Arizona republican., 1896-02-19

time or times and at such rate of interest as it's Board of Directors may deem advisable, and shall have the right to hypothscate, mortgage or pledge all or any part of the property Of 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 it or the payment of thereon as it's Board Of Directors may from time to time determine.
 ARTICLE III.
 The amount of capital stock of this corpora tlon 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- 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 be issue l 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 poratiion 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 shsll he con ducted oy a 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 til the first annual eiec- tion which shall be held. on the third Tuesday Of January, 1897, at the office of the com panv in the City of Ph@dix, st 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; NJ B. Clarke, Director, and F. $. 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 may be prescribed by the bylaws of this corpora tion 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 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 officer or director ceasing to be a 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 uneS pired term by the remaln 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 pre- sent shall be deemed regular and legal meeting and | have the same authority as 8 full board | whether notice of the meeting to the absent members of the board shall have been first given or not. ARTICLE VIII. The highest amount of indebtedness or liabil- | lty to which this corporation is at any time to subject 1tsel direct or contingent, is the sum of three hundred thousand dollars. ARTICLE TX. | The stockholders of this corporation and their private property shall be exempt sfrom 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 expe- dient for the management of this corporation | and the officers thereof. ARTICLE XI.
 These Articles of Incorporation may be am ended at any regular meeting of the stock holders or at any special meeting thereof called l for that purpose by majority of the stock present at such meeting voting in favor of such amendment, and whenevet these articles of in corporation shall be amended as herein pro- vided the same shall be signed and ackno gl- | edged by the President of the corporation, ar 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,
 M. R. CLARKE. TERRITORY OF RATIONAL ,a County of Maricopa
 Before me- Thomas D. Bennitt, a Notary | Public in aud for said County and Territory, on this day personally appeared c. D. Clarke, A. i c. Frost and M. R. Clarke, known to me 10 be 1 the persons whose names are subscribed to the above and foregoing instrument, and acknowl- l edged to me that they executed the same for pressed.
 Given under my hand and seal of office this first day of February, 1896.
 THOMAS D. pENNITT.
 Notary Public. ] RECORDERS OFFICE,
 Ph9nlx, Maricopa Co.,, A. T.
 Filed and recorded at request of Chauncv D. Clarke, Feb. 1, 1896, at $50 o'clock D. m. Book Of Corporations, Pages 322 to s25. | County Recorder. TERRITORY OF ARIZONA,
 COUNTY OF MARICoPA.
 I,J. w. Kincaid, County Recorder In and fol the County and Territory aforesaid, do hereby certify that the within instrument was filed foI record at $50 o'clock p. m., on this 1st day o1 February, 1926. and duly recorded in Book No. of Corporations, Records of Maricopa County Arizona, aJ pages 322.
 Witness my hand and official seal the day and year above written.
 County Recorder.
 Ordinance No. 217.