Arizona republican., 1899-12-22
ARTICLES OF INCORPORATION
 of the MUTUAL SAVINGS AND LOAN ASSOCIATION.

The undersigned, desiring to asso- ciate themselves, and such other per sons as may hereafter become asso- ciated with them, together for the pLr- pose of incorporating a savings and loan corporation under the laws of the territory of Arizona, do make, execute, sign, acknowledge, file and publish the following articles of incorporation:
 ARTICLE I.
 The names of incorporators are: Benjamin F. Porter, George H. N. Luhrs, James M. Swetnam. Arthur ). Edwards and Fred L. Blumer. The name of the corporation shall be and is the ARIZONA MUTUAL SAVINGS AND LOAN ASSOCIATION" The principal office and principal place of transacting business of said corpora ton shall be at the city of Phoenix, Maricopa county Arizona territory, but said corporation may establish and maintain offices at such other places as the board of directors may deem proper.
 ARTICLE 1T.
 The purposes for which this corpora ton is organized and the general na- ture of the business proposed to be transacted shall be and is the accumu- lation and loaning the funds of its members, stockholders and depositors; to receive deposits of money, loan, in vest and collect the same, with inter- est, and repay depositors with or with out interest; and generally to loan money on real estate and other valuable securities; and to receive on deposit the savings of such persons as may desire to deposit them, and to pay in terest and dividends on the same as they may accrue; and if deemed deair- able to do a general banking business.
 ARTICLE III.
 The capital stock of this corporation shall be ten million dollars (s1O,O ,OOO), to be divided into one hundred thou sand shares of one hundred dol. lars ($1OO.0O) each, and shall be issued at such times and in such amounts as the board of directors may determine, and shall be paid in such manner as the bylaws of this corporation shall specify.
 ARTICLE ". This corporation shall commence business on the 23rd day of October, 1899, and shall terminate twenty years thereafter; hereby reserving the right to renew the same from time to time for further periods of twenty years each when three-fourths of the votes cast at any regular election held for that purpose shall be in favor of such renewal.
 ARTICLE V. af of sI,a be conducted by a board of directors consisting of five stockholders. who shall be elected as follows: One st each annual meeting, to serve for term of five years.
 ARTICLE VI.
 The highest amount of indebtedness or liability to which the corporation is at any time to subject itself shall not exceed one hundred thousand dollars, and that only for money obtained, or for real estate or other valuable prop erty acquired for the purpose of re- investment by the corporation.
 ARTICLE VII.
 The private property of the stock holders of this corporation shall not be liable for the debts of the corporation. ARTICLE VIII.
 The annual meeting of the stockhold- CTS of this corporation shall be held on the first Tuesday of January of each year, commencing with the year 1901. Until said first annual meeting to be held on the first Tuesday of January, 1901, the following persons shall constitute the board of directors of said corporation; that is to say: George [ rl,r Do, whose term of office shall 5e and con- tinue until one year after said first an- nual meeting; Arthur J. Edwards, whose term of office shall be and con- tinue until three years after said first annual meeting; Fred L. Blumer, whose term of office shall be and continue un- til three years after said first annual meeting; and James M Swetnam. whose term of office shall be and continue until four years after said first annual meeting.
 ARTICLE TX.
 The board of directors shall have power to adopt and enforce bylaws for the government of the affairs of the corporation; and as it may from time to time seem to them eXpedient amend, repeal, modify, suspend or otherwise change the same.
 In Witness Whereof, the parties have hereunto set their hands this 21st day of October, 1S99
 BENJAMIN F.. PORTER.
 GEORGE H. N. LUHRS.
 JAMES M. SWETNAM.
 ARTHUR J. EDWARDS.
 FRED L. BLUMER Territory of Arizona, County of Mari copa, ss.