Arizona republican., 1896-11-17

pay the same at such time or times. and with such rate or rates of interest as its mat aging officer or officers deem rrorer ana see if; and to hypOtheoate, mortgag pledg. all or any part q. 9f the property ot this Uni eorpoEauo1ii may hereafter acquire; to secrre payment of such money with intere-t, ur to secure the pay ment Of any debt of thi earDOratio1 with such interest thereon asit may pe leg lily obligated to pay.
 The place where this coroora'i'.n 9ropo>cs to have its princi pal office ana place oi buslhess is the City Of Phoenix, ill the County Of Mari copa, Territory of Arizona.
 The amount of the capital stock of this cor poration ;hall be fifty Thousand 6 0 % Dol lars, divided into Five Hundred (500) ,9ares. of the. par Value of One Hundred G100) liars esch. and the time when a9o the cona1t 1ns unon which 1t IS to be paid are s-s follows to wit: The whole thereof immed:at: lv upon maxi ing the subscription therefor a,-,! the said stock shall b fully paid before beng issued, and inaccessible thereafter.
 V.
 The amount of the par value O each share of the capital stock of this corpora tion thall be One Hundred (si0O) Dollars.
 VI.
 The highest amount of indebtedness or iiahi l. ity, direct or contingent, to mich this corpora tion is at any time to pc subject IS the sum of Fifty Thousand ($50,000) Dollars. VII.
 The stockholders in this corporation. and their private property, shall be exempt from the corporate de5Ss of this corporation VII.
 The afftirs of this corporation are and they shall be, condu ted by a Board of Direc ors consisting of thIee () persons, who shall he 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 th capital stock of this i corporation and hereafter no person shall De eligible to the office of Director unl he is a | stock holder Tn the corporatlon provided, that said Board Of Directors may elect such officer or officers and appoint such committee or com mittees, from their own number, to aid in the management of the business, and in the con | ducting of the affairs of sad corporation, as they may sae tit and vest in such officer off cers and said committee or comm{tt tees all such | powers as they may deem exped1ent. l The following sd srsO3s, who are sub Scribers to the capital stock of this DOT ton | shall constitute the Board of Direc ors of this corporation until November g, 1897, or until their succe sors duly qu lified, shall be elected to wit: J W. Evans, Thomas Armstrong, Jr and J. c. A fams: Any person ceasing to be a 1 stockhOlder shall cease to be dire ctor. Vacancies in the Board of Directors shall he l flied by Gne remaining mem, CTS of the board
 Immediately. or as soon as IT lctcz bic aftel the nling of these articles in the office of the County Recor CT of the County of Maricopa | Territory of Atiz 'na, the per sons named here | ill as Directors to serve until Novem Der 9, 1897 or until their su ;cess9r or successors. duly qualified, shel he elected shall meet and i org ganize Board of Directors adopt Bylaws a d presar be in said Bylaws the method O calling meetings of the Board of Directors an( stock holder. A majority of said Director shall be quorum. and any meeting of sait Boa d at which q quorum is present shall bs | deemed regu ar meeting and hay, the same authority full Board, whethe notice of the mseting to the absent m embers o the Board shall have been gwen Or not. The Board of Directors of this corporation shall have the power to establish By Laws an( make all rules and regulations deemed expe dent 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, Zeal
 THOS. ARMSTRONG, JR. [5eal i