholders. A majority of said Director shall be quorum, and any meeting of sai6 Board at which quorum IS present shall be deemed regu ar meeting and have the same authority AS full Board, whethel notice of the meeting to the absen. m embers o the Board shall have been gwen or not.
 The Board of Directors of this corporation shall have the power to establish Bylaws anc make all rules and regulations deemed expe dient for the management of the affairs of thi corporation and the officers thereof, not iucon sistent with the constitution and laws of tn ) United States and the laws of this Territory.
 IN WITNESS WHEREOF. we have hereunt set our hands and seals this 9th day of Novem Der, 1896.
 J. w EVANS, [seal.l
 THOS. ARMSTRONG, JR. [Seall
 J. C. ADAMS, [Seal.