Arizona republican., 1896-02-16

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 ot this corporation and all or any part of the property which this operation may hereafter acquire, and shall have the right to cure the payment of any money borrowed by it or the payment of any debt of this corporation with such interest thereon as it's Board of Directors may from time to time determine.
 ARTICLE III.
 The amount of capital stock of this corpora- ton 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 con- dltions 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 t1on 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 porat11on 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 be con ducted oy Board Of Directors consisting of five stockholders who shall be elected annually by tHO SboChu0lueTs Ou lDe JnlIQ 1ueSQay In Jan uarv Of each year at the hour of ten o'clock in the forenoon. That until the first annual eiec- tlon 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 R. Clarke, Director, and F. S. Belcher, Treasurer.
 ARTICLE VI.
 The officers of this corporation shall be a President, Vice President, 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 corpora tion. provided that the President and Vice President snail 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 Off cers of this corporation shall hold their offices for the term of one year from their election until their successors are duly elected and qualified, unless for any reason such officer or director shall cease to be an officer or director as herein provided. Any ofhcer or director ceasing to be 8 stockholder In this corporation shall thereupon cease to be director or officer. All vacancies in the Board of Directors or offices of this corporation shall be filled for the une, pired term by the rema1n. ing members of the Board of Directors. A majority of the Board of Directors shall consti- ute quorum, and any meeting of the Board or Directors at which a quorum is present sh all 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 have been first l given or not.
 ARTICLE VIII. | The highest amount of indebtedness or habil- | 1ty to which this corporation is at any time to subject 1tself direct or contingent Is the sum o1 three hundred thousand dollars. ARTICLE K. | 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 shall have the power to establish bylaws and make all rules and regulations deemed e1pe- dlent for the management of this corporation and the officers thereof
 ARTICLE XI. | These Articles of Incorporatiou may be amended at any regular meeting of the stock holders or at any special meeting thereof called for that purpose by majority of the stock present.at such meeting voting in favor of such amendment, and whenever these articles of in corporation shall be amended as herein pro- vided the same shall be signed and ackno Tl- edged by the President of the corporation, and 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 hands, this first day of February, 1896. CHAUNCEY D. CLARKE, A. c. FROST, NJ. R CLARKE.
 TERRITORY OF ARIZONA ss
 County of Maricopa. '''
 Before me, Thomas D. Bennitt, Notary | ph1i iO fOrc To-