Arizona republican., 1896-11-15

pay the same st such time or times. and with such rare or rates of interest as its ma aiaging oficec or Ificer> ueepl proper anti see fiji; nnd to hypotheeate. uprtgag of piedga all or any part ot the pr rerty oi thls corporation, and ali or any part 0; the property it may hereafter acqlir.; to secure payment Of sucn mones with Interest, CT to secure the pay ment Of any det't of ,hi corpnration with such interest .hcl leon Us it may De leg lily obligated to pay.
 The place where this c,rooca'ian nrnpnens 70 have it; pri nci pal ctfce enh place or bnslaess is the City of sh,enix, in the County ef Mari copa, Territory of Arizo-a.
 The amount of the capital stock of this cor poratOn hall be fifty Thousand 6 O. 0009 Dol lars, divided into Five Hundred (5OO) ,aares. of the par vslne of One Hnndred (sloo) liars upon which t 's to be paid are ss follows, to wit: The whole thereof immed;ately upon mssi ing the snoseription therefor; aa''i the said stock shall h fully paid before being issued and Tnasses sale thereafter.
 The amount of the par value of each share of the capital stock of this coFporati tion kha1: be One Hundred (slG0) Dollars.
 VI.
 The high est amount of in 5ebtedness or liabi!-
  tlOn is at any time tp De subject IS the sum of Fifty Thousand (s5O,C00) Dollars. VII
 | The sto 3khol3ers ia this corporation. and | their private property, shall De exempt iIom | the corporate debts of this corporation 1 VII.
 The afr trs of this corporation are sn1 they shall De, c3udu ted by Boald of Direc ors consisting of th1ee @ persons, who shall be | elected annually by the stockholders, at such time and manner as shall be prescribed by the By Laws of this corporation. and all of whom shall be subscribers to tn. capital stock of this corporation, and hereafter no person shall be eligible to the offics of Director unl@ss he is a 1 stock holder Tn the corporation; provided, that said Bos I'd of Directors may elect such officer or officers and appoint such committee or com mittees, from their own nu ui Der, to aid in the management of the business, and iE the con | ducting of the affairs of sa' d cOrDOratiOn, as they may sse fl, and vest in such officer or off | cers ana said committee or committees all such 1 powers as they may deem eXpedient. | The following named p2rso.s, who are sub scribers to the capital stock of this COT DOT tion shall constitute the Board of Director of this corporation nntil November g., 1897, or until their succe. sors duly qu lifi-d, shall be elected to wit: W. Evans, Thomas Armstrong. Jr and J. G. A a1ns. Any person ceasing to be a stockholder hall ceise to be director.
 Vacancies in the Board of Directors shall be flied by the remaining memt CTS of the board
 Immediately. or soon as pr actieeble aftel the nling of these articles in the office of the County Reeor CT of the County of MaricOpa Territory of Ariz pna, the persons named here in as Directors to serve until November 9, 1697 or until their su ,cessor or successors. duly qualified, sha l he elected shall meet and organize ss Board of Directors adopt Bylaws a-d prescr- be in said Bylaws the method O calling meetings of the Board of Directors ant stock holders. A majority of said Director shall be g. quorum. and any meeting of sait Boa-d at which a quorum is present shall bt deemed regu ar meeting and hav' the same authority as full Board, whethe notice of the meeting to the absen. members 0 the Board shall have been gwen O. not.
 The Board of Directors of this corpora tiol shall have the power to establish By Laws an( , 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 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, ESeal.l
 TdOS. ARMSTRONG, JR. (SeaLl
 J. C. ADAMS, [Seall