Arizona republican., 1896-02-20

time or times and at such rate of interest as its Board of Directors may deem advisable, and shall have the right to hypothscate, 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 if 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 IT.
 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 ditions upon which it is to be paid are as fol- lows, to wit All stock in this corporation shall be paid for in full upon making subscrip. ton therefor, and no stock certificate shall te the same shall be fully paid, and when any stock shall be issued in this COT operation it shall be non -assessable thereafter.
 ARTICLE "
 The time of the commencement of this cor poratlion shall be the date of the filing of these articles of incorporation in the office of the County Recorder of fMaricopa County, Arizona, and the termination thereof shall be twenty five years thereafter.
 ARTICLE V.
 The affairs of this corporation shall be 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 until the first annual eiec- ticn which shall be held on the third Tuesday of January. 1897, at the office of the com panv in the City Of Phoedix, st 10 o'clocA 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 B. Clarke, Director, and F. 5. Belcher, Treasurer.
 ARTICLE VI.
 The officers of this corporation shall be 8 President, VicePresident, Secretary end Treas. nrer, 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 snail hold their offices for the term of one year from their election or until their successors are duly elected snd 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 stockh0lder in this corporation shall thereupon cease to be director or officer AT HvaeanCies in the Board of Directors or offices of this corporation shall be filled for the uner pired term by the remain ing. members of the Board of Directors. A majority of the Board of Directors shall consti- ute quorum, and any meeting of the Board Of Directors at which quorum is present shall be deemed 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 Ezve been first given or not.
 ARTICLE VIII-
 Ths highest amount of indebtedness or habil- subject itself, direct or contingent, is the sum of three hundred thousand dollars
 ARTICLE IX
 The stockholders of this corpofaSisn and their private property shall be exempt lfrom the corporate debts of this corporation
 ARTICLE X.
 The Board of Directors of tEiis corporation make slI rules and regulations deemed expe- .dient for the management of this corporation and the officers thereof. ARTICLE XI. These Articles of Incorporation may be mended at any regular meeting of the stock holders CT at any special meetin gthereof called for that purpose by majority of the stock present at such meeting voting in, favor of such corporation shall be amended ssr herein pro- vided the same shall be signed and acknoTI- edged by the President of the corporation, a' q when recorded and published shall have the
  signed by all the stockholders. of the cor p0ration.
 In witness whereof, we have hereunto set our hands, this first day of February 1896.
 CHAUNCEY D. CLARKE,
 A. c. FROST.
 M. R CLARKE TERRITORY OF ARIzoNA.t ss County of Maricopa. ''
 Before me, Thomas, D. BenRitt, a Notary Public in and for said County and9Territory, on this day personally appeare1 c. D. Clarke, A. c. Frost and NJ. 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- pressed.
 1. Gwen under my hand and seal of office this first day of February, 1896. E THOMAS D. PENNFrT, Rotary Public. .RRcoRnER's OFFICE.
 Phoenlx, Maricopa Co.,, A. T.
 Filed and recorded Tt request of Charnev D. Clarke, Feb. 1, 1896, at $50 o'clock D. m., Book l. ? Of Corporations, Pages 322 to 325. J. ". KINCAID, County Recorder. TERRITORY OF ARIZONA, COUNTY OF MARIC2PA. | 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 350 o'clock p. m., on this fst day O February. 1896, and duly recorded in Book N 10. of Corporations, Records Of Maricopa. County Arizona, aJ paces 322 Witness my hand and official seal the da! 1 and year above written. J. w. KINCAID, County Recorder. l Ordinance No. 217.